The transaction took place at a discount of 4% to the stock’s previous close price. Shares of the apparel exporter ended 3.6% down at Rs 393.15 on the NSE.
As of December-end, Clear Wealth held over 20% stake in Gokaldas Exports. In September 2022, the promoter entity had sold 2.5% stake through the open market.
In separate deals, Aditya Birla Sun Life and Goldman Sachs bought shares of the company. Aditya Birla, through two of its funds, bought 7,69,230 shares for about Rs 30 crore. The fund was not holding stake in the company before.
Goldman Sachs bought 7,20,634 for Rs 28 crore and raised its stake in the company. As of December end, it held 4.67% stake.
The stock is quite popular among the mutual funds. MFs cumulatively held 21.85% stake in the apparel exporter as of December-end. SBI Mutual Fund, Tata Mutual Fund, Nippon Life, HSBC Mutual Fund, and Quant Mutual Fund are the prominent domestic institutional investors.
Among foreign portfolio investors, Goldman Sachs, Can Lah Investments, HSBC Global, and Abu Dhabi Investment Authority are prominent names.
In the last one year, shares of the company have underperformed Nifty50. The stock has gained over 3% whereas Nifty 50 has given about 8% returns.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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