Prefer Arvind among textile stocks; see improvement revenue growth, margins: Girish Pai

In a chat with ET Now, Girish Pai, HoR, Nirmal Bang Institutional Equities, shares his view on textile stocks.

ET Now: Exporters such as Kitex, Welspun India and CCL Products came out with their quarterly numbers on Monday. These are all are classic midcap themes, which have done extremely well the last 12-odd months. I do not know whether you have coverage, but do you like the textile space specifically Welspun and Kitex, which are trading at new highs? The stock price movements are getting backed with numbers almost every single quarter. Do you like these themes?

Girish Pai: We do not have coverage on the two stocks you mentioned. But, we have coverage on Arvind Mills (renamed to Arvind).

ET Now: Do you like that?

Girish Pai: Yes we like that. It is more of brand and retail play with the fact that more brands coming in and the fact that these brands are going to improve their margins and growth going forward.

They are going to form a larger part of the revenues of the company going forward. We think that that is going to create a lot of value for shareholders. So we like Arvind Mills at this point in time.