GHCL advances on restructuring plans
GHCL shares surged on Tuesday after the company announced plans to spin off home textile and retail businesses into separate units, as part of a restructuring strategy to enhance growth.
By INDIATIMES NEWS NETWORK |
MUMBAI: GHCL shares surged on Tuesday after the company announced plans to spin off home textile and retail businesses into separate units, as part of a restructuring strategy to enhance growth.
At 10:21 am, the stock was at Rs 76.80, up 4.28 per cent. It touched a high of Rs 78.95 and low of Rs 75.30 in trade so far.
GHCL, which is mainly into making soda ash, would continue to be listed. The home textile business, comprising sourcing and manufacturing, is proposed to be shifted to a 100 per cent subsidiary of GHCL. The retail entity would look after the India and UK retail ventures, including that of Rosebys UK, which was acquired in 2006.
GHCL earns about 64 per cent of its revenue from home textiles and 33 per cent from soda ash business.
At 10:21 am, the stock was at Rs 76.80, up 4.28 per cent. It touched a high of Rs 78.95 and low of Rs 75.30 in trade so far.
GHCL, which is mainly into making soda ash, would continue to be listed. The home textile business, comprising sourcing and manufacturing, is proposed to be shifted to a 100 per cent subsidiary of GHCL. The retail entity would look after the India and UK retail ventures, including that of Rosebys UK, which was acquired in 2006.
GHCL earns about 64 per cent of its revenue from home textiles and 33 per cent from soda ash business.
Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
Bookmark or read stories offline -
Download ET Markets APP
Download ET Markets APP
ADVERTISEMENT
