Goldman Sachs buys stake in Bikaji Foods. Shares surge on Day 2 of listing

Global investment agency Goldman Sachs Fund has bought stake in newly listed Indian company Bikaji Foods International Ltd. As per the information available on NSE website, Goldman Sachs Fund has bought 17,45,354 Bikaji Foods shares paying ₹324.50 apiece. This means, Goldman Sachs Fund has invested ₹56,63,67,373 in this newly listed stock. The global investment agency bought these shares through a bulk deal executed on 16th November 2022 i.e. on Bikaji Foods share listing date.

This stock market news of Bikaji Foods has gone down well among the market bulls. On day two of listing, Bikaji Foods share price continue to ascend after delivering decent listing premium on Wednesday session, Bikaji Foods share price today opened upside and went on to hit intraday high of ₹334.70 apiece on NSE, surging over 11 per cent from its IPO price of ₹285 to ₹300 per equity share.

On Wednesday, Bikaji Foods shares listed at ₹321.15 apiece on BSE and at ₹322.80 per share on NSE, delivering more than 7 per cent listing premium to the allottees. However, Bikaji Foods share price closed at ₹317.45 levels on NSE after making its listing day's high of ₹334.70. In early morning deals on Thursday, Bikaji Foods share price has made its intraday high of ₹334.70 apiece. So, the stock is yet to breach its listing day's high of ₹334.70 levels.

Bikaji Foods share price outlook

Expecting further upside in Bikaji Foods shares, Anuj Gupta, Vice President — Research at IIFL Securities said, "Stock is looking strong and FIIs and DIIs are showcasing interest in the stock that may support Bikaji Foods shares to sustain around its listing price. Those who applied to this IPO for listing gain can hold the stock with a trailing stop loss at ₹310 whereas fresh investors can buy the scrip at CMP maintaining stop loss at ₹298. Bikaji Foods share price is expected to go up to ₹280 apiece levels in near term."

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