ARVIND

Flash News Investment - - RECOMMENDATIONS -

We had rec­om­mended Arvind Ltd. in Vol­ume No 34, Is­sue No 27 (dated Apr 23, 2018), when the scrip was trad­ing at Rs 430. Our rec­om­men­da­tion was backed by fac­tors like ro­bust rev­enue growth and de-merger of its brand and re­tail busi­ness. We had re­viewed the stock in Is­sue No 46 (dated Sept. 3, 2018) when it was trad­ing at Rs 402. We had rec­om­mended hold­ing the stock as the com­pany had de­liv­ered de­cent num­bers in Q1FY19. How­ever, the mar­ket cor­rected ma­jorly last month, which saw de­cline in prices of al­most all small-cap and mid-cap com­pa­nies. The com­pany ex­pects spur in de­mand dur­ing H2FY19 led by fes­tive sea­son in Oc­to­ber and Novem­ber. It has es­ti­mated 20-24 per cent YoY growth in brand and re­tail busi­ness. As our tar­get date was reached, we had EX­ITED the stock on Oct 16 but in­vestors hav­ing medium term per­spec­tive should con­tinue hold­ing it.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.