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Kitex's exit raises fresh doubts about Kerala as an investment destination


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kitex garments share price: Kitex Garments surges 46% in a week as company moves to Telangana


Sabu Jacob, chairman of Kitex Group, has reiterated that his group would not make any further investments in home-state Kerala. The labour department of Kerala govt has withdrawn showcause notices issued to the company on the minimum wage issue.
Kitex Garments has surged over 46 per cent in the last one week. The counter has delivered 55 per cent return in the last one year.
Likhita Chepa of CapitalVia Global Research said despite the company s ROE appearing to be low, it is higher than the industry average. She has a target price of Rs 185 on the counter. The company is retaining most of its earnings to fuel its growth but the earnings have actually shrunk, she added. ....

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