The players of Textile stock notified net loss of above ₹3000 crore on an average basis in the first quarter of the FY19. As per Economic Times, the net loss for the same quarter last year was ₹450 crore.
Investors lost 85% of investor’s wealth owing to depreciating Indian currency along with currencies of other apparel importing-nation
Although investors believe that the market is soon going to be conducive owing to increasing consumption expenditure and high export demand.
Many of the textile stocks including Bombay Dyeing & Manufacturing Company, Monte Carlo Fashions and Raymond, Arvind were trading low between 12-25%. Further, SRK Industries, JBF Industries, Blue Bends, Bombay Rayon, Provogue (India) lost upto 85% since 2018.