Archive · 31 Jul 2026
GSM Foils Shares Drop After MD Injured in Firing Incident
GSM Foils Ltd.
is a small company that makes metal foil.
One of its bosses, Mohansingh Parmar, was hurt when someone fired a gun at him in a town called Vasai-Virar.
The company told the stock market that he is getting medical help and is doing better.
Another boss, Sagar Bhanushali, was taken by the police to talk about what happened.
The company said its factories in Vasai and Ahmedabad are still working.
After the news, people who own shares in the company sold them, so the price fell a lot.
The company will keep telling the market if they learn more about the case.
GSM Foils Ltd. disclosed that Managing Director Mohansingh Parmar was injured in a firing incident in Naikpada, Vasai-Virar.
The company confirmed the incident, stating Parmar received immediate medical care and is stable.
Whole-time Director Sagar Bhanushali was taken into police custody amid the investigation.
GSM Foils said manufacturing operations in Vasai and Ahmedabad remain unaffected and will continue.
Shares fell 20% to ₹191.50 after the filing, reflecting investor concern.
- Who
- Mohansingh Parmar, Sagar Bhanushali, GSM Foils Ltd.
- What
- Firing incident involving the MD and police custody of a director
- When
- July 31 filing; incident occurred prior to that date
- Where
- Naikpada area, Vasai-Virar, Palghar district, Ahmedabad
- Why
- Investors reacted to the incident and ongoing investigation
- Company
- GSM Foils Ltd.
- Incident
- MD injured in a firing incident
- MD
- Mohansingh Parmar
- Director in custody
- Sagar Bhanushali
- Stock price drop
- 20% to ₹191.50