Radhakishan Damani A courier delivery service provider company – is continuously reducing stake in Blue Dart. This comes as a surprise to market observers as the stock has delivered multibagger returns to its shareholders over the past year. In the July to September 2021 quarter, Radhakishan Damani reduced his stake in the company from 1.68 per cent to 1.47 per cent, selling 50,000 Blue Dart shares in Q2FY22.
Radhakishan Damani’s stake in Blue Dart
As per the shareholding pattern of Blue Dart for Q2FY22, Radhakishan Damani has invested in Blue Dart through his company Bright Star Investments Pvt Ltd. As recently as in the September 2021 quarter, Bright Star Investments Pvt Ltd holds 3,48,770 or 1.47 per cent stake. While in the April to June 2021 quarter, Right Star Investments Pvt Ltd held 3,98,770 Blue Dart shares or 1.68 per cent stake in the company. This means that Radhakishan Damani sold 50,000 shares of the company during the July to September 2021 quarter.
It would be interesting to know that Radhakishan Damani is reducing his stake in Blue Dart from the June 2020 quarter. In the June 2020 quarter, he reduced his stake in the company from 3.35 per cent to 3.11 per cent, which subsequently went up to 2.26 per cent, 1.97 per cent, 1.96 per cent and 1.68 per cent in the September 2020 quarter. December 2020 quarter, March 2021 quarter and June 2021 quarter.
Radhakishan Damani reducing stake in Blue Dart is surprising as the stock has given multibagger returns in the past one year. Blue Dart’s share price history shows that its shares have bounced off ₹from 3,101.10 ₹6,525 per share level – a growth of nearly 110 percent in the last one year.
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