VIP Industries gains 20% on merger plan announcement
DALAL STREET SPIKES
| Around 69 thousand shares were traded on the exchange as against the average of seven thousand shares. |
| Blow Plast is the marketing arm of the group and owns the largest luggage marketing network in the country. It plans to expand its retail presence and is gearing up to increase the number of its exclusive showrooms, VIP Lounge, from 42 to 84. |
| VIP Industries is the manufacturing arm and owns brands like VIP and Carlton. Its domestic sales are routed through Blow Plast. It is among the larger moulded luggage manufacturers in Asia. It also brands soft luggage, whose manufacturing is entirely outsourced. |
| Besides, its luggage business that contributes 90 per cent of revenues, the company also manufactures moulded furniture, selling under the 'Moderna' brand. |