IndusInd Bank jumps 4% as Goldman Sachs buys stake
Published On: Thursday, April 16, 2020 | By: Team KnowMyStock
Global broking and research firm Goldman Sachs buys shares of IndusInd Bank worth over Rs 176 crore in the private sector lender through an open market transaction. In the past three trading days, the stock has risen 12 per cent. Goldman Sachs (Singapore) PTE-ODI bought 1.4 million shares at an average price of Rs 430.3 apiece, bulk deal data on the National Stock Exchange shows. Singapore-based investment banking firm UBS Principal Capital Asia acquired a 0.85 per cent stake in the bank on April 7th.UBS acquired 53,83,066 shares at Rs 367 per share. The deal value stood at Rs 197.55 crore and could be one of the reasons for the rally in the stock. Deposits fell 10-11 per cent and almost two-third of reduction is on account of government-related accounts – this is largely related to general private sector bank stance.
With the past three days' gain, IndusInd Bank's stock price has rallied 87 per cent from its 52-week low level of Rs 235.55, touched on March 20, 2020. It had touched a 52-week high of Rs 1,824 on April 18, 2019.
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