Textile, apparel stocks in focus; Gokaldas, Kitex, KPR rally up to 11%

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Textile, apparel stocks in focus; Gokaldas, Kitex, KPR rally up to 11% - Business Standard

Quick Summary:

With the crisis in Bangladesh intensifying, the textile sector is likely to be a victim of the turmoil, with international buyers shifting their focus to alternative markets like India.

Gokaldas Exports rallied 11 per cent to Rs 1,022, RSMW surged 10 per cent to Rs 254.10, followed by Kitex Garments (8 per cent at Rs 227), Faze Three (8 per cent at Rs 558.50), GHCL Textiles (8 per cent at Rs 119.50), Indo Count Industries (5 per cent at Rs 395.50), KPR Mill (4 per cent at Rs 861.05) and Arvind (3 per cent at Rs 382.85).

In tandem with global retailers’ commentary, Indian Home textile and apparel exporters expect demand to improve in coming quarters.