Radhakishan Damani buys 1.03% stake in Astra Microwave; share price jumps 4%

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Ace investor and the owner of supermarkets chain D-Mart Radhakishan Damani bought 1.03 percent stake in defence sector player Astra Microwave Products in the June quarter of the financial year 2021.

Shares of Astra Microwave Products jumped 4.35 percent to close at Rs 122.25 on BSE.

In a BSE release on July 10, Astra Microwave said Damani bought 8,96,387 shares of the company during the June quarter.

Damani did not have a stake in the company in the March quarter.

Among the mutual funds, Sundaram Mutual Fund, ICICI Prudential Infrastructure Fund and L&T Emerging Opportunities Fund held 5.45 percent, 1.36 percent and 1.33 percent stake, respectively, till the end of the June quarter.

Foreign Portfolio Investors (FPIs) held a 0.48 percent stake in the company in the same period.