The GST Council which met today has unanimously decided to defer hike in GST on textiles from 5 percent to 12 percent. The matter will be discussed again in the next Council meet for future roadmap, most likely in Feb’22.

Following this deferment, textile stocks are up in the green. Arvind, Ginni Filaments, Super Spinning, Salona Cotspin, SPL Industries, GTN Textiles, Donear Industries, Digjam, Jet Knitwears, Bombay Dyeing, VIP clothing, SEL Manufacturing and Bhandari Hosiery ; all are up post this deferral.