Damani family increases stake in India Cements

Radhakishan Damani and Gopikishan Damani have increased their stake in India Cements during the October-December 2020 quarter.

Radhakishan Damani increased his stake by 0.54 per cent, now holding an 11.34 per cent stake in the company against 10.8 per cent at the end of the July-September quarter. At the same time, his brother Gopikishan Damani now owns 8.46 per cent of the total paid-up capital in the company, up from 8.26 per cent in the 2QFY20-21.

In addition, together the brothers now hold another 1.34 per cent stake in the firm. In total, the Damanis have a 21.14 per cent stake in the firm.

The Damani family have been steadily increasing their holding in India Cements. At the end of the October-December quarter in the previous fiscal, the investors only held a 4.73 per cent stake, according to the Business Standard.