Radhakishan Damani Success Story | Radhakishan Damani Net Worth

Radhakishan Damani Success Story | Radhakishan Damani Net Worth

Radhakishan Damani had a small ball bearing work. Which was not going well and at the same time his father passed away. And this was going to be the turning point of his life.

Now all the responsibility of the house came on his shoulders. Now he either had to run his father’s business. He wanted to start a new business. His uncle was a stockbroker. He decided to work with Chachaji.

Now Radhakishan Damani became a share broker, after some time he realized that we can earn more share trading than the money we are working with as a share broker.

Radhakishan Damani Story

Now he made up his mind to do share trading, he started trading in the stock market, because earlier trading was not online like today. Shares used to be physically traded. And the shares were also available in physical form which was called a share certificate.

Now the trading business of Radhakrishnan Dhamani was started. And now he had started playing big bets. Now his eyes fell on a person who used to come to the stock market every day but did not do any trade. But when he did a trade, the whole market would shake.

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Radhakishan Damani Guru

The name of that man was Manu Manik. Manu Manik was also known as Black Cobra in the stock market. Manu Manik used to sell money shares first and buy them when the price of the shares fell. But he used to do it in very large quantities. He used to trade very little throughout the year, but when he used to do so, the price of the shares of that company used to drop a lot.

Radhakishan Damani started accepting Manu Manik as his guru. Now he would go to the stock market every day and go home without doing any trade. In the meantime, his association with Manu Manik started to flare up. And going on and on started getting stronger.

Harshad Mehta Bull Run

By now Harshad Mehta’s bull run had arrived, and the shares were running groaning to the horse without reins. No one could understand what was happening. No one could predict the value of the shares. Radhakishan Damani had realized that Harshad was manipulating the shares by taking bank money.

Radhakishan Damani started shorting the shares but the shares were taking the name of stopping. Radhakrishnan Dhamani was getting worse day by day. Now he started borrowing to short more shares. On the other hand, the stock market was getting reduced and it was not taking the name of stopping. Now his entire capital was at stake. He had nothing left to corner.

A few days later, there was a bad print in the newspaper “Harshad Mehta Arrested”. There was a case of share manipulation and bank fraud against him. Now the stock market broke that all the losses of Radhakrishnan Dhamani were covered and he had the highest wealth ever.

Radhakishan Damani once said that “if Harshad Mehta had held his position for seven more days, he would have to go out with a bowl on the road”.

Radhakishan Damani Dmart Story

After this Radhakrishnan Dhamani never looked back, and from here he decided to get into business. A few days later he established D Mart (Avenue Supermart). Which is a retail store chain that provides daily use items to its customers at the lowest cost. Dmart is one of the largest retail store chains in India.

Dmart Stock was listed on the stock exchange in 2017 at 260 per share and it’s now trading at 4000 per share. It has given 15 times returns.

Radhakishan Damani Net Worth

Today Radhakrishnan Dhamani is the second richest person in India. Radhakishan Damani net worth is 1.42 lakh crores rupees. He took a decision in life, his result is in front of us. With this, you can understand what is the importance of decisions in life. That’s why we should take every decision of our life carefully.

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How Radhakishan Damani started DMart?

Radhakishan Damani operated a franchise of Apna Bazaar, a cooperative department store. After this he was passionated for retail chain business. And he decided to started a own hypermarket chain, DMart, the first store opened in Powai in 2002.

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