Premier Investment Fund Kotak Mahindra International has picked 0.53% stake in Pearl Global Industries, a multinational ready to ware apparel manufacturing conglomerate, for Rs 25.28 million on Wednesday. Kotak Mahindra purchased 1,14,922 shares, at a price of Rs 220 a share.

Recently, the company has reported a sharp increase in net profit to Rs 39.68 million for quarter ended Jun. 30, 2014 compared to Rs 8.66 million for the same period last year. Net sales for the quarter declined to 1.4% to Rs 1,430.62 million from Rs 1,450.61 million in June 2013.

Shares of the company gained Rs 1.9, or 0.86%, to settle at Rs 222. The total volume of shares traded was 9,543 at the BSE (Thursday).