GHCL: Under Sebi lens
STOCK IN THE NEWS
| The GHCL stock opened at the lower circuit filter on Thursday and Friday, with pending sell orders of over 2 million shares on the BSE and the NSE. |
| "The large-scale transactions by the Jalco group entities, including promoter group entities, in the shares of GHCL, indicate a concomitant possibility of their dealings in off-the-market transactions. Accordingly, off-the-market transactions in the shares of GHCL were examined and it was observed that the Jalco group entities, including promoter group entities, were executing several off-the-market transactions among themselves," a Sebi order stated. |
| In February 2007, GHCL had acquired US-based Best Manufacturing for $35 million. Best Manufacturing's annual sales stand at $160 million. Best is a leading manufacturer and distributor of home textiles and related items for the hospitality and the healthcare sectors in the US. |