Reliance arm acquires additional 2.36% stake in Genesis Colors
Source: IRIS | 03 Aug, 2018, 09.47AM
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GCL's annual turnover in FY 2017-18 is Rs 860.2 million (provisional). GCL reported a turnover of Rs 800.4 million and Rs 1.14 billion in FY 2016-17 and FY 2015-16, respectively. No regulatory approvals were required for the said acquisition of shares. The investment does not fall within related party transaction and none of RIL's promoter I promoter group I group companies have interest in GCL.
Shares of the company gained Rs 10.95, or 0.94%, to trade at Rs 1,179.30. The total volume of shares traded was 61,341 at the BSE (9.41 a.m., Friday).
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