Rupa has a daily capacity to produce over 700,000 pieces of finished goods.
Shares of innerwear makers such as Rupa & Company, Lovable Lingerie and Page Industries were in limelight on Monday in an otherwise dull market.
Rupa & Company's shares were locked in upper circuit of 20 per cent at Rs 329.40 on the Bombay Stock Exchange after the company announced that its 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.
Siddhant Agarwal of Rupa & Company told NDTV that the company expects compounded annual growth rate of 35-40 per cent for the FCUK business.
Mr Agarwal added that the company has entered into a definitive agreement with FCUK for 10 years and will expand product portfolio for FCUK.
Shares of Lovable Lingerie surged as much as 10.36 per cent to hit intraday high of Rs 257.70 on the back of heavy volumes. And Page Industries, which manufactures innerwear under the brand name of Jockey, also surged 6.75 per cent to hit Rs 13,700 at day's high.
As of 10:11 a.m., Rupa & Company (up 20 per cent), Lovable Lingerie (up 6.15 per cent) and Page Industries (0.6 per cent) outperformed the Nifty which was down 0.16 per cent.