Shares of Khadim India Ltd surged over 15 per cent to Rs 269.70 on the Sensex Friday, extending its rally for third straight day after the firm announced opening up of a subsidiary in Bangladesh. In three days, the stock has rallied over 45 per cent.
On September 10, Khadim informed the BSE it had incorporated a wholly-owned subsidiary in Bangladesh in the name of ‘Khadim Shoe Bangladesh Limited’. The firm was registered with Registrar of Joint Stock Companies and Firms, Bangladesh on September 5, and proof of registration was received on September 9, a BSE filing said.
Meanwhile, the firm told exchanges on September 11 that its non-executive, non-independent director Namrata Ashok Chotrani resigned from the board of directors with immediate effect.