In this success post, we are going to share the story of Radhakishan Damani, a Mumbai based investor and entrepreneur. The self-made billionaire is the owner of the country’s third-largest mega retail store chain, Dmart.
Radhakishan Damani considers the first generation investor Chandrakant Sampat as his mentor. He claims that he has learned the techniques of dealing with risky business situations from Sampat. He started his career as a business trader, but a financial crisis at his home after his father’s death led him to become a stock market investor.
A few of the Radhakishan initial years in the stock market were spent in speculation and observation. At the time of this phase, he closely followed the stock market strategies used by the Manu Manek, one of the most dreaded market operators of the time.
Radhakishan gained a foothold in the business only after he overpowered the infamous Indian stockbroker Harshad Mehta.
At the time of the late 1980s and the early 1990s, Radhakishan invested heavily in the Multinational stocks and eventually became one of the leading stock market investors in the country.
He now holds the stakes in companies such as VST Industries, United Breweries, Blue Dart Express Limited.
Some of his best-performing stocks from his portfolio are ‘VST Industries,’ ‘Sundaram Finance,’ ‘India Cements,’ and ‘Blue Dart.’
Radhakishan Damani Childhood & Early Life
Radhakishan was born in the year 1954, into an Indian Marwari family. His father, Shivkishanji, was also a part of the stock market business.
Radhakishan attended the ‘University of Mumbai’ to pursue the B.Com but dropped out to start his career as a businessman.
Radhakishan Damani Career
Radhakishan started his career as a trader in the business of ball bearings. Back then, he had no interest in the stock market. Moreover, the untimely death of his father led him to step into the stock market.
Radhakishan closed his business and joined his brother, who was already part of the stockbroking business. Radhakishan was then in his late 20s, then, and had no practical knowledge about the business. Moreover, Radhakishan Damani’s first move was to observe and learn the functioning of the stock market. He began speculating and made his first stock market investment at the age of 32.
Radhakishan Damani enriched his experience of the stock market by watching Manu Manek, the dreaded market operator of that time, who ruled the ‘Dalal Street’ in the year 1980s.
Radhakishan Damani analyzed the operational strategies of the Manel closely. It took him a few years to apply Manek strategies practically. This later helped him overpower Harshad Mehta, the mastermind of 1992 securities cam, which is known as one of the biggest scams in the history of the Indian stock market.