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Raymond, Indias second largest textile maker by market value, will sell the entire stake it owns in Colorplus Fashions to Raymond Apparel as part of the companys initiative to consolidate the apparel business. Raymond wants to take advantage of a rise in demand for expensive clothing in India as economic growth boosts incomes. Shares of Raymond, which have gained 27 per cent since the start of the year, rose Rs 1.45, or 0.4 per cent, to Rs 403.8 rupees at close on the Mumbai stock exchange. |
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| Posted : 9/15/2005 |
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