Kitex locked in 10% upper circuit on Telangana govt approval for expansion plan.

The shares of Kitex Garments were locked in the 10 per cent upper circuit recently 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.

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.

HBL