Radhakishan Damani Stocks Give Multibagger Gains

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Ravi
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Radhakishan Damani Stocks Give Multibagger Gains

Post by Ravi » Sat Jun 13, 2020 11:53 am

Radhakishan Damani has a big holding of Kaya and Prozone Intu Properties in his portfolio.

Kaya is a skin and hair care solution company. Prozone Intu Properties is a real estate firm.

Both stocks have seen their prices more than double since April 2020 after the ace investor Radhakishan Damani acquired more than one percentage stake in these companies during the March quarter (Q4FY20). Damani had no holdings in these companies at the end of the December quarter.

Radhakishan Damani bought 1.11 per cent equity stake in Kaya, a skincare, haircare, and beauty solutions provider. He has bought 144,464 equity shares in the Harsh Mariwala-owned company, the March shareholding pattern data shows.

Since April, the stock has rallied 137 per cent to Rs 263.95 till Friday from Rs 111.40, hit on March 31, 2020. The stock was locked in 5 per cent upper circuit for the past 14 consecutive sessions on the BSE. It touched an all-time low of Rs 96 on March 27, 2020, and has lost 60 per cent of its value in the last one year.

The stock of real estate company Prozone Intu Properties has rallied 156 per cent from Rs 8.60 to Rs 21.15. It hit a 52-week high of Rs 28.55 on Monday, June 8, 2020. However, since then, the stock has been locked in lower circuit for the fifth straight day, down 5 per cent at Rs 21.15 today.

Damani bought 1.93 million equity shares, or 1.26 per cent stake, in the company during the March quarter, against nil holding at the end of December 2019 quarter.

Rakesh Jhunjhunwala (2.06 per cent), Rajesh Rama Narang (1.52 per cent) and Aditya Shyamsunder Chandak (1.13 per cent) are the other individual shareholders who held over one percentage point stake in Prozone Intu Properties at the end of March 2020, according to the BS.
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