Gokaldas Exports gains after board approves selling assets

Gokaldas Exports rose 8.34% to Rs 71.45 at 12:04 IST on BSE after the company said its board has approved to transfer/sell assets in Bangalore, Hyderabad and Mysore.

The announcement was made after market hours yesterday, 5 January 2016.

Meanwhile, the BSE Sensex was up 1.70 points, or 0.01%, to 25,582.04.

On BSE, so far 4.45 lakh shares were traded in the counter, compared with an average volume of 56,346 shares in the past one quarter. The stock hit a high of Rs 74.55 and a low of Rs 70.50 so far during the day. The stock hit a 52-week high of Rs 101.50 on 5 August 2015. The stock hit a 52-week low of Rs 40.25 on 26 March 2015. The stock had outperformed the market over the past one month till 5 January 2016, rising 4.52% compared with 0.23% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 11.78% as against Sensex's 4.50% fall.

The small-cap company has an equity capital of Rs 17.38 crore. Face value per share is Rs 5.

Gokaldas Exports said that its board at its meeting yesterday, 5 January 2016, decided to transfer/sell land, building and related assets pertaining to some of its properties in Bengaluru, Mysore and Hyderabad.

Further, the board has decided to seek the consent of shareholders by way of postal ballot to this effect, the release added.

Net profit of Gokaldas Exports rose 52.73% to Rs 5.04 crore on 7.66% decline in net sales to Rs 279.73 crore in Q2 September 2015 over Q2 September 2014.

Gokaldas Exports manufactures and exports readymade garments.

Powered by Capital Market - Live News