Bulk Deals on March 5: Goldman Sachs Asset Management exits Sterlite Tech, sells 2.13% stake for ₹84 crore

Bulk Deal on March 5: Goldman Sachs Asset Management, on Wednesday, March 5, divested a little over two per cent stake in Vedanta founder Anil Agarwal-promoted Sterlite Technologies Ltd for ₹84 crore through an open market transaction. 

According to BSE data, Goldman Sachs Asset Management sold 1.03 crore shares through its affiliate Goldman Sachs Funds—Goldman Sachs India Equity Portfolio, which amounts to a 2.13 per cent stake in Sterlite Technologies.

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The shares were offloaded at an average price of ₹81.04 apiece, taking the deal value to ₹84.10 crore. Meanwhile, Bandhan Mutual Fund bought 60.11 lakh shares or 1.23 per cent stake in Sterlite Technologies for ₹48.69 crore.

The shares were acquired at an average price of ₹81 apiece. The BSE data could not ascertain details of the other buyers of Sterlite Technologies' shares. The stock of Sterlite Technologies fell 4.02 per cent to close at ₹80.29 apiece.

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Other bulk deals today

Abu Dhabi-based IHC Capital Holding sold more than 84 lakh shares of Adani Enterprises on Wednesday for ₹1,832 crore through open market transactions. Diversified group IHC Capital Holding through its subsidiaries -- Green Vitality RSC and Green Energy Investment Holding RSC -- offloaded 84.48 lakh shares or 0.73 per cent stake in Adani Enterprises, as per the block deal data on the BSE.

The shares were disposed of at an average price of ₹2,168.1 apiece, taking the combined transaction value to ₹1,831.82 crore. Meanwhile, Envestcom Holding RSC Ltd sold the same amount of shares in two tranches at the same price.

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On Wednesday, shares of Adani Enterprises rose 4.57 per cent to close at ₹2,244.85 apiece on the BSE. Meanwhile, shares of 10 other Adani group stocks also closed higher, with Adani Green Energy surging more than 10 per cent with a rally in the equity market. On Tuesday, March 4, FMCG major Adani Wilmar Ltd announced the acquisition of GD Foods Manufacturing Ltd, which sells food products such as pickles, garnishes, and sauces under the Tops brand.