Avenue Supermarts, which owns and operates retail chain DMart, on Wednesday became the 11th most valued Indian firm by market valuation following a rally in its share price
Damani made the contributions through his group company Bright Star Investments.
Avenue Supermarts founder Radhakishan Damani becomes India’s second richest person; networth soars to $17.9 billion
Damani and family are the promoters of Avenue Supermarts. Their wealth jumped by close to $96 million as Avenue Supermarts' shares peaked at Rs 2,559 apiece on 13 February.
Avenue Supermarts market-cap crosses Rs 1.5 lakh cr; Radhakishan Damani becomes 6th wealthiest individual in India
The Damani-promoted Avenue Supermarts value has gone past Nestlé India and Bajaj Finserv.
Mukesh Ambani polevaults to 12th position as world's richest Indian with net worth of $59.4 bn after m-cap nears Rs 10 lakh cr
With Reliance Industries having overtaken British energy giant BP Plc to become the sixth-largest energy company in the world, the conglomerate is now valued at $138 billion
Analysts said that now that the much-awaited Budget is over, the focus will shift to first-quarter earnings starting mid-July
Avenue Supermarts' market valuation rose by Rs 3,751.56 crore to surge past Rs 1,03,145.56 crore on the BSE
DMart owner Avenue Supermarts' shares drop after promoter Radhakishan Damani decides to sell up to 1% stake
Shares of Avenue Supermarts plunged over 5 percent on Friday as Radhakishan Damani, the promoter of the company, will sell up to 1 percent stake in the firm.
Retailers expressed concern about 5 percent tax levied on packaged goods that causes a discrepancy as loosely sold commodities are not taxed
So far, Flipkart has been powering sales by depending on smartphones, apparel and large appliances.