Kitex Garments, the world's third-largest supplier of infant wear has seen a flurry of trader interest as it moves business out of Kerala into investor friendly territory of Telangana.
ALSO WATCH: “Sad to leave Kerala, I have been kicked out,” Kitex chairman Sabu
Frustrated with 11 'checks' back to back by various control boards in Kerala the MD Sabu Jacob lietrally picked up his bag to jump on the invitation by Telangana state govt and has announced a Rs 1000 cr investment into the state.
Founded in 1992, Kitex Garment has been a quiet underperformer on the street due to overarching regulation concerns in Kerala. But the fate of the stock has changed, locked in upper circuit for third day running. Infact as per data, on July 12 there were pending buy orders of 81,844 shares, with no sellers available.