Published on 9/11/2017 1:16:10 PM | Source: Dion Global Solutions Ltd.
Arvind jumps over 4% on demerger plan
Shares of Arvind soared over 4 per cent on the Bombay Stock Exchange after apparel retailer announced to demerge its branded apparel and engineering business into separate companies to focus on its core textiles business. Boosted by the development, shares of the company gained as much as 4.19 per cent to touch an intra-day high of Rs 430.85 apiece on the Bombay Stock Exchange.
In a similar fashion, shares of the firm were trading 2.27 per cent higher at Rs 423.50 apiece on the National Stock Exchange. Meanwhile, the broader benchmark BSE Sensex was trading at 33,249.60, up 30.79 points, or 0.09 per cent, at 12:00 hours.
