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Cotton stocks extended gains on Tuesday, July 16, after domestic rating agency ICRA lifted the FY25 growth forecast for the Indian cotton spinning industry. ICRA expects the domestic cotton spinning industry to recover in fiscal 2024-25 (FY25), growing by 6-8 per cent over volume growth and mild realisation gains.
Leading cotton stocks listed on D-Street extended gains after the robust FY25 growth outlook. Welspun Living gained around three per cent to hit an intra day high of ₹175.15, while shares of Nitin Spinners were locked in nine per cent upper circuit to hit a fresh lifetime high of ₹417.60 apiece on the BSE.
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