India's Gokaldas Exports falls 4% on report of stake sale by top shareholder

Gokaldas Exports

09/03/2023 06:09

** Shares of Indian apparel maker Gokaldas Exports  GOKL.NS 
fall as much as 4.3% to 390 rupees, biggest intraday pct drop
since Feb. 22
    ** Top shareholder, Clear Wealth Consultancy Services will
sell stake in co via block deals at a floor price of 390 rupees
per share, TV channel ET Now reported
    ** Gokaldas Exports did not immediately respond to Reuters
request seeking more details
    ** About 69,26,422 shares, representing 11.43% equity,
change hands as of 10:50 a.m. IST in four blocks, at a price
between 390 rupees and 397 rupees - Refinitiv data
    ** More than 9.7 mln shares change hands by 11:30 a.m. IST
vs 42.1x 30-day avg of 230,500 shares
    ** Six of the 7 analysts covering the stock have a "buy" or
"strong buy" rating, 1 has "hold"; median PT is 575 rupees -
Refinitiv data
    ** Stock up 11.5% YTD up to last close


 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))