GOCL Corporation has informed the stock market that its promoter has decided to reduce his stake by one percent.
Share Market News: Shares of GOCL Corporation surged around 15 per cent on Wednesday i.e. February 21. The counter opened at Rs 465.65 in and went on to rise 14.81 per cent to touch the day’s high of Rs 512. On Tuesday, shares of GOCL Corporation had closed at the level of Rs 445.95.
Shares of the small cap company, which has market cap of Rs 2,488, have a 52-week high of Rs 640 and a 52-week low of Rs 278.25.
Shares of GOCL Corporation have given returns of about 20 percent to investors in the last 6 months, 46 percent returns in 1 year and 100 percent returns in the last 5 years.
Meanwhile, GOCL Corporation has informed the stock market that its promoter has decided to reduce his stake by one percent. GOCL is a company working for the defense sector which manufactures precision detonators, igniters, pyro devices etc. The company manufactures components for missile systems and canopy severance systems which are used in the defense sector.
“We have been informed from 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 1.00% viz. from the present 73.83% to about 72.83% 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,” GOCL said in an exchange filing.
Disclaimer: The article is for informational purposes only and not investment advice.