Goldman Sachs buys stake in Bikaji Foods. Shares jump on the second day of listing

 

• Bulk Deals NSE: Goldman Sachs Fund bought 17,45,354 shares of Bikaji Foods at ₹324.50 per share.

Global investment agency Goldman Sachs Fund has bought stake in newly listed Indian company Bikaji Foods International Limited. As per information available on NSE website, Goldman Sachs Fund has bought 17,45,354 shares of Bikaji Foods by paying ₹324.50 per share. 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 November 16, 2022 i.e. Bikaji Foods share listing date.

This news of Bikaji Foods share market has gone down well amid the market rally. On the second day of listing, Bikaji Foods share price continues to climb after paying a good listing premium in Wednesday's session Bikaji Foods share price today opened with an uptrend and touched an intraday high of ₹334.70 on NSE, compared to Rs. more than 11 percent. IPO price ₹285 to ₹300 per equity share.

On Wednesday, shares of Bikaji Foods were listed at ₹321.15 per share on BSE and ₹322.80 per share on NSE, fetching over 7 per cent listing premium to allottees. However, Bikaji Foods share price closed at ₹317.45 on NSE after making its listing day's high of ₹334.70. In Thursday morning deals, the share price of Bikaji Foods hit a day's high of ₹334.70. Hence, the stock is yet to cross its listing day high of ₹334.70.

Bikaji Foods share price outlook

Expecting further upside in Bikaji Foods shares, Anuj Gupta, Vice President - Research, IIFL Securities said, “The stock is looking strong and FIIs and DIIs are showing interest in the stock which is pushing Bikaji Foods shares above its listing price. Those who have applied for this IPO for listing gains can hold the stock with trailing stop loss at ₹310 while new investors can buy the scrip at CMP while maintaining stop loss at ₹298 . In the near future."