Goldman Sachs, Jupiter India Fund buy stake in Sula Vineyards. Details here
- Goldman Sachs has bought Sula Vineyards shares worth ₹24.45 crore
After flat debut on Thursday, Sula Vineyards share price settled at ₹329.90 apiece on NSE, near 7 per cent lower from its upper band of ₹357 per equity share. However, some FIIs saw this tepid Sula Vineyards listing as an opportunity to invest in the brewery company. Goldman Sachs and Jupiter India Fund bought Sula Vineyards shares after muted debut of the wine maker and seller company's stock on Indian bourses.
As per the NSE bulk deals available on the official website of NSE, Goldman Sachs India Equity Portfolio bought 6,95,864 Sula Vineyards shares on Thursday session paying ₹351.48 apiece. This means, Goldman Sachs invested ₹24,45,82,278.72 or near ₹24.45 crore in Sula Vineyards Limited after listing on December 22, 2022. Likewise, Jupiter India Fund bought 6,32,155 Sula Vineyards shares paying ₹361 apiece. This means Jupiter India Fund invested ₹22,82,07,955 or around ₹22.82 crore in Sula vineyards Ltd. So, these two foreign institutional investors (FIIs) have pumped ₹47.27 crore on day one of Sula desk.
Sula Vineyards shares listed at ₹358 on BSE and at ₹361 on NSE. However, the stock soon witnessed profit booking and it went below its upper price band of ₹357 per equity share and went on to hit intraday low of ₹328.30 apiece on NSE. On Thursday session, Sula Vineyards shares ended with a market cap of ₹2,888 and its trade volume on the first day of trading was more than 80 lakh.
Some brokerage have reported that Sula Vineyards shares are one of the portfolio stocks that one can buy for long term. Those who have this stock in their portfolio, they have been advised to hold the stock with stop loss at ₹319. High risk traders and investors can also buy the scrip at current levels for immediate target of ₹380 whereas they are also advised to maintain stop loss at ₹319 apiece levels.
Sula Vineyards share price today opened with upside gap and went on to hit intraday high of ₹347.95 apiece on NSE.
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