Stock market analyst Rajesh Gupta of Fairwealth Securities has maintained 'buy' rating on Aarvee Denims & Exports Ltd stock with target of Rs 74-75.5.

According to analyst, the interested investors can buy the stock around Rs 71.85 with stop loss of Rs 70.5.

The stock of the company, on August 16, closed at Rs 79.40 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 83 and a low of Rs 24 on BSE.

Aarvee Denims & Exports has declared that its standalone net profit for April-June quarter zoomed 3.05 times to Rs 80.83 million as compared to Rs 26.49 million during the corresponding period of 2009.

Company's net sales during the quarter grew by 21.55% to Rs 1,002.33 million.

The company has registered a growth of 22.25% for Apr-Jun period to Rs 1,009.03 million as against the same period of last year.

Aarvee Denims & Exports Ltd said that it recorded 3.88 times growth in its quarterly EPS at Rs 3.45 a share.

The company's board has considered and sanctioned the company's capital expenditure plans for boost in denim capacity from 60 Million MTR to 96 Million MTR in 2 sengments by December next year with capex of Rs 150 crore.