GHCL gained 3.15% to Rs 77 at 13:05 IST on BSE after the company’s board approved plan to spin off home textile and retail businesses into separate units, as part of a restructuring strategy to enhance growth.
The company made the announcement after market hours on
The scrip had touched a high of Rs 78.95 and a low of Rs 75.30 so far during the day. The stock had hit a 52-week high of Rs 208.40 on
The company’s current equity is Rs 100.02 crore. Face value per share is Rs 10.
The current price of Rs 77 discounts its Q3 December 2007 annualized EPS of Rs 12.45, by a PE multiple of 6.19.
GHCL’s net profit rose 1.4% to Rs 31.14 crore on 37.6% rise in sales to Rs 298.57 crore in Q3 December 2007 over Q3 December 2006.
As per the company’s announcement, GHCL, which is mainly into making soda ash, would continue to be listed. The home textile business, comprising sourcing and manufacturing, is proposed to be transferred to a 100% subsidiary of GHCL. The retail entity would look after the
GHCL is currently engaged in chemicals business through the soda ash division apart from home textiles.
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