Mumbai: Shares of textile exporters surged on Wednesday after Motilal Oswal Financial Services initiated coverage on some companies with 'buy' ratings, citing capacity expansion and policy support as the key growth drivers. The brokerage's price targets imply gains of 9% to 28% over Wednesday's closing prices.Gokaldas Exports gained 3.7%, Arvind advanced 6.3%, Pearl Global jumped 11.2%, Indo Count Industries surged 9.5%, and Welspun Living rose 5%.Agencies"Indian textile sector is entering a strong capex cycle with leading players announcing significant investments across garments, fabrics, technical textiles, and value-added categories to capture rising global sourcing opportunities," said Motilal Oswal in a client note. "Unlike earlier expansion phases focused on commoditised products, the current investment cycle is directed toward higher-margin segments such as garments, MMF, specialty fabrics and advanced textiles, along with automation, sustainability and premiumisation initiatives."