Trump Tariff Impact: Pearl Global, Indo Count Industries, KPR Mill Decline As Textiles Under Pressure
Shares Of Gokaldas Exports, Pearl Global, Indo Count Industries, KPR Mill, and Welspun Living all declined following the major tariff scare
Indian textile and textile exporter shares came under pressure on Thursday as US President Donald Trump announced another 25% tariff on India, bringing the total tariff rate to 50%.
Shares Of Gokaldas Exports, Pearl Global, Indo Count Industries, KPR Mill, and Welspun Living all declined following the major tariff scare.
Gokaldas Exports declined 3.82% intraday to trade lower at Rs 685, while KPR Mill declined 6.14% at day's low to trade at Rs 975 apiece. Pearl Global too came under pressure to decline 4.65% to trade at Rs 1,271 apiece.
The stocks came under pressure as textiles, gems & jewellery are among the largest chunks of goods exported to US from India.
On Wednesday late evening the US imposed another 25% tariff on India largely in the form of penalty for its imports of Russian crude oil and other commodities from Russia.
This has brought India among the list of the countries that face the highest amount of tariffs globally from US. India has been hit with a cumulative 50% tariffs, while products from the country make up only 2.7% of US imports.
Taiwan and Vietnam, whose share in total US imports stand at 3.6% and 4.2% respectively, have been hit with 20% tariffs. Similarly, tariffs of 15% have been announced against Japan, South Korea and Ireland, whose share in total US imports stand at 4.5%, 4% and 3.2%, respectively.
The US has emerged as one of the largest exporting destinations for New Delhi in financial year 2024-25.
