High cotton prices, dull demand to keep textile stocks in check: Analysts

With cotton prices at home on the higher end versus global markets, analysts believe that the disparity is affecting India's global competitiveness in the near-term

Textile stocks have exhibited a mixed performance so far this calendar year (CY23), amidst higher domestic cotton prices and tepid global demand. Shares of Page Industries, Dollar Industries, Lux Industries, and VIP Clothing have declined up to 13 per cent so far in CY23, as against a 9 per cent jump in the S&P BSE Sensex.

On the contrary, shares of Arvind, Welspun India, Raymond, and Gokaldas Exports have gained up to 51 per cent, during the same period.

With cotton prices at home on the higher end versus global markets, analysts believe that the disparity is affecting India's global