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A number of funds are understood to be falling head-over-heels for Kitex Garments stake at a much higher price than its CMP of Rs 13.30. According to sources, the promoters, who hold over 56%, are negotiating with some for a minority stake. Quiet accumulation on Tuesday saw 3.97 lakh shares change hands on the BSE (2-week average two lakh shares). Punters expect it to almost double turnover in '06-07. Bet is also on 100 acres of unused land in Kochi.

Jayanta Mallick

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