Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
News18 English
donald trump india visit
donald trump india visit
News18 » Business
1-min read

Spencer’s Retail Shares Surge 20 Percent after Radhakishan Damani Buys 2% Stake

Spencer’s Retail shares closed the session at Rs 89.70 compared with the previous close of Rs 74.75. The stock has jumped by a massive 51% in the last one month itself, though it is still down 58% for the last one year.

Trending Desk

Updated:January 21, 2020, 4:34 PM IST
facebookTwitter Pocket whatsapp
Spencer’s Retail Shares Surge 20 Percent after Radhakishan Damani Buys 2% Stake
Representative image

Spencer’s Retail Ltd shares were locked in an upper circuit of 20% on Tuesday after data revealed that ace investor Radhakishan Damani has bought nearly 2% stake in the company during the December quarter.

Spencer’s Retail shares closed the session at Rs 89.70 compared with the previous close of Rs 74.75. The stock has jumped by a massive 51% in the last one month itself, though it is still down 58% for the last one year.

The quarterly shareholding pattern data filed by the company showed that Radhakishan Damani, who is also the promoter of D-Mart chain of hypermarkets, acquired 1.66 million equity shares of Spencer’s Retail, or a total of 2.09% stake in the company, during the three months ended December. Notably, his name wasn’t there in the September quarter list of shareholders, indicating that he had nil or negligible stake in the company then.

It is likely that Damani bought the Spencer’s Retail stake from mutual funds since their holding in the company declined to 4.81% in the December quarter from 6.28% in the September quarter.

Besides Radhakishan Damani, India Insight Value Fund also increased its stake in Spencer’s Retail to 2.94% in the December quarter compared with 2.26% in the previous quarter. Eq India Fund’s shareholding in the company also went up to 1.32% from 1.03%.

Among the entities that offloaded stake were Canara Robeco Mutual Fund and Reliance Capital Trustee Company Ltd. While Canara Robeco Mutual Fund A/C Canara Robeco Emerging Equities reduced its stake to 2.44% in the December quarter from 3.37% in the September quarter, Reliance Growth Fund sold its entire stake of 1.03% in the company during the period.

Interestingly, Canara Robeco Mutual Fund have also sold an additional 0.65% stake in Spencer’s Retail on 17 January, according to the NSE bulk deal data. However, the name of the buyer could not be ascertained.

Meanwhile, foreign portfolio investors and Life Insurance Corporation kept its stake constant in Spencer’s Retail at 6.17% and 1.67%, respectively, during the December quarter.

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

Read full article
Next Story
Next Story

facebookTwitter Pocket whatsapp
Most Active
Company Price Change %Gain
Bajaj Finserv 9,500.00 0.35
IRCTC 1,958.90 1.87
Reliance 1,438.65 -0.43
Indiabulls Hsg 336.95 1.86
HLE Glascoat 767.35 -5.00
Top Gainers
Company Price Change %Gain
HUL 2,265.00 2.21
ONGC 99.10 1.12
Asian Paints 1,838.30 1.07
Nestle 16,480.00 0.86
Tata Steel 419.80 1.07
Top Losers
Company Price Change %Gain
HCL Tech 589.25 -0.99
HDFC Bank 1,200.20 -0.81
Tech Mahindra 815.50 -0.57
ICICI Bank 527.50 -0.39
HDFC 2,288.90 -0.17

Live TV

Countdown To Elections Results
To Assembly Elections 2018 Results