Rupa & Company Surges 20% On French Connection Tie-Up

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Shares of innerwear makers such as Rupa & Company, Lovable Lingerie and Page Industries were in limelight on Monday in an otherwise dull market.

Rupa & Company’s shares were locked in upper circuit of 20 per cent at Rs 329.40 on the Bombay Stock Exchange after the company announced that its subsidiary Oban Fashions Private Limited acquired the exclusive licence from French Connection Limited to manufacture and market innerwear and related products with the brand name ‘FCUK’ in India.

Shares of Lovable Lingerie surged as much as 10.36 per cent to hit intraday high of Rs 257.70 on the back of heavy volumes. And Page Industries, which manufactures innerwear under the brand name of Jockey, also surged 6.75 per cent to hit Rs 13,700 at day’s high.

As of 10:11 a.m., Rupa & Company (up 20 per cent), Lovable Lingerie (up 6.15 per cent) and Page Industries (0.6 per cent) outperformed the Nifty which was down 0.16 per cent.