Page 5 - Textile Sector

This textiles company stock has zoomed 291% in 6 weeks since split

In past six months, the stock of Raghuvir Synthetics has zoomed 2623 per cent as against a 12.6 per cent gain in the S&P BSE Sensex

GST notification to correct tax anomaly in textiles: FM

Industry says will benefit only a chosen few

Very positive industry feedback for various PLIs announced by Centre: Goyal

Union Minister urges the states to undertake suitable amendments in labour laws to take advantage of PLIs induced manufacturing growth

Monte Carlo Fashions hits 20% upper limit on near 8-fold jump in Q2 net

Further, the company's board has approved incorporation of a wholly-owned subsidiary which will leverage the growth opportunities in the "Home Textiles"

Govt, industry need to cooperate to build Brand India in textiles: Report

The government and industry needs to act as a combined force to build Brand India in the textiles and apparel sector, according to a report

Goyal calls for reducing import dependence of textile machinery segment

Union Minister Piyush Goyal has called for developing 100 Indian textile machinery champions recognised across the world and reducing import dependence of the sector through concerted efforts between the textile engineering industry and the government. Goyal also asked textile machinery manufacturers to get out of command-and-control mindset and work through plug and play to make the textile sector vibrant in name and spirit, the textile ministry said. The Minister of Commerce and Industry, Textiles, Consumer Affairs, Food & Public Distribution, made the remarks while interacting with textile machinery manufacturers in a video conference on Friday. A total of 15 textile machines manufacturers of foreign regions, 20 leading indigenous textile manufacturers and seven textile machinery and associated industry associations participated and submitted their view points. The interaction was aimed at devising possible strategy to develop a facilitating ecosystem for growth of the textiles

Govt notifies setting up of 7 mega textile parks under PM-MITRA scheme

The government has issued a notification for setting up seven mega textile parks under the PM-MITRA scheme at a total outlay of Rs 4,445 crore

Himatsingka Seide hits over 3-year high on strong demand outlook

The management said the company continues to witness strong demand for soft home products and the order books for financial year 2021-22 (FY2022) remains robust

Income tax dept detects blackmoney abroad after raids on textile group

The CBDT has claimed that the Income Tax Department has detected black money worth crores stashed abroad after it raided a leading business group involved in manufacture of textile and filament yarn.

Textile PLI scheme: 35 companies line up Rs 10,000-crore investment

The textile sector is worried about the stringent parameters, including the Rs 600-crore turnover and targets of additional incremental turnover of 25 per cent over the preceding year

Union Cabinet approves Rs 10,683-crore PLI scheme for textile sector

The scheme will attract fresh investment of over Rs 19,000 crore, a cumulative turnover of over Rs 3 trillion

Sensex ends lacklustre session 29 points down; broader indices outperform

Top Nifty gainers included Kotak Mahindra Bank, Powergrid, Grasim and BPCL, among others

China Plus One sees India's textile sector stitching a revival

Industry players also indicate that following the China Plus One strategy, there is at least a 20 per cent shift of exports from that country to India

IT, pharma, textile, auto ancillary sectors stand to gain from a weak rupee

The textiles sector saw a recovery in Q4FY21 and a weaker rupee could make it more competitive, and boost exports

Textile trading comes to a standstill in Surat amid second Covid-19 wave

The second wave of the pandemic has hit the medium- and small-scale sector like a tsunami. The first of a five-part series looks at the crisis

TCNS Clothing surges 14%, hits fresh 52-week high on heavy volumes

Accelerated store addition plans, coupled with diversification into newer categories (footwear and Aurelia Girls), are expected to fuel growth going forward

Textile industry asks govt to axe anti-dumping duty on viscose staple fibre

NCTC said the textile industry has been facing stagnation since many years due to a lack of availability of the basic raw materials of man-made fibre / filament yarn at competitive prices

This textile stock has rallied over 100% in 2 months as promoters up stake

Between November 19 and December 22, the promoters of Filatex India purchased 11.93 million equity shares worth Rs 41 crore

Textile, apparel stocks in focus; Page Ind, TCNS Clothing surge up to 14%

The demand from the home textile industry is expected to remain supportive in the near-to-medium term

Textile houses step up antiviral apparel launch as Covid-19 cases spike

Companies started their journey by manufacturing reusable masks and Personal Protective Equipment (PPE) kits, and today, they are offering a range of PPE clothing along with fashion and casual wear