The shares of Kitex Garments were locked in the 10 per cent upper circuit on Thursday after the company's proposal to invest ₹1,000 crore in Telangana towards expansion was approved by Government of Telegana.
At 10:53 , Kitex was trading at an intra-day high of ₹164.10 on the BSE, up ₹14.90 or 9.99 per cent. It had opened at ₹154.80 as against the previous close of ₹149.20. It hit an intra-day high of ₹164.10 and a low of ₹154.80.
On the NSE, it was trading at ₹164.10, up ₹14.90 or 9.99 per cent.
Also read: ‘Political parties are conspiring to tarnish Kitex’s image’
The company on Wednesday announced its proposal towards the expansion plan has been approved by the Government of Telangana. The government order will be issued within a few days, it said.
The company in July this year had said that it had agreed in principle to invest ₹1000 crore to set up apparel manufacturing facilities in the State which will create 4,000 additional employment opportunities over the next two years.
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