The trigger came from reports that AL Rostamani Group, a West Asian company, may buy 25 per cent stake in the company for a total consideration of Rs 860 crore.
GHCL is a diversified company that manufactures soda ash, besides making, distributing and retailing home textiles in India and abroad.
The Al Rostmani Group is a large trading house with interests in automobiles, heavy vehicles, spare parts and services, travel, foreign exchange, real estate and infrastructure.
GHCL reported a 58 per cent fall in net profit from Rs 32.31 crore to Rs 13.45 crore in the fourth quarter ended March, 2008. The company's net sales increased by 22 per cent from Rs 249.75 crore to Rs 305.45 crore during the quarter.
