26 Aug , 2021 By : Kanchan Joshi
Radhakishan Damani portfolio: In recently ended June 2021 quarter, Indian billionaire cut down his stake in two portfolio stocks. Blue Dart Express is one of those two stocks in which Radhakishan Damani trimmed stake. This was a big surprise for the market observers as Blue Dart shares have delivered around 165 per cent return to its share holders while in 2021, it has yielded to the tune of near 43 per cent. However, market experts are of the opinion that fundamentals of the market leader in India’s air express market looks strong and the stock is poised for an upside movement.
Unveiling the investment strategy in Blue Dart Express shares; Sumeet Bagadia, Executive Director at Choice Broking said, "This Radhakishan Damani stock is looking positive on chart. One can buy the counter at current market price for the short-term target of Rs6000 to Rs6250 maintaining stop loss at Rs5600."
Speaking on the fundamentals of this Radhakishan Damani portfolio stock; Arijit Malakar, Head of Research at Ashika Stock Broking said, "Blue Dart Express is the market leader in India’s air express market with 50 per cent plus share. Pandemic-induced boom in e-commerce is the key growth driver for the company. Further, company has optimized its cost and follows the eaner employee cost structure. Earnings downgrade cycle seems to be behind and reopening of the economy will aid in recovering its earnings growth."
Radhakishan Damani share holding in Blue Dart Express
As per Blue Dart Express shareholding pattern for Q1 FY22 quarter, Radhakishan Damani has invested in Blue Dart through Bright Star Investments Pvt Ltd. The shareholding pattern says that Radhakishan Damani holds 3,98,770 shares of Blue Dart, which is around 1.68 per cent of the net company shares. However, for January to March 2021 quarter, Radhakishan Damani's Bright Star Investments Pvt Ltd used to hold 4,65,770 Blue Dart shares,, which was around 1.96 per cent of the net company shares. So, in April to June quarter, Indian billionaire has sold out 67 lakh company shares, trimming down his stake from 1.96 per cent to 1.68 per cent.
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