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The Jindal group will invest Rs.204 crore to set up facilities in a upcoming textile park in Himachal Pradesh, an official said in Shimla on Monday.

It is imperative to decrease the cost of manufacturing, including interest (or capital) cost, for turning India into a global manufacturing hub, said JSW Group Chairman and MD Sajjan Jindal while speaking at the Manufacturing Summit organised by Confederation of Indian Industry (CII).

The market extended its southward journey for the second trading session of the October month with the Sensex falling 296.02 points or 1.11 percent to 26271.97 on Tuesday. The Nifty closed way below the 7900, down 93.15 points or 1.17 percent to 7852.40. About 1120 shares advanced while 1762 shares declined on the BSE. Hindalco Industries, Sesa Sterlite, Cipla, Dr Reddy's Labs, HDFC, DLF, Jindal Steel and Cairn India were top losers, falling 3-6 percent while NTPC, Gail India and Power Grid bucked the trend, up 1-1.5 percent followed by Tata Motors, Wipro and Tata Power with marginal gains. Today Stock Tips Kitex Garments Limited for long term buy Cmp:338rs Target:475rs Return percentage:40% Duration:9-12 months 5 year CAGR return expected:25-30% 5 year target potential range:1031rs-1254rs Kitex Garments Ltd manufactures toddler wear for most of the international brands such as MotherCare, Toys R Us, Gerber etc and is ranked as the third largest company of such type in the world.Company also supplies to jockey.Group employees to over 8000 peeps.It is the only company in the world which uses Acutex 1 quality of input.Add up more safety features like 100% certified safe process and organic dyes using threads from the number 1 codes etc which makes it the most favorable supplier for infant clothes.The company has to its credit the Best Vendor Award from Toys R Us and Gerber for the past couple of years(among over 280 rivals).

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