Arvind Fashions falls for 5th straight day ahead of closure of rights issue

Yesterday, the company's right entitlement (RE) witnessed huge sell-offs

Shares of Arvind Fashions were locked in 5 per cent lower circuit at the bourses for the second straight day, down 5 per cent at Rs 149.25 on the BSE on Tuesday, ahead of the closure of its rights issue. The stock of the branded apparel company dipped for the fifth straight day, and has fallen 15 per cent during this period.

Till 12:54 pm, a combined around 41,000 equity shares had changed hands and there were pending sell orders for 270,000 shares on the NSE and BSE.

On July 9, Arvind Fashions board had approved the launch of company’s rights