textile stocks: Textile stocks on a high; what’s really driving them?


Vikram Suryavanshi of Phillip Capital says Indo Count Industries has a potential of 20% upside from the current levels as the company has a strong product profile and customer relationships.

Synopsis

Stocks such as KPR Mills, Gokaldas Exports, Lux Industries, Indo Rama Synthetics, Nitin Spinners, Filatex India, Dollar Industries and Welspun India have rallied between 30% and 70% in the last three months.

Mumbai: Textile stocks have seen a steady rise in the last few weeks with the revival in demand at home and also in the US and Europe, with several consuming centres removing curbs on outdoor gatherings and travel. Working from home (WFH) until now has also boosted the demand for home furnishings.

Management commentaries from some of the companies also indicate that they have been operating at a higher capacity. Welspun India, KPR Mills, Indo

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