Yes Bank: Carlyle sells Yes Bank stake, Goldman buys
The United States based investment firm Carlyle Group sold 1.98% stake in the Yes Bank at the value of Rs.1441.63 cr and Rs.24.27 per Share. Goldman Sachs bought 36.92 cr shares equals to 1.23% stake in the Yes Bank at the value of Rs.24.26 per share. The Value of Bought shares is Rs.895.78 cr.
YES BANK Market Price is moving in Ascending channel and market has reached higher high area of the channel
According to bulk deal data available on the National Stock Exchange, the United States-based investment firm Carlyle Group has divested 59.4 crore shares, representing a 1.98 percent stake in Yes Bank, through CA Basque Investments at a rate of Rs 24.27 per share. This transaction amounted to shares valued at Rs 1441.63 crore. It’s worth noting that until April 2024, CA Basque Investments had a 9.11 percent stake in the company.
Conversely, Goldman Sachs (Singapore) PTE-ODI acquired 36.92 crore shares, equivalent to a 1.23 percent stake in Yes Bank, at an average price of Rs 24.26 per share. This acquisition totaled shares valued at Rs 895.78 crore.
In another development, Rajasthan Global Securities purchased 2.77 lakh shares of Cigniti Technologies, constituting a 1.02 percent stake, at an average price of Rs 1348.76 per share. Consequently, Cigniti Technologies’ stock experienced a 3.72 percent decline, settling at Rs 1,322 on the NSE.
The Bharat Forge company reported 18% fall in MoM North America Class 8 Truck orders, it is the second straight month low since August 2023 and Below 20K units is the second straight month. 14400 units orders came in the April month from 18800 units received in the March month, it is the nine straight month to decrease the order in line . But Analysts preferred the order book in the Defense, Passenger Vehicles and exports are higher, So it is normal drop order book for the company side.
BHARAT FORGE Market Price is moving in Ascending channel and market has reached higher high area of the channel
On May 3, during the afternoon trading session, Bharat Forge Limited witnessed a slight decline of over 2 percent in its share value. This drop occurred in response to the news that class 8 truck orders in North America had reached a nine-month low in April.
Data indicates that in April, North America Class 8 truck orders experienced an 18 percent month-on-month decline, marking the lowest level since July 2023. This decline signifies the fifth consecutive month of decreasing truck orders in North America.
April saw total class 8 truck orders in North America plummet to 14,400 units, a stark contrast to the 18,200 units recorded in March. Moreover, this marks the second consecutive month that class 8 truck orders remained below 20,000 units, following their initial dip below this threshold in March since August 2023.
Class 8 trucks are often utilized for local or regional deliveries, as well as for vocational purposes such as cement or refuse trucks.
Analysts suggest that the anticipated decline in the US truck market is expected to be brief and shallow, with its impact already reflected in the stock price. Despite prevailing market sentiments, there hasn’t been a significant decrease in production, and freight indicators hint at signs of stabilization.
The brokerage has identified new growth avenues for Bharat Forge, emphasizing the solid momentum in defense revenues, robust performance in passenger vehicle exports, and promising growth prospects for the defense-to-auto component supplier.
Godfrey Philips: Ferrero Partnership Spurs 7% Stock Surge
The Godfrey Philips company signed the agreement with Ferraro Italian based chocolate company for distribution and resale of Sweet chocolate products for 2 years as per Ferrrao company informed to the Godfrey company. The Godfrey Philips distributing the Marlbaro world famous brand in the India, other brands like Red and White, Cavenders, Stellar in India. Recently the company announced to close the 24 Seven retail store presence in Delhi, Punjab and Telangana for loss making to the company.
GODFREY PHILLIPS Market Price is moving in Ascending channel and market has fallen from the higher high area of the channel
On May 3, shares of Godfrey Phillips India experienced a significant surge of approximately 7 percent. This surge came on the heels of the company’s announcement of a strategic agreement with Ferrero India Pvt. Ltd for the distribution and resale of select sweet-packaged food products manufactured by Ferrero via specific channels.
According to the terms of the agreement, Godfrey Phillips India will procure products from Ferrero India Private Limited and distribute or resell them through its designated channels across its extensive distribution network.
The initial agreement, as disclosed by the company to the stock exchanges, focuses on the distribution of Ferrero products within the Indian domestic market for a duration of two years.
Godfrey Phillips India is known for producing a diverse range of cigarette brands, including Four Square, Red & White, Cavanders, Stellar, Focus, Originals International, and others. Additionally, the company has an arrangement with Philip Morris to manufacture and distribute the globally recognized cigarette brand Marlboro in India.
Ferrero, a subsidiary of the Italy-based Ferrero Group, specializes in premium chocolates and is renowned for its sweet-packaged food offerings.
In a separate development from the previous month, Godfrey announced its decision to cease the business operations of its retail division, 24Seven, due to negative net worth resulting from losses incurred up to March 31, 2023. 24Seven, known for its round-the-clock convenience store formats, had establishments in Delhi NCR, Punjab, and Telangana.
Over the past year, the stock has demonstrated remarkable growth, soaring by 108 percent, surpassing the performance of the benchmark Nifty 50, which has risen approximately 25 percent during the same period.
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