Lux Industries in the limelight
Lux Industries, which sells apparels and accessories under the brand name of “Lux” and “Lux Cozy” is most certainly the star of the day. Intra day, the stock jumped up over 17% to Rs.3522.50 and even now, it is some Rs.448 up or 15% up at Rs.3450. Its 52-week high is at Rs.3905.
The stock is reacting to its announcement of yesterday where it stated that its Board was meeting on 12th April to consider a stock split.
Lux Industries were always listed on the Calcutta and Ahmedabad stock exchanges but saw no trades due to lack of liquidity. It was in Dec’15 that its shares got listed on BSE and NSE at Rs.3342 and within minutes of listing was locked on the upper circuit.
Founded in 1957, the company has more than 100 products in its kitty and is the largest Indian exporter of innerwears and manufactures 1.75 crore pieces every month.