Arvind jumps to 52-week high after large bulk deal

Arvind surged 5.26% to Rs 146 at 14:51 IST on BSE after 1.39% equity changed hands in a bulk deal on BSE today, 2 January 2014.

A bulk deal of 36.05 lakh shares was struck on the Arvind counter at Rs 150 per share at 14:14 IST on BSE today, 2 January 2014.

Meanwhile, the BSE Sensex was down 195.54 points or 0.92% at 20,944.94

Bulk deal boosted volume on the scrip. On BSE, so far 55.44 lakh shares were traded in the counter as against average daily volume of 4.25 lakh shares in the past one quarter.

The stock hit a 52-week high of Rs 150 in intraday trade today, 2 January 2014. The stock hit a low of Rs 138.35 so far during the day. The stock had hit a 52-week low of Rs 65 on 8 August 2013.

The mid-cap stock had outperformed the market over the past one month till 1 January 2014, rising 8.61% compared with the Sensex's 1.68% rise. The scrip had also outperformed the market in past one quarter, surging 73.37% as against Sensex's 8.32% rise.

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

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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