Arvind Mills ends lower

DALAL STREET SPIKES

Arvind Mills ended lower as the company's third-quarter results failed to impress the market. The stock was down from an intra-day high of Rs 62.30 to close at Rs 54, down Rs 8, as the company announced a 47.5 per cent drop in net profits at Rs 19.21 crore.

The counter witnessed volumes of more than 16.55 lakh shares at the BSE. Arvind Mills has been in the limelight along with other textile stocks for the last couple of months as these companies are expected to be major beneficiaries of the post-quota regime in 2005.

As a result, the stock has risen from a low of Rs 18.55 in April last year to the current levels.