Metro Brands gains on entering into Distribution Agreement with New Era
Metro Brands is currently trading at Rs. 1310.15, up by 4.15 points or 0.32% from its previous closing of Rs. 1306.00 on the BSE.
The scrip opened at Rs. 1306.20 and has touched a high and low of Rs. 1361.25 and Rs. 1306.00 respectively. So far 1272 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 1440.45 on 30-Nov-2023 and a 52 week low of Rs. 992.65 on 04-Jun-2024.
Last one week high and low of the scrip stood at Rs. 1391.15 and Rs. 1300.00 respectively. The current market cap of the company is Rs. 35515.76 crore.
The promoters holding in the company stood at 74.15%, while Institutions and Non-Institutions held 8.65% and 17.20% respectively.
Metro Brands has entered into a long-term exclusive Distribution Agreement with New Era Cap Company (New Era) for distribution and sale of New Era’s Products viz, Caps, Hats, Visors, Apparel, Accessories and all other headwear in India through Kiosks, brick and mortar stores and other channels of trade. The Agreement has multiple dates and gates for renewal.
Metro Brands is one of the largest Indian footwear speciality retailers and is amongst the aspirational Indian brands in the footwear category.
