Fidelity Acquires Stake In Mid Cap Textile Company, Shares Hit 52-Week High For 4th Day

Shares of mid cap company KPR Mill Ltd has been maintaining an upward trend and hit 52-week high for four days in a row. Leading US-based fund house Fidelity Investments has acquired more than 1% stake in the textile company, according to the BSE filing of KPR Mill. Check details below:

Fidelity Acquired Stake In KPR Mills: According to the BSE filing of KPR Mill dated August 23, 2023, "KPR is happy to announce that the World's largest Fund House 'FIDELITY', the U.S. based FIl, has invested by acquiring more than 1% Equity Shares of KPR Mill Limited during last week."

KPR Mills Stock Performance & Return In Last Few Years: Current market price of KPR Mill Limited is Rs 719.80 per share with intraday surge of 0.19%. Its 52-week high price is Rs 745.00 apiece and 52-week low price is Rs 479.55 apiece, respectively. KPR Mill Limited has a market capitalisation of Rs 24,607.19 crore. KPR Mill shares rallied 10% in last 1-week only, soared 15% in last 1-month, gained 16% in last 1-year, and offered a return of 110% in last 2-years. KPR Mill stock witnessed a surge of 551% in last 3-years and gave sharp return of 5740% in last 10-years.

KPR Mills Financial Performance In Recent Quarter: The company for the quarter ended June 30, 2023 announced its consolidated total income at Rs 1615.99 crore, down 17.47% as against its last quarter total income of Rs 1958.03 crore. It declared its latest quarter net profit after tax at Rs 202.84 crore.

KPR Mills About: It is engaged in the manufacturing of product range of textile varieties such as readymade knitted apparel; fabrics; compact, melange, carded, polyster and combed yarn, among others. KPR Mill is one of the largest vertically integrated, public limited - listed company with diversified business focus spanning across yarn, fabrics, garments and white crystal sugar, according to its official website.

Disclaimer: The stock witnessed rally after Fidelity acquired 1% stake. Greynium Information Technologies and the author are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.