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tcns clothing share price: TCNS Clothing rallies 11% amid reports of Reliance Retail, Nykaa eyeing promoter stake




Shares of rallied 11% to the day’s high of Rs 618.8 on Wednesday after a media report suggested that Reliance Retail and are considering developer stakes in the womenswear company.

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Nykaa and other private equity investors including TPG Capital and Advent International have expressed interest in buying TA Associates’ approximately 29% stake in TCNS Clothing, according to a media report.

The development may also cause developers to reduce their full or partial stake by 32%, the reports added.

For the sale of the stake, investment bank Avendus Capital would advise the private equity firm.

TCNS Clothing’s stock over the past year has fallen nearly 25% and is currently trading 35% below its 52-week high of Rs 932.55. Rs 686 is the estimated average target price for the stock, according to data from Trendlyne.

The company’s brand portfolio includes Wishful – which is a premium brand, while other brands included are W, Aurelia and Elleven.

There are a total of nine analyst ratings on the meter, four of which suggest a strong buy, two a buy, two a hold and one a strong sell.

(Disclaimer: The recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)