Event Update - Kewal Kiran Clothing - ICICI Direct

• The Board recommended the issue of bonus shares in proportion of four bonus share (face value of Rs. 10 each) for every equity share held. The record date for the same is December 17, 2021 while ex-date for the same is today, December 16, 2021
• Hence, KKCL's share price has dropped to Rs. 275/ share from Rs. 1375/share

Key triggers for future price performance

• KKCL is well placed to benefit from robust demand owing to its diversified product portfolio and established distribution network. Many regional brands and unorganised apparel players are financially stressed owing to impact of pandemic, which is beneficial for organised players like KKCL
• The company has a virtually debt free status (D/E: 0.1x) with cash & investments worth Rs. 298 crore
• We model revenue, earnings CAGR of 32%, 79%, respectively, in FY21-24E

For details, click on the link below: Link to the report

Shares of Kewal Kiran Clothing Limited was last trading in BSE at Rs. 271.60 as compared to the previous close of Rs. 1354.35. The total number of shares traded during the day was 67708 in over 2697 trades.

The stock hit an intraday high of Rs. 299.00 and intraday low of 268.85. The net turnover during the day was Rs. 18756940.00.

Source : Equity Bulls

Keywords

KewalKiranClothing INE401H01017 KKCL EventUpdate ICICIDirect