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ValueProductPastPerformance

Company NameReco DateReco PriceExit PriceExit Date% ReturnIn days
Bharat Forge Ltd. 25/07/20241,593.85952.3007/04/2025 -40.25% 256 days
ITC Ltd. 28/12/2023464.20487.5002/01/2025 5.02% 1 yrs
Britannia Industries Ltd. 27/07/20234,875.805,028.2512/11/2024 3.13% 1 yrs
JSW Steel Ltd. 22/02/2024826.951,003.0026/09/2024 21.29% 217 days
Bajaj Auto Ltd. 22/08/20249,910.0011,930.0017/09/2024 20.38% 26 days
Dr. Reddy's Laboratories Ltd. 26/10/20235,429.306,536.0005/07/2024 20.38% 253 days
Shriram Finance Ltd. 25/04/20242,430.102,955.0028/06/2024 21.60% 64 days
Coal India Ltd. 25/01/2024389.50501.6022/05/2024 28.78% 118 days
Infosys Ltd. 27/10/20221,522.601,411.6019/04/2024 -7.29% 1 yrs
State Bank Of India 25/05/2023581.30782.0505/03/2024 34.53% 285 days

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GHCL completes divestment of its home textile business for a total consideration of Rs 608.30 crore
DSIJ Intelligence-3
/ Categories: Trending, Mindshare

GHCL completes divestment of its home textile business for a total consideration of Rs 608.30 crore

This move will enable the management to focus on the strategic growth pillars

On Friday, the stock of GHCL jumped over 4 per cent and recorded its highest single-day volume in the last four trading sessions. Earlier in the day, the stock had marked a fresh 52-week high of Rs 584 and settled around the levels of Rs 570.   

During the weekend, the company released a press release wherein, it mentioned that it has completed the divestment of its home textile business to Indo Count Industries Limited w.e.f. April 2, 2022, after obtaining all relevant regulatory and shareholders’ approvals.   

The total consideration for divestment of the home textiles business has been calculated at Rs 608.30 crore (subject to validation of customary closing date adjustment of working capital in terms of the definitive agreements). The divestment of GHCL's home textile business is a significant value unlocking exercise for all its stakeholders. This move will enable the management to focus on the strategic growth pillars of chemical and spinning businesses. The proceeds of the sale will be used to further initiatives such as the Greenfield project, product basket expansion, clean energy & ESG initiatives, automation, and exploring opportunities to enter into JVs.  

The stock gained more than 10 per cent in the last week and on a YTD basis, it has jumped over 50 per cent.   

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