Arvind Fashions has granted 85,000 stock options to eligible Employeeof the Company under January-2023 Grant pursuant to AFL - Employees Stock Option Scheme - 2016 (ESOS 2016). In terms of the ESOS 2016, one stock option represents/convertible into one equity share of the Company.

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The Board of Arvind Fashions at its meeting held on 05 January 2023 has noted the resignation of Piyush Gupta from the post of Chief Financial officer of the Company due to personal and family health reasons effective from close of business hours on 05 January 2023.

The Board has approved the appointment of Girdhar Kumar Chitlangia, as the Chief Financial officer of the Company with effect from 6 January 2023.

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Further, the board has approved the appointment of Girdhar Kumar Chitlangia as the CFO of the company with effect from 6 January 2023, based on the recommendation of the Nomination and Remuneration Committee of the company.

Chitlangia is a qualified chartered accountant (CA) and an experienced finance professional. In his career spanning 30 years, he has worked in leadership roles in large retail & FMCG companies both in India and abroad. Prior to joining Arvind Fashions, he has worked with More Retail, Coca-Cola Company and Super Max World.

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.

The scrip slipped 0.64% to currently trade at Rs 347.55 on the BSE.

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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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