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An additional Rs 1,000 crore subsidy under the Textile Upgradation Fund Scheme (TUFS) reportedly provided by the Finance Ministry will recharge the textile sector, marketmen feel.

The additional funds may be utilised to meet subsidy requirements.

Some sections also believe that TUFS may well be extended, albeit in a modified form, after March next. Among the possible modifications is a reduction in interest subsidy from 5 per cent at present. Companies such as Mahavir Spinning, Nahar Industrial Enterprises, Rajasthan Spinning and LMW will be on the market's radar, it is felt.

Nilanjan Dey

More Stories on : Stock Markets | Stocks | Textiles | Ear to the ground

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