Stocks

Radhakishan Damani adds shares of two more companies to portfolio

Our Bureau | Updated on July 14, 2020 Published on July 14, 2020

On buying spree   -  Getty Images/iStockphoto

With addition of BF Utilities, Astro Microwave, the ace investor now holds stake in 11 firms

Big investor Radhakishan Shivkishan Damani has added shares of two more companies to his portfolio during the April-June quarter.

The latest to join his portfolio is Kalyani group company BF Utilities. He acquired 1.3 per cent equity stake, or 4.91 lakh equity shares, in BF Utilities during the quarter ended June 30.

Following this, shares of BF Utilities jumped 10 per cent to ₹220.95 on the BSE.

BF Utilities is part of the $2.4-billion Kalyani Group. BF Utilities, which earlier operated in two business segments ― Infrastructure Business and Investment Business, underwent business restructuring by way of a Composite Scheme of Arrangement in 2014. Following the restructuring, the infrastructure business remained with BF Utilities, while the investment business was transferred to BF Investment Ltd.

Astra Microwave

This is the second company in which the ace investor had invested in the April-June quarter. The billionaire investor acquired 8.96 lakh shares, or 1.03 per cent of the total paid-up equity capital, of Astra Microwave Products during the quarter.

Astra Microwave manufactures sub-systems for RF and microwave systems used in defence, space, meteorology and telecommunications.

India Cements’ shareholding eyed

It has been widely reported that the DMart owner has been eyeing controlling stake in India Cements. At the end of March quarter, Damani had held 19.89 per cent stake through various purchases between June 2019 and March 2020 in the company and it would be interesting to know whether he hiked his stake further in the company during the April-June quarter.

The other companies in which Damani has invested are Spencer’s Retail, Delta Corp, Kaya, Food & Inns, Simplex Infrastructure, VST Tillers and Prozone Intu Properties.

Follow us on Telegram, Facebook, Twitter Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

Published on July 14, 2020
  1. Comments will be moderated by The Hindu Business Line editorial team.
  2. Comments that are abusive, personal, incendiary or irrelevant cannot be published.
  3. Please write complete sentences. Do not type comments in all capital letters, or in all lower case letters, or using abbreviated text. (example: u cannot substitute for you, d is not 'the', n is not 'and').
  4. We may remove hyperlinks within comments.
  5. Please use a genuine email ID and provide your name, to avoid rejection.