Among smallcaps - Natco Pharma, Neuland Laboratories, Inox India, Welspun Living and GE Shipping shares have witnessed the formation of 'Double Bottom' pattern on the technical charts.
Welspun Living shares fell 3 per cent after it reported a 93 per cent drop in second-quarter profit, with analysts remaining cautious in the near term
Homex textiles major Welspun Living Ltd on Wednesday reported a 93 per cent decline in consolidated net profit at Rs 14.86 crore in the second quarter ended September 30, with exports hit by global tariff war. The company had posted a consolidated net profit of Rs 202.4 crore in the same quarter last fiscal, Welspun Living Ltd said in a regulatory filing. Consolidated revenue from operations in the second quarter stood at Rs 2,440.91 crore as against Rs 2,873.09 crore in the corresponding period last fiscal, it added. Textile business revenue was at Rs 2,322 crore, down 14.4 per cent, while flooring segment revenue at Rs 181 crore, a drop of 27.4 per cent. Total expenses in the quarter under review stood at Rs 2,431.84 crore as compared to Rs 2,655.87 crore in the year-ago period, the company said. Commenting on the performance, Welspun Group Chairman, BK Goenka said,"The global tariff situation continues to weigh on export performance, but we remain confident this is a passing ..
Welspun Living, Gokaldas Exports, Pearl Global, Vardhman Textiles, Trident, Kitex Garments, Nahar Spinning and Himatsingka Seide rallied between 5 per cent and 12 per cent.
Textile stocks traded largely negative, falling up to 4 per cent, after 50 per cent tariffs levied by the US on Indian goods came into effect from August 27, 2025
Textile stocks rallied in Tuesday's intra-day trade after the finance ministry removed the 11 per cent duty on raw cotton imports for a period of 42 days till September 30, 2025.
In the past week, textile stocks have fallen by up to 18 per cent following Trump's announcement of a 25 per cent tariff
In the medium to long term India's tariff rate are competitive with other major exporting countries and hence exports order will normalise once tariff effect gets absorbed in the market.
Titan, Gokaldas Exports, Welspun Living, Goldiam International and Indo Count are likely to decline up to 27% from here, as stocks break below key support levels; show technical charts.