Blog by Tickertape
In Current Events Trends

RK Damani Increases Stake in This Stock, Which Is up ~8%

2 Mins Read
Medicamen Biotech

Last Updated on Dec 22, 2021 by Aradhana Gotur

India Cements gained 35% over the last year, when its 52-week high and 52-week low were Rs. 189.35 and Rs. 134.05, respectively. A regulatory filing on 21 December 2021 revealed that billionaire Radhakishan Damani had increased his stake in the company from 21.14% to 22.76% at the end of September.

RK Damani has had his eyes on the stock since last year and has been increasing his stake in the company. In March of 2020, he held 19.89% in India Cements, which increased to 20.4% in July. And in January 2021, Damani bought more stake in the company, totalling 21.14%.

About India Cements

Chennai-based India Cements is one of the largest cement producers in South India. Reportedly, Damani planned to acquire a controlling stake in India Cements last year. However, the MD of India Cements had dismissed the reports.


Financials

In the September quarter of 2021, the company had posted a standalone profit of Rs. 21.97 cr. During the same quarter last year, the standalone profit stood at Rs. 71.43 cr.

Trading scenes

Today, the stock opened with a gap up gain of ~5%. It has been rallying for the last two days, during which it has gained over 9%. As per the Markets Mojo website, the delivery volume of 4.19 lakh on Tuesday raised by 0.2% against the 5-day average delivery volume. Delivery volume is an effective tool for analysing a stock. The higher the delivery volume in a stock, the higher the investor confidence.

Aradhana Gotur
Latest posts by Aradhana Gotur (see all)

Related Posts

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments
Use 200+ filters to analyse your Stocks & MFs
Try Tickertape
Use 200+ filters to analyse your Stocks & MFs
Try Tickertape

The blog posts/articles on our platform are purely the author’s personal opinion and do not necessarily represent the views of Anchorage Technologies Private Limited (ATPL) or any of its associates. The content in these posts/articles is for informational and educational purposes only and should not be construed as professional financial advice. Should you need such advice, please consult a professional financial or tax advisor. The content on our platform may include opinions, analysis, or commentary, which are subject to change, without notice, based on market conditions or other factors. Further, the use of any third-party websites or services linked on the website is at the user's discretion and risk. ATPL is not responsible for the content, accuracy, or security of external sites. Investments in the securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI, membership of BASL (in case of IAs) and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. The examples and/or securities quoted (if any) are for illustration only and are not recommendatory. Any reliance you place on such information is strictly at your own risk. In no event will ATPL be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.

By accessing this platform and its blog section, you acknowledge and agree to the Terms and Conditions of this website, Privacy Policy and Disclaimer.