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S Kumars rises

March 19, 2010

S Kumars touched an 18-month high on Friday and was the top mid-cap index gainer with volumes as high as 17 million shares.

Shares in S Kumars Nationwide Ltd ended 19.6 percent higher at 64.65 rupees. The company is looking to raise between $100 million to $150 million by listing its subsidiary, Reid & Taylor, in which the company holds nearly 75 percent.

The company is also talking to private equity (PE) firms to spin off its brand ‘Belmonte’, Managing Director and Vice Chairman Nitin Kasliwal told Reuters in an interview.

The counter has posted a weekly gain of over 30 percent and yearly gains of over 50 percent.

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