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DMart owner Radhakishan Damani buys Rs 1,001 crore property in Mumbai


DMart owner Radhakishan Damani buys Rs 1,001 crore property in Mumbai
As per the existing ready reckoner rates applicable in Maharashtra, the value of the property is Rs 723.98 crore. The Damani brothers paid Rs 30 crore as stamp duty for the two-storey house
BusinessToday.In | April 3, 2021 | Updated 20:37 IST
Radhakishan Damani
Radhakishan Damani, the promoter of DMart, and his brother Gopikishan Damani closed one of the biggest property deals seen in India during recent times where they paid Rs 1,001 crore for an independent house in Mumbai s posh Malabar Hills neighbourhood.
The house has an area of 5,752.22 square metres or 61,916 square feet. This amounts to a rate of Rs 1,61,670 per square feet, making it one of the most expensive real estate deals in recent years. ....

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Radhakishan Damani: How long can Damani's Midas touch sustain investor interest in India Cements?


Synopsis
Radhakishan Damani along with his brother Gopikishan Damani held 21.14 per cent stake in the cement maker at the end of December quarter.
Radhakishan Damani s strong interest in the N Srinivasan led-company had earlier led to speculations that the Damani family could acquire a controlling stake in the cement maker.
NEW DELHI: Seasoned investor Radhakishan Damani has been raising stake in India Cements quarter after quarter. But December quarter earnings of the cement maker have failed to enthuse analysts, who see scope for downside in the scrip after it rallied some 150 per cent from the lows hit in February, 2020.
Analysts say the company s strategy to maintain utilisation levels could lower average realisation and increase freight cost. The market share loss in core southern market and high debt levels are also causes of worry, analysts said. Their price targets for the stock are lower than current market price. ....

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