Radhakishan Damani Raises Stake in Portfolio Brewery Stock in Q1

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Radhakishan Damani Raises Stake in Portfolio Brewery Stock in Q1
Credit: © Reuters.

By Malvika Gurung

Investing.com -- Star investor Radhakishan Damani has added a fresh stake in the alcohol manufacturing giant United Breweries (NS: UBBW ) in the first quarter of FY23 via investment arm Derive Trading and Resorts.

According to the latest shareholding pattern released by United Breweries, ace investor Radhakishan Damani’s Derive Trading and Resorts added 56,544 equity shares of the brewery company during the June 2022 quarter, translating to a 0.02% stake.

Consequently, Damani’s trading company held a 1.23% stake in the alcohol manufacturer or 32,52,378 shares, as of June 30, 2022. In the March 2022 quarter, the trading company held 31,95,834 shares or a 1.21% stake in the alcohol manufacturer.

Companies have to compulsorily release the names of all the shareholders holding at least a 1% stake in the company, every quarter.

The ace investor’s overall wealth eroded by about Rs 26,000 crore in Q1 FY23, his portfolio tumbling 14% in the period, according to data from Trendlyne and ACE Equity.

Of the total fortune lost in the quarter, the biggest drag was contributed by Damani’s flagship company Avenue Supermarts (NS: AVEU ), where he owns 65.2% as a promoter. The retail giant’s stock plummeted 15% in the period, wiping off about Rs 25,462.5 crore of the ace investor’s wealth.

Read More: 25% of RK Damani’s Wealth Wiped Out in Q1 FY23; 4 Portfolio Stocks Added Gains

Damani publicly holds 14 stocks with a net worth of over Rs 173,398.1, as per Trendlyne data.

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  • Arbaj Khan @Arbaj Khan
    wow
    Like 0
  • Arbaj Khan @Arbaj Khan
    wow
    Like 0
  • Rahul Pareek @Rahul Pareek
    This is really an attention seeking article. Damani buying 50K shares is no news
    Like 0

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