GKB Ophthalmics gains on getting nod to incorporate new Joint Venture Company

11 May 2018 Evaluate

GKB Ophthalmics is currently trading at Rs. 200.00, up by 0.70 points or 0.35% from its previous closing of Rs. 199.30 on the BSE.

The scrip opened at Rs. 209.20 and has touched a high and low of Rs. 209.20 and Rs. 189.35 respectively. So far 7710 shares were traded on the counter.

The BSE group 'XT' stock of face value Rs. 10 has touched a 52 week high of Rs. 209.20 on 11-May-2018 and a 52 week low of Rs. 96.00 on 09-Mar-2018.

Last one week high and low of the scrip stood at Rs. 209.20 and Rs. 168.00 respectively. The current market cap of the company is Rs. 82.45 crore.

The promoters holding in the company stood at 54.08%, while Institutions and Non-Institutions held 0.47% and 45.45% respectively.

GKB Ophthalmics has received an approval to incorporate a new Joint Venture Company between SOMO Vision, South Korea and the company, in which the company will hold 50.01% equity shares. The Board of Directors of the company at their meeting held on May 10, 2018, approved the same.

In order to fund this new Joint Venture and to support future growth of its business and in order to further augment the financial resources of the company, the Board also approved the proposed preferential issues of an aggregate up to Rs 10,07,50,000 fully paid up equity shares at an issue price of Rs 155 ( including a premium of Rs 145) per fully paid up equity shares, for cash consideration.

GKB Ophthalmics is engaged in the manufacture and export of high-quality, single-vision mineral opthalmic lenses. 


GKB Ophthalmics Share Price

97.34 0.36 (0.37%)
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