According to a regulatory filing, Gopikishan Shivkishan Damani sold 10 lakh equity shares of the Chennai-based cement maker during the January-March period. Damani held 2,52,16,496 shares or 8.14 per cent stake in the company as of March 30, 2022, as against 2,62,16,496 equity shares or 8.46 per cent holding in the preceding quarter.
However, his elder brother, Radhakishan Damani, kept his stake unchanged at 3,51,32,665 equity shares or 11.34 per cent during the period under review.
Damani brothers separately owned another 41,49,029 equity shares or a 1.34 per cent stake in the company. This stake, too, remained untouched during the quarter.
Their cumulative holding stood at 7,93,31,008 shares or 25.6 per cent stake in the recently concluded quarter. This stake is worth Rs 1,741.71 crore.
Despite multiple headwinds for the cement sector, shares of India Cements have rallied about 10 per cent in 2022 so far. In the last one year, the counter has gained more than 35 per cent.
According to the data from Trendlyne, Radhakishan Damani publicly holds 14 stocks with a net worth of over Rs 175,630.9 crore as per the latest corporate shareholdings filed.