Goldman Sachs buys 7.4 lakh shares in India Shelter Finance for Rs 56 crore via block deal #IndiaFinance

Goldman Sachs bought over 7.4 lakh shares in India Shelter Finance Corporation on Monday via block deal at a cost of approximately Rs 56 crore. The American multinational investment bank and financial services company bought shares for Rs 752.35 a piece which was a discount of 5% over the Friday closing price of Rs 791.85 on the BSE.

Goldman Sachs bought shares through Goldman Sachs Funds Goldman Sachs India Equity Portfolio.

The other buyers were SBI Life Insurance Company and ICICI Prudential Life Insurance Company. While the former bought 6.7 lakh shares at Rs 50 crore, the latter purchased 7.7 lakh shares at a price of Rs 58 crore.

The sellers were Nexus Ventures III Limited and Nexus Opportunity Fund II Limited who sold 49.53 lakh and 14.46 lakh shares, respectively.

India Shelter Finance shares fell 8% or by Rs 62 to end the trading session at Rs 730 on the BSE.

India Shelter Finance shares have rallied 33% since its listing on December 20, 2023. In 2024 so far the returns stand at 31% which is an outperformance over the returns given by S&P BSE Sensex in the same period. Sensex’s returns have been 15% on the year-to-date basis.The stock is currently trading below its 50-day simple moving average (SMA).Momentum indicator MFI as reported by Trendlyne is at 19 which means that the stock is trading in an oversold zone. A number above 70 is seen as overbought while below 30 is seen as oversold.

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