Shares of Avenue Supermarts are breaking the roof and this is, clearly, fulfilling Radhakishan Damani.
The shares of Avenue Supermarts had increased 114% on posting day in March and the stock took off more than 12% in only two sessions till Friday twelve to make Damani and his family wealthier by Rs 4,300 crore.
In Friday’s exchange, the stock hit a high of Rs 714, which was 13.18% higher than Wednesday’s end cost of Rs 631.60.
Damani’s family, including his better half and sibling Gopikishan Shivkishan Damani, holds 82.5% stake in Avenue Supermarts.
The Bloomberg Billionaire file indicates Damani as the twentieth wealthiest Indian, with $4.10 billion riches as of Friday. He is among the main 500 world Billionaires extremely rich people.
Established in 2002, the general store retail chain that works under the brand D-Mart is among the most gainful Food and grocery retailer in India. The organization works in nine states and one Union Territory with a sum of 118 stores.