DelhiDesk Veteran investor Radhakishan Damani’s investment arm, Deriv Trading & Resorts, has sold its entire 1.19% stake in United Breweries, equivalent to 3,136,536 shares, in the March 2023 quarter, resulting in a fall of 3% in the company’s stock. Damani was one of the major shareholders of the company for at least 28 consecutive quarters and sold his stake for around INR 437.8 crore. United Breweries’ consolidated net profit declined by 93.97% to INR 9.87 crore in the fourth quarter, while its revenue from operations grew 11.35% to INR 4,081 crore during the quarter.
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👉Radhakishan Damani’s investment arm sells entire stake in United Breweries
👉Shares sold for Rs 437.8 crore
👉Damani was a major shareholder for at least 28 consecutive quarters
👉Stock fell by 3% on Friday, 5 May
👉United Breweries’ consolidated net profit declined by 93.97% in Q4
👉Company’s revenue from operations grew 11.35% in Q4
👉United Breweries produces beer under the Kingfisher brand
👉Radhakishan Damani holds 15 stocks with public holdings of over Rs 153,987.2 crore
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