Iris Clothings Ltd on Thursday announced the launch of a Newborn Gift Set range, expanding its kidswear portfolio into the infant gifting segment, as its stock touched a 52-week high of ₹45.44 on the National Stock Exchange.
The Howrah-based garment maker said the new collection includes 4-piece, 6-piece, and 10-piece gift sets aimed at the premium new-born essentials and occasion-led gifting market. The products will be sold through the company’s distributor network, Exclusive Brand Outlets (EBOs), its Direct-to-Consumer (D2C) platform, and Quick Commerce channels.
The stock was trading at ₹43.71, down 0.62 (1.40 per cent) from its previous close of ₹44.33, after hitting an intraday high in early trade. The counter has returned 22.69 per cent over the past month and 32.07 per cent over the past year, significantly outperforming the Nifty 50, which has declined 5.27 per cent in the same one-year period. Year-to-date, the stock is up 16.38 per cent, against the Nifty 50’s negative return of 7.78 per cent. The company’s total market capitalisation stands at ₹831.56 crore.
Managing Director Santosh Ladha, in the press release filed under Regulation 30 of SEBI’s Listing Obligations and Disclosure Requirements Regulations 2015, said digital initiatives had seen encouraging traction over the past four months and that the new category would strengthen sales momentum.
Iris Clothings operates seven in-house manufacturing facilities and two warehousing units. It serves over 140 distributors across 26 states. The company’s flagship brand is DOREME.