Ace investor Ramesh Damani increases stake in this multibagger stock

Ace investor Ramesh Damani has increased his stake in Panama Petrochem. The investor bought another 20,000 shares in the September quarter in this lubricants company. According to the latest shareholding pattern, the investor held 6,36,379 equity shares of the firm, equating to a 0.27% stake.

Shares of the company were trading a tad higher at Rs 282.95 per share on the NSE.

In the previous quarter ended June 2022, Damani held 6,16,379 equity shares in the company or a 0.26% stake.

The investor as per the latest filing available holds a total of four stocks with an estimated net worth of Rs 97.4 crore, Trendlyne data shows.

Panama Petrochem is a multibagger stock with three-year returns of 289%. The stock in the last one year has delivered just 10% return.

Panama Petrochem with an m-cap of Rs 1,700 crore is a smallcap entity. The company founded in the year 1975 is among the leading manufacturers and exporters of petroleum specialty products. Panama Petrochem has four manufacturing units in India namely in Ankleshwar (Gujarat), Daman (Union Territory), Dahej (Gujarat, SEZ) and Taloja (Raigadh).