Vardhman Textiles, Gokaldas Exports, KPR Mill, Trident and other textile stocks jumped over 6% in early trade on Monday after the government exempted all customs duties on cotton imports for five months till October 30, 2026.
Among textile stocks, Vardhman Textiles share price jumped over 6%, followed by Pearl Global Industries, Raymond Lifestyle and Trident shares rallying over 5%.
Gokaldas Exports, KPR Mill and Welspun Living shares gained over 4% each, while Alok Industries share price surged over 3%.
In a notification issued on Saturday, the finance ministry said the import duty exemption will be effective from June 1, 2026.
The temporary duty exemption will help increase the availability of cotton for the Indian textile sector, and reduce input costs for the textile and apparel companies.
Overall, the measure is anticipated to have a positive impact on the performance of the domestic textile industry, especially the small and medium enterprises, ensuring better availability of cotton in the market, the ministry said.
(More to come)