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Provogue (India) Ltd

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Why the stock price has increased?

Provogue has rallied 11.19% to Rs 74.55 on reports that the company is planning to enter the watches market by launching 20 models. Initially, the products will be launched in five major cities and gradually expand into other areas.

“The company expects Rs 25-30 crore revenue by selling watches in the next 18 months. To be priced between Rs 5,000 and Rs 20,000, the watches will be showcased in Provogue stores. Currently, the company has 130 stores spread cross 60 cities. Meanwhile, the company expects a revenue growth of 35-40% in the September quarter," according to newspaper reports.

Open - 67.70
High - 75.75
Low - 67.70
Close - 74.55
Previous close (01 Oct 2010) - 67.05
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