Arvind rebounds 33% from day's low; stock trades ex-date for demerger

The stock was up 9% to Rs 120, bouncing back 33% from its early morning low of Rs 90.25 on BSE.

Shares of Arvind moved higher by 9% to Rs 120, bouncing back 33% from its early morning low of Rs 90 on BSE on back of heavy volumes. The stock of Lalbhai Group’s flagship company has turned ex-demerger for its branded apparels and engineering businesses.

At 12:15 pm, Arvind was trading 7.5% higher at Rs 118, after opening at Rs 110 on the BSE, as compared to a 0.72% rise in the S&P BSE Sensex. The trading volumes on the counter surged more than 19-fold with a combined 66.89 million equity shares changed hands on the BSE and NSE