Galaxy Entertainment Corporation(GECL).
a public limited company is India's premier professionaly managed leisure and entertainment organisation. It operates South Asia's largest state of the art premium family entertainment centre. This entertainment centre at Mumbai comprises Bowling and other game facility, bars and banquet halls. GECL is a unique JV partnership created by The Chatterjee Group, a leading venture capitalist and the Ruias, the owners of Phoenix Mills, where the entertainment centre functions.
from last year annual report
Your Company proposes to expand the existing business operations by opening more Family Entertainment Centres (FECs) and Sports Bar in different states of the Country. The Company has sold/transferred the restaurant division "Rain Bar + Eatery" on slump sale basis to its wholly owned subsidiary namely Galaxy Lifestyle Restaurants Limited.
During the period under review, your Company has entered into a Joint Venture with M/s. Ridge Foods, a division of Ridge Hospitals Private Limited. The proposed Joint Venture has been set up under a new Company namely RAIN FRUITS & MORE PRIVATE LIMITED.
Barring unforeseen circumstances, your Directors are optimistic of reporting better results in the current year.
OPEN OFFER
In accordance with the requirements of Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997, Pantaloon Retail (India) Limited consequent to acquisition of 20 lac equity shares on preferential basis had made a Public Announcement on 23rd February, 2005 to acquire up to 25,42,400 Equity Shares representing 20% of the total paid up equity share capital of the company at a price of Rs.51/- per share. Accordingly, the said acquirer party has during the period under review made an open offer for acquiring the aforesaid shares.
the company price has fallen from all time high 420 on 2005 to 76 . present price 82. to open offer price51 u have risk of 30 rs if u take 30rs risk u will get 300% return for a year time
company performance was started from i quarter .so take a chance
attention :- it has posted loss (63laks)for this quarter causing high Depreciation but achived turnover17 cr againest 7cr last year . hold for one -two years. for better returns
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I agree. There was an article on this stock had appeared in MoneyLife Issue dated 8 November 2007. Excerpts from the article are as under : Quote A lifestyle stock that can go places. This is one company which has been a very early entrant in the organized leisure and entertainment business – running restaurants, a bowling alley and gaming centres. Galaxy is one of the rare ones which is listed and must attract attention. A large chunk of equity is owned by the Ruias of Phoenix Mills, where several of Galaxy’s restaurants are located. Galaxy has a chance to achieve its true potential. If Pantaloon starts taking interest, which it should, the company will record exponential growth. Unquote. It has been my experience with this magazine that it really recommends good multibaggers. Thanks again for sharing information about this stock.
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