Goldman Sachs Clocks Out: ₹48 Cr Exit from Ethos in Block Deal

In a notable market move, Goldman Sachs offloaded over 1.77 lakh shares of luxury watch retailer Ethos Ltd via a ₹48 crore block deal on June 19. The shares were sold at ₹2,700.67 apiece, marking a 5% discount to the previous close of ₹2,848.45.

 

Key Highlights:

 

•⁠  ⁠Stake Trimmed: The deal reduced Goldman Sachs’ holding in Ethos, which previously stood at 1.40% through its India Equity Fund.

 

•⁠  ⁠Stock Reaction: Ethos shares fell 4.45%, closing at ₹2,721.80 post-deal.

 

•⁠  ⁠Muted 2025 Performance: The stock is down 4% YTD, underperforming the Nifty’s 4% gain.

 

•⁠  ⁠Financials: Q4 FY25 net profit rose 8.2% YoY to ₹23 crore, while revenue jumped 21.6% YoY to ₹317 crore.

 

•⁠  ⁠Technical Indicators: Ethos trades above its 50-day SMA (₹2,629) but below its 200-day SMA (₹2,735), signaling mixed momentum.

 

Outlook:

While the block deal reflects profit booking or portfolio rebalancing, Ethos’ fundamentals remain intact. With a strong retail footprint and premium brand portfolio, the stock may regain traction if earnings momentum continues. Investors should watch for volume trends and institutional activity in the coming weeks.

 

 Source: Economic Times