US Senate has passed a bill to ban all products from China's Xinjiang in Textiles (specially cotton)
Xinjiang Province:
~Produces 80% of China's cotton.
~35% market share in apparel exports of the global trade.
Textile Industry: This is a big step forward
ICIL: Rodtep would lead to 4 pc gains per quarter. They have accrued it for Q4 and Q1 so 3 quarter gains would be 12 pc.
Gokaldas has booked 2 pc Rodtep in Q4. So it would improve liquidity in big way and we are bullish on the prospects of Gokaldas Exports and this stock can be held with a long term perspective.
Other likely beneficiaries are as following:
- Nahar Spinning
- PRECOT
- Loyal Textile
- Maris spinner
- KALLAM TEXTILE
- Winsome Textile
- Gokaldas Exports