KPR Mills, Raymond, Arvind: PLI scheme may trigger rally up to 23%

The shares of textile sector have witnessed renewed buying interest by market participants after the Union Cabinet approved the production-linked incentive (PLI) scheme on Wednesday.

The shares of textile companies are witnessing renewed buying interest by market participants after the Union Cabinet approved the production-linked incentive (PLI) scheme on Wednesday. The shares of K.P.R. Mill and Raymond jumped almost 2 per cent today, trading with bullish outlook. Arvind had surged 5 per cent in trades yesterday.

The PLI scheme for textiles is part of the overall announcement of the scheme for 13 sectors made earlier during the Union Budget 2021-22, with an outlay of Rs 1.97 lakh crore. Incentives worth Rs 10,683 crore will be provided over 5 years. READ ABOUT IT