A 61 years old stock market genius, Radhakishan Damani is now the founder of a famous retail chain, D-Mart. Before becoming a famous entrepreneur, he was a great share trader and investor. Currently, D-Mart is a Rs. 39,400 Cr giant, beating its two biggest rivals, Aditya Birla Fashion and Future Retail.
D-Mart has 91 stores across the country, making it third largest retail chain in the world. He owns 52% of shares in Avenue Supermarts Ltd, a D-Mart’s parent company, and 16% stakes on Bright Star Investments, his investment group. He is ranked among top 15 Billionaires on Forbes with $5.4 Billion of overall net worth.
Past Life of India’s Warren Buffet – Mr. Radhakishan Damani
Initially, Mr. R.K. Damani was a ball bearings trader, without any intension to start stock trading. But his fate wanted something else from him. When his father passed away, he had to shut down his business and start stock broking with his brother. He was 32 years old then, without any previous experience or knowledge about it, and how market works. Shortly, he understood the fact that just watching market was not the option to grow capital. So, he started investing for long term, by taking inspiration from Mr. Chandrakant Sampat, a legendary investor.
His strategy was very simple. He played for long term, like for 5 to 10 years. He would find out if a product can go far into the future. His judgment started getting right. He was standing with the ranks of biggies within few years. He was very fast in booking and cutting losses unlike other players. He quickly built his fortune and bought stocks of MNCs during the 90s. After several victories to become the king of stock market, he left the trading and ventured into retail industry to establish D-Mart in 2001. He is truly a humble person who always remains as a source of inspiration for young entrepreneurs in India.
About D-Mart
Operated and owned by Avenue Supermarts Ltd (ASL), D-Mart is a supermarket and hypermarket chain India. It was first launched by Mr. R.K. Damani in Mumbai in the year 2000. It is widely regarded as India’s No. 1 shopping destination to meet all your household requirements. It has wide range of products to offer, including food, home utility products, beauty products, toiletries, kitchenware, garments, bath and bed linen, Toys & Games, home appliances, Footwear, Stationary, etc. The products available here are priced lower than the market.
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