India's Arvind Fashions jumps most in a year on beauty biz sale

ARVIND FASHIONS

03/11/2023 07:59

** Arvind Fashions  ARVF.NS  jumps 11.5% in heavy volume on
deal to sell its beauty brands
    ** Stock posts its biggest intraday pct climb since Sept 27
    ** Apparel retailer to sell its beauty brands division to
Reliance Retail for about $26 mln
    ** ARVF was already up 2.4% before the news
    ** Reliance Industries  RELI.NS  has barely budged from its
0.3% gain before the news
    ** ARVF last up 7.3%, which flips stock to YTD gains of ~1%
    ** Stock set for its busiest trading day since Dec 2022
 
 ($1 = 83.2500 Indian rupees)

 (Reporting by Kashish Tandon in Bengaluru)
 ((kashish.tandon@thomsonreuters.com))