Arvind gains on licensing agreement with Hancsbrands
By IRIS
11th February 2013 01:18 PM
Arvind, one of the largest integrated
textile and branded apparel players, gained on Monday after its
subsidiary Arvind Lifestyle Brands announed an agreement to market
and sell basic and intimate apparel in India under the Hanes and
Wonderbra brands, two of the largest and well known global apparel
brands, under a licensing agreement with US based Hancsbrands. It
will also acquireHanes Brands India operations.
Shares ofthe companyare trading at Rs
90.70, up Rs 1.4, or 1.57% at the Bombay Stock Exchange (BSE) on
Monday at 11:43 a.m.The scrip has touched an intra-day high of Rs
91.50 and low of Rs 88.65. The total volume of shares traded at the
BSE is 141,392.In the earlier session, the shares lost 0.39%, or Rs
0.35, at Rs 89.30. Currently, the stock is trading down 15.63% from
its 52-week high of Rs 107.50 and above 53.6% over the 52-week low
of Rs 59.05.
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