The announcement was made during the trading hours today, 19 October 2007.

On BSE, 62,176 shares changed hands in the counter. The stock had an average daily volume of 55,841 shares on BSE in past one quarter.

Meanwhile, the BSE Sensex was down 446.87 points, or 2.48%, to 17,551.52.

The stock hit a high of Rs 111 and low of Rs 105.55 so far during the day. The stock hit a 52-week high of Rs 150 on 29 January 2007 and a 52-week low of Rs 96.15 on 04 October 2007.

The mid-cap scrip had underperformed the market over the last one month to 18 October 2007, declining 0.85% compared to the Sensex's return of 10.27%. It had also underperformed the market declining 22.84% compared to Sensex's rise of 15.63% in the past one quarter.

Himatsingka Seide (HSL)’s current equity share capital is Rs 48.72 crore. Face value per share is Rs 5.

The current price of Rs 110.05 discounts its Q1 June 2007 annualized EPS of Rs 3.76 by a PE multiple of 29.26.

DWI, headquartered in Atlanta, Georgia, has the licenses for the sourcing, marketing and distribution of luxury home textile brands - Calvin Klein, Barbara Barry and Royal Sateen. For the fiscal 2007, DWI reported revenues of $47 million.

The acquisition of DWI is in line with Himatsingka's strategy to forward integrate high-end brands and large distribution networks in the home textile space.

On 12 October 2007, Himatsingka Seide commissioned its new bed linen manufacturing facility at Hassan special economic zone (SEZ). This facility has an annual installed capacity of 20 million meters and corresponds to 9000 sheet sets a day.

Over the past 6 to 8 months, the company completed 2 international acquisitions. The first was that of the Italian luxury brand Bellora followed by the acquisition of Divatex, the 3rd largest distributor of bed linen in the United States. The combined investment made towards the acquisition of these firms was Rs 300 crore.

HSL’s net profit declined 36.4% to Rs 9.16 crore on 5% growth in net sales to Rs 39.61 crore in Q1 June 2007 over Q1 June 2006.

The company is engaged in producing and marketing silk and silk-blended furnishing, apparel fabric and blended yarn.