Arvind Fashions: On Tuesday, November 7, shares of Arvind Fashions increased by about 8% after the leading lifestyle company revealed its July–September quarter results for fiscal 2023–24 (Q2FY24). The company reported a 32% increase in net profit at ₹37 crore, compared to ₹28 crore in the same period the previous year.
In the second quarter of the current fiscal year, the company’s revenue from operations was ₹1,266.9 crore, up 7.2% from ₹1,181.8 crore in the same period last year.
Why Arvind Fashions’ stock increased by more than 7% today: An explanation
Practically speaking, the business’s
A 7.5% gain was made in the session to reach an intraday high of ₹374.05, just a few points below the 52-week high point of ₹377.25 on the BSE, for shares of these, which opened on Tuesday at ₹347.90.
In weak global cues and with waning optimism over the end of monetary tightening, key equity indices Sensex and Nifty 50 ended their three-day winning streak today due to profit booking in a few heavyweights.
Both the Sensex and the Nifty 50 closed at 64,942.40, down 16 points and 0.03 percent, respectively. The Nifty 50 closed at 19,406.70, down 5 points. As of ₹366.70 per share on the BSE, Arvind Fashions’ shares had settled 8.59 percent higher.
