Panama Petrochem Shares Rise Over 90% In Six Months As Ramesh Damani Raises Stake Again
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Ramesh Damani has increased his stake in Panama Petrochem for the second consecutive quarter, taking his holding to 1.22%. The stock has surged more than 90% in six months.
Panama Petrochem shares traded higher on Monday, October 12, after veteran investor Ramesh Damani raised his stake in the specialty petroleum products company for the second consecutive quarter, adding to attention on a stock that has surged more than 90% in the past six months.
The stock rose around 1% to ₹501.10 during the session and touched an intraday high of ₹508.60. Panama Petrochem shares have climbed from around ₹262 to above ₹500 over the past six months.
Damani held 7,40,957 shares, or a 1.22% stake, in Panama Petrochem at the end of the September quarter, up from 7,00,956 shares, or 1.16%, at the end of June. This means he added 40,001 shares during the July-September period.
The latest purchase marks the second consecutive quarter in which Damani has increased his holding. His stake had risen from 1.12% in March to 1.16% in June before increasing further to 1.22% at the end of September.
Ramesh Damani Raises Panama Petrochem Stake For Second Straight Quarter
Damani's holding in Panama Petrochem has increased by 62,501 shares over the past two quarters.
He held 6,78,456 shares at the end of March before adding 22,500 shares during the June quarter, taking the holding to 7,00,956 shares. Another 40,001 shares were added during the September quarter, lifting his total holding to 7,40,957 shares.
The shareholding pattern does not disclose the dates or prices at which the shares were acquired during the quarter.
Damani has been a shareholder in Panama Petrochem for several years. His latest increase comes at a time when the stock has seen a sharp rerating following a strong June-quarter performance.
Panama Petrochem Shares Up Over 90% In Six Months
Panama Petrochem shares have risen from around ₹262 to more than ₹500 over the past six months, translating into gains of over 90%. The stock has also advanced around 65% so far in 2026.
The rally accelerated after the company's June-quarter earnings. Panama Petrochem reported revenue of around ₹1,735 crore for the quarter, compared with ₹693 crore in the year-ago period, while profit rose sharply to ₹309 crore.
Panama Petrochem manufactures specialty petroleum products, including white oils, liquid paraffin, transformer oils and petroleum jelly, which are used across pharmaceuticals, cosmetics, textiles, rubber, power and other industries.
The stock had touched a 52-week high of ₹599.60 in August following its June-quarter results before giving back some of those gains.
With Damani increasing his holding for a second consecutive quarter after the stock's sharp six-month rally, Panama Petrochem's latest shareholding pattern has put the stock back in focus ahead of its next quarterly earnings.
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This article is for informational purposes only and should not be considered investment advice from Kotak Neo. For compliance T&C and disclaimers, Visit www.kotakneo.com/disclaimer
Rochelle Britto has spent 8+ years decoding India's markets, businesses, and consumer economy, reporting for ET Prime and Times Internet along the way, covering the stories behind the numbers.
A Mumbai native and perpetual planner of the next holiday, she stays far, far away from the eternal question, “Where are we going next?” When she's not chasing headlines, she's chasing new cultures, open roads, and a bit of quiet in nature.
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