Sharekhan recommended Hold rating on Arvind with a target price of Rs 95 in its research report dated May 17, 2019.
Sharekhan's research report on Arvind
For Q4FY2019, Arvind Limited’s revenue remained flat, mainly led by pressure on denim volumes; margins improved by 34 BPS y-o-y led by growth in advanced materials business. Denim sales volume will remain under pressure in the next 6-9 months; garmenting business to perform strongly in H2FY2019 as capacity increases. Revenue and PAT is expected to clock a CAGR of 8% each over FY2019-21.
We maintain our Hold recommendation with an unchanged PT of Rs. 95.
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.