After an almost 18 percent rise in Arvind Fashions just in January, Nuvama sees another 38 percent upside in the next 1 year. The brokerage believes the firm is perfectly positioned for a valuation re-rating. It has initiated coverage on the stock with a ‘buy’ rating and a target price of ₹660.
Arvind Fashions is well-placed to scale up brands such as Arrow, Tommy Hilfiger, Calvin Klein and Flying Machine backed by an experienced management team as showcased in the case of U.S. Polo Association (USPA).
Arvind Fashions was trading 11.76 per cent lower at Rs 295 level. The Rs 567 target by Anand Rathi suggests a 90 per cent potential upside on the stock over Friday's intraday level