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Arushi Sen

Mumbai, July 18 The stock of Himatsingka Seide has been rising steadily on the bourses on news of the company acquiring a US brand in the home linen space within the month. The stock has risen 17.18 per cent month on month and 2.64 per cent for the week. This deal would be the company's third acquisition this year.

Earlier this year, it acquired 70 per cent of Italian retailer, Giuseppe Bellora SPA, and US-based distributor Divatex Home Fashions. When contacted, Mr Shrikanth Himatsingka, Executive Director, said that he couldn't comment on a specific brand acquisition. However, he said they were looking at the acquisition of brands and distributors in the home linen space. The stock increased 2.64 per cent on Wednesday to close at Rs 132.

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