Kitex Makes a T20 Dash; Fields Candidates in LSG Elections
Kitex has fielded candidates in all the 19 wards of the Kizhakkambalam panchayat in the forthcoming local body elections. Even though its not as surprising given lot of South Indian promoters are actively involved in politics.
If I have to play a devils advocate here then given there reach and most of the Janta depends on Kitex in some or the other way, they might win the election with majority votes. They may misuse the power.
Unsure about the long term impact on Kitex but any political connection leads to de-rating of business (Sun, Jindals etc)
This is only for informative purpose.
Discl: Holding for last 12 months. Havent bought/sold in last 3 months.
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