Major Stake Sales: Fidelity and Goldman Sachs Make Strategic Moves

Fidelity Investments sold a 1.94% stake in Aditya Birla Lifestyle Brands for nearly Rs 261 crore, while Goldman Sachs offloaded shares in Tata Motors' commercial vehicle unit to BNP Paribas for Rs 152 crore. Share prices for both companies experienced declines following the transactions.

Fidelity Investments divested a 1.94% stake in Aditya Birla Lifestyle Brands Ltd (ABLBL) on Tuesday, fetching close to Rs 261 crore through an open market transaction. The US-based investment giant, through Fidelity Blue Chip Growth Fund, offloaded over 23.6 million shares at an average price of Rs 110 each, according to the BSE bulk deal data.

Exact details regarding the purchasers of ABLBL's shares remain undisclosed on the exchange. The sale prompted a price dip, closing shares at Rs 113.35, marking a 2.07% decrease. On a parallel note, Goldman Sachs divested 35.43 lakh shares of Tata Motors' commercial vehicle branch to BNP Paribas, accumulating Rs 152 crore in an open market deal.

Acting through Goldman Sachs Bank Europe SE - ODI, the firm's stocks were sold at an average price of Rs 429.30 each. Concurrently, BNP Paribas executed the purchase via BNP Paribas Financial Markets, keeping the same average price. Tata Motors' shares dipped by 2.83%, closing at Rs 428.90 on the NSE.

(With inputs from agencies.)