Future Lifestyle Fashions announced that identified lenders, concerned banks and the Company have executed necessary agreements, deeds, undertakings and relevant documents on 30 April 2021 for Implementation of One Time Resolution (OTR) Plan under Reserve Bank of India, 6 August 2020 circular on Resolution Framework for COVI D 19 related stress.
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Arvind Fashions rose 2.31% to Rs 161.50 on bargain hunting after a recent slide.
The stock declined 8.41% in the past five sessions to end at Rs 157.85 yesterday (15 March 2021), from its recent closing high of Rs 172.35 on 5 March 2021.
In the past one year, the stock has declined by 33.65% while the benchmark Sensex has added 61.50% during the same period.
On the technical front, the stock s RSI (relative strength index) stood at 52.072. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.
The stock was trading above its 50-day, 100-day and 200-day daily simple moving average (SMA) placed at 155.77, 145.90 and 143.92, respectively.
Read more about Japan Stocks falls on third straight session on Business Standard. At closing bell, the 225-issue Nikkei Stock Average fell 121.07 points, or 0.42%, to 28,743.25. The broader Topix index of all First Section issues on the Tokyo Stock Exchange decreased 2.60 points, or 0.14%, to 1,893.58.
Further, the company said that Allen Solly Prime targets to open 500 stores in three years.
The company plans to add 250 Pantaloons stores in the next three years across 100 new towns. It is on course to increase share of private labels from 61% in FY20 to 75% in FY25. E-commerce channel scaled up 3x during FY21 and is likely to to contribute 8-10% of sales by FY25.
ABFRL is part of a leading Indian conglomerate, The Aditya Birla Group. It is India s first billion-dollar pure-play fashion powerhouse with an elegant bouquet of leading fashion brands and retail formats.
On a consolidated basis, the company s net profit stood at Rs 58.44 crore in Q3 FY21 as against net loss of Rs 37.64 crore in Q3 FY20. Revenue from operations tumbled 19.61% to Rs 2,076.19 crore in Q3 FY21 from Rs 2,582.74 crore in Q3 FY20.