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Welspun net up multi-fold on strong sales - The Hindu BusinessLine
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Market ahead: Ahead of Market: 12 things that will decide stock action on Thursday
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sensex: Sensex drops 274 points led by sell-off in pharma stocks; Dr Reddy s tanks 10%
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Market ahead: Ahead of Market: 12 things that will decide stock action on Wednesday
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Not just big names, even retail investors and institutional investors piled on select stocks from the sector. In 2021 till now, 38 stocks from this space have delivered multibagger returns; 24 have more than doubled since April 1, reflecting solid investor interest. This is reminiscent of the rally in metal stocks that multiplied between October 2020 and May 2021.
This is at the time when the situation is yet to turn favourable for the business. JM Financial expects home textile players to report sequentially flat profit growth in Q1. However, things may change drastically from here on.
Analyst commentaries have turned bullish on the textile sector. In the financial year 2021, the home textile segment saw a 7-8 per cent drop in revenues. However, that is likely to grow 20-22 per cent this financial year, said Crisil.