Kitex Garments soars on plan to open merchandising office in USA

23 Sep 2014

Kitex Garments is currently trading at Rs. 507.00, up by 17.45 points or 3.56% from its previous closing of Rs. 489.55 on the BSE.

The scrip opened at Rs. 504.30 and has touched a high and low of Rs. 520.00 and Rs. 500.00 respectively. So far 121527 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 520.00 on 23-Sep-2014 and a 52 week low of Rs. 56.65 on 08-Oct-2013.

Last one week high and low of the scrip stood at Rs. 520.00 and Rs. 368.50 respectively. The current market cap of the company is Rs. 2432.00 crore.

The promoters holding in the company stood at 54.24% while Institutions and Non-Institutions held 0.38% and 45.37% respectively.

Kitex Garments has received an approval to open a merchandising office in USA as an LLC with 50% investment and other modalities which are currently being worked out. The board of directors at their meeting held on September 22, 2014 has approved for the same.

Kitex Garments is the third largest manufacturer of clothes for infants and caters to the biggest international buyers such as Gerber, Jockey, Carters, Kohls and The Childrens Place.


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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323