GTPL Hathway jumps on entering into agreement for disposing entire stake in 9 subsidiary companies
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GTPL Hathway is currently trading at Rs. 181.70, up by 7.70 points or 4.43% from its previous closing of Rs. 174.00 on the BSE.
The scrip opened at Rs. 174.75 and has touched a high and low of Rs. 182.60 and Rs. 174.45 respectively. So far 6974 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 313.15 on 07-Oct-2021 and a 52 week low of Rs. 117.00 on 08-Apr-2021.
Last one week high and low of the scrip stood at Rs. 187.50 and Rs. 171.05 respectively. The current market cap of the company is Rs. 2040.08 crore.
The promoters holding in the company stood at 75.00%, while Institutions and Non-Institutions held 10.30% and 14.70% respectively.
GTPL Hathway has entered into Share Transfer agreement on March 30, 2022 for disposing its entire stake i.e. 10,000 Equity Shares each of the 9 wholly owned subsidiary companies i.e. GTPL Anjali Cable, GTPL Blue Bell Network, GTPL Deesha Cable Net, GTPL Meghana Distributors, GTPL Surat Telelink, GTPL TV Tiger, GTPL Vidarbha Telelink, GTPL Video Vision and SCOD18 Networking for which the company has received total consideration of Rs 9 lakh. With this all 9 wholly owned subsidiary companies have ceased as subsidiaries of the Company.
The said wholly owned subsidiaries, being non-operating companies, their contribution to the consolidated turnover of the Company as well as to its Net worth for the FY 2020-21 was NIL.
GTPL Hathway provides digital cable television and broadband services. The company provides channels across various genres. It provides facility for renewal or change plans for cable television/broadband package.
