KPR Mills Zooms over 13 per cent as textile company stocks continue to soar
The shares of textile companies remained in limelight on Thursday. The share price of KPR Mills soared by over 13 per cent, outperforming the markets by a good margin.
Investors are bullish on KPR Mills as the stock is perceived to be a good play on 'ethanol+ Yarn + Garment' story.
The company has already announced about its decision for stock split. KPR Mills is the largest manufacturer of knitted garments and has ambitious expansion plans. The new capex of Rs 750 crs is already planned for and the company expects to do a topline of 500cr by FY23.
KPR Mills is one of the major beneficiaries of the recent government policy as their exports segment is already doing well. The share price of KPR Mills gained by more than 13 per cent with spurt in volumes of over 5.77 times.
A fundamentally strong stock, operational in sector (textile & sugar) that promises a lot; KPR Mills should be on investors watchlist.