Radhakishan Damani
Founder, D-MartBirth Details1954 | Bikaner, India
NationalityIndian
LeagueBusiness Leader
EducationCollege dropout
Net Worth$14 billion (As of July 17, 2020)
Radhakishan Damani's Assets:
Radhakishan Damani's Journey so far ...
Before you go ...
- Avenue Supermarts
- Stake in United Breweries
- Stake in VST Industries
- Radisson Blu Resort, Mumbai
Radhakishan Damani's Journey so far ...
- Radhakishan Damani was brought up in a one-room flat in Mumbai. He studied commerce in a Mumbai college but dropped out after the first-year examination. At the age of 32, he lost his father and joined his brother's stockbroking business
- His first venture was that of ball bearings but soon left it to start an investment company called BrightStar in 1989. He became a SEBI-registered stockbroker in 1992
- Damani made his mark in stockbroking and built his fortune by buying MNC stocks early in his career and kept an eye on companies with high-quality businesses that were available for a reasonable price
- Known as 'RD' in Dalal Street, Damani was inspired by veteran stock market investor Chandrakant Sampat. He made money during the Harshad Mehta-fuelled bull run when he shorted stocks owned by Mehta
- In 1999, Damani and Damodar Mall took up a franchise of Apna Bazar in Nerul, Mumbai. Damani founded Avenue Supermarts in the year 2000, and two years later, acquired Apna Bazar and set up the supermarket retail chain that works under the brand D-Mart
- The first store opened in 2002 and it works on the principle of offering the best and lowest price to its customers. In 15 years, Damani turned the supermarket chain among the most profitable food and grocery retailers in India with over 200 stores across the country.
- In 2017, the retail tycoon decided to list D-Mart and in a blockbuster debut on the stock exchange, its shares were listed at a premium of 102.14% on offer price of Rs 299. Later that year, Avenue became the most expensive retail stock in the world on key financial parameters
- The owner of Avenue Supermarts, who went on a supermarket opening spree, also has stakes in United Breweries, tobacco company VST industries and owns the Radisson Blu resort in Mumbai
Before you go ...
- Radhakishan Damani's trademark dress is a white shirt and a pair of white trousers because of which he is famously known as 'Mr White and White'
- Damani is very reclusive and rarely seen in social gatherings
- Ace market investor Rakesh Jhunjhunwala considers Damani as his guru
- Despite the stock market meltdown during the Covid 19 pandemic, Damani saw his fortune grow
Last Updated: 12/02/2021
Radhakishan Damani News
D-Mart owner RK Damani breaks into list of world’s top 100 richest peopleDamani, who owns retail chain-operator Avenue Supermarts, is currently worth $19.2 billion and is positioned at 98 in the list of the world’s wealthiest individuals.
After tepid 2020, unlock, export bets help Vijay Kedia turn the tablesBy comparison, Calendar 2021 has turned out to be a stellar year for the founder of Kedia Securities, as his portfolio has grown 79 per cent in the first six months of the year to Rs 440.8 crore, the highest level in more than three years, data available on Trendlyne showed.
Radhakishan Damani’s DMart buys retail space in Mumbai’s Goregaon for Rs 71.50 croreAvenue Supermarts, which owns retail chain Dmart has bought a total of nearly 35,000 sq ft spread across two floors in the project. As part of the transaction, the company will also get exclusive access to 49 car parks in this tower.
Damani venture's missing online aggression may cost stock reratingAfter repeated questions on DMart’s perceived lower aggression in e-commerce push, the management categorically gave three key messages. First, it understands the huge potential in online grocery, and customer behaviour is encouraging, but this is a long runway, and not a rat race.
Radhakishan Damani cuts stake in four companies in June quarterDamani's holding in Foods & Inns slipped below 1 per cent at the end of June 2021 quarter, hinting at a partial or complete exit. He held 23,76,000 equity shares, or 4.72 per cent, stake at the end of March. The stock has gained about 15 per cent during this period.
Damani flagship D’Mart doubled profit in Q1. Should you buy or sell?The D’Mart operator’s numbers showed the impact of a strong second wave of Covid, as the hit from the lockdown was greater compared with last year.
D-Mart vs Info Edge in tug of war to become next Nifty50 memberAccording to brokerage firm ICICI Securities, there are two candidates to be included in the next reconstitution of the premier stock index in the country in October. On one corner is the crown jewel of Radhakishan Damani’s multi-billion dollar empire, Avenue Supermarts. On the other end, is Info Edge India representing the new technology age. All stocks included in the Nifty50 must also be part of the derivatives segment, and the D-Mart stock is yet to be included there.
Radhakishan Damani's DMart rises on Q1 biz update, analysts unimpressedCiti has maintained 'sell' rating on the stock with a target of Rs 2,210. It complained of a much slower-than-expected start to FY22. This brokerage said reported revenues were 20 per cent below its estimates. Morgan Stanley sees the stock at Rs 3,218 while JP Morgan has a target of Rs 2,700 on the stock. Macquarie, meanwhile, has a target of Rs 3,700 on the stock.
Radhakishan Damani’s Dmart buys Rs 100 crore retail space in Goregaon from Sunteck RealtyAvenue Supermarts that owns retail chain Dmart has bought a total of nearly 40,000 sq ft spread across three floors in the under-construction 18-storey commercial tower being constructed by the developer as part of its larger layout Oshiwara District Center (ODC).
RedBird deal with Rajasthan Royals puts CSK back in spotlightAccording to dealers of unlisted market, the deal is likely to have a rub-off effect on CSK's valuation and the stock price has already shot up as much as 20-30 per cent just in a few days and the sellers have stashed.
Radhakishan Damani's DMart more valuable than even Maruti, L&TThe Radhakishan Damani-promoted company brags a market cap of over Rs 2.17 lakh crore, making it the 17th most valued company in India after Axis Bank.
ETMarkets Morning Podcast: Damani, DMart on a real estate buying spreeTune in as we tell you what's happening in the market, what's making news this morning, and look at some of the buzzing stocks.ETMarkets Morning Podcast: Damani, DMart on a real estate buying spree
Radhakishan Damani, DMart on property buying spree, bet big on realty assetsD’Mart and its media-shy owner Damani, often going by the Mr ‘White & White’ sobriquet for his distinctive attire, are strengthening their physical presence across key Indian consumption centers through bulge-bracket property deals at a time when few are even venturing beyond home.
Why the market heroes you follow should not influence your buy-sell ideasIn the early 1990s, people followed the original Big Bull, Harshad Mehta, then came Ketan Parekh in the late 90s, and now investors follow every buy-sell move, every stock spoken of and every comment made by the likes of Rakesh Jhunjhunwala and Radhakishan Damani keenly and try to execute them.
A Jhunjhunwala, Damani favourite smallcap creating lot of buzz, up 38% in a monthIt’s a microcap stock valued at just Rs 330 crore. But it is owned by two of the biggest investors on Dalal Street – Rakesh Jhunjhunwala and Radhakishan Damani. And, the stock has delivered about 28 per cent return in the last one month.
‘DMart, SBI Card, IDFC may be added to F&O segment’Radhakishan Damani-owned Avenue Supermarts, SBI Card, IDFC, Tata Motors DVR, CDSL and Affle India are among the 34 companies that could be potentially added to the futures and options segment, said a note by IIFL Alternative Research.
Suddenly, some analysts turn sceptical on Damani’s DMart, cut price targetsThe food and grocery retailer, which runs the DMart chain of stores, bounced back in the second half of last financial year after a major hit from the Covid-19 lockdown in the first.
What ace investors bought in Jan-March, and stocks they soldThe top five companies in which Damani’s stake has gone down in percentage terms in the March quarter are VST Industries, Spencer’s Retail, Simplex Infrastructures, Kaya and Jubilant FoodWorks. His stake in VST industries has come down by 0.87 per cent to 30.16 per cent.
DMart Q4 takeaways: 80% stores hit, excess inventory & likely slow store openings aheadThe company said it could have a longer-term impact on inventory to sales ratio as we could take comparatively longer time to liquidate the excess inventory," it said.
DMart Q4 results: Profit soars 53% to Rs 414 crore; over 80% stores hit by Covid 2.0Consolidated total revenue for the quarter rose to Rs 7,412 crore compared with Rs 6,256 crore in the year-ago quarter.
IPL suspension spooks CSK in unlisted market, shares tank 30%After the developments in the last few hours, unlisted shares of IPL franchise Chennai Super Kings (CSK) have nosedived some 30-odd per cent.
800% return in 3 years! Unlisted Damani stock has analysts hookedAnalysts and dealers in the unofficial market attributed the buoyancy to the 14th IPL edition that kicks off on April 9.
D-Mart’s Radhakishan Damani buys Malabar Hill property for Rs 1,001 croreThe ground plus two storey-bungalow Madhukunj on leafy Narayan Dabholkar Marg is spread over 1.5-acre land parcel and has total built up area of around 60,000 sq ft. The market price based on the ready reckoner rate is around Rs 724 crore.
D-Mart’s Radhakishan Damani buys 8-acre Thane plot from Mondelez“The transaction was concluded and registered last week. The plot has been acquired by Damani’s family office,” said one of the persons mentioned above. “The plot is likely to see development of a mixed-use project with some high-street retail given its proximity to an upcoming metro station, while the balance is residential.”
Avenue Supermart buys retail space in Mumbai’s Chembur for Rs 113 croreAvenue Supermarts, the company that formally owns the retail chain, has paid stamp duty charges worth Rs 2.26 crore for the transaction concluded recently.
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