TCNS clothing share: Shares of TCNS Clothing on Wednesday climbed 11% to the day’s high of Rs 618.8. The rally in the company’s shares comes after a media report suggested that Mukesh Ambani’s Reliance Retail and Falguni Nair’s Nykaa Women Apparel Company are eyeing promoter stakes.
What is report?
According to a media report, Reliance Retail, Aditya Birla Fashion, Trent, Nykaa and other private equity investors (including TPG Capital and Advent International investors) have shown interest in buying TA Associates’ approximately 29% stake in TCNS Clothing Is. Explain that investment bank Avendus Capital is advising the private equity firm for the stake sale.
Shares fell 25% in a year
TCNS Clothing stock has fallen close to 25% in the last one year. The stock is currently trading down 35% from its 52-week high of Rs 932.55. According to trendline data, this stock can go up to Rs.686. The company’s portfolio of brands includes brands including Wishful, W, Aurelia and Eleven, among others.