By Dipti Sharma Dec 8, 2021 3:46:02 PM IST (Published)
Increased global awareness on health and hygiene and work from home trends owing to the growing worries about the new SARS-COV-2 variant Omicron are seen augmenting demand for home textile companies. Several analysts have identified Trident and Indo Count Industries as the best play on the textile sector at this juncture. Trident shares have zoomed near 690 percent in the past three years and Indo Count's stock jumped 345 percent during the same period. Technical analysts see further gains of about 20-35 percent in these stocks.
As worries over the spread of the new Covid-19 variant Omicron grow, increased global awareness on health and hygiene and work from home trends are seen augmenting demand for home textile companies. Several analysts have identified Trident and Indo Count Industries as the best play on the textile sector at this point.
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In the past year, shares of Trident soared over 400 percent while those of Indo Count gained close to 60 percent. The former zoomed near 690 percent in the past three years and the latter jumped 345 percent during the same period.
About Trident:
Ludhiana-based Trident is a vertically integrated textile (yarn, bath and bed linen) and Paper (wheat straw-based) manufacturer and is one of the largest players in the home textile space in India.
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