Ramesh Damani has bought shares of this multibagger IT stock. Should you?
Subscribe to enjoy similar stories. Keeping up with the latest investing trends can be a real hassle for retail investors nowadays.With fast-moving trends, changing market conditions, and numerous industries to choose from, new investors have a lot to consider when building their portfolios. But in today's hyper-connected digital world, we have access to more data and insights than ever before. This has made ‘guru investing’ more popular than ever.
Replicating the investments of renowned and successful investors or investment managers is one of the most commonly used investment strategies. One such guru is Ramesh Damani, who recently added an IT stock to his portfolio. Damani is a member of the Bombay Stock Exchange and is a well-known face in India’s stock broking community.
He holds a bachelor's degree in commerce from HR College in Mumbai and a master’s degree in business administration from California State University, Northridge, US. He’s famous for hosting the TV show 'Wizards of Dalal Street' on CNBC TV18 and is frequently invited by business channels to comment on financial issues. Also read: Top 5 stocks in the plastic and tyre recycling ecosystem Damani follows theWarren Buffett model of investing, meaning he favours companies with strong management and sound processes.
The stock he bought recently is that of Protean eGov Technologies, which conceptualises, develops and executes technology solutions for individuals, companies and governments. According to BSE data, Damani bought 422,069 shares of Protean eGov Technologies in the September quarter, representing 1.04% stake in the company. His investment was worth about ₹82.9 crore as of 21 October 2024.
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