Lenskart shares hit 52-week high after new China subsidiary

Lenskart Solutions shares gained 3.4% to hit a 52-week high of ₹628.80 after the company incorporated Wenzhou Framekart Trade in China. Its subsidiary Baofeng Framekart Technology will hold a 95% stake. The new entity will trade and procure spectacle frames and optical products. Lenskart's Q1 profit had surged 269% YoY to ₹222 crore.