The cotton textile industry will have to wait for some more time before the government and the Reserve Bank of India (RBI) finally come to their rescue and restructure their debt.

Textile firms' loan restructuring in a pause mode

Business Standard

Spending on the high street has never been cheaper for such a long period. If you walk through the city&rsquo;s Linking Road that houses showrooms of some of the world&rsquo;s biggest brands, it&rsquo;s almost a surreal experience: be it Mango, Vero Moda, Jack &amp; Jones, or shoe brand Aldo &mdash; all these premium retailers are literally shouting from their rooftops that they are offering up to 70 per cent discounts.

Retailers' mantra: Sell more for less

As the turmeric prices falling neat to cost of production, farmers are likely to get support from government procurement. Turmeric is not covered under minimum support price mechanism and hence state agencies procure this saffron from south on commercial basis only.

AP seeks union govt's permission to procure turmeric

The Andhra Pradesh government has sought central approval for procurement of 25,000 tonnes of turmeric under the market intervention scheme, to stop the fall in prices of the spice.

To stop price slump, Andhra seeks Centre's approval to buy turmeric

As you walk into the Hypercity store in Malad on the western suburbs of Mumbai, you are bound to see a lot of changes in the shop floor. While the caf&eacute; on the left hand side has moved to the first floor, the apparel section has come to the ground floor. The section on consumer durables and electronics on the first floor has been reduced, while the home wear segment has expanded.

Hypercity flashes value card

Margin pressure is taking a toll on the share prices of leading textile companies. Last week, the share price of Alok Industries, S Kumars Nationwide, Arvind Ltd, Bombay Dyeing, Raymond and Vardhaman Textiles, among others, fell between five per cent and 24 per cent even while the BSE&rsquo;s benchmark index, the Sensex, was down just two per cent.

Textile stocks under margin pressure

Bombay Dyeing, the 133-year-old textile company of the Wadia group, plans to enter the e-commerce space by launching its e-tailing site to sell its bed and bath products soon, said sources from the company.

Bombay Dyeing to foray into e-commerce

Sugar output is likely to decline by four per cent in the coming season, on lower recovery from the standing cane crop, due to deficient monsoon rainfall.

Deficient monsoon to hit sugar output 

Planet Retail is set to bring Monsoon, the UK-based high street fashion brand, popular for its &lsquo;boho chic&rsquo; (bohemian) fashion, to India soon, said two sources privy to the development.

Planet Retail to bring UK's Monsoon to India

The depreciating rupee may have benefited textile exporters, but the debt-laden industry&rsquo;s expansion plans are hit by the same falling currency, as costs of importing textile machinery have shot up.

Weak Re hits textile firms' expansion

Turmeric is expected to see a drastic fall of 50- 60 per cent in the area under sowing from last year, due to a sharp fall in its price, with farmers having suffered heavy losses. The production cost is Rs 40 a kg but the current market price is Rs 30-35 a kg.

Steep fall likely in turmeric sowing, after year's price sag

In a major sign of revival in the Indian textile industry after three months of sharp downturn, registration for yarn exports shot up by 17.8 per cent in May on renewed demand from the traditional markets, including North America and Western Europe.

Textile industry spins revival news

Apparel manufacturers fear there would be a supply crunch in the coming festive season, as workers at some leading mills in Ahmedabad are on a strike. These manufacturers, who start procuring fabric for the festive season at this time of the year, are already facing problems in procurement.

Apparel makers foresee supply crunch

Yarn exporters in the northern region believe the export of additional two million bales (1 bale=170 kg) of cotton, allowed on Monday, may have a cascading effect on availability of the commodity.

Yarn industry fears cotton deficit by end of season

The Union textile ministry has appointed Bank of Baroda Capital, the merchant banking subsidiary of Bank of Baroda (BoB), to prepare a debt restructuring plan for the textile industry. Confirming the development, sources in BoB said the bank was expected to submit its recommendations by next week.

BoB Cap to prepare debt rejig package for textile industry

After almost a decade, gold has slipped into a bear grip, losing 17 per cent from its all-time high of $1,900 an ounce recorded in September 2011. Silver is down 40 per cent since its all-time high of a year before. Even in the current financial year beginning April, gold has fallen 5.4 per cent, while silver has lost 11.1 per cent so far, not seen since a decade.

Bullion market now in hands of bears

With many new companies entering the denim fabric space and the existing companies expanding their production capacities in anticipation of high demand, experts fear enhanced competition would put pressure on denim makers&rsquo; profit margins.

Denim makers' margins may come under pressure

Pranab Barua, business director, apparel and retail business of the Aditya Birla Group, recently took over as the chief executive officer of Aditya Birla Retail Ltd (ABRL). He is also a part of the fashion council overseeing a recent deal between Aditya Birla Nuvo and the Kishore Biyani-led Future Group. In his first interview after becoming the CEO of the group&rsquo;s retail chain, he discusses the company&rsquo;s strategy with Raghavendra Kamath &amp; Sharleen D&rsquo;Souza.

We are not here for speed but for the long term: Pranab Barua

The textile and finance ministries are expected to meet next week to discuss restructuring of loans for the textile sector, according to sources. Representatives of the Reserve Bank of India may also attend the meeting.

Textile, finance ministries to meet next week

Potato has suddenly become a favourite commodity of traders on the futures platform. Along with prices, open interest (OI), has gone up significantly since the beginning of this year, which indicates traders see a potential in potato contracts.

Potato futures do a guar, rise sharply on low output estimates

Potato has suddenly become a hot favourite for commodity traders on futures platforms. Along with prices, open interest (OI) has gone up tremendously since the beginning of this year which indicates that traders see potential in potato contracts going forward.

Sharleen Dsouza