Page Industries gets WRAP recertification; surges more than 9 per cent

Page Industries has an exclusive licence of Jockey International Inc. for manufacturing, distribution & marketing its products in India, Bangladesh, Omar, Qatar, Sri Lanka, Nepal, Maldives, Bhutan, and UAE as well as of Speedo International Ltd but only in India. 

In October, the US-based Worldwide Responsible Accredited Production (WRAP), which is responsible for certification dedicated to lawful, ethical & safe manufacturing globally, had launched an investigation against Unit-3 of Page Industries post alleged human rights violations against the employees. The company went onto disapprove of the allegations but WRAP conducted its standard procedural audit of Unit-3, and recently, re-certified the facility as socially compliant.

Commenting on this, Vedji Ticku, CEO of Page Industries said, “We are glad to share that WRAP was fully satisfied with the social standards, practices & compliance at the facility and has issued a re‐certification of the unit. All our manufacturing units are WRAP-certified and undergo audit by WRAP on an ongoing basis.”

The market reacted positively to this news along with factoring optimistic outlook towards National Textile Policy, which is slated to be announced soon.

On Thursday, Page Industries became one of the top gainers of the market, registering a new 52-week high of Rs 27,921.80. Meanwhile, the stock ended today’s trading session at Rs 27,247.45, up by 5.04 per cent on BSE.