Arvind surges on plans to scale up textiles biz to Rs. 10,000 crore

Arvind is planning to expand its textiles business to Rs. 10,000 crore by 2023, from Rs. 6,000 crore now. This will be achieved through verticalisation, more garmenting, ramping up advanced materials division which is into specialised textiles and adopting newer technologies.

 Besides, the company is also planning to invest Rs. 1,500 crore over the next three years to meet its target which will be funded entirely from the company's regular cash flow.

 Arvind is India’s largest integrated textile player and is one of the oldest and most respected groups in the Textile Business in India with a market cap of Rs. 10,693.82 crore.

 Currently, the company is involved in the business activities of manufacture of all types of textile garments and clothing accessories.

 The stock after the news has opened at Rs. 408.80 per share on Thursday with a high/low of Rs.415.20/408.15 and on 12:58 pm, the stock is quoting at Rs. 412.45, up by 1.65 per cent.