CHENNAI: Telangana-based Cigarette maker VST Industries Limited’s stock price touched the upper circuit of Rs 4065.30 on Tuesday after a block deal of 4% shares picked up by ace investor Radhakishan Damani.
The stock opened at Rs 3389.95 and gained 677.55 points or 20% hitting new 52-week high. Bright Star Investments’ Damani bought 2,22,935 shares at Rs 3,390 and 109,000 shares at the price of Rs 3,520.73. Damani Estates and Finance Private Limited took 93,000 equity shares at 3,520. SBI Mutual fund, HDFC Mutual fund and DSP Mutual fund cumulatively took 6.75 lakh shares of the company.
VST Industries market capital stands at Rs 6,227 crore. It manufactures and trades cigarettes with brands such as Charminar, Charms, Special, Moments and Total in 64 mm and 69 mm segments. The company also manufacturers tobacco and tobacco products. It is an associate of British American Tobacco Plc, which holds 32.2% stake in VST Industries.
Damnai made an additional 1.4% share of the company through an open market deal, on top of 25.95% shares in VST through his firm Bright Star Investments Limited. DSP mutual funds bought 250,000 shares at Rs 3,390, and HDFC MF took 200,000 shares at Rs 3,390.13.