KPR Mill

Stocks from manufacturing and outsourcing hubs stand to benefit under the China Plus One strategy; Technical chart shows that shares of Amber, Aurobindo and others can rally up to 33% from here on.

SBI Mutual Fund on Wednesday hiked its stake in KPR Mill to 7.74 per cent by snapping up additional 2.85 per cent shares worth over Rs 900 crore through an open market transaction. According to the bulk deal data on the BSE, SBI Mutual Fund bought 97.35 lakh shares or 2.85 per cent stake in apparel manufacturing company KPR Mill. The shares were picked up at an average price of Rs 925 apiece, taking the transaction value to Rs 900.54 crore. After the stake buy, SBI Mutual Fund's holding in KPR Mill has been increased to 7.74 per cent from 4.89 per cent. Details of the other buyers of KPR Mill's shares could not be identified on the BSE. Meanwhile, KP Ramasamy, one of the promoters of KPR Mill sold 1.05 crore shares or 3.07 per cent stake in the company at an average price of Rs 925.12 apiece. This took the deal value to Rs 971.38 crore. After the transaction, KP Ramasamy's stake has come down to 18.3 per cent from 21.37 per cent. Additionally, the combined stakeholding of promot

KPR Mill, eClerx, Granules, Cera Sanitaryware and BLS International are the 5 mid- and smallcap stocks that look strong on technical charts and can potentially gain up to 43% from present levels.

Bangladesh crisis news, textile shares: This will provide a sentimental boost for related stocks, though the rally should not be chased on this trigger alone, analysts said

Increased capacity utilisation, softening cotton prices set to help sector: Analysts

At the bourses, shares of textile stocks like KPR Mills, Welspun India, and Vardhman Textiles have tumbled up to 45 per cent so far this year.

According to the technical analyst from Anand Rathi, KPR Mill can rally to Rs 640, while Thermax can surge to Rs 2,400.

According to the analyst from Anand Rathi, KPR Mill can rally to Rs 595, while Shriram Transport Finance can surge to Rs 1,500 in the near term.

Analysts expect that the inflated cotton prices will continue to haunt small-sized yarn spinners during the first half of FY23 (H1-FY23). However, a good monsoon season can paint a different story

With 24% correction in June, the stock of the garments & apparels maker has corrected 38% from its record high level of Rs 771.80

Major textile stocks are witnessing sideways to breakout formations, this may see stronger interest of market participants.

In the past 11 trading days, KPR Mill's market price has advanced 16 per cent after the company announced the successful commissioning of its new 42 million garments production capacity at Tamil Nadu.

Shares of Arvind Limited have formed a "Golden Cross" symbolizing a positive outlook for the upcoming sessions, according to the daily chart

The stock quoted ex-split from Friday onwards, and in the last one month had rallied 42 per cent.

The company will sub-divide the face value of equity shares from Rs 5 each to a lower denomination to make the stock more affordable for the small retail investors and increase liquidity

The company said that the new expansion project of 42 million garments factory and sugar cum ethanol plant was progressing as per schedule

According to experts, demand from the home textile industry is expected to remain supportive in the near-to-medium term

The company said enquiries from the current clientele as well as from the new markets are much encouraging

As per media reports, the US has imposed restrictions on the import of certain products such as cotton and apparels from the Xinjiang Autonomous Region in China

Further, companies such as KPR Mill, which had withdrawn their buybacks following the unexpected tax outgo, have restored their buyback plan