India Semen shares were enlarged more than 8 percent at the beginning of trading on December 22, hit the highest intraday RS 192. 35 at BSE.

Regulatory submission on December 21 showed that Radhakishan Damani’s billionaire investors increased its shares in the company to 22.76 percent, up from 21.14 percent at the end of September.

RK Damani has increased its shares in a cement company a little since last year. He held 19.89 percent of the shares in the company in the March 2020 quarter and raised it to 20.4 percent in July 2020.

In January this year, Damani had increased its rates to 21.14 percent, and defended it for the next 11 months.

Damani, who is also the founder of the Major D-Mart retail, reportedly planned to obtain controlling shares in India’s cement last year. However, India’s Cements Managing Director N Srinivasan has rejected the report.

At 9:25 a.m., the stock rose 7.2 percent at Rs 189.35 in BSE. Still 18 percent of the highest 52 weeks Rs 232.05. Stock rose 35 percent over the past year and see the lowest 52 weeks by Rs 134.05.