Damani and his investment firms Bright Star Investments and Derive Trading and Resorts together held about 32.3 per cent stake in VST Industries, up 210 basis points sequentially, which at Tuesday's market value was worth Rs 1,729 crore.

He held 30.2 per cent stake in this company as of June 30, 2021, and 26 per cent as of September 30, 2019. This is even as cigarette stocks, including VST Industries, have underperformed the market due to concerns relating to ESG