India's Gokaldas Exports hits record high on $55 mln acquisition

Gokaldas Exports

29/08/2023 05:14

** Shares of Gokaldas Exports  GOKL.NS  up as much as 13.7%
to hit an all-time high of 696.75 rupees in heavy vols
    ** The Indian apparel manufacturer and exporter said it 
will buy Dubai-based apparel maker Atraco Group for $55 mln
    ** Says deal to give it access to "low-cost duty-free"
manufacturing locations
    ** Trading vol by 09:34 a.m. IST is 4.6x the 30-day moving
avg
    ** Six of the seven analysts covering GOKL rate it "buy" or
"strong buy", while one rates it "hold"; median PT is 595 rupees
    ** Stock last up about 13% taking YTD gains to about 89%

 (Reporting by Kashish Tandon in Bengaluru)
 ((Kashish.tandon@thomsonreuters.com))