The Bangladesh crisis has driven the stock prices of India’s major spinning and textile companies on an upward trajectory on Tuesday. Companies like Vardhman Textiles, KPR Mills, GHCL Textiles and Sportking experienced substantial gains during the day. Sector impactIn yarn and fabric exports, with Bangladesh being a major buyer of Indian cotton yarn and fabrics, the spinning sector may face short-term issues. A temporary slowdown in yarn sales is anticipated, but it should stabilise in a month or so, said SK Sundararaman, Chairman, The Southern India Mills’ Association (SIMA). “Bangladesh is the biggest customer for yarn exports as of now.

Source: The Hindu August 08, 2024 10:30 UTC