Textile Stocks Soar as New Cotton Mission Announced

Stocks in the textile industry surged significantly following Finance Minister Nirmala Sitharaman's announcement of a five-year mission to promote cotton production and a national mission on high-yielding seeds.

Textile industry stocks saw a remarkable surge after Finance Minister Nirmala Sitharaman unveiled a five-year plan to boost cotton production.

The announcement led to Ambika Cotton Mills leaping by 9.95%, while Welspun Living and Arvind Ltd also experienced gains of 5.19% and 4.49% respectively. Alok Industries rallied 4.38%, Indo Count Industries rose 4.32%, and Vardhman Textiles increased by 3.72% on the BSE.

The minister's broader strategy includes a national mission on high-yielding seeds to support agricultural advancements.

(With inputs from agencies.)