Radhakishan Damani's company exits this underperforming MNC stock

Brightstar Investor, promoted by ace investor Radhakishan Damani, exited underperforming MNC stock 3M India in the September quarter. The scrip in trade ended with a cut of over 3% on Tuesday at Rs 23,748.1.

As per the shareholding pattern of the company for the September quarter, Brightstar Investor does not find a mention in the list of public shareholders for 3M India. However, in the June quarter, the firm held 1,66,700 shares, equivalent to a 1.48% stake in the company.

Radhakishan Damani, according to the latest shareholdings filed, holds 15 stocks worth around Rs 197,314.4 crore, Trendlyne data shows. Some of his top holdings include Astra Microwave, Blue Dart, India Cements, Andhra Paper, Trent, United Breweries, VST Industries, Avenue Supermarts, Mangalam Organics, Metropolis Healthcare, Jubilant Foodworks and Spencer’s Retail, among others.

3M India, based out of Bengaluru, is a technology company operating across segments, including industrial, packaging, healthcare, safety, graphics and consumer.

For the quarter ended June, it reported a consolidated total income of Rs 955.05 crore, up 2.17 % from last quarter's total income of Rs 934.81 crore. It reported net profit after tax of Rs 84.26 crore in Q1.

The scrip has been a laggard with a negative return of 7.67% in the last 1-year.