Trending Stock: This stock jumped 20% as soon as it got a big deal in Dubai, do you have it?
[ad_1]
The estimated value of the deal is $55 million, which will be financed through a combination of debt and internal accruals. The deal has been done in shares and assets and is yet to get regulatory approval. Gokaldas Exports said in a regulatory filing that the transaction is expected to be completed in the third quarter of FY2024. Ataraco Group is expert in a variety of products. These include shorts, pants, shirts, t-shirts, blouses and dresses for different age groups. Financially, Ataraco Group projects a revenue of approximately $107 million in the year 2022 and a profit of $7.2 million. The company has over 13,000 employees across multiple locations in Kenya, Ethiopia and the UAE.
Sivaramakrishnan Ganapathy, Vice Chairman and Managing Director, Gokaldas Exports Ltd. said, “We are very excited to welcome Ataraco’s amazing leadership team, its employees and global customers. We believe in continuously increasing our production capacity at strategic locations to provide better products to our customers. The acquisition of Atraco is an important step in this direction as it is strategically important for us and has a strong customer base. The company is operationally strong and above all, it is an expert in its field.
He said that this acquisition will give us access to low-cost duty-free locations for manufacturing. Together we can offer a wider range of options for our global customers. We look forward to welcoming over 13,000 new members to the GEL family. Gokaldas Exports Limited is engaged in designing, manufacturing and marketing a wide range of apparel for men, women and children. The company caters to the diverse clothing needs of many leading international fashion brands and retailers. This stock has acquired the status of multibagger. It has given a return of more than 107% in the last one year. Moreover, the stock has gained more than 1176% in last three years. Keep a close eye on this trending stock.
This article is powered by Dalal Street Investment Journal, India’s No. 1 Investment Magazine. Click here to get regular updates about Winning Stocks and Recommendations.
(Disclaimer: This above is third party content and TIL hereby disclaims any and all warranties, express or implied, relating to the same. TIL does not guarantee, vouch for or endorse any of the above content or its accuracy nor is responsible for it in The content does not constitute any investment advice or solicitation of any kind. Users are advised to check with certified experts before taking any investment decision and take all steps necessary to ascertain that any information and content provided is correct, updated and verified. .)
[ad_2]
Source link
