Kitex Garments share rises 54% in four sessions as firm announces investment in Telangana | Hybiz

Shares of Kitex Garments hit a 52-week high of Rs 165 as they rallied 17 per cent on the BSE in intra-day trade on Monday on the back of heavy volumes. The stock of Kitex Garments, one of the world's leading infant apparel manufacturers, has gained 50 per cent in three days after the company announced a Rs 1,000 crore investment in Telangana.Monday on opening, the stock was trading 16 per cent higher at Rs 163 on the BSE, as compared to a 0.53 per cent rise in the S&P BSE Sensex. The trading volumes on the counter more-than-doubled, with a combined 5.8 million equity shares having changed hands on the NSE and BSE so far.Kitex group chairman Sabu Jacob on Sunday said his company plans to initially invest Rs 1,000 crore in Telangana in the first phase and assurances to that effect have been given to the Telangana government.
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