The investor who became the owner of 1 lakh crore from one idea!  Now included in the top-10 rich of the country

The investor who became the owner of 1 lakh crore from one idea! Now included in the top-10 rich of the country

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Mumbai. Forbes India Rich List has released the list of the rich. Radhakishan Damani’s entry has been made at number 7 in this list. Radhakishan Damani, the founder of D-Mart, is considered the king of retail business. But he started his career as an investor in the stock market. But an idea changed his fortunes and in just 24 hours his wealth increased by 100 percent.

Let’s know how an investor became a millionaire overnight…

Radhakishan Damani made his debut in the stock market in the 1980s. But the IPO of his company D-Mart came in 2017. Radhakishan Damani was the owner of only one retail company till 20 March 2017, but as soon as he rang the Bombay Stock Exchange (BSE) bell on the morning of 21 March, his wealth increased by 100 per cent.

Also read- These are the 5 richest women of the country, know how much wealth they have?

what happened-On the morning of March 21, when the IPO of Radhakishan Damani’s company was listed in the stock market, his wealth exceeded that of many rich houses. The share of DMart was listed at Rs 604.40, while the issue price was kept at Rs 299. This is a return of 102%. In the last 13 years, there was no such increase in the price of any share on the day of listing.

Included in the top-10 rich of the country- List released by Forbes India It has been told that the total net worth of Radhakrishnan Damani has increased to $ 1430 million (about Rs 1.01 lakh crore). Damani is at number 7 in this list.

This is how the business started- Ramesh Damani started the ball-bearing business in the initial days, but stopped due to loss.

, After the death of his father, he started stock market trading with his brother. He started investing in small companies by looking for better opportunities.

, By the year 1990, he had earned crores by investing. Then he thought of getting into the retail business and slowly his business took off. Today the value of his company is around Rs 1.13 lakh crore.

Also read- Mukesh Ambani became the richest person in the country for the 12th consecutive year, see the Forbes India list here

Always stay away from the headlines- He always wears white clothes and is popularly known as ‘Mr. White and White’ among the stock market veteran investors.

, He started the retail business in 1999, a time when the steps of Kumar Mangalam Birla and Kishore Biyani of Future Group had not even entered this sector.

Earning in the stock market like this – Before investing money in any company, definitely check its financial condition.

, Check that the company does not have too much debt.

, Avoid investing money in any stock for a short period.

, Keep an eye on the good stocks of each sector instead of any one sector.

, Before buying shares, decide when to sell them, think on it.

, Before entering the market, make sure to decide how much you want to invest with.

Tags: business news in hindi, Success Story, successful businessman

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