Page 2 - Textile Sector

Page Industries gains 8% on strong operational performance in March quarter

The company said that the sales momentum picked up significantly across all product categories backed by expansion in portfolio and existing network.

Stalin writes to PM Modi seeking relief for beleaguered textile industry

M K Stalin says several units staring at closure, urges mandatory declaration of cotton and yarn stock, easier cash credit limits for mills to buy cotton

Import duty removal on cotton may help bring down prices: Textile Secy

The government's decision to remove import duty on cotton is likely to help bring down prices of the commodity, Textiles Secretary U P Singh said on Thursday. The finance ministry on April 13 waived customs duty on cotton imports till September 30, a move that will benefit the textile industry and keep prices low for consumers. Currently, cotton imports attract 5 per cent Basic Customs Duty (BCD) and 5 per cent Agriculture Infrastructure Development Cess (AIDC). The industry has been demanding a waiver of duty to lower domestic prices. "It would enable people who want to import. We are expecting that within a day or two, you would certainly see the impact on prices going down but at the same time we would not expect the prices to be very low because there is a shortage all over (the world)," Singh told reporters here. In India, cotton crops get affected because of unseasonal rains, and in the US, there were drought-like conditions. "So supply is less, demand is high....import duty

Stocks to Watch: Adani Group, JSW Steel, JSPL, IndiGo, SpiceJet, Textiles

Steel stocks are likely to be in limelight following reports of price hike in April.

Textile demand momentum to continue in FY23: India Ratings

The ratings agency cited that reduction in logistics issues for export demand will aid in keeping healthy demand

Textile sector pitches for removing import duty on all varieties of cotton

The Centre estimates cotton production in 2021-22 at 36.25 million bales, while traders said it was around 33-34 million bales

Nitin Spinners gains 4%, hits record high on hopes of strong earnings

Currently, the stock is traded under the T Group, which represents securities that are settled on a trade-to-trade basis as a surveillance measure.

Textile sector seeing a structural turnaround; here's how to play the theme

The stocks in the sector are also ripe for a re-rating as robust export opportunities give strong and sustainable earnings visibility

Stocks to Watch: RIL, Airtel, HUL, SBI, DB Realty, pharma, steel, textiles

Reliance Jio plans its biggest ever rupee bond sale, while Bharti Airtel shelves its plans to de-merge its core telecom business

Arvind, KPR Mill, Gokaldas: Textile stocks that can gain up to 12%

Major textile stocks are witnessing sideways to breakout formations, this may see stronger interest of market participants.

Stocks to Watch: Textiles, Amara Raja, Airtel, TCS, ITC, Ajanta Pharma

Textiles shares shall be in limelight as the government has released the operational guidelines for the production-linked incentive (PLI) scheme

Host of changes in GST law to come into effect from January 1, 2022

The GST regime will see a host of tax rate and procedural changes coming into effect from January 1, including liability on e-commerce operators to pay tax on services provided through them by way of passenger transport or restaurant services. Also, the correction in inverted duty structure in footwear and textile sectors would come into effect from Saturday wherein all footwear, irrespective of prices, will attract GST at 12 per cent while all textile products, except cotton, including readymade garments will have 12 per cent GST. While the passenger transport services provided by auto rickshaw drivers through offline/ manual mode would continue to be exempt, such services when provided through any e-commerce platform would become taxable effective January 1, 2022, at 5 per cent rate. The procedural changes that would come into effect include e-commerce operators, such as Swiggy and Zomato, being made liable to collect and deposit GST with the government on restaurant services ...

This textiles company stock has zoomed 291% in 6 weeks since split

In past six months, the stock of Raghuvir Synthetics has zoomed 2623 per cent as against a 12.6 per cent gain in the S&P BSE Sensex

GST notification to correct tax anomaly in textiles: FM

Industry says will benefit only a chosen few

Very positive industry feedback for various PLIs announced by Centre: Goyal

Union Minister urges the states to undertake suitable amendments in labour laws to take advantage of PLIs induced manufacturing growth

Monte Carlo Fashions hits 20% upper limit on near 8-fold jump in Q2 net

Further, the company's board has approved incorporation of a wholly-owned subsidiary which will leverage the growth opportunities in the "Home Textiles"

Govt, industry need to cooperate to build Brand India in textiles: Report

The government and industry needs to act as a combined force to build Brand India in the textiles and apparel sector, according to a report

Goyal calls for reducing import dependence of textile machinery segment

Union Minister Piyush Goyal has called for developing 100 Indian textile machinery champions recognised across the world and reducing import dependence of the sector through concerted efforts between the textile engineering industry and the government. Goyal also asked textile machinery manufacturers to get out of command-and-control mindset and work through plug and play to make the textile sector vibrant in name and spirit, the textile ministry said. The Minister of Commerce and Industry, Textiles, Consumer Affairs, Food & Public Distribution, made the remarks while interacting with textile machinery manufacturers in a video conference on Friday. A total of 15 textile machines manufacturers of foreign regions, 20 leading indigenous textile manufacturers and seven textile machinery and associated industry associations participated and submitted their view points. The interaction was aimed at devising possible strategy to develop a facilitating ecosystem for growth of the textiles

Govt notifies setting up of 7 mega textile parks under PM-MITRA scheme

The government has issued a notification for setting up seven mega textile parks under the PM-MITRA scheme at a total outlay of Rs 4,445 crore

Himatsingka Seide hits over 3-year high on strong demand outlook

The management said the company continues to witness strong demand for soft home products and the order books for financial year 2021-22 (FY2022) remains robust