Saturday, April 8, 2017

Radhakishan Damani made Rs 6100 Crore in 2 days from one stock

According to ecomonictimes report Radhakishan Damani has made Rs 6100 crore in just 2 days from one stock.

Radhakishan Damani's firm Avenue Supermarts hogged a 114 per cent listing day gain on March 21.

Shares of his company have rallied 2.5 times over its issue price of Rs 299 since their listing. The stock soared nearly 19 per cent in just two sessions till Friday to make Damani and his family richer by Rs 6,100 crore. The stock closed at Rs 750.50 on BSE, which was 18.82 per cent higher than Wednesday’s closing price of Rs 631.60.

Also read: founder Jeff Bezos Selling $1 Billion of Amazon Stock a Year to Fund Blue Origin rocket company

BSE benchmark Sensex slipped 0.9 per cent in these sessions from Wednesday’s close of 29,974 to 29,707 on Friday.

Damani’s family, including his wife and brother Gopikishan Shivkishan Damani, holds 82.2 per cent stake in Avenue Supermarts.

Avenue Supermarts runs the most profitable food & grocery retailer brand D-Mart in India. The company operates in nine states and one Union Territory with a total of 118 stores.



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