Goldman Sachs Buys into Samvardhana Motherson: A Strategic Move

Goldman Sachs acquired shares worth Rs 87 crore from Samvardhana Motherson International. Simultaneously, Hong Kong-based Kadensa Capital offloaded an equivalent number of shares. Samvardhana's shares dipped slightly on BSE. The auto components firm showed substantial growth in its latest financial report.

In a strategic financial maneuver, Goldman Sachs on Tuesday acquired shares worth Rs 87 crore of the auto components leader, Samvardhana Motherson International, through its Singapore-based subsidiary. This open market transaction involved the purchase of 65.48 lakh shares at an average price of Rs 132.7 each, according to data from the BSE block deal.

Simultaneously, Kadensa Master Fund, a branch of the Hong Kong asset management firm Kadensa Capital, sold an equivalent number of shares at the same rate. Despite these significant moves, shares of Samvardhana Motherson International saw a minor dip of 2.13%, closing at Rs 131.15 on the BSE.

Notably, Samvardhana Motherson recently reported impressive financial growth, with a consolidated net profit of Rs 879 crore for the third quarter, ending December 31, 2024. This marks an increase from the Rs 542 crore net profit reported for the same period last fiscal, with total revenue from operations rising to Rs 27,666 crore.

(With inputs from agencies.)