Textile stocks have exhibited a mixed performance so far this calendar year (CY23), amidst higher domestic cotton prices and tepid global demand. Shares of Page Industries, Dollar Industries, Lux Industries, and VIP Clothing have declined up to 13 per cent so far in CY23, as against a 9 per cent jump in the S&P BSE Sensex. On the contrary, shares of Arvind, Welspun India, Raymond, and Gokaldas Exports have gained up to 51 per cent, during the same period.
The elements are in place for another strong year.
China's latest decision to introduce export license management to 83 steel products from May 20 may severely hit domestic steel prices and cause a panic in the global market, analysts say.
Cooking oil rates have already witnessed a rise of almost 25 per cent since last year
Seeking to retain its manufacturing prowess, Chinese government has launched a "Made in China" campaign with a host of tax concessions coinciding with Prime Minister Narendra Modi's "Make in India" pitch.
'The impact of a devaluation will be modest on India's exports'.
Experts advise investors to buy at lower levels in the next few months and sell at the higher end of their range in the second half, reports Rajesh Bhayani.
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