India's PDS rises on plans to buy British firm New Lobster

PDS

16/06/2023 07:08

** Shares of PDS  PDSL.NS  rise as much as 4.71% to 354.90
rupees
    ** The design-led plug-and-play platform that provides
solutions to retailers and brands announces plans to buy 100%
stake in British apparel firm New Lobster for 1.51 bln rupees
 urn:newsml:reuters.com:*:nFWN3872BX
    ** Acquisition to help PDS expand its offering into brand
management services and wholesale distribution
    ** Acquisition to be completed on or before July 31
    ** The moving average convergence divergence (MACD) line has
been above the signal line since June 5, suggesting bullish
momentum
    ** Stock up 0.4% in 2023 vs 4% rise in Nifty 50 index
 .NSEI 
    

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))