Goldman Sachs purchased 6.548 million shares of Samvardhana Motherson International, boosting the stock price by 3%. The deal was executed at ₹132.7 per share. The company's Q3 profit surged by 62% to ₹879 crore, while revenue increased by 8% to ₹27,666 crore.
Stock Market: After a b rally in recent days, the stock market is witnessing profit-booking pressure. Profit-booking, which began at higher levels on Tuesday, continued to impact trading on Wednesday. However, stock-specific movements persisted, with some stocks showing strength. In this context, shares of Samvardhana Motherson International, an auto component manufacturer, saw a rise of over 3% on Wednesday. This surge followed an increase in shareholding by brokerage firm Goldman Sachs.
Samvardhana Motherson Shares Rise by 3%
On Wednesday, Samvardhana Motherson shares reached ₹135.18, compared to ₹131.46 at the close of trading on Tuesday. The stock has risen approximately 10% in the last month and over 35% in the past six months. Investors have also received a 15% return over the past year.
Goldman Sachs Purchases ₹87 Crore Worth of Shares
On Tuesday, Goldman Sachs (Singapore) Pte. Ltd. purchased 6.548 million shares of Samvardhana Motherson. This deal was executed at ₹132.7 per share, resulting in a total transaction value of ₹86.90 crore. Simultaneously, a Hong Kong-based asset management firm, Capital, sold a similar quantity of shares through its branch, Cadenza Master Fund.
Strong Quarterly Results, 62% Surge
The company delivered exceptional performance in the third quarter of fiscal year 2024-25. Net profit increased by 62% to ₹879 crore, compared to ₹542 crore in the same quarter of the previous year. Furthermore, total operating income rose by 8% to ₹27,666 crore, up from ₹25,644 crore in the same quarter last year. EBITDA also strengthened, reaching ₹2,776 crore. However, the company's total expenses increased by 7%, reaching ₹26,559 crore.
