India's VIP Clothing rises after sale of factory

VIP Clothing

21/12/2022 05:34

** Shares of VIP Clothing Ltd  VIPC.NS  rise as much as 5%
to 53.95 rupees
    ** Hosiery manufacturer late on Tuesday said it recently
sold its Umbergaon factory and raised 104.1 million rupees 
($1.26 million)  urn:newsml:reuters.com:*:nFWN33A0VY
    ** Amount would be utilised to reduce bank debt, co adds
    ** Stock above its 50-, 100-, 200-day simple moving avg
since Aug. 24
    ** More than 1.1 mln shares traded as of 10:09 a.m. IST,
which is already more than Tuesday's volume of 705,035 shares
    ** Stock up 123% YTD
($1 = 82.6950 Indian rupees)
 (Reporting by Meenakshi Maidas in Bengaluru)
 ((Meenakshi.Maidas@thomsonreuters.com; Mob: +91 8921483410;))