Rupa & Co hits the roof after signing agreement with French Connection

Rupa & Company was locked at 20% upper circuit at Rs 329.40 at 09:54 on BSE, after the company's wholly-owned subsidiary entered into a definitive license agreement with French Connection.

The announcement was made after market hours on Friday, 8 April 2016.

Meanwhile, the S&P BSE Sensex was down 29.86 points or 0.12% at 24,643.98

On BSE, so far 19,405 shares were traded in the counter as against average daily volume of 2,669 shares in the past one quarter. The stock hit as high of Rs 329.40 and a low of Rs 305.10 so far during the day. The stock had hit a record high of Rs 451.30 on 1 June 2015. The stock had hit a 52-week low of Rs 201.10 on 8 May 2015. The stock had outperformed the market over the past one month till 8 April 2016, gaining 4.57% compared with 0.06% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, sliding 7.95% as against Sensex's 1.04% fall.

The small-cap company has equity capital of Rs 7.95 crore. Face value per share is Re 1.

Rupa & Company announced that its wholly-owned subsidiary, Oban Fashions, had on 7 April 2016, entered into a definitive license agreement with French Connection to develop, manufacture, market and sell innerwear and related products with the brand name 'FCUK' in India.

Rupa & Company's net profit rose 78.4% to Rs 14.09 crore on 27.2% growth in net sales to Rs 225.41 crore in Q3 December 2015 over Q3 December 2014.

Rupa & Company is a leading undergarments manufacturer and a leading hosiery and knitwear company in India

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