SVP Global Textiles Share Price Jump 9.89% as Government Clears ₹305 Crore Tex-RAMPS Innovation Scheme

Mumbai, November 28: SVP Global Textiles share price is witnessing heavy investor demand today, after the government cleared ₹305 crore Tex-RAMPS Innovation Scheme. As of 12:25 PM, SVP Global Textiles shares were up by 9.89%, or 0.62 points and were trading at ₹6.89. Until now, the shares have traded within a range of ₹6.89 and ₹6.50. The traded volume for the SVP Global Textiles stock stood at 11.82 lakh shares, with the company’s market cap at ₹79 crore. The shares have their 52-week high at ₹7.41 and their 52-week low at ₹2.37.

SVP Global Textiles Limited (NSE: SVPGLOB, BSE: 505590) is an integrated Textile manufacturer based in India. The company operates within the compact cotton yarn segment, focusing on high-quality yarn production for the domestic and international markets. The company was established in 1898 and is headquartered in Mumbai, Maharashtra.

Shares Rise After Government Clears ₹305 Crore Tex-RAMPS Innovation Scheme

The rise in the share price comes after the company announced that the Indian government has provided its approval for ₹305 crore Tex-RAMPS scheme. The scheme is aimed at increasing the research and innovation capabilities across India’s textile sector.

The Textiles Focused Research, Assessment, Monitoring, Planning and Start-up (Tex-RAMPS) scheme is a six-year programme. It is scheduled to run from FY2025-26 to FY2030-31. The scheme is entirely funded by the Ministry of Textiles. Textiles Minister Giriraj Singh said: “The effort is designed to bring research, data and innovation to the forefront, positioning India as a global leader in next-generation textiles”.

Investor Takeaway for SVP Global Textiles

The approval given to the ₹305 crore Tex-RAMPS Innovation Scheme by the Indian government is a welcome sign for the company as the scheme will allow it to gain long-term opportunities in the textile sector. The company can use the resources allocated within the scheme to increase its market presence. It can also lead to a better revenue for the company. The announcement has been taken positively by investors, leading to a significant share price rise.

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