In a significant market move, Goldman Sachs (Singapore) Pte snapped up shares of Hindustan Aeronautics Ltd (HAL) and Zomato in block deals on March 28, as per stock exchange filings. The seller in both transactions was Kadensa Master Fund, signaling a strategic realignment in these stocks.
Goldman Sachs Increases Stake in HAL
The global investment firm purchased 385,774 shares of Hindustan Aeronautics Ltd at an average price of ₹4,176.25 per share, mirroring the exact quantity offloaded by Kadensa Master Fund. On the same day, HAL’s stock closed at ₹4,176 on the BSE, up 0.35% from the previous session.
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HAL has been on a strong upward trajectory, surging over 35% in the last month, fueled by key developments such as the launch of GE’s light aircraft engine supplies and the signing of two new defense contracts with the Ministry of Defence on March 28.
Goldman Sachs Bets on Zomato Despite Profit Drop
Alongside its HAL investment, Goldman Sachs also picked up 6,007,412 shares of Zomato at an average price of ₹199.50, with Kadensa Master Fund again being the seller. Zomato’s stock closed slightly higher at ₹201.50 on the BSE after the deal.
This investment comes despite Zomato’s Q3 FY25 net profit plunging 57.24% to ₹59 crore, a steep decline from ₹138 crore in the same quarter last year. However, the company’s revenue skyrocketed 64% to ₹5,405 crore, up from ₹3,288 crore in the previous year, showcasing strong topline growth even as profitability faces headwinds.
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With these purchases, Goldman Sachs appears to be doubling down on India’s aerospace and digital commerce sectors, reinforcing confidence in HAL’s defense contracts and Zomato’s long-term market expansion.
