According to NSE block deal list, Radhakishan Damani, Avenue Supermarts founder, and Gopikishan Damani together bought 11 mn shares in India Cements for Rs 111 cr
The Radhakishan Damani-promoted company is now more valuable than Nestle India and Bajaj Finserv, according to the BSE data
The share sale could come at a time when companies in India are battling weaker consumer demand as Asia's third-largest economy slows
Overall, the total wealth of the tycoons on the 2019 Forbes India Rich List shrank 8 per cent to $452 bn from a year ago
The stocks he enters or exits are closely watched by fund managers
The company's numbers are exceptional, but the investing community will also bet on the promoter