Arvind drops on profit booking

Arvind lost 1.7% to Rs 141.80 at 10:54 IST on BSE, with the stock declining on profit booking after the recent upmove.

Meanwhile, the BSE Sensex was down 92.49 points or 0.44% at 20,795.84

On BSE, so far 15.69 lakh shares were traded in the counter as against average daily volume of 5.11 lakh shares in the past one quarter.

The stock hit an intraday high of Rs 150 today, 3 January 2014, matching its 52-week high hit in intraday trade on Thursday, 2 January 2014. The stock hit a low of Rs 140.25 so far during the day. The stock had hit a 52-week low of Rs 65 on 8 August 2013.

The mid-cap stock outperformed the market over the past one month till 2 January 2014, rising 9.45% compared with the Sensex's 0.05% fall. The scrip had also outperformed the market in past one quarter, gaining 80.31% as against Sensex's 7.03% rise.

The company has equity capital of Rs 258.04 crore. Face value per share is Rs 10.

Shares of Arvind were on a roll recently, gaining 8.29% in three trading days to Rs 144.25 on 2 January 2014 from a recent low of Rs 133.20 on 30 December 2013.

Multiples Private Equity FII bought 36.25 lakh shares or 1.4% stake in Arvind at an average price of Rs 149.93 per share in a bulk deal on BSE on Thursday, 2 January 2014.

Arvind's consolidated net profit rose 39% to Rs 90.05 crore on 28.7% growth in total income to Rs 1736.81 crore in Q2 September 2013 over Q2 September 2012.

Arvind is India's largest integrated textile player. It is also one of the largest producers of denim fabrics and is supplier to a large number of fashion brands in the world.

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