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Bombay Rayon Fashions Ltd has seen a 27-per cent gain month-on-month on the BSE.

Dealers said rumours of the company setting up an SEZ have been driving interest in this stock. The company, which is currently undergoing expansion of its various units, is being touted as a fundamental pick.

An analyst with a leading brokerage said that the company may report good sequential growth with each passing quarter as benefits from new capacities keep flowing in. A healthy order book apart, analysts expect garments to account for about 60-65 per cent revenues in FY-07 and increase up to 80 per cent in FY-08.

Fabric revenues are expected to remain constant - Rs 200 crore post expansion also — given that internal consumption of fabric will go up. Exports to Europe account to about 60-65 per cent while the remaining is to the US. The stock ended at Rs 177.40 on the BSE.

Deeptha Rajkumar

More Stories on : Stock Markets | Stocks | Ear to the ground | Readymade Garments

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