India's VST Industries surges after investor adds stake

VST Industries

03/01/2024 05:23

** Shares of cigarettes maker VST Industries  VSTI.NS  rise
as much as 6.52% to three-year high of 4,324.70 rupees, before
paring some gains
    ** VSTI shares last up 1%
    ** High net-worth investor Radhakishan Damani bought 222,935
shares (1.4% stake) at 3,390 rupees apiece via bulk deals on
Tuesday - exchange data
    ** Damani, through his investment firms - Derive Trading and
Resorts and Bright Star Investments - had held 30.71% stake in
the company at end of September quarter - shareholder data
    ** SBI Mutual Fund also bought 1.4% stake, while HDFC Mutual
Fund and DSP Mutual Fund offloaded combined 3% stake
    ** Stock most active in 12 years with trading volume of
271,315 shares as of 10:38 a.m. IST, 23x the 30-day avg - LSEG
data

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))