Arvind Limited, the flagship company of Arvind group, announced its quarterly result yesterday on 4thAugust 2016. The company reported the growth of 18% to Rs. 2,104 crores compared to Rs. 1,787 crores of corresponding quarter last financial year. Consolidated EBIDTA went up by 16% at Rs. 241 crores as aginst Rs. 208 crores of Q1FY16. The profit after tax before the exceptional items grew by 27% to Rs. 74 crores in comparison to Rs. 58 crores in the same quarter last year. The business reported 14% growth in revenue and is continuing to deliver a strong performance. The brand business, continuing its strong development, has reported the growth of 26% this quarter.
The result has led to the marginal rise in the Arvind share price. The stock has seen a lot of movement before its quarter result. The stock changed hands 2.19 times higher than the average volume on 2nd August 2016 and then again on 3rd of August by 1.22 times. On the day of the result, the stock was traded by over 2.5 times volume. Currently, Arvind share price was trading at the rise of almost 2% at Rs. 310 at 10:08 A.M. The scrip went as high as Rs. 312.45 intraday and as low as Rs. 307.35.
Dynamic Levels have identified the stock among top 500 performers. The stock has the Debt-equity ratio of 1.21 and the current ratio of 2.04. From a total of 25.82 crores of shares, 43.78% is held by Indian promoters, 22.89% by FIIs, DIIs hold 16.11% and others hold the remaining 17.21%. Arvind share price has been trading near its closest resistance level of Rs. 314.45, while its closest support stands at Rs. 288. For more details on the resistance and support levels of the stock, visit Arvind share price forecast page of Dynamic Levels website and for other details visit Arvind share price history page.
No comments:
Post a Comment