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Nuvama Institutional Equities has initiated coverage on three key Indian textile players, KPR Mill, Indo Count Industries, and Sanathan Textiles, citing the ongoing shift in global sourcing away from China. The brokerage has assigned ‘Buy’ ratings to all three stocks, with upside potential of up to 35%.

According to Nuvama’s thematic report titled ‘Textiles – The Loom Turns Toward India’, the brokerage highlighted that the global textile market, which is currently valued at around $1.6 trillion, is witnessing its largest sourcing shift in two decades. With China’s share of US apparel imports having nearly halved over the past decade, alternative manufacturing hubs like India, Vietnam, and Bangladesh are competing for the surrendered market share.

Nuvama has issued ‘Buy’ calls on shares of KPR Mill, Indo Count Industries, and Sanathan Textiles, backing their aggressive capacity expansion plans and integrated business models:

Nuvama on KPR Mill share price

As India’s largest listed garment manufacturer with an annual capacity of 204 million pieces, KPR Mill is fully integrated from cotton yarn to garmenting. Nuvama views it as a direct play on global garmenting tailwinds, having consistently maintained 88–98% utilisation levels through its expansion phases.

It has fixed a target price of Rs 1,276 apiece for the stock, implying an upside potential of 21.5% over the stock’s previous closing price.
Nuvama on Indo Count Industries share price
As the world’s largest bed-linen manufacturer by capacity, Indo Count is pivoting from commodity bed linen toward high-margin, value-added segments such as branded and utility bedding, bolstered by its US manufacturing footprint.

Nuvama has a target price of Rs 541 per share, implying nearly 35% upside from the stock’s previous closing price.

Nuvama on Sanathan Textiles share price

A value-added polyester yarn maker, Sanathan provides a pure-play expression of the global shift toward Man-Made Fibre (MMF). Backed by Quality Control Orders (QCO) and anti-dumping duties on Chinese imports, Nuvama projects the company’s volume to compound at 23%.

The brokerage has a target price of Rs 585 per share, implying more than 23% upside from the stock’s previous closing price.

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What lies ahead?

Nuvama highlights that the structural opportunity for Indian textile exporters is driven by supply-side realignment rather than rapid demand acceleration, as global trade remains broadly flat.

Key tailwinds supporting Indian exporters include tariff parity and FTA access, inventory normalisation and government policy alignment.

Nuvama, in its report, added that while yarn spinning is capital-intensive and subject to raw material cycles, garment manufacturing and specialised textiles have better asset turnover and higher Return on Capital Employed (ROCE). With trade access, policy incentives, and global buyer behaviour aligning simultaneously for the first time since 2005, Indian textile majors are well-positioned for sustained multi-year growth.

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(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

The company reported higher-than-expected revenue on Thursday from Amazon Web Services. It also said higher memory-chip prices would mean splashing more on data centers. But investors seemed to cheer the prospect of spending with the aim of selling more computing power to customers such as OpenAI and Anthropic.

Victoria – the BBC has agreed to not include her surname – 33, said her five-year-old daughter had “shot up” in size and needed more clothes for the new term.

“She’s five but she’s in six and seven-to-eight stuff so we need summer dresses,” she said.

Victoria described herself as “quite savvy” and said attending free events in the city helped keep costs down during the school holidays.

“I’d probably be more stressed if these things weren’t here though,” she said.

Everything in the pop-up is free — and organisers say it is helping to reduce waste.

“Supermarkets and shops are selling too much and there’s much more that can be shared,” said Cristina Fernandez-Hierro from Peterborough City Council.

She said the event made people feel empowered.

“They are not just ‘having charity’ they are actually making a difference,” she said.

“Every time you reuse an item of clothing you are actually helping the environment.”

Space stocks could offer significant long-term growth opportunities as the industry expands beyond rocket launches into satellites, orbital broadband, communications, defence applications and other space-enabled services, although high valuations and extreme volatility could make the investment journey uneven, according to a research report by Goldman Sachs.

The research report noted that opportunities may increasingly emerge from the broader space ecosystem and its supply chain, rather than only from companies directly involved in launching rockets. Semiconductor, electronics, software, advanced materials, manufacturing and communications infrastructure companies could benefit as the commercialisation of space accelerates.

Goldman Sachs said its custom basket of US space and satellite stocks had gained around 13 per cent in 2026 through July 14, outperforming the 9.8 per cent rise in the S&P 500 over the same period. The basket has risen more than 360 per cent over the past two years, although its rally has cooled from its late-May peak.

The report noted that the space theme has evolved significantly, with investors increasingly focusing on rocket launches, satellites, global communications and potential future markets enabled by space technologies. Some companies in the basket are also seeing rising sales linked to US government defence contracts, particularly in satellite imagery and connectivity.

A key factor supporting the sector’s outlook is the improving economics of space activity. Goldman Sachs said the cost of rocket launches and satellites has declined, while opportunities in global communications services are developing. Some companies in the space and satellite basket could become profitable as early as next year, according to analyst Louis Miller.

The report also highlighted growing investor interest in orbital broadband services, including companies such as SpaceX’s Starlink. Potential future applications such as orbiting data centres are also attracting attention, although these remain longer-term opportunities.
Goldman Sachs said demand for space-related investments is coming from retail, private wealth and institutional investors, with many seeking differentiated secular growth themes rather than traditional sector allocations.

However, the sector remains highly volatile. The Goldman Sachs space basket is roughly twice as volatile as a comparable AI basket and about five times as volatile as the S&P 500. The report cautioned that investor enthusiasm could periodically run ahead of fundamentals even if the sector’s long-term structural direction remains positive.

The latest Market Talks covering the Auto and Transport sector. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.

0921 ET — Magna International is improving its margins even while the world produces fewer vehicles. TD Cowen’s Brian Morrison says in a report 2Q results “reinforce Magna’s margin improvement story with adjusted EBIT margin expanding y/y to 6.2% despite lower y/y global light vehicle production.” At the same time, sales increased 3% to $10.98 billion, on “anticipated benefit of FX y/y and new program launches, partially offset by lower global production y/y.” This bodes well for the company. Morrison says that along with strong free cash flow, he sees upside potential to consensus and the applied multiple.” (adriano.marchese@wsj.com)

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