Campus Activewear jumps 5% post land acquisition in Himachal Pradesh

Shares of Campus Activewear jumped  around 5 percent in early trade on April 13 after the company acquired a parcel of land and a building from Marico in Himachal Pradesh’s Paonta Sahib.

The land measures 30 bigha 9 biswas and the acquisition was done for Rs 16.70 crore. The company believes the acquisition will help expand its capacity for manufacturing semi-finished goods and assembling footwear.

Shares of the footwear company reacted positively to the news and at 9.53 am, they were trading 3.55 percent higher at Rs 342.55 on the National Stock Exchange.

Nine lakh shares of the footwear company changed hands on the exchanges, as against the one-week daily traded average of four lakh shares.

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Campus Activewear has an annual capacity of manufacturing 108 lakh pairs of sole, 42 lakh pairs of uppers along with an assembly line for 348 lakh pairs of shoes.

To further increase its capacity, the company has proposed an additional capacity of 72 lakh pairs of sole, 36 lakh pairs of uppers and an assembly line for another 36 lakh pairs of shoes over the next 18 months.

“The capacity expansion is aimed at achieving business growth and increasing backward integration,” the company said in an exchange filing.

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