ABFRL’s stock falls 15 percent from highs; improving demand, growth outlook key positives …

abfrlac2a2ac280ac299s stock falls 15 percent from highs improving demand growth outlook key positives ahead

Sumary of ABFRL’s stock falls 15 percent from highs; improving demand, growth outlook key positives ahead:

  • Shares of Aditya Birla Fashion and Retail Ltd (ABFRL) fell more than 5 percent on November 26 on the National Stock Exchange (NSE) when the broader market was weak as well.
  • This means that the stock is now down around 15 percent from its 52-week high of Rs 310 a share seen on November 10 on the NSE.
  • ABFRL’s entry into ethnic-wear, accounting for about 30 percent of the industry, boosts the total addressable market significantly.
  • This meant revenue recovery stood at about 90 percent of Q2FY20, which was a pre-pandemic quarter.
  • In Q2FY22, the recovery in lifestyle brands under which several of its clothing labels are grouped stood at around 92 percent vis-à-vis Q2FY20, whereas the recovery in its value-fashion offering Pantaloons brand lagged at 73 percent of pre-Covid level.
  • Pantaloons’ performance was relatively weaker owing to a larger share of mall stores that had prolonged restrictions.

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