Moneycontrol
Dec 06, 2017 12:16 PM IST | Source: Moneycontrol.com

Arvind rises 1%; Edelweiss maintains buy with target of Rs 493

Given the growth plans for brand and retail, the future cash flow requirement will be the key, says Edelweiss.

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Shares of Arvind rose more than 1 percent intraday Wednesday on the back of buy rating maintained by Edelweiss.

The broking firm has kept target of Rs 493 per share.

Edelweiss said that garments, advanced materials are the ‘wheels for future’, says management.

Given the growth plans for brand and retail, the future cash flow requirement will be the key.

It believes that carved-out textile unit may figure among fastest growing textile companies.

The share touched its 52-week high Rs 461.95 and 52-week low Rs 321.60 on 07 November, 2017 and 27 December, 2016, respectively.

Currently, it is trading 8.4 percent below its 52-week high and 31.58 percent above its 52-week low.

The company's trailing 12-month (TTM) EPS was at Rs 8.96 per share. (Sep, 2017). The stock's price-to-earnings (P/E) ratio was 47.23.

At 12:08 hrs Arvind was quoting at Rs 423.35, up Rs 0.05, or 0.01 percent on the BSE.

Posted by Rakesh Patil
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