ON THE MOVE
Businessworld|9 April 2022
BSE-listed diversified entity GHCL, the second largest manufacturer of soda ash is buzzing on the bourses nowadays. What is clicking for the company and its shareholders?
Ashish Sinha
ON THE MOVE
ON 17 MARCH, the share price of GHCL hit a 52-week high (Rs 552) surpassing its previous high of Rs 499.45 on 11 March 2022. In March, GHCL stocks have gained 43 per cent. What is working for the company? Gujarat-based GHCL caters to almost 25 per cent of the country’s annual domestic demand for soda ash. It is a well-diversified group with businesses across chemicals, textiles and consumer products. So, what is working for the company? It appears that a significant part of the movement in stock prices is due to the recent developments around the company’s textile business.

It all started on 3 March 2022 after GHCL received ‘No adverse observation/ no objection’ letters from the BSE and the National Stock Exchange of India for a proposed Scheme of Arrangement. In early December last year, the board of directors of GHCL had approved a scheme of arrangement involving demerger of the spinning business division of GHCL to GHCL Textiles (subject to regulatory approvals). GHCL expects this new scheme to be completed by around September 2022. Then, the company has also recently divested its home textiles business to Indo Count Industries (ICIL) for Rs 596 crore. This sale, the company insiders say, may unlock the value for its stakeholders. The proceeds of the sale will be used to further grow the chemicals business, the core for GHCL.

Denne historien er fra 9 April 2022-utgaven av Businessworld.

Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.

Denne historien er fra 9 April 2022-utgaven av Businessworld.

Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.

FLERE HISTORIER FRA BUSINESSWORLDSe alt
MEMORIES & IMPRESSIONS
BW Businessworld

MEMORIES & IMPRESSIONS

Ratan Tata was an exceptional human being. He was a visionary leader, esteemed industrialist, and a humanitarian, who left an indelible mark on India and the world.

time-read
3 mins  |
October 19, 2024
The Robotaxi Market
BW Businessworld

The Robotaxi Market

The robotaxi market is shaping up to be a high-stakes battleground as tech giants and automakers race to transform urban mobility.

time-read
1 min  |
October 19, 2024
And the Nobel Prize Goes to AI
BW Businessworld

And the Nobel Prize Goes to AI

The recent Nobel Prize T awards to AI pioneers affiliated with Google have sparked a broader conversation about Big Tech's influence on research and the limitations of traditional prize categories.

time-read
1 min  |
October 19, 2024
Ola Electrified
BW Businessworld

Ola Electrified

Once considered a trailblazer in India’s electric vehicle (EV) ecosystem, Bhavish Aggarwal’s Ola Electric now faces a major accountability crisis.

time-read
1 min  |
October 19, 2024
Sharp Slide in Industrial Output on Eve of Deepavali
BW Businessworld

Sharp Slide in Industrial Output on Eve of Deepavali

India’s index of industrial production (IIP) saw a sharp reversal in August, contracting by 0.1 per cent, in stark contrast to the 4.7 per cent growth in July, mostly because of significant contractions in mining and electricity generation.

time-read
1 min  |
October 19, 2024
Heralding the Solar Era with Sustainable Electrification
BW Businessworld

Heralding the Solar Era with Sustainable Electrification

RAJEEV KASHYAP on the economics of solar power, the hurdles in scaling it, and much more

time-read
2 mins  |
October 19, 2024
A WELL-GREASED MACHINE
BW Businessworld

A WELL-GREASED MACHINE

The OmniBook X14 laptop runs on first-generation Snapdragon X Elite, which bets big on Al-enabled productivity and battery life, but falls short when it comes to overall experience, says Deep Majumdar

time-read
4 mins  |
October 19, 2024
DO NOT LETA HEALTH CRISIS RUIN YOUR FINANCIAL HEALTH
BW Businessworld

DO NOT LETA HEALTH CRISIS RUIN YOUR FINANCIAL HEALTH

For a family of four living in a metro, it is recommended to opt for a family floater health insurance plan with a sum insured of at least Rs 15-20 lakh

time-read
7 mins  |
October 19, 2024
Disruption Ahead: Beyond Organisation Charts and Structures
BW Businessworld

Disruption Ahead: Beyond Organisation Charts and Structures

ALBERT EINSTEIN FAMOUSLY said, “We cannot solve our problems with the same thinking we used when we created them.

time-read
3 mins  |
October 19, 2024
Dr. Rahul Shivajirao Kadam: A Visionary Leader Blending Sustainability, Innovation, And Social Empowerment
BW Businessworld

Dr. Rahul Shivajirao Kadam: A Visionary Leader Blending Sustainability, Innovation, And Social Empowerment

We are on the stage of global warming, and these technologies not only help prevent further damage but also leave behind a better environment for future generations.

time-read
2 mins  |
October 19, 2024