Societe Generale bought these shares at a price of Rs 807.18 per share which was up 16% from the Tuesday closing price of Rs 694.05 on the NSE.
The stock has jumped 43% in the last two sessions after US President Donald Trump announced about the deal where he said that the tariff on Indian goods will be slashed to 18% from an earlier 25%.
The stock is now in spotlight after languishing in oblivion for the past one year. The stock has been a big market underperformer for the past 12 months. Despite the gains over the past week, Gokaldas Exports are still down 14% over a one year period. In contrast the headline indices Nifty and the BSE Sensex gained 10% and 9%, respectively.
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With the recent surge, the stock has now shot-up above its 50-day and 200-day simple moving averages (SMA) of Rs 734 and Rs 825, respectively.
It is also now in an overbought zone with MFI hovering near the 80 mark, according to Trendlyne data. A number above 70 indicates an overbought zone while below 30 suggests that the stock is trading in an oversold zone.Despite stock’s underperformance institutional holding in Gokaldas Exports went up in the December ended quarter over he September quarter. While mutual funds raised their stake from 34.2% in Q2FY26 to 35% in Q3FY26, FII holding climbed to 23.7% in October-December period from 22.9% in the July-September quarter.
Gokaldas Exports shares today hit 20% upper circuit to close at Rs 832.85 on the NSE.
(Disclaimer: The recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times.)
