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Viscose staple yarn industry revenue to grow by 10-12% to $2.5 billion this fiscal: CrisilThe Indian viscose staple yarn (VSY) industry will see a 10-12 per cent growth in revenue this fiscal, continuing the strong demand seen in the previous financial year, CRISIL Ratings said on Tuesday.The report highlights that the revenue of the Indian viscose staple yarn (VSY) industry is expected to touch an all-time high of over US$ 2.5 billion.According to the report, even as yarn prices decline, though at a lower rate than raw material prices, overall profitability is likely to improve by 200-300 basis points (bps).   "The strong balance sheet and improved cash flows will support the credit risk profile of manufacturers, despite substantial debt-funded capital expenditure (capex)," it added.VSY is an attractive alternative to cotton yarn because of its lower prices and comparable characteristics. It registered a compound annual growth rate of 13 per cent in the last three financial years, which is higher than 5 per cent for cotton yarn.Himank Sharma, director, Crisil Ratings Ltd., said, “Viscose spinnerets volumes are expected to grow by 15 per cent this fiscal, supported by sustained domestic demand and revival in export demand during the second half. Overall, segmental growth will be in the low double digits.With improvement in revenue of VSY manufacturers and spread between VSY and VSF widening to Rs 55-58 per kg, operating margin is likely to improve to 11-12 per cent. Higher viscose yarn imports from China and weak global demand impacted spreads in the last fiscal, reducing margins by 800-900 bps.Jayashree Nandakumar, Director, CRISIL Ratings Ltd., pointed out that the capital-intensive nature of the VSY segment has resulted in regular loan repayments by players for capacity expansion."However, the strong balance sheet has ensured that the credit risk profile of the players remains comfortable despite continued capital expenditure," he added.

Tamil Nadu: "Cotton auction in coastal delta districts: 62,000 tonnes fetches big deal at Rs 39.81 crore"Mayiladuthurai: Over 62,000 metric tonnes of cotton has been auctioned at Mayiladuthurai and Nagapattinam for Rs 39.81 crore during the months of June and July, officials of the Agriculture Market Committee said, higher than the quantity auctioned for the same period last year. is more than double. Cotton is auctioned every week at four regulated markets at Mayiladuthurai (Sembanarcoil, Sirkazhi, Mayiladuthurai and Kuthlam) and Nagapattinam (Thirumarugal).A total of 1,581 tonnes were auctioned in the Thirumarugal market and over 61,000 tonnes were auctioned in the four regulated markets of Mayiladuthurai. "The auction volume has doubled from last year, and we expect more volume to be auctioned due to surplus in supply. However, the demand was low," said an official of the Agriculture Market Committee. The average auction price has also decreased from last year. Last year, the price of cotton has increased from around Rs 90 per kg to Rs 65 per kg. The area under cotton cultivation in Mayiladuthurai increased from 5,200 hectares to 7,200 hectares over the previous year due to increase in supply and decrease in demand. Farmers are demanding to buy cotton from the Cotton Corporation of India (CCI) instead of relying on hidden auctions.According to officials, however, the CCI has not agreed to the purchase at Mayiladuthurai. Guru Gopiganesan, farmer-representative of the Kaviri Delta Pasanathar Munnetra Sangam, said, “We are hopeful that the Union Bank will increase the MSP of cotton in view of the losses due to lack of demand. We request the state government to bring cotton under the Kuruvai Comprehensive Scheme. request." Completely." The official said, "The auction prices are still Rs 4 above the minimum support price. Farmers may not get the same price through CCI procurement due to their strict requirements."

Pakistan: "no change in spot rates amid upbeat activity"LAHORE: The Karachi Cotton Association (KCA) on Wednesday kept the cotton spot rate unchanged at Rs 17,935 per quintal amid satisfactory volumes and steady business.However, polyester fiber prices have increased by Rs 5 per kg, taking it to Rs 355 per kg from the earlier Rs 350 per kg.Commenting on the market movement, cotton analyst Naseem Usman said cotton picking and ginning is still not back on track following recent rains in both Sindh and Punjab. The impact of the rains could be seen on the quality of the cotton, with the RD being on the decline with the higher quantity of garbage, so buyers were generally on the edge. They have to wait at least a week for fresh harvests to get quality, provided there are no further rains.He further said that due to rains in the entire cotton area, the quality of 'footi' was not proper, while fresh harvesting was also delayed due to this rain.While a mix was also observed and cotton was traded in the range of Rs.16,800 per head to Rs.17,500 per head in lower Sindh.Naseem Usman said Sindh cotton was traded at Rs 17,500 to Rs 17,800 per head, while footy was traded at Rs 6,700 to Rs 7,400 per head. Cotton was seen trading in the range of Rs 18,100 to Rs 18,400 per head and cotton in the range of Rs 7,000 to Rs 8,500 per head in Punjab. While cotton from Balochistan was traded from Rs.17,600 to Rs.17,800 per head and cotton from Rs.7,000 to Rs.8,000 per head today.According to KCA's daily market report, Shahdadpur 1600 bales traded at Rs 17,800 per head, Bukhari 400 bales at Rs 17,700 per head, Sanghar 1400 bales at Rs 17,400 to Rs 17,700 per head, Mehrabpur 200 bales traded. And 3200 bales of Rando Adam at Rs.17,800 per head and 600 bales of Mirpur Khas at Rs.17650 to Rs.17700 per head.Similarly, 200 bales of Shah Pur Chakkar at Rs 17,700 per head, 400 bales of Toba Tek Singh at Rs 18, 100 per head, 200 bales of Mongi Bangla at Rs 18,200 per head, 1400 bales of Burewala at Rs 18,000 to 18,000 per head Business done. Rs 18,200 per head, 200 bales of Hasalpur at Rs 18,100 per head and 200 bales of Fakir Wali at Rs 18,200 per head.

Rupee falls again against dollar, opens 12 paise weakerThe rupee opened weak against the dollar today. Today, the rupee opened at a level of Rs 82.70 against the dollar with a weakness of 12 paise. On the other hand, on Wednesday, the rupee closed at a level of Rs 82.58 against the dollar with a weakness of 33 paise.Today the stock market opened with a decline.Today the stock market opened with a decline. Today, the BSE Sensex opened at a level of 65511.95 points with a fall of 270.83 points. On the other hand, the Nifty of NSE opened at a level of 19444.10 points with a fall of 82.40 points.

Rupee weakens by 32 paise against dollarThis evening, the rupee closed at a level of 82.58 against the dollar with a weakness of 32 paise.Sensex dropped 676 pointsToday the stock market closed with a fallToday, where the Sensex closed at a level of 65782.78 points with a fall of 676.53 points.On the other hand, Nifty closed at 19526.50 points with a fall of 207 points.

Cotton prices put ginners, spinning mills in trouble.The volatility in cotton prices is affecting Gujarat's thriving cotton spinning industry. With Indian cotton yarn prices higher than global levels for most of the season, many ginning and spinning units are facing losses for the second year in a row.It is believed that the new crop is expected to arrive in northern states in August, which will not increase the prices further. According to sources, many spinning mills with poor financial performance are looking at a change in partnership.More than 50% spinning mills in South India have stopped production due to lack of demand and realization and the demand for yarn also remains low.Gujarat has about 120 spinning mills mainly located in Saurashtra with a total installed capacity of more than 45 lakh spindles. Jayesh Patel, vice-president of Spinners Association Gujarat (SAG), said, “Last season was very tough for the spinning sector and this season has been tough too. Indian cotton prices remained higher than international prices for most part of the year and, therefore, spinning mills were not competitive in the international market for the supply of yarn. Domestic demand also remained weak and the spinning sector posted losses for the second consecutive year. We believe arrival of new crop will start in northern states in August and will ensure that there is no sharp rise in cotton prices.Ginners have also suffered losses due to fluctuating prices. Apoorva Shah, secretary, Gujarat Chamber of Commerce and Industry (GCCI), said, “Cotton prices had risen at the start of the season last year and then declined. Jining units had bought at a higher price. At present, the price is around Rs 58,000 per candy (356 kg) against the average procurement price of Rs 63,000.Sources further said that many spinning and ginning units, unable to make profits, are looking at a change in partnership. “Some ginning and spinning mills are up for sale but high uncertainty means they have not been able to close deals. Hence, the partners are selling their stake in the units,” said a SAG member.

Pakistan: The local cotton market remained stable on Tuesday with low trading volumes.LAHORE: Cotton analyst Naseem Usman said cotton market is generally calm amid low arrival of footy after recent rains. The buyer remains conscious of the heavy moisture in the cotton and remains on the sidelines waiting for the quality to improve. The issue of large number of pending deliveries is a matter of concern for the buyer and the seller.He also told that the rate of new cotton crop in Sindh is between Rs 17,500 to Rs 17,900 per head. The rate of footi in Sindh is between Rs 6,500 to Rs 7,300 per 40 kg. The rate of cotton in Punjab is between Rs 18,100 to Rs 18,300 per head and the rate of foot is between Rs 7,000 to Rs 8,500 per 40 kg. Cotton rates in Balochistan range from Rs 17,800 to Rs 17,900 per head, while footy rates range from Rs 7,000 to Rs 7,500 per 40 kg.Around 1400 bales of Tando Adam were sold between Rs 17,400 to Rs 17,800 per head, 1200 bales of Shahdad Pur were sold between Rs 17,700 to Rs 17,800 per head, 1000 bales of Sanghar were sold between Rs 17,400 to Rs 17,800 per head . 200 bales of Maqsuda Rind, 200 bales of Badin, 400 bales of Khadro at Rs.17,800 per head, 400 bales of Daur, 400 bales of Kotri at Rs.17,700 per head, 400 bales of Khanewal at Rs.18,300 per head. Per head, 600 bales of Lodharan were sold at Rs.18,100 to Rs.18,300 per head, 200 bales of Haasil Pur at Rs.18,100 per head and 200 bales of Murid Wala at Rs.18,100 per head.The spot rate remained unchanged at Rs 17,935 per head. Polyester fiber was available at Rs 350 per kg.

Rupee rallied against dollar, opened 13 paise weakerThe rupee opened weak against the dollar today. Today, the rupee opened at a level of Rs 82.38 against the dollar with a weakness of 13 paise. On the other hand, on Tuesday, the rupee closed at a level of Rs 82.26 against the dollar with a weakness of 1 paise.Stock market boom, Sensex opened down 290 pointsToday the stock market opened with a decline. Today, the BSE Sensex opened at a level of 66169.23 points with a fall of 290.08 points. On the other hand, the Nifty of NSE opened at a level of 19642.30 points with a fall of 91.20 points.

Rupee weakens by 1 paise against dollarThis evening, the rupee closed at Rs 82.26 against the dollar with a weakness of 1 paise.Sensex fell 68 pointsToday the stock market closed with a fall.Today, where the Sensex closed at a level of 66459.31 points with a fall of 68.36 points.On the other hand, the Nifty closed at a level of 19733.50 points with a fall of 20.30 points.

Pakistan: Slow business activity due to rain in cotton fieldsLAHORE: The local cotton market remained stable on Monday with low trading volumes due to rains in the cotton belt of Sindh and Punjab.Cotton analyst Naseem Usman said that the rate of new cotton crop in Sindh is between Rs 17,500 to Rs 17,900 per head. The rate of footi in Sindh is between Rs 6,500 to Rs 7,800 per 40 kg. The rate of cotton in Punjab is between Rs 18,000 to Rs 18,200 per head and the rate of cotton is between Rs 7,000 to Rs 8,400 per 40 kg. Cotton rates in Balochistan range from Rs 17,600 to Rs 17,800 per head, while footy rates range from Rs 7,000 to Rs 8,400 per 40 kg.Badin 400 bales was sold at Rs.17,800 per head, Tando Adam 800 bales, Shahdadpur 600 bales, Ghupchani 200 bales at Rs.17,900 per head, Sanghar 800 bales at Rs.17,700 to Rs.17,900 per head. Maund, Maqsuda Rind in 200 bales was sold at Rs.17,800 per head and Dor in 400 bales at Rs.17,700 per head.The spot rate remained unchanged at Rs 17,935 per head. Polyester fiber was increased by Rs 5 per kg and was available at Rs 350 per kg.

Rupee rallied against dollar, opened weak by 7 paiseThe rupee opened weak against the dollar today. Today, the rupee opened at a level of Rs 82.32 against the dollar with a weakness of 7 paise. On the other hand, on Friday, the rupee closed at a level of Rs 82.25 against the dollar with a weakness of 32 paise.Today the Sensex opened with a gain of 73 points.Today the stock market opened with a boom. Today, the BSE Sensex opened at a level of 66600.63 points with a gain of about 72.96 points. On the other hand, NSE's Nifty opened at 19770.80 points with a gain of 17.00 points. A total of 2,166 companies opened for trading on BSE today.