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Shares of Arvind Fashions slipped 13.14% in three consecutive sessions.
On the BSE, 53,000 shares were traded in the counter so far compared with average daily volumes of 36,000 shares in the past two weeks.
The stock hit 52-week high of Rs 389.45 on 2 November 2022. The stock hit a 52-week low of Rs 218.40 on 26 May 2022.
The stock had underperformed the market over the past one month, sliding 48.98% compared with 2.52% fall in the Sensex.
The counter had underperformed the market in past one quarter, slipping 2.8% as against Sensex's 3.2% rise.
The scrip had outperformed the market in past one year, rising 8.79% as against Sensex's 4.61% rise.
On the technical front, the stock's daily RSI (relative strength index) stood at 38.423. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.
On the daily chart, the stock was trading above its 50-day, 100-day and 200-day simple moving average (SMA) placed at 339.13, 317.53 and 293.55 respectively.
Arvind Fashions is in the business of marketing and distribution of branded apparels and accessories.
The company's consolidated net profit surged 118.7% to Rs 18.22 crore on 45.5% jump in net sales to Rs 1181.81 crore in Q2 FY23 over Q2 FY22.
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