HSIL ZOOM GMM LOSS
Domestic stock markets are on a downward trajectory as sales rise immediately despite initially starting positively. Demand for this specialty has grown significantly as a result of recent corporate scandals involving buybacks (buybacks) by home improvement products company HSIL Limited. On the other hand, sales were boosted by the sale of a 17.59 percent stake in a domestic subsidiary by Process Equipment giant GMM Folder Limited. If Versace HSIL stock is buzzing with gains .. GMM Folder missed the art with huge losses. Let's see the details.
Rs. HSIL recently revealed that the board has given the green signal for a buyback of equity shares not exceeding the 105 prices. It said it would repurchase 6.67 million shares as part of the buyback. For this Rs. 70 crore. Against this backdrop, HSIL shares initially jumped 8 percent to Rs. Rose to 77. This is a 52-week high. At present, it is trading at Rs. Trading at 75. The stock has rallied 29 percent in the last 8 days!
GMM Folder recently announced that the promoter group of companies will sell 17.59 percent stake through the offer for sale. The floor price is Rs. 3,500. The closing price on Monday was Rs. This is a 33% discount compared to 5,241. The OFS is set to launch today.
The offer will apply to retail investors on Wednesday. The company's promoters Fadler Inc., Millers Machinery, and Urmi Patel will jointly sell 2.57 million shares. Another 1.52 million shares will be sold based on the response to OFS. It is expected that the company will sell 28 percent of its stake.
As of June, the promoters' stake in the company was 75 percent. Against this backdrop, GMM Folder shares fell 10 percent on the NSE. Buyers were left with Rs. 4,683 frozen at the bottom.
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