Damani and Kacholia on the Sidelines: Strategic Investors Await Optimal Market Conditions
Radhakishan Damani and Ashish Kacholia, prominent investors in India, have been cautious in making new bulk purchases since June 2024. While they remain active in smaller transactions, both are holding cash for potential bargains.
InvestmentsBulk DealsReal EstateStock MarketPortfolio ManagementReal Estate MumbaiJun 02, 2025
Damani executed his last bulk purchase on June 5, 2024. Since then, he has sold shares via bulk deals 11 times. Interestingly, Kacholia also made his last bulk purchase in June 2024, acquiring SG Mart, a B2B platform. Damani's last significant buy was Bhagiradha Chemicals. Since June of last year, Kacholia has sold shares via bulk deals four times.
A fund manager with experience working alongside Rakesh Jhunjhunwala and familiar with both Damani and Kacholia, believes they will soon be back in action. “Many big investors and fund managers are holding cash for bargain prices,” he said. While Kacholia is making smaller purchases, Damani is increasing his investments in real estate, particularly in Mumbai.
Bulk and block deals refer to large quantities of shares executed on the market. These deals are faster to execute, offer instant liquidity, and provide clear pricing for large investors. The stocks in Damani’s portfolio are held through Derive Trading, several investment trusts, and in the names of family members. Derive purchased a 3.32% stake in Bhagiradha through a block deal on June 5, 2024, at an average price of Rs 188.49. It then sold almost 1.8% in India Cements for Rs 283 per share on June 27 through two bulk deals.
Damani and his brother Gopikishan Damani offloaded their shares in India Cements on the same day through four bulk deals. This was followed by five bulk deals of VST Industries shares between July 24, 2024, and September 19, 2024.
Kacholia, on the other hand, sold shares via bulk deals four times, with the last trade occurring on December 27, 2024. These sales included stocks of Sky Gold and Diamond, Repro, and Universal Autofoundry. Currently, his largest holdings are in Shaily Engineering (Rs 482 crore), Beta Drugs (Rs 238 crore), Safari Industries, and Awfis Space Solutions.
At the end of the March quarter, Kacholia’s portfolio was valued at Rs 2,789 crore. He added eight new stocks to his portfolio, though none through bulk deals. These new additions include Thomas Scott, Concord Control, Infinium Pharmachem, Qualitek Labs, Naman In-Store, Z-tech, C2C Advanced Systems, and Quadrant Future Tek. He also reduced his holding in Awfis Space from 4.8% to 2.5%.
Damani’s portfolio, which includes a 67.2% stake in Avenue, the operator of the D-Mart supermarket chain, is worth Rs 186,744 crore ($22 billion) as of March 2025. This includes a Rs 2,450-crore stake in Tata-owned rival supermarket chain Trent and shares worth Rs 1,427 crore in VST Industries. Other significant holdings are in 3M India, Blue Dart Express, United Breweries, and Sundaram Finance.
Bright Star Investments is the largest among several investment trusts that hold Damani’s investments. His daughter Jyoti Varun Kabra is the primary beneficiary of this trust. There are also uniquely named trusts such as Mountain Glory, Bottle Palm, and Royal Palm, among others.
The Damani family has substantial investments in Mumbai real estate and hospitality, reflecting their strategic approach to diversification and long-term value creation.
Frequently Asked Questions
What are bulk and block deals?
Bulk and block deals are large transactions of shares executed on the stock market. They are faster to execute, offer instant liquidity, and provide clear pricing for large investors.
When did Damani and Kacholia last execute bulk deals?
Both Damani and Kacholia last executed bulk deals in June 2024.
What are some of the largest holdings in Kacholia's portfolio?
Kacholia's largest holdings are in Shaily Engineering (Rs 482 crore), Beta Drugs (Rs 238 crore), Safari Industries, and Awfis Space Solutions.
What is the value of Damani's portfolio as of March 2025?
Damani’s portfolio, including a 67.2% stake in Avenue, is worth Rs 186,744 crore ($22 billion) as of March 2025.
What are some of the investment trusts that hold Damani's investments?
Bright Star Investments is the largest among several investment trusts that hold Damani’s investments. Other trusts include Mountain Glory, Bottle Palm, and Royal Palm.
Related News Articles
India's Infrastructure Boom: Rs 15 Lakh Crore Investments Expected in Renewable Energy, Roads, and Realty
India is poised to witness a significant surge in investments in renewable energy, roads, and realty, with total investments expected to reach Rs 15 lakh crore in FY25 and FY26.
Residential Real Estate Market Outlook: Cautious Optimism Prevails
Despite a cautious stance, 63% of Q2 respondents expect higher residential property prices, indicating a broadly optimistic outlook for the real estate market.
India's Net Office Leasing to Witness 10-12% Growth This Fiscal
Driven by higher-than-expected leasing demand from GCCs, BFSI, and manufacturing sectors, net leasing of Grade A commercial offices in India is expected to grow 10-12% this fiscal.
Sunlight Real Estate Investment Trust Achieves a Four-Star Rating in GRESB Assessment
Sunlight REIT, managed by Henderson Sunlight Asset Management Limited, has been awarded a four-star rating in the 2024 GRESB Real Estate Assessment, highlighting its commitment to environmental, social, and governance (ESG) practices.
Why Bollywood Stars Love Investing in Residential and Commercial Real Estate
Real estate experts reveal that many Bollywood stars, including Amitabh Bachchan and Aryan Khan, buy property for investment or personal use, making it a preferred financial strategy in the industry.
PCMC Limits No Construction Work After 10 PM: Commissioner
Pune: Pimpri Chinchwad Municipal Commissioner Shekhar has announced that no construction work will be allowed after 10 PM within PCMC limits to reduce noise pollution and improve air quality.