GOL Offshore jumps 10% after Metal Import raises stake in co

Moneycontrol Bureau

GOL Offshore shares rallied more than 10 percent intraday Monday after Metal Import increased its stake in the company through pledged shares.

Metal Import acquired 32.48 lakh equity shares (representing 4.12 percent equity capital) of the company though pledged shares.With this, its stake in the company increased to 5.39 percent (i.e. 42.5 lakh equity shares).

At 15:26 hours IST, the stock was quoting at Rs 17.65, up Rs 1.35, or 8.28 percent on the BSE.However, performance of the stock in last one year was very bad, down 57 percent and 29 percent in last one month.