Future Lifestyle Fashions FLFL5 Jul 2018 14:30
Source: Reuters
** Future Lifestyle Fashions Ltd rises as much as 5.2 pct to 420 rupees
** Co said on Wednesday it would invest about 1.40 bln rupees ($20.35 mln) in online fashion retailer Koovs Plc
** This will give co access to online fashion platform, something that had been missing from its portfolio - Jefferies analysts
** Co will be able to operate an omni-channel play along with its physical store network and push its own brand portfolio - Jefferies
** With the deal, both FLFL and Koovs look set to gain, Jefferies analysts write, maintaining “buy” rating and PT of 540 rupees
** More than 163,000 shares change hands, compared with the 30-day avg of 97,000
** Stock had gained 15.5 pct this year as of last close ($1 = 68.8100 Indian rupees)