Societe Generale enters into Gokaldas Exports with bulk deal of Rs 41 cr as shares rise 43%

Apparel maker Gokaldas Exports on Wednesday witnessed a bulk deal with French multinational bank Societe Generale buying over 5 lakh shares worth Rs 41 crore, even as the stock remains in the top focus on the D-Street following the US-India trade deal, with the company seen as a major beneficiary.Societe Generale bought these shares at a price of Rs 807.18 per share, which was 16% higher than Tuesday’s closing price of Rs 694.05 on the NSE.

The stock has risen 43% in the past two sessions after US President Donald Trump announced the deal, saying the tariff on Indian goods will be reduced to 18% from 25%.

The stock is now in the spotlight after falling into obscurity over the past year. The share has significantly underperformed over the past twelve months. Despite last week’s gains, Gokaldas exports are still down 14% over a year. In contrast, the main indices Nifty and the BSE Sensex rose 10% and 9% respectively.

Also read: Bulk deal: Goldman Sachs cuts stake in Manappuram Finance; CLSA sells shares of Sunteck Realty

With the recent rise, the stock has now risen above the 50-day and 200-day simple moving averages (SMA) of Rs 734 and Rs 825 respectively.

According to data from Trendlyne, the country is now also in an overbought zone, with the MFI hovering around 80. A number above 70 indicates an overbought zone, while a number below 30 indicates the stock is trading in an oversold zone. Despite the underperformance of institutional stocks in Gokaldas, exports rose in the quarter ending in December compared to the September quarter. While mutual funds increased their holding from 34.2% in Q2FY26 to 35% in Q3FY26, FII holding rose from 22.9% in the July-September quarter to 23.7% in the October-December period.

Shares of Gokaldas Exports today touched the high circuit of 20% to close at Rs 832.85 on the NSE.

(Disclaimer: The recommendations, suggestions, views and opinions expressed by the experts are their own. These do not represent the views of The Economic Times.)