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PAGEIND - Page Industries News Story

₹29501.15 -294.8  -1.0%

Last Trade - 09/04/21

Sector
Consumer Cyclicals
Size
Large Cap
Market Cap £3.21bn
Enterprise Value £3.19bn
Revenue £243.5m
Position in Universe 124th / 3106

BUZZ-Shares in Jockey's Indian partner Page slip after probe by apparel watchdog

Wed 14th October, 2020 9:23am
** Shares in India's Page Industries Ltd  PAGE.NS  — the
partner of U.S. underwear and leisurewear maker Jockey — fall as
much as 3.2%
    ** A top apparel industry watchdog has launched an
investigation into a factory run by Page following allegations
of human rights abuses, Reuters reported  urn:newsml:reuters.com:*:nL4N2GR3AF
    ** Page has denied wrongdoing and called allegations of
verbal abuse and workplace intimidation against employees
"outrageous"
    ** Norway's $1 trillion sovereign wealth fund had dropped
Page from its investment portfolio due to concerns of human
rights violations at the factory  urn:newsml:reuters.com:*:nL8N2FX1X3
    ** The apparel watchdog, WRAP, told Reuters the factory
could lose its WRAP certification if its investigation finds any
serious non-compliances with its principles
    ** A WRAP certificate is much sought after by garment
facilities as it provides assurance to global apparel brands
that a factory adheres to certain ethical and safety standards
    ** Shares of PAGE, last down 1.6% as of 0815 GMT, have
fallen nearly 13% this year

 (Reporting by Sachin Ravikumar)
 ((saisachin.r@tr.com; +91 80 6749 7649; Twitter: @sachinr27))
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