Analysts expect in the coming years, the Indian rich list to be dominated by new age companies as the Corona pandemic has made adoption of latest, cutting age technology inevitable
The team owner's share price has more than doubled in the past few months and quadrupled in the past two years. It is the only sports team in the country to have its shares in the grey market
Damani, the owner of Avenue Supermarts, has informally reached out to the cement manufacturer's controlling shareholder
As per shareholding pattern data for the March quarter, Radhakishan Damani along with Gopikishan Damani holds around 20 per cent stake in the company
One of the stocks has been locked in 5 per cent upper circuit on the BSE for 14 straight sessions
The Bajaj group is the only one on the list of 12 conglomerates to be down - 1 per cent - since the lockdown came into effect, thanks to the hammering of stocks of non-banking financial companies.
Analysts say acquirer may have found the firm attractive at the valuation at which it was available at
Educated in Mumbai, where his father worked on Dalal Street, Damani dropped out of college after studying commerce for a year.
Shares of Avenue Supermarts, which contribute nearly all of the wealth to Damani's net worth, have advanced 24 per cent this year.
So far in the calendar year 2020, shares of The India Cements have outperformed the market by surging over 34 per cent
Share prices of India Cements saw a one-month peak at Rs 104.6 per share on February 26
According to NSE block deal list, Radhakishan Damani, Avenue Supermarts founder, and Gopikishan Damani together bought 11 mn shares in India Cements for Rs 111 cr
The Radhakishan Damani-promoted company is now more valuable than Nestle India and Bajaj Finserv, according to the BSE data
The share sale could come at a time when companies in India are battling weaker consumer demand as Asia's third-largest economy slows
Overall, the total wealth of the tycoons on the 2019 Forbes India Rich List shrank 8 per cent to $452 bn from a year ago
The stocks he enters or exits are closely watched by fund managers
The company's numbers are exceptional, but the investing community will also bet on the promoter