Share prices of India Cements saw a one-month peak at Rs 104.6 per share on February 26
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