India's textile stocks extend gains on India-UK trade deal

S.P.Apparels

08/05/2025 07:28

** India's textile stocks surge for second consecutive session after Britain and India clinch landmark trade deal

** Welspun Living WLSP.NS, Gokaldas Exports GOKL.NS, and S.P. Apparel SPAP.NS jump 7.4%-7.6%, all three hit three-month highs

** KPR Mill KPRM.NS jumps over 6% to hit lifetime high

** The deal, between the world's fifth and sixth largest economies, has been concluded after three years of stop-start negotiations and aims to increase bilateral trade by a further 25.5 billion pounds ($33.90 billion) by 2040

** UK imports ~$25 billion of textiles per year, which is dominated by China (21%) and Bangladesh (13%), while India's share is 5%-6%, Jefferies says

** The new deal, which paves way for zero tariffs on most textile imports into UK, puts Indian companies at par with Bangladesh and Pakistan, and at an advantage compared to China - brokerage

** Among other textile stocks, Trident TRIE.NS, Arvind Ltd ARVN.NS, and Alok Industries ALOK.NS up 2.6%, 3.4%, and 5.5%, respectively

($1 = 0.7522 pounds)

(Reporting by Vivek Kumar M)

((VivekKumar.M@thomsonreuters.com))