Arvind Mills' shares have come off the day's highs

Shares of Arvind Mills, an integrated textiles giant, came off day's highs after the company's quarterly profit and sales fell below street's estimates.

Arvind said its first quarter Net Profit fell 36 percent to 58 crore rupees compared with 90.5 crore rupees in the same quarter a year ago. Sales during April-June rose 6 percent to 1,877 crore rupees from 1,772 crore rupees in the year ago period.

Arvind rose 3.70 rupees, or 1.4 percent, to 313.60 rupees on the National Stock Exchange, where 46.6 lakh shares were traded by 2:05 pm compared with the 5-day average of 26.5 lakh shares. Arvind had hit a high of 317 rupees earlier in trade.

Arvind's market capitalisation has jumped 34 percent in the past one year to 8,116 crore rupees as investors purchased companies which showed lower raw material costs owing to a decline in global commodity prices.

Image credit: Indiatimes