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India-UK FTA to boost textile exporters; Arvind, KPR Mill, SP Apparels in focus: Elara Capital
Prerna Jhunjhunwala, Vice President Equity Research at Elara Capital, said the India-UK Free Trade Agreement removes a key disadvantage for Indian textile exporters by eliminating import tariffs. She expects companies with existing UK exposure, including SP Apparels, KPR Mill, Wellspun Living and Indo Count, to benefit. Elara Capital also sees Arvind Ltd as a top pick, citing growth opportunities in technical textiles and expanding garment exports.
Bharti Airtel swap deal a win for minority shareholders, Morgan Stanley says; stock gains
The telco has announced a share swap deal to acquire an additional 16.31% stake in Airtel Africa from promoter entity ICIL, consolidating its hold on the listed African subsidiary without spending a single rupee in cash.