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(10 Jan 2024, 15:06)

GHCL Textiles zooms after signing MoU with Tamil Nadu Govt

GHCL Textiles surged 9.40% to Rs 80.30 after the company announced that it has entered into a Memorandum of Understanding (MoU) with the Nodal Agency of Government of Tamil Nadu.


The company has entered into a Memorandum of Understanding (MoU) with Guidance, the Nodal Agency of Government of Tamil Nadu on 08 January 2024 as part of the Tamil Nadu Global Investors Meet 2024 for investing up to Rs 535 crore over a period of four year.

GHCL Textiles is engaged in the purpose of transfer of Textile Business (Spinning Business).

The company’s standalone net profit jumped 47.83% to Rs 6.15 crore in Q2 FY24 as against Rs 4.16 crore recorded in Q1 FY24. Revenue from operation declined 1.23% QoQ to Rs 260.03 crore in Q2 FY24.

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