The stocks of textiles surged on October 10 after Prime Minister Narendra Modi revealed that he had spoken with US President Donald Trump, during which the two leaders discussed the “good progress” made in trade negotiations.
Investor sentiment for export-focused textile stocks was boosted by the potential for further trade talks between India and the US, which could lead to a trade deal between the two nations.
PM Narendra Modi on X wrote, “Spoke to my friend, President Trump, and congratulated him on the success of the historic Gaza peace plan. Also reviewed the good progress achieved in trade negotiations. Agreed to stay in close touch over the coming weeks.”
The recent development follows the imposition of 50 percent tariffs by Trump on Indian imports. Textile companies, which rely heavily on US imports for a significant portion of their revenue, experienced a sharp decline. This situation was exacerbated as competitors in Bangladesh and Vietnam gained a competitive edge, benefiting from much lower tariffs.
Furthermore, another reason for the rally is, according to reports, it indicates that India and the UK have set a target to double trade by 2030, with India’s textile exports to the UK currently around $2 billion (6% of the UK’s textile imports). The Indian government expects textiles to be a major beneficiary of the upcoming India-UK trade deal.
Here is the list of stocks to look out for
Sangam (India) Ltd
Sangam (India) Ltd is a leading manufacturer and exporter of dyed yarns, fabrics, and garments. The company produces a wide range of cotton and polyester products and caters to both domestic and international markets. With a strong presence in the textile industry, Sangam also focuses on the production of value-added products like premium fabrics and apparel.
With a market capitalization of Rs. 2,160.10 crores on Friday, the shares of Sangam (India) Ltd jumped upto 17.4 percent, making a high of Rs. 464.40 per share compared to its previous closing price of Rs. 395.45 per share.
Kitex Garments Ltd
Kitex Garments Ltd is one of India’s largest manufacturers of children’s apparel. The company specializes in the production of high-quality knitted garments for international markets, especially the US and Europe. Kitex is known for its focus on quality and innovation, catering to leading global brands in the garment industry.
With a market capitalization of Rs. 3,799.48 crores on Friday, the shares of Kitex Garments Ltd jumped upto 11.6 percent, making a high of Rs. 199.25 per share compared to its previous closing price of Rs. 178.40 per share.
Gokaldas Exports Ltd
Gokaldas Exports Ltd is a prominent garment manufacturer, specializing in the production of ready-made garments. The company is a major exporter of apparel, including shirts, trousers, and denim, to international markets, primarily the US and Europe. With multiple manufacturing units and a diverse product portfolio, it has built a reputation for quality and on-time delivery.
With a market capitalization of Rs. 5,798.96 crores on Friday, the shares of Gokaldas Exports Ltd jumped upto 9.6 percent, making a high of Rs. 803.50 per share compared to its previous closing price of Rs. 733.10 per share.
Indo Count Industries Ltd
Indo Count Industries Ltd is a leading player in the home textile industry, known for manufacturing bed linens, pillow covers, and other home furnishing products. The company is a major exporter of home textiles to markets in the US, Europe, and other regions. The company has state-of-the-art production facilities and a strong emphasis on sustainability in its product development and manufacturing processes.
With a market capitalization of Rs. 5,422.73 crores on Friday, the shares of Indo Count Industries Ltd jumped upto 7.3 percent, making a high of Rs. 281.35 per share compared to its previous closing price of Rs. 262.10 per share.
Pearl Global Industries Ltd
Pearl Global Industries Ltd is a well-known manufacturer and exporter of garments, particularly in the denim and casual wear segments. The company caters to international brands and retailers, providing high-quality apparel and accessories. Pearl Global is recognized for its strong supply chain capabilities and efficient production systems, which ensure timely deliveries and cost competitiveness.
With a market capitalization of Rs. 5,938.84 crores on Friday, the shares of Pearl Global Industries Ltd jumped upto 3.2 percent, making a high of Rs. 1306.55 per share compared to its previous closing price of Rs. 1265.50 per share.
Written by Sridhar J
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