GTL shines on plan to sell energy management business to E2 Energy

01 Oct 2015 Evaluate

GTL is currently trading at Rs. 11.82, up by 0.62 points or 5.54% from its previous closing of Rs. 11.20 on the BSE.

The scrip opened at Rs. 11.75 and has touched a high and low of Rs. 12.55 and Rs. 11.75 respectively. So far 102646 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 23.45 on 05-Nov-2014 and a 52 week low of Rs. 10.10 on 07-Sep-2015.

Last one week high and low of the scrip stood at Rs. 12.55 and Rs. 10.40 respectively. The current market cap of the company is Rs. 186.71 crore.

The promoters holding in the company stood at 44.23% while Institutions and Non-Institutions held 25.50% and 30.26% respectively.

GTL has decided to sell its operations, maintenance and energy (OME) management business to E2 Energy Services for Rs 850 crore. The board of directors of GTL have approved the proposed transaction subject to receipt of all necessary consents from regulatory authorities and lenders of the company. 

Upon conclusion of the transaction, the proceeds will be utilized by the Company to pay dues to the lenders. This forms part of the larger effort by the Company whereby it has proposed a one-time settlement offer to the lenders, which envisages the sale of its assets & investments in order to repay its dues.

GTL, incorporated in 1987, is amongst the leading network services company. The company’s services are widely used by WiMax, CDMA, GSM, fixed line telecom carrier, OEMs and leading corporates across the world.

 

GTL Share Price

12.82 0.12 (0.94%)
23-Dec-2024 10:46 View Price Chart
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