Y Combinator sells Meesho shares worth Rs 970 crore in block deals; Morgan Stanley, Goldman Sachs, Citigroup among buyers
Y Combinator-linked entities sold 4.85 crore Meesho shares worth Rs 970 crore through block deals at Rs 200.01 apiece. Institutional buyers including Nippon India Mutual Fund, HDFC Life, Morgan Stanley, Goldman Sachs and Citigroup acquired significant stakes.
Vishal Mega Mart shares experienced a 10% increase on Monday after the company announced the reappointment of CEO Gunender Kapur for a five-year term. Morgan Stanley expressed optimism, citing the move as alleviating succession-related concerns and providing continuity to the company's growth strategy. The shares reached a record high of Rs 113.70, their highest level in over a month, and are on track to set the biggest single-day jump since late April 2025.
Gunender Kapur's current three-year term as Managing Director and CEO was set to end on June 26, 2027, but the board approved his reappointment for a five-year period starting September 1, 2026, until August 31, 2031. Morgan Stanley maintains an 'Overweight' rating on Vishal Mega Mart shares, with a target price of Rs 146, indicating a potential upside of more than 41% from the stock's previous closing price of Rs 103.43.
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- Vishal Mega Mart shares soar 10% after CEO reappointment. Here's why Morgan Stanley sees 41% upside economictimes.indiatimes.com
