Due to high volumes and optimism about an improving business outlook, shares of textile and allied companies surged up to 20% on the BSE during Monday’s intraday trading. By contrast, at 02:01 pm, the BSE Sensex was down 0.45 percent at 81,767.
Mafatlal Industries rose 14%, Donear Industries and Siyaram Silk Mills jumped 20%, and Jindal Worldwide, Zodiac Clothing Company, Shiva Mills, Suryalata Spinning Mills, and Surylakshmi Cotton Mills all saw 10% increases. Arvind, Himatsingka Seide, Vardhman Textiles, and Indo Count Industries all saw increases of between 2 and 6 percent.
In recent years, the textile industry had a healthy consolidation and is currently resuming its rising trajectory. Analysts claim that India’s exports have begun to outperform the export market, indicating a gain in market share. This is because China+1 and merchants are searching for alternatives to Bangladesh because of the country’s unstable economy.
The expansion of capacity with value-added products, the China+1 factor, the government signing trade agreements in multiple nations, the Production Linked Incentive (PLI) scheme’s incremental benefits, and market share gains in export markets all contribute to the Indian textiles industry’s promising long-term growth prospects.
Gokaldas Exports, one of the individual stocks, surged 48% in a single month to reach a new high of Rs 1,210.65. In the second half of the fiscal year 2024–2025 (H2FY2025), from October to March, the company’s management anticipates a robust recovery in performance. They also anticipate that the momentum will continue as demand in international markets improves.
Gaining market share in current regions, diversifying by acquiring customers in new markets, and increasing capacity would enable Gokaldas Exports
