Top 10 Textile Stocks in India To Buy In 2024
Top 10 Textile Stocks in India To Buy In 2024
In India alone, the textile industry generates over $400 billion in revenue and employs over 4.5 crore people. This makes it the country's 2nd largest employer by industry. The cumulative value of this sector is more than 50 billion dollars. Experts say that this is only the beginning and projection that by 2025 the textile industry is going to be worth 150 billion.
Over the years, other countries have also been increasing their demand for exports. Due to its low production costs, India is also attractive to many brands for manufacturing.
In the year 2018-19, the textile sector shares 2% to the Indian economy. Additionally, the industry contributed 12% to export earnings and 5% to textiles and apparel global trade during the same period.
One of the most popular options among people is to invest in textile stocks in India. This is because, in the long run, textile stocks provide substantial ROI or return on investment. Hence many people prefer to invest here.
Before investing in any stock every investor must know the Dos And Don'ts Of Investing. These do’s and don’ts are going to be very useful in your investing journey.
Top 10 textile stocks in India in 2023
An Overview of Leading textile industry shares listed in the Indian stock market. These textile Stocks are good stocks for long term investment. you should know the Important Ratios You Must Know Before Investing. The following factors are what make the best Textile Stocks.
1). Trident ltd
Trident one of the best textile stocks under 100 Rs. Founded in the year 1990 the firm has gained a substantial base of reputation because of the quality it offers. It is interestingly the 3rd largest manufacturer of yarns in India. From yarn to sheeting to power generation, the company has a long list of plans for the future. Therefore, it has an intriguing prospect to reckon with. Collectively it is worth ₹17,697 cr. Moreover, we find that its profits in 2022 have reached over ₹834 cr. Thus you can gain from this stock a lot.
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2). Arvind Ltd
Arvind Ltd is one of the top textile companies in India. From cotton shirts to denim and bottom-weight fabrics to much more, Arvind is one of the most recognized brands in India. It has a loyal customer base because it attracts both premium as well as mass customers. The net worth of the company is currently around 3296 cr. It has shown 58 percent growth last year. We can see that it will witness huge growth in the long run.
Arvind Ltd is one of the highest dividend paying stocks among all the textile stocks and you can generate a passive source of income from dividends.
3). Vardhman Textiles Ltd
This firm is mainly known for producing brilliant fabric. It is worth ₹9,968 cr and thus this is a significant amount to reckon with. Even though we find in this case that it has increased by a huge margin of 89.27% over the past three years, its stock price has comparatively decreased by 7.88% in the past year. Therefore, this means that in terms of potential, this firm is a gold mine. The growth rate is enough to make you a fortune here.
4). Raymond Ltd
Raymond is a historic company in India having strong roots. In terms of stock price, we see that there is about 142% growth in the past twelve months. That isn’t all as we find that the stock price is still growing. So if you want to connect yourself to a firm with a history then the time is right for you to invest here. You will surely go on to get great returns. It is hence one of the best among textile sector stocks.
5). Garware Technical Fibres Ltd
The USP of this firm is to make specialized ropes and twines. All of these are made out of synthetic materials. It is worth 7236 crores currently. We also find that its profits have steadily increased over the past five years which means a good potential for growth. They have been estimated to reach 165 crores in 2022. The stock price has increased by 32% since March 2022.
6). KPR mill ltd
This is one of the best vertically integrated textile sector firms out there. It has a wide range of interests from garments to fabrics. The total revenue of the firm is 4739 cr in 2022 which is a huge figure to reckon with. It is supposed to witness about 27 percent growth and hence you can gain from it a lot.
7). Swan Energy Ltd
A range of cotton, as well as polyester products, are made by this firm. In this case, we find that the textile stock’s price has seen a 61.08% increase which is considerable. It is more than 5000 crores of worth currently but is making losses for the last 4 years.
8). Welspun India Ltd
Among home furnishings, this is the best brand out there in the nation. The total worth of the company is 9881 cr which is a considerable sum considering the Indian market. The share price has moved up to 36 percent.
9). Siyaram Silk Mills Ltd
The organization is basically known for producing yarns, textures, articles of clothing, and much more. Over the years it has gained a tremendous reputation and is hence worth ₹2081 cr and has seen a humongous profit of ₹216 cr in the past year. However, the share price has decreased by about 12.71 percent. This has been observed over the past year.
10). Jindal Worldwide Ltd
Currently, the firm is worth ₹5284 cr. The profit made last year was about 109 cr. Among textile industry shares this is one of the best. Close to 90 percent increase has been observed in the share price and hence you should consider this.
Investing in the share market of textile stocks is thus a brilliant idea. We presented to you the ten most fascinating options to consider currently.
Ques 1. List of penny stocks in India?
Ans. Here is the list of penny stocks in India are:
Ques 2. Who is the largest manufacturer of textile stocks in India?
Ans. In India, there are a number of textile manufacturers. However, the largest and best is Trident Limited.
Ques 3. Why Invest in Textile Stocks?
Ans Here are the 10 reasons why you should invest in textile stocks are:
- Large Quantities of Raw Materials: India is the largest producer of cotton, jute, and the second largest of Polyester Staple Fiber and polyester Filament Fiber.
- Competitive Cost of Manufacturing: India is one of the low-cost manufacturing destinations in terms of power cost, labor cost, lending rate & water cost.
- Availability of a Large Pool of Skilled & English Speaking Manpower.
- Large and Growing Domestic Market
- Government Support
- Presence of Large Integrated Players: like Reliance Industries, Birla Cellulose, Arvind, Vardhman Textiles, Trident Group etc
- Social, Political & Economic Stability
Ques 4. What is the future of textile stock in India?
Ans. As we discussed earlier India Textile industry is going to shine in the future, With the rise in demand for Indian textile products, India is projected to make around $190 billion market by 2025. It is good to have textile stock in your portfolio.
Ques 5. List of small cap textile stock in India?
Ans. Here is the list of small cap textile stock in India: