Damani’s 15% stake in India Cements

Shares of India Cements jumped 16 per cent on Friday after data showed ace investor Radhakishan Damani hiked stake in the cement maker during the March quarter. The scrip closed 15.77 per cent higher at Rs 116.70 on the BSE. At the end of March quarter, Radhakishan Damani held 3,18,86,777 shares in India Cements, representing 10.29 per cent stake in the cement company. He along with his younger brother Gopikishan Damani held another 1.34 per cent stake in cement firm as of March quarter. Besides, Gopikishan at his own name had 8.26 per cent personal stake in the firm. Damani brothers now hold 19.89 per cent stake in the company. This is against the promoters who own 28.26 per cent stake in the firm.