According to an industry expert, companies such as Trident, Welspun India, Arvind, KPR Mill, Vardhman Textiles, Page Industries, Raymond, and Alok Industries stand to gain, as revenue from the US market accounts for 20-60 per cent of their earnings.
Indian companies feel it will be difficult to take on the competition from Bangladesh, Cambodia and others, with their made-in-India products. Ethiopia offers ready-to-use sheds, income tax breaks, training subsidies, and a tax-free gateway into the US, Europe and China. Moreover, labour is available for $60 per month compared to $130-$150 in India.
Backed by the China-plus-one policy, India's textile and apparel exports have seen a 53 per cent growth during the April-November period of the current fiscal year at around $26 billion. This compares to the figure of $17 billion during the same period in FY21. According to Wazir Textile Index, all major companies including Welspun, Vardhman, Trident, KPR Mills, Indo Count, RSWM, Filatex, Nahar Spg and Indorama have posted higher sales during the first half of the current fiscal year compared to the pre-pandemic year.
Andhra Pradesh secondary education minister K Parthasarathy was on Wednesday sentenced to two months' simple imprisonment by a court in Hyderabad in a 13-year-old case of Foreign Exchange Regulation Act violation.
Ajit Mishra, vice president, Research, Religare Broking, answers your stock market queries.
The growth prospects of KPR Mills look more promising than those of SEL Manufacturing.
One employee on roller-skates can now operate a 120-150-ft spinning frame with 1,000 needles as it weaves cotton fibre into yarn, a task that used to require two on foot.
'Kindly advise about the following stocks. Can I hold or exit?'
The rally in most of these stocks is partly attributed to impressive financial performance.
While Mcleod Russel, ADF Foods, Indiabulls Real Estate, DCM Shriram and BSE have announced buyback through open market route, the remaining 23 companies plan to buy back their shares via tender offers
Investors remain cautious ahead of F&O expiry.
It is the fundamentals of companies that will drive stock performance.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
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