Synopsis:
On September 22, through block deals, Goldman Sachs acquired shares in companies such as Fortis Healthcare Ltd and Max Financial Services Ltd from Aware Super, reflecting confidence in their long-term growth potential.
Goldman Sachs has recently made strategic investments in Indian equities by acquiring stakes in select companies. These moves reflect the global investment firm’s interest in gaining exposure to high-growth sectors and strengthening its portfolio in the Indian market.
The two stocks listed below saw notable price movements Tuesday’s trading session after large block deal transactions were completed on the stock exchanges on September 22. These variations show how the market and investors felt about the significant buying and selling that took place during that time.
1. Fortis Healthcare Ltd
With a market cap of Rs. 73,778.29 Crores, the stock is trading at Rs. 977.10, up by 1.12 percent from its previous close price of Rs. 966.25. In the latest NSE block deal, Goldman Sachs (Singapore) Pte acquired approximately 2.19 lakh shares of Fortis Healthcare Ltd for around Rs. 20.89 crore (0.03 percent stake) at an average price of Rs. 953.95 per share, while Aware Super sold the same number of shares at the same price.
About the company
Fortis Healthcare Limited, founded in 1996 and based in Gurugram, is an Indian healthcare provider offering comprehensive services across hospitals, diagnostics, tertiary and quaternary care, and day-care specialty facilities.
Its medical expertise spans multiple specialties, including cardiology, critical care, neurology, oncology, orthopedics, pediatrics, organ transplants, mental health, and numerous other surgical and medical disciplines.
At the moment, the company’s P/E ratio is 79.9x higher as compared to its industry P/E 55.6x. The company’s ROE and ROCE are 10.1 percent and 12 percent respectively, and the D/E ratio of 0.28, indicates the company’s financial performance.
Also Read: 2 Smallcap stocks in focus after FIIs offload stake in the companies
2. Max Financial Services Ltd
With a market cap of Rs. 54,124.35 Crores, the stock is trading at Rs. 1,568.10, up by 0.73 percent from its previous close price of Rs. 1,556.70 per equity share. In the latest NSE block deal, Goldman Sachs (Singapore) Pte acquired approximately 1.52 lakh shares of Max Financial Services Ltd for around Rs. 23.73 crore (0.04 percent stake) at an average price of Rs. 1,561.70 per share, while Aware Super sold the same number of shares at the same price.
About the company
Max Financial Services Limited, founded in 1988 and based in Noida, operates in India’s life insurance sector through its subsidiary. It offers a range of life, health, and pension products, both participating and non-participating, via agents, banks, brokers, and other channels, while also engaging in treasury investments and management advisory services.
At the moment, the company’s P/E ratio is 199x higher as compared to its industry P/E 74.8x. The company’s ROE and ROCE are 7.26 percent and 8.13 percent respectively, and the D/E ratio of 0.19, indicates the company’s financial performance.
Written by Akshay Sanghavi
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