Shares of VST Industries hit an almost four-year excessive at Rs 4,328, as they rallied 6.5 per cent on the BSE in Wednesday’s intra-day commerce, zooming 28 per cent in previous two days in an in any other case weak market after investor Radhakishan Damani and SBI Mutual Fund elevated stake within the firm by way of open market.
The inventory was buying and selling at its highest stage since February 2020. It had hit a document excessive of Rs 4,848 on January 22, 2020. At 10:15 AM; VST Industries was quoting 1.5 per cent increased at Rs 4,123, as in comparison with 0.5 per cent decline within the S&P BSE Sensex.

On Tuesday, January 2, investor Radhakishan Shivkishan Damani purchased 222,935 fairness shares representing 1.4 per cent of whole fairness of VST Industries by way of open market. In accordance with BSE bulk deal knowledge, Damani bought shares of VST Industries at a mean value of Rs 3,390 per share.

The Avenue Supermarts’ promoter by way of his funding automobiles Derive Buying and selling and Shiny Star already holds 30.7 per cent stake in VST Industries.

SBI Mutual Fund (MF) additionally acquired 225,000 shares of VST Industries, at a mean value of Rs 3,390 per share, knowledge exhibits.

In the meantime, two mutual funds, HDFC Mutual Fund (200,000 shares) and DSP Mutual Fund (250,000 shares) collectively offered 450,000 shares or 2.9 per cent stake in VST Industries, knowledge exhibits.

Final month on December 20, 2023, VST Industries stated that SBI Mutual Fund, below its numerous schemes had bought 116,730 shares representing 0.76 per cent of the corporate. Publish acquisition, SBI Mutual Fund’s stake in VST Industries elevated to five.7 per cent from 4.94 per cent, the corporate stated. SBI Mutual Fund held 4.41 per cent stake in VST Industries on the finish of September 2023 quarter, as per the shareholding sample knowledge.

VST Industries is engaged inter alia in manufacture and buying and selling of Cigarettes, Tobacco and Tobacco merchandise. The corporate is an affiliate of British American Tobacco Plc, which holds 32.2 per cent stake in VST Industries.

HDFC Mutual Fund (6.81 per cent) and DSP Small Cap Fund (2.4 per cent) are amongst different mutual funds that held greater than 2 per cent stake within the VST Industries on the finish of September quarter, knowledge exhibits.

VST is a longtime participant within the cigarette trade with over eight a long time of operations. The corporate is the third-largest participant within the home market with vital presence in West Bengal, Andhra Pradesh, Telangana, Bihar and Uttar Pradesh.

First Revealed: Jan 03 2024 | 10:43 AM IST