Gloster rises on signing MoU with Government of Telangana
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Gloster is currently trading at Rs. 1200.00, up by 1.05 points or 0.09% from its previous closing of Rs. 1198.95 on the BSE.
The scrip opened at Rs. 1229.80 and has touched a high and low of Rs. 1234.95 and Rs. 1185.10 respectively. So far 1335 shares were traded on the counter.
The BSE group 'X' stock of face value Rs. 10 has touched a 52 week high of Rs. 1367.80 on 20-Jul-2021 and a 52 week low of Rs. 423.00 on 09-Nov-2020.
Last one week high and low of the scrip stood at Rs. 1249.90 and Rs. 1152.00 respectively. The current market cap of the company is Rs. 656.60 crore.
The promoters holding in the company stood at 72.58%, while Institutions and Non-Institutions held 15.08% and 12.34% respectively.
Gloster has signed Memorandum of Understanding (MoU) with the Government of Telangana to set up an integrated jute mill in Warangal District of Telangana at a proposed investment of approximately Rs.330 crore.
Under the arrangement, Government of Telangana shall inter alia ensure seamless execution and hassle free transparent system for quick approvals and clearances under the TS-iPASS framework, facilitate Jute cultivation in the state, provide necessary assistance for adequate infrastructure development and offer competitive incentives.
