Textile companies disappointed by Budget allocation, slide

NEW DELHI: Textile companies did not seem pleased with FM Arun Jaitley's quantum of fund allocation to the textile sector as announced in the Union Budget speech 2018-19.

The finance minister announced that the government will allocate Rs 7,148 crore for the sector.

All the major textile companies were trading flat with a negative bias after the announcement. Kitex Garments was down 0.24 per cent at Rs 288 on the BSE while IndoCount Industries was trading at Rs 103.55, down 0.24 per cent. Arvind too lost.