GTPL Hathway shares up 8% on sale of subsidiary

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GTPL Hathway share price added 8 percent in the early trade on November 19 after the company sold its entire stake in its subsidiary.

The company has sold its entire 61.50% stake in GTPL Space City Private Limited on November 18, 2020.

Consequently, GTPL Space City has ceased as a subsidiary of the company.

The share purchase agreement has been executed and the sale completed on November 18, 2020.

The company has received a consideration of Rs 18,74,520 from the said stake sale.

At 09:25 hrs GTPL Hathway was quoting at Rs 132.50, up Rs 7.85, or 6.30 percent on the BSE.

The share touched its 52-week high Rs 139.60 and 52-week low Rs 33.00 on 12 October, 2020 and 25 March, 2020, respectively.

Currently, it is trading 5.09 percent below its 52-week high and 301.52 percent above its 52-week low.