“From Rags to Riches”

 

- Story of Radhakishan Damani

Most of you may have seen and visited this place called ‘DMart’. DMart is India’s largest retail hub chain with 246 supermarkets across the country.

Do you know the owner of this supermarket chain??

Its none other than Mr. Radhakishan Damani often known as “Mr. White and White”. 

Introduction: -

RadhaKishan Damani is a trader, entrepreneur and one of the top-notch investors in the Indian Market. He is the second richest billionaire after RIL’s Mukesh Ambani with current net-worth of 2330 crores USD. 

A major name with an independent nature, he has consistently kept himself far from the media spotlight and shows up on public occasions, not at all like others do.

A modest personality, he generally inspires many to be a character whose action speaks louder than his words.

History: -

Like many of us, he was born in a middle-class family in Bikaner, Rajasthan in the year 1954. His father was a broker and he had an elder brother who use to help his father in the broking business.

In his education career he did not do much and considers himself as an uneducated person. He dropped out of his B.Com journey to start his own business. Later he started his own ball-bearing business and was doing quite well in it. But due to his father’s demise he had to quit his business and enter his family’s stock broking business.

Being a rookie in stock broking he used to just observe and speculate the trade rather than getting himself involved in the trading. He made his first investment at the age of 32 and soon started to make money from it. It was not always profitable but he used to learn from his own mistakes.

Turning point: -

In his early stages of trading, he use to just observe and learn the different market strategies. He was a very flexible trader and believed in making profits using different market swings.

During the very famous Harshad Mehta scam he made a lot of profit using ‘short selling’ which is selling first and buying later which was not at all common at that time. Damani made a lot of money during this time and earned a reputation in the stock market.

But later he changed his approach and started long-term investing after getting influenced by investor Chandrakant Sampat. Sooner he invested in companies like VST industries at an average of 85 and is currently trading at 3466 rupees and further in India cement which made him profit +115% to his portfolio.

Conclusion: -

Success is nothing but the consistency and dedication of doing your job. But for many of billionaire’s it is a journey of failures and accomplishments. Like every investor RK Damani also faced many losses but he always learnt through these losses and is therefore a successful investor.

RK Damani is one of few self-made billionaires. From living in rented 100 bucks’ apartment to buying a property in Mumbai worth 1001 crores are truly an inspiration for many of us.

Written by:-

Raghav Mundada, 111911032, Metallurgy.

Image References:-

https://img.etimg.com/thumb/msid-77335514,width-1200,height-900,imgsize-363172,overlay-etmarkets/photo.jpg

https://bsmedia.business-standard.com/media-handler.php?mediaPath=https://bsmedia.business-standard.com/_media/bs/img/article/2020-04/08/full/1586363718-3016.jpg&width=1200

NOTE:-

This blog is meant for Educational Purpose only .We do not own any Copyrights related to images and information , all the rights goes to their respective owners . The sole purpose of this blog is to Educate, Inspire, Empower and to create awareness in the viewers. The usage is non-commercial(Not For Profit) and we do not make any money from it.

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