 "Lovable Lingerie extends gain post Q4 results")
Lovable Lingerie has rallied 10% to Rs 278 on the BSE amid heavy volumes in an otherwise subdued market.
In the past three trading sessions, the stock has outperformed the market by gaining 15% as compared to 0.12% decline in S&P BSE Sensex.
The standalone net profit more than doubles to Rs 3.17 crore in March 2016 quarter (Q4FY16) against Rs 1.33 crore in Q4FY15. Net sales rose 41% to Rs 36.08 crore from Rs 25.53 crore in a year ago quarter.
Lovable Lingerie, one of India's leading women's innerwear manufacturers, said that it has entered into a distributorship agreement with Hanes Italy S.r.L (an overseas company of Hanes Brands group) & acquired non-exclusive third-party right to import, distribute, promote and sell certain of its products under the "Lovable" trademark within the territory of India for a period of 3 years.
The company has decided not to renew die brand sublicensing agreement with "Global Merchandising" after the elapse of the term of 1 year, it added.
At 10:37 AM, the stock was up 9% at Rs 274 on the BSE. A combined 906,670 shares already changed hands against an average sub 40,000 shares that were traded daily in past two weeks on the BSE and NSE.
In the past three trading sessions, the stock has outperformed the market by gaining 15% as compared to 0.12% decline in S&P BSE Sensex.
The standalone net profit more than doubles to Rs 3.17 crore in March 2016 quarter (Q4FY16) against Rs 1.33 crore in Q4FY15. Net sales rose 41% to Rs 36.08 crore from Rs 25.53 crore in a year ago quarter.
Lovable Lingerie, one of India's leading women's innerwear manufacturers, said that it has entered into a distributorship agreement with Hanes Italy S.r.L (an overseas company of Hanes Brands group) & acquired non-exclusive third-party right to import, distribute, promote and sell certain of its products under the "Lovable" trademark within the territory of India for a period of 3 years.
The company has decided not to renew die brand sublicensing agreement with "Global Merchandising" after the elapse of the term of 1 year, it added.
At 10:37 AM, the stock was up 9% at Rs 274 on the BSE. A combined 906,670 shares already changed hands against an average sub 40,000 shares that were traded daily in past two weeks on the BSE and NSE.