The acquisition, whose size was not disclosed, would make the Donear Group the largest branded menswear fabric manufacturer, the company said in a statement.
Grasim Bhiwani Textiles contributes a very small proportion of Grasim's consolidated financials with a revenue/EBITDA share of less than 1 percent.
SP Tulsian of sptulsian.com advises buying Donear Industries.
To curb excessive volatility, top stock exchange BSE today tweaked the circuit limit for share movement of Patel Engineering and seven other companies.