India's V2 Retail jumps after unveiling expansion plans

V2 Retail

22/04/2024 10:53

** Shares of apparel retailer V2 Retail  VREL.NS  up 4.6% at
514 rupees
    ** Co unveils expansion plans, allocates investment of 900
mln rupees to 1 bln rupees (around $11 mln-$12 mln)
    ** Co says it plans to add 35-40 new stores, hire over 1,500
employees
    ** Stock on track to gain for the third straight session
    ** Trading vols 1.6x 30-day avg
    ** YTD, stock has jumped ~71%, following a 191% surge in
2023
    
($1 = 83.3535 Indian rupees)

 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com;))