India Cements jumps 8% as Damani family increases stake to 20% in Q4

Gopikishan Damani and Radhakishan Damani's combined stake in India Cements increased to 19.89% in March 2020 quarter from 4.73% in the previous quarter

Shares of India Cements jumped 8 per cent to Rs 109 on the BSE on Friday after the company said the Damani family’s stake in the company increased to nearly 20 per cent in the March quarter. The stock was trading close to its 52-week high level of Rs 117, touched on May 28, 2019.

Gopikishan Damani and Radhakishan Damani’s combined stake in India Cements increased to 19.89 per cent at the end of March 2020 quarter, according to shareholding pattern disclosed by the company. Radhakishan Damani is the founder of Avenue Supermarts Ltd, which promotes DMart.

Gopikishan