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Golden Goenka Fincorp surges on entering into agreement to acquire 50% stake in Purple

07 Jan 2013 Evaluate

Golden Goenka Fincorp is currently trading at Rs. 15.19, up by 0.34 points or 2.29% from its previous closing of Rs. 14.85 on the BSE.

The scrip opened at Rs. 15.00 and has touched a high and low of Rs. 15.80 and Rs. 14.80 respectively. So far 5,552 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 45.00 on 04-Jul-2012 and a 52 week low of Rs. 12.70 on 12-Oct-2012.

Last one week high and low of the scrip stood at Rs. 16.44 and Rs. 14.57 respectively. The current market cap of the company is Rs. 99.00 crore.

The promoters holding in the company stood at 63.37% while Non-Institutions held 36.63% respectively.

Golden Goenka Fincorp has entered into an agreement for acquiring 50% shareholding in Purple Advertising Services (Purple) at an investment of Rs 18 crore. Purple is engaged in the business of construction and operation of the state-of-the-art movie studio and movie town.

Purple is presently in the process of constructing two state of the art studio complexes and a movie town under the name and style of ‘Purple Movie Town’ with latest technology, modern amenities and high class facilities for film making, mega serials and reality shows.

Golden Goenka Fincorp, being a non-banking financial company, it is in the business of share investment, assets financing, investment banking, equipment lease and finance and bill discounting for reputed companies.

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