India's Future Lifestyle Fashions gains; co to invest in Koovs

Future Lifestyle Fashions

05/07/2018 06:20

** Future Lifestyle Fashions Ltd  FLFL.NS  rises as much as
5.2 pct to 420 rupees
    ** Co said on Wednesday it would invest about 1.40 bln
rupees ($20.35 mln) in online fashion retailer Koovs Plc
 KOOV.L   urn:newsml:reuters.com:*:nFWN1U0094
    ** This will give co access to online fashion platform,
something that had been missing from its portfolio - Jefferies
analysts
    ** Co will be able to operate an omni-channel play along
with its physical store network and push its own brand portfolio
- Jefferies
    ** With the deal, both FLFL and Koovs look set to gain,
Jefferies analysts write, maintaining "buy" rating and PT of 540
rupees
    ** More than 163,000 shares change hands, compared with the
30-day avg of 97,000
    ** Stock had gained 15.5 pct this year as of last close
($1 = 68.8100 Indian rupees)

 ((Reuters Messaging:
krishna.vkurup.thomsonreuters.com@reuters.net))