Gokaldas Exports drops over 3% as Goldman Sachs bought majority stake
2 min read . Updated: 09 Mar 2023, 10:04 PM IST
Premium- The shares of Gokaldas Export falls today in the trade to the tune of 3.53% on the NSE after Goldman Sachs Collective Trust on March 9 bought a majority stake through a bulk deal in the company.
The shares of Gokaldas Export falls today in the trade to the tune of 3.53% on the NSE after Goldman Sachs Collective Trust on March 9 bought a majority stake through a bulk deal in the company. 7,20,634 shares of Gokaldas Exports were purchased by Goldman Sachs Collective Trust at an average cost of ₹391.68 per share. At an average price of ₹390, Aditya Birla Sun Life Mutual Fund also acquired roughly 8 lakh shares of Gokaldas Export.
Clear Wealth Consultancy, one of the sellers, sold 60 lakh of the company's shares at ₹390.91 per share. Clear Wealth Consulting Services LLP had a 20.56 percent promoter ownership in Gokaldas Exports in Q3FY23. Through another bulk deal, Ashoka India Equity Investment Trust bought a majority stake of 3,59,600 shared at an average price of ₹390.51 per share and Bonaza Commodity Brokers sell 5,06,448 shares at a price of ₹393.23 and also bought 4,99,452 shares at ₹391.66 per share in Gokaldas Export.
During Q3FY23, the company recorded a revenue of ₹528.1 Cr, up by 0.8% from ₹524.1 Cr recorded in Q3FY22. The company said its EBITDA reached ₹78.4 Cr in Q3FY23, up by 24.8% YoY from ₹62.8 Cr in Q3FY22. The company's net profit stood at ₹46.6 Cr during the quarter ended December 2022 up by 34.8% YoY compared to ₹30.1 Cr recorded in the quarter ended December 2021.
“We view the long-term macroeconomic factors as very favourable for the business. With this in mind, we are progressing well with our capex plan. Our growth trajectory for this financial year is intact, while we continue to build a firm foundation for strong growth in the years ahead," said Sivaramakrishnan Ganapathi, Vice Chariman and Managing Director of Gokaldas Export said in Q3FY23.
The shares of Gokaldas Exports closed today on the NSE at ₹393.20 apiece, down by 3.53% from the previous close of ₹407.60. The stock recorded a total volume of 1,07,53,251 shares compared to the 20-Day average volume of 299,461 shares.