Arvind had hit a new high yesterday at Rs.167.70 and today, once again, today, it hit a new high in the morning trades at Rs.168.90. The stock is currently at Rs.167.15.

The stock has been up since yesterday after it announced that it has picked up a 49% stake held by the Murjani Group in Calvin Klein in India. With this, Arvind and PVH Corp are expected to drive Calvin Klein’s business in the country.

This is being viewed as extremely positive for the stock as this acquisition gives it more brands which in turn will help improve its retail margins. The company already has almost all the top notch denim brands – US Polo, Tommy Hillfiger, Ed Hardy, Flying Machine and now Calvin Klein, meaning that it now caters to brands priced right from Rs.750 to as high as Rs.10,000.