Textile stocks a mixed bag; what analysts make of political instability in Bangladesh for Indian exp
Textile shares are in focus in trade after political instability in Bangladesh is boosting India's textile sector and the industry is in receipt of significant garment export orders worth billions.
The inputs further pointed that the export orders are increasing owing to the rising tensions between Vietnam and Bangladesh. Besides, flood and power crisis in the country has led to a decline in textile production by as much as 50 per cent.
The research desk added that around 10-15 per cent orders of Bangaldesh can be awarded to textile centres in Tirupur, Ludhiana and Surat.
Nevertheless, stocks from the basket traded mixed with KPR Mill, Raymond Life and Arvind Mill trading in the green with gains of between 1-2 per cent, while counters like Welspun Living, Alok Industries and Bombay Dyeing traded lower.
Bangaldesh political instability, crisis to boost textile in India
The research inputs noted that textile exporters in the country can boost their revenue by Rs 16,000 crore- Rs 24,000 crore annually. Moreover, India's share in the global textile market can see a 2 per cent jump, while its order book can be boosted by another 10-20 per cent.
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