Arvind rises on "Gap"

After the disappointing Q4FY15 performance, Arvind today had good news for the bourses. It announced the opening of the first GAP store in India, in New Delhi on 30th May, Saturday. One of America’s iconic brands in apparels, the company plans to have 40 stores in the next one-year or two. The market is thrilled with the prospect of this big brand adding to the earnings of Arvind, giving it a much required brand visibility.

On the financial front, the company for Q4FY15 reported a 49% drop in consolidated net profit at Rs.48 crore and this was purely on account of an exceptional expense of Rs.48 crore. Net sales was up 8% at Rs.2032 crore.

It ended FY15 with a net profit of Rs.341 crore, down 4%. The Board of Directors has recommended a dividend of Rs 2.55 for the year ended March 31, 2015.

The stock is currently up 4.25% at Rs.234.30,closer to its intra day high of Rs.236.80. 52-week high stands at Rs.341.40.