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15 Dec 2022
15 Dec 2022
Radhakishan Shivkishan Damani is known as the retail king of India, and is well known for being the founder of Avenue Supermarts Limited, D-Mart. He is an Indian billionaire investor and business magnate. He also manages his portfolio through his Investment firm, Bright Star Investments Limited. He was ranked the 98th richest person in the world by Bloomberg Billionaires Index.
Radhakishan Shivkishan Damani was born in 1954 in Rajasthan. He was brought up in a Maheshwari Marwari family in Mumbai. He pursued Commerce at the University of Mumbai.
He entered the stock market investment and left the ball bearing business after the death of his father. He used to observe the strategy of other investors, like how they are investing in the stock market. He used to get benefits from short-selling stocks and was the largest individual shareholder of HDFC Bank.
At the age of 32, Mr. Damani entered into the stock market, he made his first investment and was making money from investing and trading. He used to follow Manu Manek and notice his strategy, like if all the shares are pressurized then all the bullish traders will start running one by one. After understanding the strategy of Manu Manek, then he earned great profit by short selling.
He built up a good strategy in investing and probably used to invest in MNCs, which used to bring big profits to him. Radhakishan had a few initial failures, as he lost some of his initial bets. Since then, he decided to make long-term investments. Soon, he began to succeed. He used to follow Manu Manek from who he learned some tricks of the stock market.
He was married to Shrikantadevi Radhakishan Damani and was blessed with three daughters. He always used to live simply and avoid other complications in life. He does not like interaction with the media.
As he probably liked to wear a White shirt and trousers, Mr. Damani is known as Mr. White & White. It is a very great thing that the Big Bull Rakesh Jhunjhunwala, who is also known as Warren Buffet of India calls Mr. Damani his mentor.
Apna Bazaar was a franchise that was department store and was operated by Mr. Damani. He quit the stock market in 2020, just a year after Apna Bazaar, and later he started DMart, which is a well-known and great project, and was his own hypermarket chain. It was set up first in 2002, in Powai and it grew rapidly, and now the country has more than 200 DMart stores.
The Initial Public Offering (IPO) listing of DMart was made under its parent company - Avenue Supermarts, which had an opening on the National Stock Exchange market and also made a record. This placed Mr. Damani on the list of the top 20 billionaires. He became the retail king of India after the listing of DMart in the IPO list.
It was the twist when Mr. Damani overpowered popular Indian stockbroker Harshad Mehta, and acquired secured a great position in the business sector. He always had more focus on the profit margins, and also came up with the second store after the first one.
He later went into investing and growing capital. He was influenced by Chandrakant Sampat and took his guidance, who was a first-generation investor, and his guide and a good mentor. He learned the strategy of dealing with risky business situations from Chandrakant Sampat.
He noticed a bounce in his income with the short-selling profits after the Harshad Mehta Scam in the year 1992. He quit the stock market in 2000 to start his own hypermarket chain, DMart and set up the first store in Powai in 2002. The company grew rapidly and went public in 2017.
Mr. Damani is well-versed in being a stock market investor in India. He has shown his attributes in the field of investment and invested in a myriad of multinational stocks. He is very clever and enthusiastic, and also very humble to everyone. He also came up with the Apna Bazaar. In 2002, he came up with the DMart which only has one store in suburban Mumbai.
He also holds stakes in many national and international firms, one of which includes VST Industries, Blue Dart Express Ltd., and United Breweries. He also has proved to be one of the best-performing stocks are Sundaram Finance, VST Industries, Blue Dart, and India Cements as well. He always believed in long-term goals and used to make long-term investments, as it used to bring great benefits.
After the foundation of DMart, he has always been escalated on the pavement of progress, which made him prosper. It brought great profits every day and every year. His high determination and enthusiastic and optimistic nature made him successful in every field of his life.
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