Future Lifestyle Fashions gains after investment in Resource World Exim

Future Lifestyle Fashions rose 1.41% to Rs 75.40 at 10:57 IST on BSE after the company said it has made investment to acquire 27.5% stake in Resource World Exim, a company engaged in fashion apparel business.

The announcement was made after market hours on Friday, 3 January 2014.

Meanwhile, the S&P BSE Sensex was down 56.64 points or 0.27% at 20,794.69.

On BSE, so far 1,970 shares were traded in the counter as against average daily volumes of 81,225 shares in the past one quarter.

The stock hit a high of Rs 77.15 and a low of Rs 75.05 so far during the day. The stock had hit a record high of Rs 148 on 1 October 2013. The stock had hit a record low of Rs 55.30 on 22 November 2013.

The stock had outperformed the market over the past one month till 3 January 2014, surging 9.74% compared with the Sensex's 0.02% fall. The scrip had, however, underperformed the market in past one quarter, declining 44.37% as against Sensex's 4.77% rise.

The small-cap company has equity capital of Rs 30.89 crore. Face value per share is Rs 2.

Future Lifestyle Fashions said that the company has made investment to acquire 27.5% stake in Resource World Exim, a company engaged in indo-fusion women's fashion apparel business under the brand "Desi Belle" in India.

Future Lifestyle Fashions is an integrated fashion company with presence across key segments within the fashion industry i.e. designs to distribution. The company's business has been designed to capture the trend of consumers getting more attuned to fashion and brand preferences. The company has a portfolio of fashion brands that cover the entire gamut of sub-categories including formal menswear, casual wear, active or sportswear, women's ethnic wear, women's denim wear, women's casual wear, footwear and accessories and are present across various price points.

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