KITEX

** Shares of Kitex Garments KITE.NS rise 3.7% to 175.9 rupees; set to snap a four-day losing streak

** Garment maker's unit commences commercial production at its new manufacturing facility at Warangal, in Telangana state

** KITE trades below key 50-,100-,200- day moving avgs, signalling a bearish momentum

** Stock down 23.6% YTD

(Reporting by Aleef Jahan in Bengaluru)

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Adds pricing in the second paragraph, supplier countries in the fourth paragraph, trader comments from the 10th

By Rajendra Jadhav and Nikunj Ohri

MUMBAI/NEW DELHI, Aug 28 (Reuters) - India has extended an import duty exemption on cotton by three months, until the end of December, a government order showed on Thursday, as New Delhi seeks to support the local garment industry that has been hit by hefty U.S. tariffs.

The imports are likely to support global cotton prices CTc2, which erased losses and rose 0.2% after the order. However, they are likely to reduce demand for local cotton, pressuring domestic prices, market watchers said.

The world's second-biggest cotton producer had earlier announced an exemption on cotton imports from an 11% duty until September-end and has now extended that to December 31.

The cotton is likely to be sourced from Australia, Brazil, the United States and Africa, which have a surplus available for export, industry officials said.

U.S. President Donald Trump's doubling of tariffs on imports from India to as much as 50% on good such as garments and jewellery took effect on Wednesday.

The United States is India's largest market for garments and jewellery, worth nearly $22 billion in 2024. India has a 5.8% share in the U.S. garment market, behind China, Vietnam and Bangladesh.

The duty exemption until year-end will let Indian textile companies import cheaper cotton, easing pressure amid a slowdown in U.S. demand, Atul Ganatra, president of the Cotton Association of India, told Reuters.

"With the duty-free extension, imports could hit a record 4.2 million bales this year. Strong imports are likely to continue into the first quarter of next year as well," Ganatra said.

India's cotton marketing year runs from October to September.

The earlier import window, ending in September, was too narrow, said a New Delhi-based trader with a global trading house.

Textile mills could not import cotton during that period, as the voyage from exporting countries typically takes more than a month. However, they can now place orders for large quantities for the subsequent period, the trader said.

The landed cost of imported cotton is nearly 5% to 7% lower than that of local supplies, and the quality is also superior, said a Mumbai-based trader.

"Most of the imports will arrive around the December quarter, just when the local crop hits the market. This is likely to push local prices down," the trader said.

(1 Indian bale = 170 kg)

(Reporting by Nikunj Ohri and Rajendra Jadhav; Editing by Sudipto Ganguly and Christopher Cushing)

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** Indian textile stocks fall after U.S. confirms 25% additional tariff on Indian-origin goods starting Wednesday

** Indian exports will now face U.S. duties of up to 50% - among the highest imposed by Washington

** The new duties will apply to goods entering the U.S. for consumption or withdrawn from warehouse for consumption from 12:01 a.m. EDT on Wednesday or 9:31 p.m. IST

** Kitex Garments KITE.NS, Raymond Lifestyle RAYL.NS and Welspun Living WLSP.NS down 5%, 2.5% and 2%, respectively

** Vardhman Textiles VART.NS and Gokaldas Exports GOKL.NS fall about 1%

** Last week, India suspended an 11% import duty on cotton until September 30

** U.S. is the biggest market for India's garment exporters; tariffs are leading to order cancellations and making them uncompetitive against Bangladesh and Vietnam, which have U.S. duties of 20%

** YTD, RAYL down 45%, GOKL down 38%

(Reporting by Urvi Dugar)

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** Indian textile firms rise after country removes import duty on cotton from August 19 to September 30

** Vardhman Textiles VART.NS, among India's biggest yarn producers, up 8% to 442.2 rupees

** Kitex Garments KITE.NS, Welspun Living WLSP.NS and Raymond Lifestyle RAYL.NS up 5%, 4% and 3.4%, respectively

** Gokaldas Exports rises 2.4%

** India's garment industry is reeling from a steep 50% tariff on U.S. shipments, compared to a 20% rate for Bangladesh and Vietnam and 30% for China

** Industry groups have said exemptions on cotton imports, which were subject to an 11% duty, will make the sector more competitive

** Industry officials expect government to extend duty-free cotton imports beyond September

(Reporting by Ananta Agarwal in Bengaluru)

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** Shares of Kitex Garments KITE.NS fall 5% to 199.69 rupees

** Garments maker's Q1 consol profit fell 24% Y/Y to 207.6 mln rupees ($2.4 mln)

** Q1 consol revenue rose 3.3% Y/Y, while total expenses jumped 7.9% Y/Y

** Stock set to fall for ninth straight session

** KITE down ~10% YTD

($1 = 87.8450 Indian rupees)

(Reporting by Vijay Malkar)

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** Shares of India's textile makers rise after Britain and India sign major trade agreement

** India's trade ministry said 99% of Indian exports would benefit from zero duty under the deal, including textiles

** Textile makers Gokaldas Exports GOKL.NS, Arvind Ltd ARVN.NS, K.P.R. Mill KPRM.NS, and Kitex Garments KITE.NS were up 7.2%, 3.3%, 7.9%, and 5%, respectively

** "India has advantage of cheap labour cost and high cotton supply, which benefit the domestic textile producers in long run," ICICI Securities said

** Adds, cos with integrated business model and high standards of quality production like Gokaldas Exports, KPR Mills, SP Apparels, Indo Count ICNT.NS and Welspun Living WLSP.NS will benefit from the pact in medium to long run

** ICNT jumps 6.5% and WLSP gains 7.3%

** ICICI Securities also says lower tariffs on footwear products is positive for Indian footwear companies such as Bata India BATA.NS, Metro brands METB.NS, Relaxo footwear RLXO.NS to explore opportunities in the UK market

(Reporting by Vijay Malkar)

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** Shares of Kitex Garments KITE.NS rise to exchange-allowed maximum limit of 5% to 635.30 rupees

** Apparel manufacturer on Monday said it will consider proposal for issuing bonus shares at a board meeting on Nov. 22

** Share price above 50-day, 100-day and 200-day exponential moving averages since Aug. 6

** Stock up 182.1% YTD

(Reporting by Ashish Chandra in Bengaluru)

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** Shares of Kitex Garments KITE.NS jump an exchange-allowed maximum of 5% to 565.45 rupees

** Apparel manufacturer's Q2 consol net profit jumps nearly 5x, rev up about 50%

** Stock gains for a third straight session, rising 11.5% in this period

** KITE up 151% YTD

(Reporting by Nishit Navin in Benagluru)

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** Shares of Kitex Garments KITE.NS rise to exchange-allowed maximum of 5% at 516.15 rupees

** Knitted garments maker says on track to achieve record turnover of 10 billion rupees ($119.37 million) in FY 2024/25

** September marks KITE's second-busiest month since April 2022, with about 19 mln shares traded

** Stock up 118% YTD

($1 = 83.7740 Indian rupees)

(Reporting by Aleef Jahan in Bengaluru)

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** Shares of Kitex Garments KITE.NS rises 5% to 491.6 rupees

** Apparel maker said it has considered acquiring its unit Kitex Childrenswear

** Co did not provide further details on the potential deal

** Stock rose 118% YTD, its biggest yearly gain since listing in 2012

(Reporting by Yagnoseni Das in Bengaluru)

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Kitex Garments Ltd KITE.NS:

• KITEX GARMENTS - APPROVED FURTHER INVESTMENT IN KITEX APPAREL PARKS FOR UPTO 1.03 BILLION RUPEES

Source text for Eikon: ID:nNSE4QP8cf

Further company coverage: KITE.NS

** Shares of Kitex Garments KITE.NS up 4.4% to 223 rupees, highest since March 11

** Garment maker's consolidated net profit rose ~6x; rev up 77%

** About 600,000 shares traded, 4.4x its 30-day avg

** Stock down 1% YTD

(Reporting by Aleef Jahan in Bengaluru)

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May 20 (Reuters) - Kitex Garments Ltd KITE.NS:

• DIVIDEND OF 1.5 RUPEES PER SHARE

• MARCH-QUARTER CONSOL NET PROFIT 201.3 MILLION RUPEES VERSUS 33.6 MILLION RUPEES

• MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 1.73 BILLION RUPEES VERSUS 977.1 MILLION RUPEES

Further company coverage: KITE.NS

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Nov 6 (Reuters) - Kitex Garments Ltd KITE.NS:

• SEPT-QUARTER NET PROFIT 132.1 MILLION RUPEES VERSUS PROFIT 250.6 MILLION RUPEES

• SEPT-QUARTER REVENUE FROM OPERATIONS 1.34 BILLION RUPEES VERSUS 1.42 BILLION RUPEES

• FURTHER INVESTMENT IN KITEX APPAREL PARKS AT 258.5 MILLION RUPEES

Source text for Eikon: ID:nBSEbGzcjR

Further company coverage: KITE.NS

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May 30 (Reuters) - Kitex Garments Ltd KITE.NS:

• MARCH-QUARTER CONSOL NET PROFIT 33.6 MILLION RUPEES VERSUS 442 MILLION RUPEES

• MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 977.1 MILLION RUPEES VERSUS 2.54 BILLION RUPEES

• FINAL DIVIDEND 1.5 RUPEES PER SHARE

Source text for Eikon: [ID:]

Further company coverage: KITE.NS

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