The share price of India Cements jumped almost 10 percent in early trade on BSE on March 26, a day after billionaire Radhakishan Shivkishan Damani bought 16 lakh shares of the company through a bulk deal.
Data available with BSE showed Damani bought 16 lakh shares of India Cements at an average price of 94.97 per share for Rs 15.20 crore.
In February, Radhakishan and brother Gopikishan increased their stake in India Cements. As of now, Damani and his family’s stake in the company is about 16.5 percent.
In September quarter 2019, Damani held a 1.3 percent stake in the company.
Shares of India Cements were trading 6.31 percent higher at Rs 101.90 on BSE around 1025 hours.
courtsey By – https://www.moneycontrol.com/news/buzzing-stocks/india-cements-share-price-surges-10-after-radhakishan-damani-increases-stake_13614501.html