Share below Rs 20: Keep a close eye on this trending packaging company that soared over 3.45 per cent in todays session

The company recently announced in a press release that it has made repayments on existing financing/cash credit obtained from HDFC bank

Gala Global Products Ltd is engaged in providing packaging solutions. It includes offset printing and all types of binding, photopolymer printing, offset plate makers, letterpress printing, offset printing, the printing of packing materials, advertisement materials, carton printing and all allied lines in the printing process.  

The company recently announced in a press release that it has made repayments on existing financing/cash credit obtained from HDFC bank and reduced its facilities from Rs 17 crore to Rs 7.25 crore. As a result, the cash credit limit has been reduced and the outstanding amount (as of writing this article) is Rs 6.50 crore. The business also has other plans to pay off its debt in the near future by making additional payments or prepayments on various bank-acquired cash credits.  

On Wednesday, shares of Gala Global Products Ltd soared over 3.45 per cent to make an intraday of Rs 16.45 apiece. Keep a close eye on this trending packaging company.