The stock market is an investment avenue that has the potential to change your fortunes. Radhakishan Damani is one man who become a successful investor, trader, broker and eventually the founder of one of India’s biggest retail chain, D-Mart. Many people enter the stock market taking inspiration from him. He is a role model for many people who trade and invest in the stock market. In this article, you will learn about the inspiring story of Radhakishan Damani.
Radhakishan Damani Success Story
RK Damani was born in the year 1954. He was born in a Marwari family. His father, Shivkishanji Damani, was also a participant in the stock market. RK Damani did not consider himself as a highly educated person. He was a drop out from college. He was pursuing B Com from the University of Mumbai. Before entering the stock market he had a small ball bearing business.
RK Damani started his journey of investing in the stock market at the age of 32. Like any other investor in the market, he was still trying to figure out what’s and how’s of the functioning in the market. In his initial days, he would just review the market and tried to understand it closely.
He gained a real foothold in the stock market when he overpowered Harshad Mehta, the infamous stockbroker of India. During the late 1980s and early 1990s, he made his major investments in stock of multinational companies and gradually become the leading stockbroker of the country. He now holds stakes in many companies in India.
His mentor in the stock market was Chandrakant Sampat. He was the first value investor in India. Influenced by his style of investing in the market, Mr. RK Damani made many successful investments in his life. These investments not only made him a billionaire but also one of the most valuable investors in the country.
Journey from Successful Investor to Giant Retailer
RK Damani has had a remarkable journey from being a stock market investor to a giant retailer. He was always interested in the consumer retail business. In 2002, he opened D-Mart. The D-Mart stores have products including toys & games, stationery, beauty products, food, toiletries, bed and bath linen, garments, kitchenware, home appliances, footwear and more. The objective of D-Mart is to offer valuable products to its customers at reasonable rates. Its brands include D Mart Premia, D Mart, Dutch Harbour, D Mart Minimax, D Homes, etc. In 2019, there were 176 D-mart stores across more than 12 states in India.
Mr. RK Damani is one of the legendary investors in India. He is not only known for making value investment but also for the knowledge and courage he had to beat the scam of Harshad Mehta. Rakesh Jhunjhunwala is also one of his inspirations in the market. From being a value investor to a giant retailer, his journey speaks a lot about his character.
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