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Kitex CMD Sabu Jacob richer by Rs 222 crore in just 7 days


Kitex CMD Sabu Jacob richer by Rs 222 crore in just 7 days
The  stock market has cheered Kitex Garments’ announcement to move out its expansion plan from Kerala to investor-friendly Telangana.
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By Express News Service
KOCHI: The stock market has cheered Kitex Garments’ announcement to move out its expansion plan from Kerala to investor-friendly Telangana. As the stock price rose, Kitex chairman and managing director Sabu Jacob became richer by Rs 222 crore in the last seven days as he owns 55% in the BSE-listed company.
The stock price of the Kochi-based kids garment maker shot up by 44.26% since Friday when Sabu announced the decision to invest Rs 1,000 crore in Telangana, dumping its earlier investment plan for Kerala following the rift with the Left government. ....

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