Wednesday, November 30, 2022
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TCNS Clothing: This stock became a rocket due to the news of Reliance Retail buying stake in Nykaa

TCNS Clothing Share Price: In Wednesday’s trading session, the stock of women’s apparel company TCNS Clothing (TCNS Clothing Share) has seen a tremendous growth. Shares of TCNS Clothing rose 11 per cent to Rs 618.80 in intraday trade. However, at the close of the market, the stock closed at Rs 606.75 with a gain of 8.63 per cent.

Why did the stock jump
In fact, according to media reports, Reliance Retail and Falguni Nair’s Nykaa are in the race to buy promoters’ stake in TCNS Clothing. According to the report, Aditya Birla Fashion, Tata’s Trent along with private equity investors TPG Capital (TOG Caoital) and Advent International have also bought TCNS Clothing’s promoter TA Associates’ company. has shown interest in buying 29 per cent. It is believed that the promoters can sell their 32 per cent stake.

As soon as this news came to the fore, heavy buying was seen by the investors in the shares of TCNS Clothing. The stock opened at Rs 578 in the morning. The stock made a high of Rs 618.80. According to Wednesday’s closing price, the company’s market cap is Rs 3733 crore. The company’s revenue in 2021-22 was Rs 896 crore.

The company has legendary brands
However, in the last one year, the stock of TCNS Clothing has disappointed investors. The stock has fallen by 25 per cent in a year. At the same time, the stock has come down 35 percent from the highest level of Rs 932. TCNS Clothing manufactures apparel for women under the brand names W, Aurelia and Elleven. Film actress Alia Bhatt is the brand ambassador of apparel sold under the name of TCNS Clothing’s Aurelia brand.

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