GSM Foils Limited reports firing incident involving Managing Director; Operations continue normally

<h1>GSM Foils Limited reports firing incident involving Managing Director; Operations continue normally</h1>

GSM Foils Limited announced that an unfortunate firing incident involving its Managing Director, Mr. Mohansingh Parmar, took place in the Naikpada area of Vasai-Virar. Immediately following the incident, Mr. Parmar received medical attention and is currently receiving appropriate medical care, with his health reported to be stable and improving.

The company stated that the matter has been reported to the concerned law enforcement authorities, and an investigation is underway.

In connection with the ongoing investigation, the company confirmed that Mr. Sagar Bhanushali, Whole-time Director of GSM Foils Limited, has been taken into police custody. The Company extended full cooperation to the investigating authorities and noted that they are not in a position to comment further on the merits of the case as it remains under investigation.

Despite the developments, senior management has implemented necessary steps to ensure continuity of the company's operations. GSM Foils Limited confirmed that its manufacturing facilities located in Vasai and Ahmedabad continue to function normally. The company stated it is closely monitoring the situation and will provide further disclosures if required.

GSMFOILS Stock Price Movement​

GSM Foils Limited shares today slipped by 19.99% to settle at ₹191.50, driven down significantly from its previous close. The equity saw a traded volume of 1.27 million shares during the session.