Radhakishan Damani buys 16 lakh shares of India Cements via bulk deal; stock up 5%

Radhakishan Damani buys 16 lakh shares of India Cements via bulk deal; stock up 5%

India Cements stock in focus today. According to the BSE bulk deal data, investor Radhakishan Damani bought 16 lakh shares of India Cements on Wednesday at Rs94.97 per share. His family stake is now over 16.5% in the company.

On Monday, India Cements said that Gopikishan Damani, Radhakishan Damani, Shrikantadevi Damani and Derive Investments have picked up 1.2cr shares or 4% stake through open market purchases.

The stock is currently trading at Rs100.55, up by Rs4.7 or 4.9% from its previous closing of Rs95.85 on the BSE.

Meanwhile, India Cements’ factories in Tamil Nadu, Andhra Pradesh, Telangana, Rajasthan and Maharashtra are shutting down effective from such dates as per the directions/guidelines issued by the Central/respective State Governments. The duration of the shutdown will depend on the improvement of the situation in the respective places/Governmental directions.

Damani family has further increased their stake in India Cements Ltd from 11.98% to 16% through open market transactions till March 16, 2020.

On February 26, the company had said that the investor family increased their stake by 7.27% to 11.98%




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