Gokaldas exports, new hope for India-US trade deal, apex frozen by up to 14%
Textile stocks today: Export-focused shrimp feed and textile companies stocks surged in early trade following former U.S. President Donald Trump announced that the United States and India would resume trade talks aimed at resolving long-term tariff frictions.
Trump wrote in a post about the Truth Society:
“I am pleased to announce that India and the United States of America are continuing negotiations to resolve trade barriers between our two countries. I look forward to talking to my good friend, Prime Minister Narendra Modi in the coming weeks.”
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The announcement appears to raise investor sentiment towards export-oriented sectors, which were previously hit hard by raising tariffs. Earlier this year, the Trump administration raised import tariffs on certain Indian goods to 50% citing continued oil trade in New Delhi with Russia. The move has caused several stocks and textile fragments in shrimp feed to drop sharply.
Apart from momentum, the U.S. Supreme Court agreed to hear challenges regarding the legitimacy of Trump’s global tariff regime – a case that could have a wide range of impacts on Indian exporters if the court violates tariffs.
Textile Stocks Movement:
Apex frozen food soared nearly 14% to Rs 251
Avanti feed jumped over 9%
Coastal companies earn more than 5%
In the textile section:
Gokaldas exports climb nearly 7%
KPR Mill rose 3%
Welspun’s life soars 7%
Raymond lifestyle improves by nearly 2%
Arvind Ltd grows over 4%
