Parmeshwari Silk Mills, Donear Industries and other textile stocks soar up to 20%: What's fuelling gains?
Anil Singhvi on textile stocks said that the industry should get the centre's backing in scaling new highs.
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02:40 PM IST
Textile stocks in Monday's trade rallied with some of the stocks from the pack making sizable gains of up to 20 per cent. Stocks like Parmeshwari Silk Mills, Donear Industries, Advance Lifestyles, Samtex Fashions stood out as the top perfomers on May 19, 2025.
What's fuelling gains in textile stocks on May 19, 2025?
As per reports India's ban on Bangladeshi imports via the land ports could result in an additional business of over Rs 1,000 crore for the domestic textile as per experts.
According to an ANI report, India has imposed fresh restrictions on imports from Bangladesh via land ports, affecting goods amounting to USD 770 million. This amounts to nearly 42 per cent of total bilateral imports, according to the Global Trade Research Initiative (GTRI).
The restriction in this regard came from the Union Ministry of Commerce and Industry on Saturday following directions from the Directorate General of Foreign Trade (DGFT).
The move will restrict the import of some of the Bangladeshi goods, including readymade garments etc. to specific sea ports or bans them completely from make an India entry via land routes.
So, as now Bangladeshi garments can only enter into via some of the seaports, it will drastically impact their export to India.
Textile stocks
As per the stock research platform - Finology- there are 218 stocks listed in the space, and of them Vardhman Textiles lead with a TTM profit of Rs 879 crore.
Anil Singhvi view on textile stocks
The expert held that the time has come that the centre supports Indian textile industry and also curbs competition from Bangladesh. The market guru deems the step as a right move in pushing the industry to new heights.
2 textile stocks to buy based on technicals
Kunal Kamble, Sr. Technical Research Analyst at Bonanza is bullish on Vardhman Textiles: The expert mentions that the stock has given a breakout from a Flag and Pole pattern, indicating a continuation of the ongoing uptrend. The stock is trading above its 21-day and 50-day EMAs, reinforcing the bullish stance. A noticeable increase in volume during the breakout suggests strong buying interest.
Momentum indicators further support the bullish outlook. The RSI is trading in the higher range, signaling continued upward momentum. The DI+ is positioned above the DI-, indicating bullish dominance, while the ADX trading above the DI- reflects strength in the ongoing trend.
As long as the stock sustains above the ₹499 level, it remains well positioned to move towards the ₹560–₹590 zone in the near term.
Trident is another stock pick by Kamble. He notes that the stock has given a breakout from a Cup and Handle pattern as well as a falling trendline, indicating growing buyer dominance. The price has managed to sustain above the 21-day and 50-day EMAs, highlighting a bullish undertone in the stock.
The RSI is trading in the higher zone, reflecting strong bullish momentum. Furthermore, the DI+ is trading above DI-, confirming the uptrend, while the ADX crossing above DI- signals strength in the ongoing move.
As long as the stock holds above ₹29.20, it has the potential to move upwards towards the ₹32–₹36 zone
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