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Resolution for reappointment of Mr. Sanjay Dalmia as a Director of GHCL Limited not approved by its Shareholders

Resolution for reappointment of Mr. Sanjay Dalmia as a Director of GHCL Limited not approved by its Shareholders
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Stocks To Watch on 3 July, 2023: HDFC, HDFC Bank, Adani Transmission, Vedanta, Reliance Industries, Coal India, GHCL, NTPC

Stocks To Watch on 3 July, 2023: HDFC, HDFC Bank, Adani Transmission, Vedanta, Reliance Industries, Coal India, GHCL, NTPC
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GHCL | Shareholders of Gujarat Heavy Chemicals Limited vote against Sanjay Dalmia

Company has revenues of Rs 4,500 crore in last fiscal, is present in chemicals and spinning businesses

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GHCL: GHCL director fails to get enough votes to be reappointed

As much as 67.73% of the shareholders at the AGM voted in favour of the special resolution, while 32.27% voted against. "The resolution was defeated as it needed to be supported by 75% of the total voting," the company said in a regulatory filing on Saturday.

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GHCL: Why reappointment of Sanjay Dalmia to GHCL board was rejected at AGM? Shriram Subramanian explains

“The GHCL shareholders wanted change. The stock price has been range-bound while the market has surged. From that perspective, especially in the last one or two years, shareholders were angry and they wanted change.So it was not unexpected.”

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