Indian garment makers surge on demand hopes amid Bangladesh unrest

Go Fashion (India)

06/08/2024 06:00

** Shares of Indian textile companies and garment makers
surge between 3-11%
    ** Welspun Living  WLSP.NS  climbs 9%, Trident  TRIE.NS  up
8%, Gokaldas Exports  GOKL.NS  jumps 11% 
    ** KPR Mill  KPRM.NS  rises 6%, Arvind  ARVN.NS  gains 4.3%,
Arvind Fashions  ARVF.NS  is up 3.5%, Go Fashion  GOFA.NS  gains
3%
    **  Political unrest in Bangladesh is expected to disrupt
the country's clothing industry, potentially affecting global
apparel retailers
    ** Bangladesh was the third-largest clothing exporter in the
world last year
    ** There are some hopes that because of political unrest,
big brands outsourcing their manufacturing in Bangladesh may see
India as an option - Pratik Tholiya, analyst with Systematix
    ** Some of the business may come to India. But, the
manufacturing setup in India is not as robust as Bangladesh -
Tholiya 

 (Reporting by Sethuraman NR in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (+91 9945291420); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))