Arvind Fashions stock prices surges in debut trade after demerger process
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Shares of Arvind Fashions, which deals in apparels and accessories, jumped 5 per cent in its debut trade Friday following a demerger process. The stock advanced by 4.99 per cent to close at Rs 621.30 -- its upper circuit limit -- from its opening price on the BSE. The scrip opened the day at Rs 591.75.
On the National Stock Exchange, shares of the company climbed 4.99 per cent to close at Rs 620.45. The company's market valuation stood at Rs 3,603.21 crore on the BSE.
Arvind Ltd had in 2017 announced it would spin off its branded apparel and engineering businesses into separately listed companies to focus on its core textiles business.
(With inputs from agencies.)
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