Gallantt Ispat Ltd to invest Rs. 135 crores in Gallantt Industry Pvt Ltd

The Board of Directors of Gallantt Ispat Ltd on the recommendation of the Audit Committee, has approved an investment upto Rs. 135.00 Crores in the Equity Capital of Gallantt Industry Pvt Ltd (GIPL), Wholly Owned Subsidiary of the Company, inclusive of earlier sanctioned investment limits of Rs. 70.00 Crores. The Board therefore, has approved a fresh investment of Rs.65.00 Crores in the equity capital of GIPL in trenches under different modes of subscribing, issuing and allotment of shares by GIPL and the mode of investment shall be decided as per the convenience of both the Companies.

Shares of Gallantt Ispat Limited was last trading in BSE at Rs. 53 as compared to the previous close of Rs. 53.2. The total number of shares traded during the day was 2730 in over 136 trades.

The stock hit an intraday high of Rs. 53.9 and intraday low of 52.6. The net turnover during the day was Rs. 145117.

Source : Equity Bulls

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