HDFC Mutual Fund buys Restaurant Brands Asia shares despite Goldman Sachs Fund trimming stake in this small-cap stock

Stock market today: Despite range-bound trade in the Indian stock market, Restaurant Brands Asia shares witnessed strong buying on Friday. Restaurant Brands Asia share price today opened with an upside gap at ₹110.09 apiece on NSE and touched an intraday high of ₹113.50 per share, logging an intraday high of around 4 percent. The small-cap stock attracted bulls' attention after the company informed the Indian exchanges about the bulk deal executed on Thursday, which significantly influenced the stock's performance. As per the information available on the BSE website, HDFC Mutual Fund has bought 45.50 lakh company shares, which is around 0.90 percent of the total paid-up capital of the small-cap company. Interestingly, HDFC Mutual Fund bought these shares when global investor Goldman Sachs India Equity Portfolio sold out company shares worth ₹92.76 crore in June 2024.

HDFC Mutual Fund stake buying details

According to the BSE website, HDFC Mutual Fund bought 45.50 lakh Restaurant Brands Asia shares on Thursday, paying ₹110.46 apiece. This means that HDFC Mutual Fund invested ₹50,25,93,000, or around 50.26 crore. The deal was executed through the bulk deal, which was executed during Thursday's dealings.

Goldman Sachs's selling details

It is interesting to note that HDFC Mutual Fund bought a stake in the small-cap company when the global investor Goldman Sachs was trimming its stake in the company. As per the information available in the company's bulk deals history, Goldman Sachs Fund — Goldman Sachs India Equity Portfolio sold out company shares twice in June 2024. On 25th June 2024, Goldman Sachs India Equity Portfolio sold out and offloaded 47,97,361 company shares on 525th June 2024 at ₹104.05. Similarly, the global investor sold 40,59,827 company shares at ₹105.53 on 14th June 2024. This means Goldman Sachs India Equity Portfolio fished out ₹92,75,98,955.36 ( ₹49,91,65,412.05 + ₹42,84,33,543.31) or around ₹92.76 crore from the company's shareholding.

The small-cap stock is available on both the BSE and the NSE. Its current market cap is ₹5,568 crore. Its current trade volume on the NSE is 1.37 crore, and there are still nearly one and a half hours of trading during the Friday session. The 52-week high of this small-cap stock is ₹137.70, whereas its 52-week low is ₹91.50.

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