Buy on Arvind with a target at Rs 329: CLSA

CLSA initiates coverage on Arvind with a buy rating and a 12-month target price of Rs 329. It is the best play on India's fast-growing branded-apparel market, said the CLSA note.

The global investment bank likes its basket of top foreign names, strong product lines, retail and management capabilities. The shift from capital-intensive textile biz to asset-light, consumer-centric model is a big positive could well drive 19 per cent EPS CAGR over FY16-18CL which should also spur rerating.