Arvind shines on inking MoU with DyStar to focus on denim manufacturing

01 Jul 2013

Arvind is currently trading at Rs. 79.55, up by 1.50 points or 1.92% from its previous closing of Rs. 78.05 on the BSE.

The scrip opened at Rs. 79.20 and has touched a high and low of Rs. 79.90 and Rs. 78.25 respectively. So far 89,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 107.50 on 16-Jan-2013 and a 52 week low of Rs. 59.05 on 30-Aug-2012.

Last one week high and low of the scrip stood at Rs. 81.50 and Rs. 74.70 respectively. The current market cap of the company is Rs. 2,052.00 crore.

The promoters holding in the company stood at 43.94%, while Institutions and Non-Institutions held 35.45% and 20.43% respectively.

Arvind has inked a memorandum of understanding (MoU) on June 21, 2013 with DyStar Group to focus on denim manufacturing. As per the agreement, the company will be using DyStar Indigo Vat 40% solution in all its Denim manufacturing facilities.

Besides, dedicated teams from both the companies will work closely together to implement new technologies in indigo dyeing and finishing as well as develop new products, processes and effects for denim fabrics and garments.

Arvind is the flagship company of the Lalbhai group. The company is one of India's leading composite manufacturers of textiles and is also among the largest denim manufacturers in the world. It also manufactures a range of cotton shirting, denim, knits and bottom weights (Khakis) fabrics. Arvind also markets branded apparels.

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