Kitex Garments share price hit 10 percent upper circuit of Rs 164.10 per share on BSE after Telegana government approved its expansion plan.
“The proposal submitted by Kitex Garments before the Government of Telegana towards expansion plan has been approved,” the company said in exchange filing. The government order will be issued within a few days, it said.
The stock was trading at Rs 164.10, up Rs 14.90, or 9.99 percent. It has touched an intraday high of Rs 164.10 and an intraday low of Rs 154.80. There were pending buy orders of 113,537 shares, with no sellers available.
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Net profit of Kitex Garments jumped 62 percent to Rs 20.51 crore in the quarter ended June 2021 as against Rs 12.66 crore during the previous quarter ended June 2020.
The company's sales surged 71 percent to Rs 153.78 crore in the quarter ended June 2021 as against Rs 89.60 crore during the previous quarter ended June 2020.
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