Apparel maker Kitex soars to all-time high

Reuters Market Eye - Kitex Garments jumped as much as 9.3 percent on Monday to its all-time high of 448.80 rupees.The stock is up more than five-fold in 2014.

Broker Motilal Oswal starts with a "buy" rating and a target of 651 rupees.

Motilal Oswal says Kitex has a "strong presence" in infant wear, where competitors have struggled due to "stringent" safety norms. It also notes the company's plans to diversify towards higher margin clients.

Widely followed Indian investor Ashish Kacholia owns 1.05 percent in Kitex, as per BSE data.

(Reporting by Abhishek Vishnoi)