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Goodyear India surges after Goldman Sachs buys stake

 

Goodyear India surges after Goldman Sachs buys stake

  Goodyear India has surged 10% to Rs 860, also its new high on BSE, after the Goldman Sachs bought stake in tyre maker through open market.

On Wednesday, October 5, 2016, Goldman Sachs India Fund had acquired 123,895 shares representing 0.54% stake in Goodyear India for Rs 10 crore. The foreign investor purchased these shares at a price of Rs 779.98 on BSE, the bulk deal data shows. LINK

The stock rallied 18% in past two trading sessions from Rs 726 on October 4.

Till 09:23 am, around 56,000 shares changed hands on the counter against an average 95,000 shares that were traded daily in past two weeks on the BSE.