Shares of VST Industries were trading down on Wednesday after veteran investor Radhakishan Damani sold some of his stake in the company.

What Happened: Radhakishan Damani, the founder and promoter of DMart sold 1 lakh shares at an average price of ₹439.19 on September 17 through bulk deals according to data from stock exchanges.

The total value of the transaction is ₹4.39 crore, which represents a 0.06% stake in a firm. This is the second time in the month that the veteran investor selling shares in the company. 

On September 9, Damani sold 1.73 lakh shares which makes up 0.10% stake in the company at an average price of ₹442.98. 

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Damani had a 39.8% stake in VST Industries as of June 30, 2024. This is noticeably higher than the promoter holding of 32.16% in the company. He had a 3.47% stake in his name. Damani's Bright Star Investments Private Ltd holds a 25.95% stake in VST Industries holds the majority of his shares. 

Besides this, Derive Trading and Resorts, another entity controlled by Radhakishan Damani had sold 1.29 lakh shares at an average price of ₹480.57 in VST Industries on September 6. 

Price Action: Shares of VST Industries were down 2.36% to ₹432.50 on Wednesday. The stock has fallen almost 8% from its all-time high of ₹486.15 on September 6. 

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