Page 3 - Textile Sector

Income tax dept detects blackmoney abroad after raids on textile group

The CBDT has claimed that the Income Tax Department has detected black money worth crores stashed abroad after it raided a leading business group involved in manufacture of textile and filament yarn.

Textile PLI scheme: 35 companies line up Rs 10,000-crore investment

The textile sector is worried about the stringent parameters, including the Rs 600-crore turnover and targets of additional incremental turnover of 25 per cent over the preceding year

Union Cabinet approves Rs 10,683-crore PLI scheme for textile sector

The scheme will attract fresh investment of over Rs 19,000 crore, a cumulative turnover of over Rs 3 trillion

Sensex ends lacklustre session 29 points down; broader indices outperform

Top Nifty gainers included Kotak Mahindra Bank, Powergrid, Grasim and BPCL, among others

China Plus One sees India's textile sector stitching a revival

Industry players also indicate that following the China Plus One strategy, there is at least a 20 per cent shift of exports from that country to India

IT, pharma, textile, auto ancillary sectors stand to gain from a weak rupee

The textiles sector saw a recovery in Q4FY21 and a weaker rupee could make it more competitive, and boost exports

Textile trading comes to a standstill in Surat amid second Covid-19 wave

The second wave of the pandemic has hit the medium- and small-scale sector like a tsunami. The first of a five-part series looks at the crisis

TCNS Clothing surges 14%, hits fresh 52-week high on heavy volumes

Accelerated store addition plans, coupled with diversification into newer categories (footwear and Aurelia Girls), are expected to fuel growth going forward

Textile industry asks govt to axe anti-dumping duty on viscose staple fibre

NCTC said the textile industry has been facing stagnation since many years due to a lack of availability of the basic raw materials of man-made fibre / filament yarn at competitive prices

This textile stock has rallied over 100% in 2 months as promoters up stake

Between November 19 and December 22, the promoters of Filatex India purchased 11.93 million equity shares worth Rs 41 crore

Textile, apparel stocks in focus; Page Ind, TCNS Clothing surge up to 14%

The demand from the home textile industry is expected to remain supportive in the near-to-medium term

Textile houses step up antiviral apparel launch as Covid-19 cases spike

Companies started their journey by manufacturing reusable masks and Personal Protective Equipment (PPE) kits, and today, they are offering a range of PPE clothing along with fashion and casual wear

Grasim Industries Q1 net profit down 66.6% to Rs 621 cr, revenue down 32.2%

Its revenue from operations declined 32.24 per cent during the quarter under review to Rs 13,621.10 crore as against Rs 20,103.04 crore in the corresponding period of previous fiscal

Revenue of cotton spinners to contract by 25-30% in FY21: Icra Ratings

This will further add to the woes of the sector which saw an estimated 5-7 per cent decline in revenue and 200-250 basis points (bps) correction in operating margins in FY20

Spike in Covid-19 cases halts revival of Surat's synthetic textile industry

Business activity across value chain is at 5-10% of the pre-pandemic level

New MSME definition to benefit downstream textiles, boost exports: experts

Several exporters can now be classified as MSMEs and avail 5% rebate under interest equalisation scheme

Textile units to see 25% spike in production costs due to Covid compliance

Some plan to operate at 50% capacity, due to huge inventory piled up with distributors and retailers before the lockdown

Govt's crucial move towards nursing 5 sectors back to health amid lockdown

These five sectors are textiles, chemicals, electronics, steel and pharmaceutical

As oblivion looms over weavers, a group is speaking for their survival

The group's chief believes that reviving the handicraft and handloom sector could be a critical step in developing a more robust economy

Coronavirus hits UP's silk, embroider trade as raw material supplies dry up

The rates of raw silk yarn and embroidery material have gone up drastically