Sell Arvind, target Rs 330: Manas Jaiswal

Manas Jaiswal of manasjaiswal.com has a sell call on Arvind Ltd. with a target price of Rs 330. The current market price of Arvind Ltd. is Rs 344.85. Time period given by the analyst is Intra Day when Arvind Ltd. price can reach the defined target. Manas Jaiswal recommended to keep stoploss at Rs 351. Arvind Ltd., incorporated in 1931, is a midcap company with a market cap of Rs 8918.41 crore.

Arvind Ltd. key Products/Revenue Segments include Textiles which contributed Rs 5611.09 Crore to Sales Value (94.21 % of Total Sales), Export Incentives which contributed Rs 198.28 Crore to Sales Value (3.32 % of Total Sales), Waste Sales which contributed Rs 90.07 Crore to Sales Value (1.51 % of Total Sales), Other Operating Revenue which contributed Rs 39.74 Crore to Sales Value (0.66 % of Total Sales) and Sale of services which contributed Rs 16.50 Crore to Sales Value (0.27 % of Total Sales)for the year ending 31-Mar-2017.

For the quarter ended 30-06-2018, the company has reported a Consolidated sales of Rs 2860.96 Crore, down -4.32 % from last quarter Sales of Rs 2989.99 Crore and up 15.59 % from last year same quarter Sales of Rs 2475.03 Crore Company has reported net profit after tax of Rs 64.06 Crore in latest quarter. The company’s top management includes Dr.Bakul Dholakia, Mr.Dileep C Choksi, Mr.Jayesh K Shah, Mr.Kulin S Lalbhai, Mr.Nilesh Shah, Mr.Punit S Lalbhai, Mr.Samir Mehta, Mr.Sanjay S Lalbhai, Mr.Vallabh Bhanshali, Ms.Renuka Ramnath. Company has Deloitte Haskins & Sells LLP as its auditoRs As on 30-06-2018, the company has a total of 258,617,069 shares outstanding.