Rupa’s stock soars on 'Fcuk' tie up

Knitwear major Rupa & Company was locked in upper circuit of 20 per cent at Rs 329 on the BSE in early morning trade today after the company announced that its wholly-owned subsidiary Oban Fashions Private Limited acquired the exclusive licence from French Connection Limited to manufacture and market innerwear and related products with the brand name 'Fcuk' in India.

“M/s. Oban Fashions Private Limited, a wholly-owned subsidiary of Rupa & Company, has on April 07, 2016, entered into a definitive license agreement with French Connection, whereby the said subsidiary has acquired the exclusive license from French Connection Limited to develop, manufacture, marketing and sale of the innerwear and related products with the Brand name 'FCUK' in India,” Rupa & Company said in a BSE filing.

A combined 50,060 shares changed hands and there were pending buy orders for 28,406 shares on the BSE and NSE at 09:18 am.