Investors are interested in this fashion company stock, do you own it?
The stock witnessed fresh buying because reports suggested that Reliance Retail, Nykaa, Aditya Birla Fashion, Trent and other private equity investors are eyeing the promoter stake in the company.
Shares of TCNS Clothing Co Ltd, surged more than 10 per cent in Wednesday’s session due to some positive news around it. The shares of the company attracted investors which led to a volume spurt of 4.09 times in the morning session only. However, the shares are 32 per cent down on YTD basis, due to not-so-good fundamentals.
The stock witnessed fresh buying because reports suggested that Reliance Retail, Nykaa, Aditya Birla Fashion, Trent and other private equity investors are eyeing the promoter stake in the company. The buying was also seen due to positive result posted by the company for September quarter, as revenue was up by 46 per cent.
TCNS Clothing Co Ltd is one of the leading players in women’s apparel segment. It was incorporated in 1997 and majorly caters to Indian customers. Its brand portfolio includes Wishful, W, Aurelia and Elleven. It has strong supply chain network with more than 3500 stores across the country. The Unique Selling Proposition (USP) of company is that it creates more than 2500+ new styles every year to meet the rapidly changing fashion.
Investors should keep an eye on this stock for the upcoming sessions.