United Breweries shares: RK Damani trimmed stake in this stock in March quarter

Radhakishan Damani's investment arm has trimmed its stake in a breweries and distilleries company for the March 2023 quarter, the latest shareholding pattern filed by the company suggests. However, he has remained among the key shareholders of the company for at least 28 quarters in a row.

Damani's investment arm Derive Trading And Resorts has more than 59,200 equity shares of United Breweries as his holding stood at 31,36,536 equity shares, or 1.19 per cent, as of March 31, 2022. He owned 31,95,834 equity shares, or 1.21 per cent, in the preceding quarter.

According to Sebi norms, all the listed companies have an obligation to disclose the names of their key shareholders, owning a per cent or more on a quarterly basis.

Even after the stake cut, Damani's holding in United Breweries stood at Rs 441.3 crore as the stock settled about a per cent lower at Rs 1,408 on Thursday. The company's market cap stood at Rs 37,250 crore as of Thursday's close.

Shares of United Breweries have disappointed investors in the last one year as the stock has plunged about 11 per cent. In the last six months, it has fallen about 20 per cent, whereas it is down 17 per cent in the year 2023 so far.

Bengaluru-based United Breweries markets beer under the Kingfisher brand and owns various other brands of alcoholic beverages. It has 32 units across the country. Its products are also available in over 60 countries across the globe.

According to the data from Trendlyne, Radhakishan Damani publicly holds 15 stocks with a net worth of over Rs 1,58,241.8 crore as per the latest corporate shareholdings filed.

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