Latest news with #VardhmanTextiles
Time of India
4 days ago
- Business
- Time of India
Steely resolve: City to get Rs 2000 cr investment for plant
Ludhiana: Soon after the visit of Madhya Pradesh chief minister, Mohan Yadav, to Ludhiana, a leading industrialist from the city announced his plan to set up a new steel plant here. Right after Yadav courted local industrialists, Sachit Jain, vice-chairman and managing director, Vardhman Special Steels, announced Rs 2,000 crore investment for the plant. During Yadav's visit, several units, including Vardhman Textiles, announced investments in Madhya Pradesh. Voicing concerns about the increasingly volatile conditions at home, with both the government and environmental activists leaving them cornered, local industrialists evinced keen interest in the MP CM's pitch. "We have just announced a Rs 2,000 crore investment in a new steel plant that will come up in Ludhiana," Jain said at a gathering. "This city, with its unmatched energy and dynamism, is the right place to do it," he added. Interacting with industrialists and experts during a discussion on manufacturing excellence organised by the Chamber of Industrial and Commercial Undertakings (Cicu), Jain revealed that the decision was made after a comparative analysis of opportunities in nine states. "The opposition is criticizing this government, saying industry is going to MP for investments but we have just announced that we are going to invest in a steel plant in Ludhiana," he said. Days ago, Madhya Pradesh chief minister Dr Mohan Yadav visited the city pitching an attractive set of investment incentives, ranging from 40% capital subsidy, machinery and labour subsidies and incentives to streamlined clearances and pro-industry infrastructure, among other announcements. The visit sparked keen interest from several business leaders, with some industry associations committing investments and others sharing plans to take delegations to MP.
Economic Times
7 days ago
- Business
- Economic Times
Gokaldas Exports, other textile stocks zoom up to 8% as US slaps 35% tariff on Bangladesh
The newly announced tariff, set to take effect on August 1, is slightly lower than the 37% rate initially proposed in April. Nevertheless, it remains well above the standard 10% baseline and is likely to affect Bangladesh's competitiveness in the global garment supply chain. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Shares of Indian textile companies including Gokaldas Exports Vardhman Textiles , and Arvind Ltd zoomed up to 8.2% in intraday trade on Tuesday, July 8, after the US administration, under President Donald Trump, announced a 35% tariff on Bangladesh, with specific implications for the apparel and textile shares of Gokaldas Exports surged 8.2% on Tuesday, reaching a high of Rs 974.70, and leading the gains among textile stocks . Vardhman Textiles shares followed closely, rising 7.9% to touch Rs 537.70. KPR Mill shares climbed 4% to reach Rs 1,204.85 during the session, while the shares of Arvind Ltd gained 2.9%, hitting an intraday high of Rs newly announced tariff, which takes effect from August 1, is a slight drop from the 37% rate that had been proposed earlier in April. However, it still stands significantly above the standard 10% tariff baseline and is expected to impact Bangladesh's competitiveness in the global garment supply the US has left the door open for negotiations in the weeks leading up to the implementation, the announcement has already prompted a reassessment of sourcing strategies among American tariff escalation comes on the heels of a recent trade agreement signed between the US and Vietnam, which imposes a 20% tariff on direct Vietnamese exports and a steeper 40% duty on transshipped goods—exports routed through Vietnam but originating in other countries to bypass tariff India faces a 10% tariff on textile exports to the US, but due to product classifications and differential rates, some segments experience tariffs as high as 26%. The shift in tariff dynamics is expected to realign competitive advantages, especially if further negotiations tilt in India's is likely to closely track the developments around a potential trade agreement between India and the US, especially after the return of an Indian delegation from Washington last week. Any easing of tariff burdens on Indian textile exports during such a deal could help improve India's price competitiveness and expand its market share in the it should be noted that if tariff levels remain unchanged for Indian goods while others are adjusted downward, especially for Vietnam, India's advantage in the export market may narrow.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Time of India
7 days ago
- Business
- Time of India
Donald Trump slaps 35% tariff on Bangladesh, Indian textile stocks jump 8%; Gokaldas Exports, Vardhman prime gainers
Donald Trump is back with new tariff plans for 14 countries, including Bangladesh with 35 per cent, Japan with 25 per cent, Korea with 25 per cent, and others. Additionally, the president on Tuesday said that they are 'close to making a deal with India' soon. Following the announcements, shares of Indian textile players saw their shares rally over eight per cent in the morning session on Tuesday, July 8, after the US imposed the sweeping tariff on Bangladesh. According to a Money Control report, the imposition of such high tariffs on Bangladesh makes locally manufactured textile exports more competitive in comparison in global markets. While the announcement represents a slight decrease from the 37 per cent rate announced in April, it remains above the baseline rate of 10 per cent. However, there is still an opportunity for negotiation until August 1, which is when the tariffs will come into effect. 🚨 BREAKING: Trump Strikes Again with New Tariffs! 🇺🇸💥In a bold move that could reshape global trade dynamics, former President Donald Trump has announced sweeping new tariffs, hitting key countries across Asia and Africa. Here's the breakdown:🇲🇾 Malaysia – 25%🇰🇿 Kazakhstan… Donald Trump's 35 per cent Tariff on Bangladesh's Impact on Domestic Textiles At 9.25 a.m., the shares of the domestic textiles fluctuated a bit; here's a look: Gokaldas Exports: The shares of the globally reputed Indian apparel manufacturer and exporter noticed a jump of 7.8 per cent to Rs 970. Vardhman Textiles: Another domestic textile group engaged in the business of manufacturing yarn, Fabric, acrylic fibre, and garments, noticed a spike of 7.4 per cent to Rs 525.75. KPR Mill: A Coimbatore-based trader gained 2 per cent on shares at Rs 1,181.30. Welspun Living: An Indian textile manufacturing company headquartered in Mumbai, was up 2 per cent at Rs 145.65 on Tuesday following the US tariff announcements. Among the other textile counters, Alok Industries and Raymond also saw solid buying interest. What does Bangladesh's 35 per cent tariff mean for India? The steep tariff imposed on Bangladesh, though slightly lower than the 37 per cent proposed in April, still marks a sharp rise from the previous 10 per cent base rate and is set to take effect on August 1. The move is widely considered a positive trigger for Indian exporters, especially in the readymade garment (RMG) segment. In the US garment import market: Vietnam holds a 19 per cent share. Bangladesh has a 9 per cent share. India follows with 6 per cent This means, with Donald Trump's move, the US buyers are likely to diversify away from higher-cost countries, and Indian exporters could see an uptick in orders, helped by their cost-efficiency and production scale. Donald Trump's trade deal with India and other countries According to Zee Business, the tariff hike comes as a part of a broader trade realignment by former US President Donald Trump, who announced a spike in tariffs on 14 countries. While on the other hand, Bangladesh faces a 35 per cent spike in tariffs. Following: Laos- 40 per cent tariffs Myanmar- 40 per cent tariffs Thailand- 36 per cent tariffs Cambodia - 36 per cent tariffs Bangladesh - 35 per cent tariffs Serbia - 35 per cent tariffs Indonesia - 32 per cent tariffs South Africa- 30 per cent tariffs Bosnia and Herzegovina- 30 per cent tariffs Malaysia- 25 per cent tariffs Tunisia- 25 per cent tariffs Japan- 25 per cent tariffs South Korea- 25 per cent tariffs Kazakhstan- 25 per cent tariffs However, India was not mentioned in the list, but Donald Trump, in a post on Truth Social, said, 'We are close to making a deal with India... Some [countries] will maybe adjust a little bit depending on if they have a cause. We're not going to be unfair about it.' The statement sparked optimism that Indian textile exports will avoid fresh tariffs, further improving their relative advantage in the US market."
Business Upturn
7 days ago
- Business
- Business Upturn
Nahar Spinning Mills shares rise over 3% as US tariffs on Bangladesh boost Indian textile sentiment
By Aditya Bhagchandani Published on July 8, 2025, 10:16 IST Shares of Nahar Spinning Mills Ltd climbed by over 3% on Tuesday, July 8, trading at ₹286.50, up ₹8.60 from the previous close of ₹277.90, after the US administration announced a 35% tariff on imports from Bangladesh overnight. The stock touched an intraday high of ₹295, with a day range of ₹282.10–₹295.00, reflecting investor optimism that Indian textile exporters could benefit from the policy shift. The US move, though slightly lower than the 37% tariff proposed earlier, remains significantly above the baseline rate of 10%. The tariffs, scheduled to come into effect on August 1, leave room for negotiation in the interim. Other Indian textile stocks, including Vardhman Textiles, Gokaldas Exports, Siyaram Silk Mills, and KPR Mill, also rose between 2% and 7% in morning trade as markets reacted to the potential competitive advantage for Indian manufacturers in the US market. The development follows last week's US-Vietnam trade agreement, which imposed 20% tariffs on Vietnamese exports and even higher rates on transshipped goods, signaling a broader protectionist trend that could favor Indian textile companies. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Business Upturn
7 days ago
- Business
- Business Upturn
Vardhman Textiles shares jump nearly 7% as US slaps higher tariffs on Bangladesh exports
By Aditya Bhagchandani Published on July 8, 2025, 10:15 IST Shares of Vardhman Textiles Ltd surged by nearly 7% on Tuesday, July 8, reaching ₹532.85 in early trade, after the Donald Trump administration in the US announced a 35% tariff on imports from Bangladesh overnight. The stock gained ₹34.15 from its previous close of ₹498.70, supported by optimism that Indian textile exporters could gain from the policy change. The higher tariff on Bangladeshi goods, though marginally lower than the 37% proposed in April, is still much higher than the baseline 10% rate. The US also left the door open for negotiations before the new rates come into effect on August 1. Vardhman Textiles was not alone in its rally. Shares of Gokaldas Exports, KPR Mill, Arvind, Siyaram Silk Mills, and Nahar Spinning Mills also rose between 2% and 7% in early trade as investors bet on Indian firms benefiting from a shift in US orders. The move comes days after the US struck a trade deal with Vietnam, imposing 20% tariffs on Vietnamese exports and 40% on goods transshipped via Vietnam to evade duties. The tariff changes have boosted sentiment in India's textile sector, positioning domestic manufacturers to capture greater market share in the US. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
