According to an exchange filing, the company has acquired 1,92,000 shares of Quality Exim Pvt Ltd at a price of Rs 260 as per the valuation report, amounting to Rs 4,99,20,000, from various shareholders.
Shares of garments and apparel firm Vishal Fabrics gained over 4 per cent today as the company shared details about the acquisition in an associate company.
According to an exchange filing, the company has acquired 1,92,000 shares of Quality Exim Pvt Ltd at a price of Rs 260 as per the valuation report, amounting to Rs 4,99,20,000, from various shareholders.
Currently, Vishal Fabrics holds 28.03 per cent equity share capital of Quality Exim, which is already an associate company. Post this, the acquisition was completed on March 19, 2025.
After the acquisition, the company’s stake has increased to 37.92 per cent from 28.03 per cent.
The textile company’s shares have been gaining for the last three consecutive trading sessions, yielding a return of 8 per cent.
As per BSE analytics, the textile stock has corrected 33 per cent on YTD basis while yielded a positive return of 31 per cent in the last one year.
The counter opened in green today at Rs 25 against the previous close of Rs 24.32 on the BSE. It gained further to touch the high of Rs 25.40.
Meanwhile, stock markets surged in early trade on Thursday powered by a rally in IT stocks and firm trends in the US equities after the Federal Reserve maintained its rate cut projections for this year.
The 30-share BSE benchmark Sensex jumped 478.13 points to 75,927.18 in early trade. The NSE Nifty surged 149.1 points to 23,056.70.
From the Sensex pack, Infosys, Tata Consultancy Services, Bharti Airtel, HCL Tech, Zomato, Tech Mahindra, Titan and Mahindra & Mahindra were the biggest gainers.
However, Bajaj Finance, UltraTech Cement, Adani Ports and Tata Steel were among the laggards.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,096.50 crore on Wednesday after a day’s breather, according to exchange data. Domestic Institutional Investors (DII), however, bought equities worth Rs 2,140.76 crore.
