Goldman Sachs sells entire stake: Goldman Sachs has made a big change in its portfolio this trading week. On one hand, Goldman bought 7.28 lakh shares of BSE on Wednesday and then the next day on Thursday, it sold all the shares of a small cap ISGEC Heavy Engineering. These shares have been sold by Goldman Sachs Funds-Goldman Sachs India Equity Portfolio. Goldman had 10,43,192 shares equivalent to 1.42 percent stake, which the company sold through a block deal at a price of Rs 915.49. However, despite this sell-off, when the market opened the next day, even in a weak market, its shares closed at Rs 995.30 (ISGEC Heavy Engineering Share Price) with a gain of 6.49 percent on BSE.
About ISGEC Heavy Engineering
Isaac Heavy Engineering manufactures heavy machinery used in many sectors. Its shares more than doubled investors' money in 9 months last year. It was at a one-year low of Rs 810.00 on March 14, 2024 last year and jumped 107 times from this level to a record high of Rs 1677.25 on February 10, 2024. It is currently about 41 per cent downside from this record high. Talking about the business health of the company, its consolidated revenue jumped from Rs 1,498 crore to Rs 1501 crore on an annual basis in the December 2024 quarter. However, during this period the revenue slipped sharply from Rs 62 crore to Rs 20 crore.
At what price did Goldman buy BSE shares?
On Thursday, Goldman Sachs Funds-Goldman Sachs India Equity Portfolio sold the shares of Issac Heavy Engineering and removed it from the portfolio, while on the other hand, a day earlier i.e. on Wednesday, Goldman Sachs (Singapore) acquired a large stake in BSE. Goldman has bought 7.28 lakh shares of it and at a price of Rs 5,504.42 per share.
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