Avenue Supermarts: DMart stock surge boosts Radhakishan Damani's wealth by ₹2,695 crore

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Avenue Supermarts, which operates the retail chain of DMart, saw its shares zoom 5.8% to hit a new one-year high of ₹4,715 apiece in today's trading before finishing the trade at ₹4,645 apiece, up 4.13%. Investor sentiment was buoyed by the company's impressive business update for the fourth quarter of FY24, which garnered positive attention from market participants. The upbeat performance of Avenue Supermart's shares has significantly boosted the notional value of stakes held by Radhakishan Damani and his family, who are the promoters of the company.

Also Read: DMart’s recovery path is turning weary for investors As per the Trendlyne shareholding data, Radhakishan Damani held 149,848,238 shares, or a 23.03% stake in the company at the end of Q3FY24. As DMart shares jumped sharply, the value for Radhakishan Damani increased by 2,695 crore to reach ₹69,526 crore. Radhakishan Damani publicly holds 14 stocks with a net worth of over ₹211,122.1 crore, as per Trendlyne.

Furthermore, the valuation of shares held by Shrikantadevi Radhakishan Damani, spouse of Radhakishan Damani, witnessed an increase of ₹113 crore today. At the end of Q3FY24, Shrikantadevi Radhakishan Damani held 6,500,000 shares, representing a 1% stake in the company. Overall, the promoter group owns a significant portion of 74.7% of DMart, Trendlyne data showed.