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VST Industries Jumps 17% on Bonus Issue Buzz and Stellar Q1 Results

VST Industries stock soared 17.4% after announcing a potential bonus issue and strong Q1 FY25 results, reflecting investor confidence supported by Radhakishan Damani's growing investment.

VST Industries announced that its board will meet on July 25 to consider a bonus issue. Following this news, the company’s stock surged 17.4% on Friday, reaching an all-time high of ₹4,849 on the NSE.

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The board will also review the company’s unaudited financial results for the quarter ended June 2024 (Q1 FY25). This announcement has significantly boosted investor confidence, resulting in a notable spike in the stock price.

Year-to-date, VST Industries’ stock has increased by over 42%. Radhakishan Damani holds a 3.47% stake in the company as of the end of the June 2024 quarter, reflecting his substantial investment interest.

Damani’s primary investment vehicle, Bright Star Investments, owns a 25.95% stake in VST Industries. Additionally, Derive Trading and Resorts Pvt. Ltd., where Damani serves on the board, holds a 5.24% stake in the company.

During the June quarter, Damani increased his stake in VST Industries by purchasing an additional 2.34 lakh shares, equating to a 1.5% stake, for ₹86.26 crore at an average price of ₹3,689.96 per share. VST Industries is a prominent cigarette manufacturer in India, with two production facilities in Hyderabad and five major brands: Total, Charms, Moment, Special, and Edition.

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