This billionaire made Rs 6,100 crore from only one stock in just two days

NEW DELHI: Radhakishan Damani, whose firm Avenue Supermarts hogged limelight with a 114 per cent listing day gain on March 21, would surely be a happy man these days.

ALSO READ | Dons of Dalal Street

Shares of his company have rallied 2.5 times over its issue price of Rs 299 since their listing. The stock soared nearly 19 per cent in just two sessions till Friday to make Damani and his family richer by Rs 6,100 crore.

The stock closed at Rs 750.50 on BSE, which was 18.82 per cent higher than Wednesday’s closing price of Rs 631.60.

BSE benchmark Sensex slipped 0.9 per cent in these sessions from Wednesday’s close of 29,974 to 29,707 on Friday.

Damani’s family, including his wife and brother Gopikishan Shivkishan Damani, holds 82.2 per cent stake in Avenue Supermarts.

Many experts had earlier advised small investors to book profit on the counter post its stellar listing. Read here

But the stock has been defying gravity to make its investors mop up wealth with both hands.

The Bloomberg Billionaire index shows Damani as the 20th wealthiest Indian, with $4.10 billion wealth as of Friday. He is among the top 500 world billionaires.

Founded in 2002, the supermarket retail chain that works under the brand D-Mart is among the most profitable food & grocery retailer in India. The company operates in nine states and one Union Territory with a total of 118 stores.