Dilipkumar Lakhi’s portfolio stock with Rs 1,100 crore order book: This small-cap company is obtaining the necessary licenses to expand the business in the defence sector
The stock is up by 84 per cent from its 52-week low of Rs 278.25 per share.
GOCL Corporation Limited, a Hinduja Group Company, involved in manufacturing critical defence components like precision detonators and canopy severance systems, proposes a strategic reduction in our promoter's shareholding by approximately 1 per cent. This decision aligns with the recent Indian government's move to raise the automatic Foreign Direct Investment (FDI) limit in the defence sector to 74 per cent.
This enhanced openness presents an exciting opportunity for expansion, and the company believe strategic partnerships with foreign investors holding complementary expertise will be crucial. By reducing its holding slightly, we aim to attract foreign investment, facilitate technology transfer, and propel the company to become a significant player in the evolving Indian defence landscape. The company believes that they are confident that this measured approach will benefit all stakeholders, driving growth while prioritizing national security considerations.
Hinduja Capital Limited, Mauritius our Promoter, whose shareholding in the company is considered as Foreign Direct Investment, about their plan to reduce the shareholding in the company by about 1 per cent viz. from the present 73.83 per cent to about 72.83 per cent by effecting the sale of the requisite number of shares in the open market through the Stock Exchange mechanism by way of bulk/block deal. This will enable the company to obtain the necessary licenses to take up and expand the business in the defence sector.
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On Wednesday, shares of GOCL Corporation Ltd surged 12.6 per cent to Rs 502.1 per share with an intraday high of Rs 512 and an intraday low of Rs 465.65. The shares of the company saw a spurt in volume by more than 10 times on BSE. The company’s order book stands at Rs 1,100 crore as of September 30, 2023.
GOCL Corporation Ltd is engaged in the business of energetics, mining & infrastructure services and realty. It is a part of Hinduja Group which has a presence across various industries such as Automotive, information technology, media, entertainment & communications, infrastructure projects, development, oil & speciality chemicals, power, real estate and healthcare. GOCL Corporation Ltd has a market cap of over Rs 2,700 crore and has been maintaining a healthy dividend payout of 25 per cent.
An ace investor, Dilipkumar Lakhi owns a 1.22 per cent stake in the company and Quant Mutual Fund bought a 1.44 per cent stake in the company as of December 2023. The stock is up by 84 per cent from its 52-week low of Rs 278.25 per share. Investors should keep an eye on this small-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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