The value of the stake held by Radhakishan Damani and family in Avenue Supermarts Ltd is about ₹1.08 trillion. In February, they sold a 2.3% stake for about ₹3,500 crore to comply with the minimum public shareholding norms.

Damani is a famed investor, and traders were in awe of even the timing of the sale in mid-February, just before the markets crashed owing to concerns over covid-19.

So when the Damani family chose to use a fraction of their sale proceeds to invest in shares of India Cements Ltd, there was evidently a lot of excitement on the Street.

It so happens that India Cements is now the top stock among Nifty 500 index companies since the markets started correcting in mid-February, rising by about 43%.

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COVID-19

United States	Cases: 46 252 513 Deaths: 750 423 Recovered: 0
India	Cases: 34 321 025 Deaths: 459 652 Recovered: 0
Brazil	Cases: 21 835 785 Deaths: 608 235 Recovered: 0
United Kingdom	Cases: 9 215 683 Deaths: 141 607 Recovered: 0
Russia	Cases: 8 494 589 Deaths: 237 619 Recovered: 0

Detail statistic

India’s top stock post covid-19 actually has nothing to gain from pandemic

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