BF Utilities: Damani provides booster dose

Shares of BF Utilities were locked in 10% upper circuit at Rs 220.95 on the BSE on Tuesday after investor Radhakishan Shivkishan Damani bought more than one per cent stake in the Kalyani group company in the April-June quarter.
As on June 2020, Radhakishan Damani held 1.3% stake, or 491,000 equity shares, in BF Utilities.
Radhakishan Damani, the founder of Avenue Supermarts, held nil or less than one per cent stake in electric utilities company at the end of March quarter.

It was the second company, wherein Damani bought fresh shares during the June quarter.
BF Utilities, which operates in the infrastructure segment, holds 74.52% stake in Nandi Infrastructure Corridor Enterprises, 69.53% in Nandi Highway Developers and 100% in Avichal Resources.
Damani also acquired 8,96,387 equity shares (representing 1.03 percent of the total paid-up equity capital) in Astra Microwave Products during the quarter gone by.

Astra Microwave manufactures sub-systems for RF and microwave systems used in defense, space, meteorology and telecommunications.
Meanwhile, BF Investment, other Kalyani group company, surged as much as 19% to Rs 366 on the BSE. Currently, the stock was trading 14% higher at Rs 350, with around 400,000 shares changing hands on the NSE and BSE, so far.

Disclaimer –
This document is meant for the recipient only for use as intended and not for circulation. This document should not be reproduced or copied or made available to others. The information contained herein is from the public domain or sources believed to be reliable. While reasonable care has been taken to ensure that information given is at the time believed to be fair and correct and opinions based thereupon are reasonable, due to the very nature of research it cannot be warranted or represented that it is accurate or complete and it should not be relied upon as such. Also above note is not a recommendation to Buy or SELL and is only a view based on facts and figures and we will be in no way responsible for any losses incurred by anyone who uses this information to either trade or invests securities mentioned herein.