Moneycontrol
Last Updated : May 18, 2018 04:57 PM IST | Source: Moneycontrol.com

Buy Arvind Limited; target of Rs 500: Sharekhan

Sharekhan is bullish on Arvind Limited has recommended buy rating on the stock with a target price of Rs 500 in its research report dated May 09, 2018.

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Sharekhan's research report on Arvind Limited


During Q4FY2018, Arvind Limited  (Arvind)  reported  21.3%  y-o-y  revenue growth to Rs.  2,990  crore.  Revenue  from  the  textile   segment  grew  by  9.3%  y-o-y  to  Rs. 1,596.4 crore mainly led by 13% volume growth in the garment segment and 14% revenue growth in  the  woven  segment.  Fabric  volume  also improved from 56 million  metres  to  60  million meters  despite  the  decline  in  denim  domestic  volumes.

Outlook

Further, demerger of businesses such as  B&R  and  Anup  Engineering  into  separate verticals  would  enhance  shareholders’ value in  the  near  future.  Thus,  we  maintain  our Buy  recommendation  on   the   stock   with   an  unchanged price target of Rs. 500.

For all recommendations report, click here


Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

First Published on May 18, 2018 04:57 pm
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