Analysts pitching Shri Lakshmi Cotsyn to investors

Analysts have been pitching Shri Lakshmi Cotsyn to institutional investors, of late. The selling point is that the textile company will log better earnings through its newly-established apparel retailing business.

The company's entry into apparel retailing in II- and III-tier cities will help the company post better earnings in coming quarters, the analysts said. Organised apparel retailing market stands approximately at 52,289 crore in 2010, up 30% from 2008, as per analysts' estimates.

The country's garment industry is estimated to attain a growth rate of 22% by 2012. The buzz is that a recently-launched mutual fund of a public sector bank has bought shares of the company. Shares of Shri Lakshmi Cotsyn ended marginally lower at 139.20 on Wednesday.