Ashish Kacholia Gets His First Pick from Textile Industry

On July 20th, in our post named-$650 billion opportunity by 2025 for Textile Industry: Pick the winners now- we have highlighted the hidden opportunities in Indian Textile Industry and hand picked 2 stocks for long term play. We recommended that a buy is advisable in Trident which was trading at Rs. 33 and KPR Mills which was trading at Rs. 667. Well, two stocks has already given 12.73% and 15.44% returns respectively due their excellent results.

Now coming to the story, our "Master Portfolio Member" Ashish Kacholia has been doing cherry picking in Textile Industry this week. BSE data shows that Ashish Kacholia bought Welspun Syntex in two chunks. On 30th July Ashish Kacholia bought his first chunk of 295850 stocks at Rs. 118 and on 31st July he again bagged another chunk of 615143 shares at Rs.124.32

Why Biggies Aiming High in Textile Industry?

Hope you have read of Dolly Khanna's entry in Nandan Denim and RSWM. Now the entry of Ashish Kacholia into this sector makes it to limelight. Below are few more reasons for you to get in.

1.'Make in India' campaign: A 'Make in India' campaign covering 25 sectors, including the textile and garment industry, has been unveiled by the Prime Minister in the presence of big names from the corporate world of India and abroad at a ceremony in New Delhi. 

The 'Make in India' scheme also puts in place the logistics and systems to address in a timely manner queries of potential investors. At Present, the Government of India allows 100% foreign direct investment (FDI) under the automatic route in the textile sector, subject to all applicable regulations and laws, which effectively backs the Make in India program for the textile and garment industry. 

Under the 'Make in India' initiative, investment opportunities for foreign companies and entrepreneurs are available across the entire value chain of synthetics, value-added and speciality fabrics, fabric processing set-ups for all kinds of natural and synthetic textiles, technical textiles, garments, and retail brands

2. Technology Upgradation Fund Scheme (TUFS): The Cabinet Committee on Economic Affairs late in August gave itsapproval for continuing the Technology Upgradation Fund Scheme (TUFS) during the 12th Plan period with a major focus on power looms in accordance with the Budget announcement for the financial year 2013-14. 

The total budget outlay for continuation of the scheme will be about Rs 11,900 crore, out of which Rs 2,400 crore have been allocated for the financial year 2013-14. The scheme is one of the flagship schemes of the Ministry of Textiles and has helped the industry to garner investments of Rs 2430 crore. 

The scheme is expected to generate 11.5 % annual growth in volume terms in cloth production and 15% in value exports by increasing domestic value addition and technological depth and by enhancing the global competitiveness of textile products to generate an additional employment to 15.81 million workers.

So what are you waiting for??

Check the latest Portfolio of Ashish Kacholio here

Update on 4th August 2014: 
July Ashish Kacholia bought his third chunk of Welspun Syntex on 3rd August. According to BSE data he bought 289007 shares of Welspun Syntex at a rate of Rs. 130.44