Goldman Sachs Singapore PTE on Monday sold 0.75% stake in TVS Motor Company for ₹148 crore, through open market transactions.
The bulk deal data available with the BSE showed that Goldman Sachs Singapore PTE sold 3.55 million shares, or 0.75% stake in the bank. The shares were disposed off at an average price of ₹417.05, valuing the transactions at ₹147.95 crore.
TVS Motor Company reported a net loss of ₹139 crore for the first quarter of 2020-21 financial year against a net profit of ₹142 crore in the April-June period of 2019-20. Revenue decreased 68% to ₹1434 crore in the first quarter of 2020-21 compared to ₹4469 crore in the same period of last year.
From the beginning of the year, TVS Motor Company fell 11% against a loss of 7% in the benchmark index, Sensex. From April lows, the stock gained 74% while Sensex was up 33%.
TVS Motor Company settled for the day on the BSE at ₹418.55, down 0.64% from the previous close, while the benchmark index, Sensex gained 0.37% to 38182.08 points.
