US-based Goldman Sachs buys Rs 281 crore worth of shares in India's HAL and Zomato

Goldman Sachs (Singapore) Pte has purchased shares in both Hindustan Aeronautics Ltd and Zomato during block deals on March 28, according to data released by stock exchanges.

In both transactions, Kadensa Master Fund was the seller, indicating a significant move by the global financial services giant to deepen its position in these companies.

Stake purchase in HAL

Goldman Sachs acquired 385,774 shares of Hindustan Aeronautics Ltd at an average price of Rs 4,176.25. Kadensa Master Fund sold the same number of shares at the same price. HAL closed at Rs 4,176 on the BSE that day, which was 0.35% higher than the previous close.

The stock has risen more than 35% in the past month, helped by positive news such as the start of engine supplies for light aircraft by GE and two new contracts signed with the Ministry of Defence on March 28.

Investment in Zomato

Goldman Sachs also bought 6,007,412 shares of Zomato at an average price of Rs 199.50, with Kadensa Master Fund again being the seller. Zomato's share price ended the day at Rs 201.50 on the BSE.

The development comes more than two months after the Deepinder Goyal-led company reported a 57.24% drop in its net profit to Rs 59 crore for the quarter ended December 2024 (Q3 FY25). The figure stood at Rs 138 crore in the same period a year earlier. 

Despite the profit decline, Zomato's revenue soared 64% to Rs 5,405 crore in the same period, up from Rs 3,288 crore a year ago.