Gokul Agro Resources up almost 3% as Singapore subsidiary signs JV agreement

Singapore-based Maurigo Indo Holdings has completed the acquisition of a 25 percent stake in PT Riya Pasifik Nabati in Indonesia

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Gokul Agro Resources was trading around 3 percent higher on December 13 morning after the firm’s Singapore subsidiary acquired a 25 percent stake in PT Riya Pasifik Nabati in Indonesia.

In a December 13 regulatory filing, Gokul Agro Resources said that its step-down subsidiary, Maurigo Indo Holdings Pte Ltd, based in Singapore, signed a joint venture agreement with PT Riya Pasifik Nabati and other parties as well as a transfer and assignment of share rights agreement with PT Pasifik Agro Sentosa and PT Cipta Usaha Sejati.

Maurigo Indo Holdings had completed the acquisition of a 25 percent stake in PT Riya Pasifik Nabati at Indonesia, it said.

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Also read: Edible oil industry body SEA urges govt to hike duty difference between crude & refined palm oil

Gokul Agro Resources is a manufacturer and exporter of edible, non-edible and allied products.  The company has a presence across India and in countries like Canada, Morocco, the UAE and the UK.

At 9.55 am, the stock was trading at Rs 127.50 on the National Stock Exchange, up 2.7 percent from the previous close.  Over the last five years, the stock has gained over 778 percent.

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