KDS Accessories' price jumps on investment news

KDS Accessories, a garment accessories manufacturer, has decided to invest a total Tk 43.94 million to add new machinery and replacement of machine parts to boost production capacity.

Following the news, the share price of KDS Accessories rose 3.86 per cent over the previous day to close at Tk 72.70 on Sunday.

The garment accessories maker will invest Tk 16.10 million for replacement of machine parts for existing board plant of Packaging-Chattogram which will help to increase efficiency and productivity, according to a filing with the Dhaka Stock Exchange on Sunday.

The company has also decided to invest Tk 21.04 million in its button unit for adding another six tuning machines, two centrifugal casting machines and water polishing machines along with standard spare parts.

The company will also invest Tk 6.80 million to add 20 sets of braiding machines for its existing elastics and narrow fabrics unit for increasing overall efficiency and productivity.

"The addition and replacement would increase the company's annual manufacturing capacity by 0.90 million pieces of cartons, 0.13 million pieces of GG button and 9.60 million yards of draw cord and drawstring," said the filing.