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Last Updated : Sep 12, 2019 02:55 PM IST | Source: Moneycontrol.com

Khadim India gains over 30% in two days on new Bangladesh subsidiary

Namrata Ashok Chotrani, Non-Executive, Non-Independent Director of the company has resigned from the board of directors due to personal reason.

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Shares of Khadim India have seen huge buying interest for the second consecutive session on September 12 after the company announced opening up of an arm in Bangladesh. This incidentally coincides with the resignation of independent director.

The stock rallied 32.5 percent in two straight days. It was quoting at Rs 237, up Rs 34.35, or 16.95 percent on the BSE at 1417 hours IST.

The footwear maker, on September 11, said Namrata Ashok Chotrani, Non-Executive, Non-Independent Director of the company has resigned from the board of directors due to personal reason with immediate effect.

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Moreover, Khadim has incorporated a wholly owned subsidiary in Bangladesh in the name of "Khadim Shoe Bangladesh Limited", to expand existing line of business activities in Bangladesh.

The company is registered with the Registrar of Joint Stock Companies and Firms, Bangladesh on September 5, and the proof of registration was received on September 9, it said in a BSE filing on September 10.

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First Published on Sep 12, 2019 02:55 pm
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