Gokaldas Exports shares fall 9% , see profit-booking after two sessions; check details
Shares of Gokaldas Exports fell 9.53% to Rs 790.55 against the previous close of Rs 873.85 on BSE. Market cap of the firm slipped to Rs 4,833 crore.
- Aug 31, 2023,
- Updated Aug 31, 2023 4:20 PM IST
Shares of Gokaldas Exports Ltd saw profit-booking on Thursday a day after the stock hit a 52-week high on bourses. Shares of Gokaldas Exports fell 9.53% to Rs 790.55 against the previous close of Rs 873.85 on BSE. Market cap of the firm slipped to Rs 4,833 crore on BSE.. A total of 1.24 lakh shares of the firm changed hands amounting to a turnover of Rs 10.04 crore on Wednesday. Market cap of the firm fell to Rs 4,842 crore.
In terms of technicals, the relative strength index (RSI) of the stock stands at 92, signaling it's trading deep in the overbought zone. Gokaldas Exports shares have a beta of 0.7, indicating very low volatility in a year. Gokaldas Exports shares are trading higher than the 5 day, 20 day, 50 day, 100 day and 200 day moving averages.
In the last one year, Gokaldas Exports stock has surged 120% and gained 116% this year.
On Wednesday, the stock extended its rally for the second straight session. Shares of Gokaldas Exports settled more than 18 per cent higher after the company said it has entered into an agreement through its wholly owned subsidiaries to acquire UAE-based Atraco Group.
During the day, the stock touched a 52-week high of Rs 883.55 and 882.40 per piece on the BSE and NSE, respectively.
On Tuesday, the readymade garment manufacturer and exporter said it has inked into an agreement through its wholly owned subsidiaries to buy Atraco Group for $55 million.
The equity value of the transaction is $55 million (around Rs 455 crore) and the same will be funded by a mix of debt and internal accruals, the company said.
The transaction will consist of the acquisition of shares and assets and will be subject to customary regulatory approvals. It is expected to be completed by the third quarter of FY24 (October-December 2023), it added.
Currently, the garments and apparel maker exports to more than 50 countries and its customers include prominent international brands in North America, South America, Europe, Africa, Oceania and Asian countries.
The company has over 20 manufacturing facilities, complemented by five integrated ancillary units.
Also read: Hot stocks on August 31, 2023: Suzlon Energy, Jio Financial, Dilip Buildcon, BHEL and more
Shares of Gokaldas Exports Ltd saw profit-booking on Thursday a day after the stock hit a 52-week high on bourses. Shares of Gokaldas Exports fell 9.53% to Rs 790.55 against the previous close of Rs 873.85 on BSE. Market cap of the firm slipped to Rs 4,833 crore on BSE.. A total of 1.24 lakh shares of the firm changed hands amounting to a turnover of Rs 10.04 crore on Wednesday. Market cap of the firm fell to Rs 4,842 crore.
In terms of technicals, the relative strength index (RSI) of the stock stands at 92, signaling it's trading deep in the overbought zone. Gokaldas Exports shares have a beta of 0.7, indicating very low volatility in a year. Gokaldas Exports shares are trading higher than the 5 day, 20 day, 50 day, 100 day and 200 day moving averages.
In the last one year, Gokaldas Exports stock has surged 120% and gained 116% this year.
On Wednesday, the stock extended its rally for the second straight session. Shares of Gokaldas Exports settled more than 18 per cent higher after the company said it has entered into an agreement through its wholly owned subsidiaries to acquire UAE-based Atraco Group.
During the day, the stock touched a 52-week high of Rs 883.55 and 882.40 per piece on the BSE and NSE, respectively.
On Tuesday, the readymade garment manufacturer and exporter said it has inked into an agreement through its wholly owned subsidiaries to buy Atraco Group for $55 million.
The equity value of the transaction is $55 million (around Rs 455 crore) and the same will be funded by a mix of debt and internal accruals, the company said.
The transaction will consist of the acquisition of shares and assets and will be subject to customary regulatory approvals. It is expected to be completed by the third quarter of FY24 (October-December 2023), it added.
Currently, the garments and apparel maker exports to more than 50 countries and its customers include prominent international brands in North America, South America, Europe, Africa, Oceania and Asian countries.
The company has over 20 manufacturing facilities, complemented by five integrated ancillary units.
Also read: Hot stocks on August 31, 2023: Suzlon Energy, Jio Financial, Dilip Buildcon, BHEL and more