Gokaldas Exports spurts 4% after incorporation of new subsidiary for expansion

The company has planned to set up a cost-efficient manufacturing unit at Acharpura Industrial Area, near Bhopal under a new wholly-owned subsidiary Gokaldasexports Acharpura to manage the business in an efficient manner.

Aug 30, 2021 09:08 IST India Infoline News Service

Gokaldas Exports Limited has incorporated wholly-owned subsidiary Gokaldasexports Acharpura Private Limited as part of the process of augmenting its production capacity to meet business requirements.

The company has planned to set up a cost-efficient manufacturing unit at Acharpura Industrial Area, near Bhopal in Madhya Pradesh. This expansion will be carried out under a new wholly-owned subsidiary company to manage the business in an efficient manner and to be in a better position to service international customers.

“In continuation of our letter dated July 30, 2021 regarding intimation of proposed formation of a wholly owned subsidiary, we wish to inform you that M/s Gokaldasexports Acharpura Private Limited has been incorporated as a wholly owned subsidiary of the Company on August 28, 2021,” company said in a filing on Sunday.

At around 9.28 AM, Gokaldas Exports Ltd was trading at Rs192.40 per piece up by Rs7.55 or 4.08% from its previous closing of Rs184.85 per piece on the BSE. The scrip opened at Rs194.05 and has touched a high and low of Rs194.05 and Rs190.50 respectively.

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