Why is Radhakishan Damani betting on India Cements?

The DMart founder is looking to work his magic on the troubled cement manufacturer

Just like legendary investor Warren Buffett has hordes of disciples who track his every word and investment he makes, there is one investor who is respected by everyone on Dalal Street. In fact, investing legend Rakesh Jhunjhunwala calls him his teacher and for good reason. From dropping out of college to becoming one of the richest men in the country, Radhakishan Damani is now rightly known as ‘The Retail King’. The billionaire owns nearly 75% in Avenue Supermarts. Even the COVID-19 crisis could not break the good run of DMart, the most valued Indian retailer, which trades only about 7% lower from its all-time high of Rs.2,560. This, despite the management warning that profitability might be hit in the current fiscal. Besides the company’s fundamentals and competitive pricing in the space, many investors swear by Damani’s track record.