Shares of Gokaldas Exports Ltd soared 10.78% to Rs 881.85 in Wednesday’s session following reports that India and the United States are nearing a trade agreement that could substantially lower tariffs on Indian exports. The stock gained Rs 85.80 from its previous close of Rs 796.05, reaching an intraday high of Rs 898.95, with a market capitalization of Rs 65,600 crore on the NSE.
According to a report by Mint, the US may reduce tariffs on Indian imports from 50% to around 15–16% as part of the trade negotiations, a development expected to benefit India’s textile and apparel exporters, including Gokaldas Exports. The tariff relief reportedly comes after India agreed to reduce its reliance on Russian oil, a key sticking point in bilateral discussions.
The talks also involve India easing restrictions on US agricultural imports, including non-genetically modified corn and soymeal, to support domestic industries such as poultry feed, dairy, and ethanol. However, clarity is still awaited on tariff concessions for dairy products — a key demand from the US side.
The expected easing of trade tensions has lifted market sentiment across export-oriented sectors, with Gokaldas Exports among the key beneficiaries due to its strong presence in the US apparel supply chain.
As of 9:18 AM (IST), the stock traded between Rs 870 and Rs 898.95, outperforming broader indices and reflecting renewed optimism over potential trade normalization between the two economies.
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