Page 4 - Textile Sector

Pakistan's textile units shut down due to shortage of cotton after floods

The already fragile Pakistan economy, hit hard by the devastating floods, now faces the shutdown of textile factories as the cotton crop has been destroyed

'Adverse global conditions present a challenge for textile demand'

Cotton Council International executives say zero tariff regime should continue as it is beneficial to mills

High cotton prices to spoil apparel stocks' outlook in near-term: Analysts

At the bourses, shares of textile stocks like KPR Mills, Welspun India, and Vardhman Textiles have tumbled up to 45 per cent so far this year.

After slow start to 2022, Surat textile industry looks for festive cheer

However, orders have been lower 30% compared with normal between mid-July and early August

GST rule change for small businesses a game-changer for ONDC: Goyal

Goyal said another big advantage is for the small retailers who are very keen to engage with ecommerce

Surat's textile hub consolidated as small players failed to survive GST

This ground report from the diamond city captures the travails of small-scale units

Spreading textile hubs

Govt must focus on downturn in cotton production

Firm cotton prices to keep yarn-spinning stocks in check: Analysts

Analysts expect that the inflated cotton prices will continue to haunt small-sized yarn spinners during the first half of FY23 (H1-FY23). However, a good monsoon season can paint a different story

Page Industries gains 8% on strong operational performance in March quarter

The company said that the sales momentum picked up significantly across all product categories backed by expansion in portfolio and existing network.

Stalin writes to PM Modi seeking relief for beleaguered textile industry

M K Stalin says several units staring at closure, urges mandatory declaration of cotton and yarn stock, easier cash credit limits for mills to buy cotton

Import duty removal on cotton may help bring down prices: Textile Secy

The government's decision to remove import duty on cotton is likely to help bring down prices of the commodity, Textiles Secretary U P Singh said on Thursday. The finance ministry on April 13 waived customs duty on cotton imports till September 30, a move that will benefit the textile industry and keep prices low for consumers. Currently, cotton imports attract 5 per cent Basic Customs Duty (BCD) and 5 per cent Agriculture Infrastructure Development Cess (AIDC). The industry has been demanding a waiver of duty to lower domestic prices. "It would enable people who want to import. We are expecting that within a day or two, you would certainly see the impact on prices going down but at the same time we would not expect the prices to be very low because there is a shortage all over (the world)," Singh told reporters here. In India, cotton crops get affected because of unseasonal rains, and in the US, there were drought-like conditions. "So supply is less, demand is high....import duty

Stocks to Watch: Adani Group, JSW Steel, JSPL, IndiGo, SpiceJet, Textiles

Steel stocks are likely to be in limelight following reports of price hike in April.

Textile demand momentum to continue in FY23: India Ratings

The ratings agency cited that reduction in logistics issues for export demand will aid in keeping healthy demand

Textile sector pitches for removing import duty on all varieties of cotton

The Centre estimates cotton production in 2021-22 at 36.25 million bales, while traders said it was around 33-34 million bales

Nitin Spinners gains 4%, hits record high on hopes of strong earnings

Currently, the stock is traded under the T Group, which represents securities that are settled on a trade-to-trade basis as a surveillance measure.

Textile sector seeing a structural turnaround; here's how to play the theme

The stocks in the sector are also ripe for a re-rating as robust export opportunities give strong and sustainable earnings visibility

Stocks to Watch: RIL, Airtel, HUL, SBI, DB Realty, pharma, steel, textiles

Reliance Jio plans its biggest ever rupee bond sale, while Bharti Airtel shelves its plans to de-merge its core telecom business

Arvind, KPR Mill, Gokaldas: Textile stocks that can gain up to 12%

Major textile stocks are witnessing sideways to breakout formations, this may see stronger interest of market participants.

Stocks to Watch: Textiles, Amara Raja, Airtel, TCS, ITC, Ajanta Pharma

Textiles shares shall be in limelight as the government has released the operational guidelines for the production-linked incentive (PLI) scheme

Host of changes in GST law to come into effect from January 1, 2022

The GST regime will see a host of tax rate and procedural changes coming into effect from January 1, including liability on e-commerce operators to pay tax on services provided through them by way of passenger transport or restaurant services. Also, the correction in inverted duty structure in footwear and textile sectors would come into effect from Saturday wherein all footwear, irrespective of prices, will attract GST at 12 per cent while all textile products, except cotton, including readymade garments will have 12 per cent GST. While the passenger transport services provided by auto rickshaw drivers through offline/ manual mode would continue to be exempt, such services when provided through any e-commerce platform would become taxable effective January 1, 2022, at 5 per cent rate. The procedural changes that would come into effect include e-commerce operators, such as Swiggy and Zomato, being made liable to collect and deposit GST with the government on restaurant services ...