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The Economic Times
The Economic Times
Debaroti Adhikary

Nuvama initiates coverage on KPR Mill and 2 other textile stocks, sees up to 35% upside. Here's why

Nuvama KPR Mill Nuvama Institutional Equities China India United States

Nuvama Institutional Equities has initiated coverage on three key Indian textile players, KPR Mill, Indo Count Industries, and Sanathan Textiles, citing the ongoing shift in global sourcing away from China. The brokerage has assigned 'Buy' ratings to all three stocks, with upside potential of up to 35%.

According to Nuvama's thematic report titled ‘Textiles – The Loom Turns Toward India’, the brokerage highlighted that the global textile market, which is currently valued at around $1.6 trillion, is witnessing its largest sourcing shift in two decades. With China's share of US apparel imports having nearly halved over the past decade, alternative manufacturing hubs like India, Vietnam, and Bangladesh are competing for the surrendered market share.

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