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Shares of Gokaldas Exports, a readymade garment manufacturing and exporting company, fell on Thursday. The company’s share on the Bombay Stock Exchange (BSE) fell nearly 10 percent to Rs. 790.55 was reached. On Wednesday, August 30, shares of Gokaldas Exports traded at Rs. It hit a new 52-week high of 883.55. Shares of Gokaldas Exports have gained more than 42% in the last 2 days.
Gokaldas is buying a textile company in Dubai
Shares of Gokaldas Exports have gained 42.4% in the last 2 days. The rise in the company’s shares follows the announcement that Gokaldas Exports said it has entered into an agreement to acquire Dubai-based Atraco Group through its wholly-owned unit. The deal is worth $55 million (roughly Rs. 455 crore). Gokaldas Exports will fund the deal through debt and internal accruals. The company currently has Rs. 350 crore in cash.
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The company’s shares have risen 49% in a month
Shares of Gokaldas Exports have gained 49% in the last one month. On July 31, 2023, the company’s shares on BSE were trading at Rs. were at 535.35. Share of Gokaldas Exports on BSE on 31 August 2023 at Rs. 790.55 has been reached. The company’s shares are up 116% so far this year. Shares of Gokaldas Exports have gained 1329% in the last 3 years. Shares of the company traded on BSE on 4 September 2020 at Rs. 55.75, which on August 31 was Rs. 790.55 was reached.
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Disclaimer: Information about stock performance is provided here only, not investment advice. Investment in stock market is subject to risk and please consult your advisor before investing.