VST Industries jumps as Damani raises stake in 2024

VST Industries came into sharp focus after multiple reports linked a strong rally in the stock to investor Radhakishan Shivkishan Damani increasing his holding through bulk deals. The move was reported even as broader markets were described as bearish for the third straight session at the start of 2024. VST, which makes cigarettes and tobacco products, is part of the S&P BSE 500, and the stock action was accompanied by several new price milestones across sessions. Separately, the provided market snapshot also lists a much lower trading range for “VST INDUSTRIES LTD”, showing the stock at ₹256.8, down ₹1.35 or 0.52%, with an intraday range of ₹256.00 to ₹263.00 and a 52-week range of ₹200.00 to ₹319.10. Another line in the same snapshot says the share price moved up 1.04% from ₹223.46 to a last traded price of ₹225.77. The rest of the supplied reports, however, cite prices in the ₹3,700 to ₹4,800 range for VST Industries on BSE and NSE around the stake and bonus-issue headlines.

Market move: new highs and sharp intraday rallies

In one of the sessions described, VST Industries rose about 5% to touch a 52-week high of ₹4,328.45 on the BSE. Another report said the stock had been locked at a 20% upper circuit at ₹4,065.30 on Tuesday, before the fresh jump in subsequent trading. A separate update noted that the stock rallied 16% on Friday and hit a 52-week high of ₹4,784.45, described as its sharpest intraday rally in the recent past, after it announced a maiden bonus issue plan. At 10:15 AM in that session, VST was reported to be trading 15% higher at ₹4,733.85, while the BSE Sensex was down 0.30%. The stock also surpassed its previous high of ₹4,522.45 touched on June 13, 2024, according to the same report. Another price reference in the supplied material points to a record high of ₹4,856.45 on January 22, 2020.

What triggered the rally: Damani’s bulk deal purchases

The rally was repeatedly linked to exchange data showing Radhakishan Damani buying additional shares of VST Industries. One report stated that Damani acquired 222,000 shares and increased his stake by 1.4% through bulk transactions on Tuesday. Another report said that on April 15, 2024, he bought 233,766 shares, or a 1.5% stake, in VST for ₹86.26 crore at an average price of ₹3,689.96 per share, based on BSE bulk deal data. A separate update described the same April 15 transaction as 2.33 lakh shares or 1.51% stake. Yet another report said he purchased 2.22 lakh shares to buy 1.4% and add to his holding. Across these versions, the common thread was that the buying was large enough to be visible through bulk deal disclosures and it coincided with significant price moves.

The reported seller: HDFC Mutual Fund’s stake reduction

One of the reports added that HDFC Mutual Fund sold 3.3 lakh shares, described as 2.15% stake, through open market deals on April 15. It said this reduced HDFC Mutual Fund’s stake from 5.84% to 3.69%. The same set of details also described HDFC Mutual Fund as the seller in the transaction where Damani bought shares worth ₹86.26 crore. Another line described the sale as 3.3 lakh shares or 2.1% of total equity, alongside the mention of Damani’s purchase size and price. This pairing of a large buyer and a large institutional seller often draws attention because it can reshape the shareholder register and near-term trading supply. The supplied text does not include any direct quote from the fund, and it does not attribute a reason for the sale beyond the fact of the transaction.

Bonus issue headline: board meet scheduled for July 25

VST Industries also drew attention after it announced that its board will meet on July 25 to consider a bonus issue. Following this news, the stock was reported to have surged 17.4% on Friday to an all-time high of ₹4,849 on the NSE. Another report framed the bonus issue as a key driver behind the stock hitting a 52-week high of ₹4,784.45 in the same broader period. The bonus issue reference in the supplied material is limited to the board meeting agenda and the market reaction, with no bonus ratio mentioned. The reports described the announcement as boosting investor confidence, and the immediate reaction was visible in the sharp intraday rise. The board meeting date is the next confirmed milestone referenced in the text.

How much does Damani own: multiple figures across reports

The supplied reports contain multiple stake figures for Damani, presented in different contexts. One report said he held a 3.47% stake at the end of the June quarter and increased his holding by 1.52 percentage points during the quarter. Another report said that with the latest purchase, Damani now holds a 34.4% stake in VST Industries, and that he previously held 32.89%. A CNBC-TV18 transcript excerpt also said he now has a 34% stake, valued at over ₹2,000 crore, and described VST Industries as his second largest holding besides Avenue Supermarts. Another section added entity-level holdings: Bright Star Investments owning 25.95% and Derive Trading and Resorts Pvt. Ltd. holding 5.24%, with Damani on the board of the latter. The same section also said Damani holds 3.47% as of the end of the June 2024 quarter, reflecting his investment interest. Because the supplied text presents these figures without reconciling them to a single consolidated number, readers should treat them as reported as-is and linked to the specific source context.

Performance checkpoints: 52-week range, one-month and YTD moves

Beyond the headline highs, the supplied material also includes multiple performance snapshots. One report said the stock touched a 52-week high of ₹4,328.45 on January 3 and a 52-week low of ₹3,159.90 on October 26 last year. It also said that in the past one month, three months and one year, the stock rose 3.52%, 3.26% and 14.51%, respectively. For the year-to-date period in that report, the counter climbed 10.46%. Another update said year-to-date, VST Industries’ stock has increased by over 42%, in the context of the bonus issue headline and the July 25 board meeting. These multiple YTD figures appear in the supplied text as separate references and are not explained as being measured from different cut-off dates. What is consistent is that the stock saw strong upward moves around the bulk deal and bonus issue news flow.

Key facts at a glance

Market impact and why the story matters

The story matters because it combines two price-sensitive catalysts: a high-profile investor increasing exposure through disclosed bulk deals, and a corporate action headline tied to a July 25 board meeting. Bulk deals can change short-term supply-demand dynamics, particularly when the reported buyer and seller sizes are large relative to daily liquidity. The bonus issue discussion adds a second layer of attention, as traders often position around record dates and corporate action announcements, even when the ratio is not yet known. The stock action described includes multiple sharp rallies, including a 16% intraday jump to ₹4,784.45 and a separate surge to an all-time high of ₹4,849 on NSE following the board meeting announcement. The presence of different stake figures and entity-level holdings in the supplied reports also highlights the need to read exchange disclosures carefully and track holdings across vehicles. For investors, the next clear event to watch, based on the provided text, is the July 25 board meeting outcome on the bonus issue.

Conclusion

VST Industries’ sharp moves were reported alongside Damani’s bulk deal buying and the company’s July 25 board meeting to consider a bonus issue. The supplied reports cite multiple new highs and unusually strong single-day rallies, with additional attention on changes in major shareholdings. The next confirmed catalyst in the timeline is the July 25 board meeting, after which further details on the proposed bonus issue may become available through company disclosures.