India's Campus Activewear rises after land, building acquisition

Campus Activewear

13/04/2023 05:30

** Shares of Campus Activewear Ltd  CAMU.NS  rise as much as
4.8% to 346.60 rupees, their sharpest intraday pct gain since
Feb. 24
    ** Footwear co late on Wednesday said it had acquired land
and building from Marico Industries Ltd in Ponta Sahib for 167
million rupees ($2.04 million)  urn:newsml:reuters.com:*:nFWN36F0ZO
    ** Acquisition to expand its existing capacity for the
manufacturing of semi-finished goods (sole and /or upper) and
assembly of footwear
    ** More than 934,000 shares traded as of 9:51 a.m. IST, vs
their 30-day moving avg of over 1.9 mln shares 
    ** Four of 5 brokerages rate the stock "buy" or higher, and
1 "strong sell"; their median PT is 450 rupees - Refinitiv data
    ** CAMU down ~20% YTD, as of last close

($1 = 81.9450 Indian rupees)

 (Reporting by Meenakshi Maidas in Bengaluru)
 ((meenakshi.maidas@thomsonreuters.com;))