VST Industries shares gain as Radhakishan Damani picks up 1.5% more

Shares of VST Industries gained nearly 2 percent at the open on the NSE on April 16, a day after veteran investor Radhakishan Damani bought 2.33 lakh shares, or a 1.51 percent stake, in the company. At 9:20am, the stock was trading at Rs 3,752.10.

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According to exchange information, Damani, who is the founder and chairman of retail chain Avenue Supermarts (DMart), picked up additional stake in VST Industries  at an average price of Rs 3,689.96. He previously held around 32.89 percent stake.

With the latest purchase, his stake has increased to 34.4 percent (Damani had acquired  1.44 percent stake in January 2024). Damani is the second largest shareholder in the company, after the promoters. Damani holds stake in the company through two entities - Derive Trading and Resorts Pvt Ltd and Bright Star Investments Pvt Ltd.

Additionally, HDFC Mutual fund sold 3.3 lakh shares or 2.15 percent stake in the company at Rs 3,690.23 per share, bringing down its stake in the company to 3.69 percent from 5.84 percent as of December 2023.

VST Industries is into the manufacturing and marketing of cigarettes. They also trade in unmanufactured tobacco. The company is yet to announce a date for its Q4 and full year results. In Q3FY24, the company reported a 32 percent YoY decline in net profit to Rs 53.72 crore. Revenue for the same period grew 6 percent YoY to Rs 468.42 crore for Q3FY24.

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