Bengaluru-Based Textile Stock Gokaldas Exports Rallies 45% in 48 Hours After US Tariff Cut

Shares of several textile companies rallied sharply, rising over 40% across the last two trading sessions, after the United States announced a steep cut in tariffs on Indian exports. The US reduced duties to 18% from 50%, a positive trigger for India-US trade relations and export-oriented sectors.

Among the top gainers in today's trading session was Gokaldas Exports, with the stock surging 17.52%. After hitting a 20% upper circuit at Rs. 694.05 on February 3, up from Rs. 578.40, the rally extended into February 4 on heavy volumes of 12.98 million shares, compared with an average daily volume of 0.67 million. The stock opened at Rs. 778.40 and traded in a range of Rs. 751 to Rs. 833, taking its two-day gain to over 40% from February 2 lows. The company's market capitalisation climbed to around Rs. 5,980 crore, with the stock trading at a P/E of 52.47 and EPS of Rs. 15.56.

At the time of writing the Gokaldas Exports Shares were trading at Rs.815.65 apiece on the NSE rising by 17.52% so far today.

Despite the sharp rally in textile stocks, broader markets remained range-bound by mid-day. The Sensex was flat near 83,677, while the Nifty traded marginally higher around 25,800, after both indices saw a strong rally in the previous session.

Textile stocks price Movement Today

The positive sentiment spilled across the textile space, with several stocks hitting 20% upper circuits. Welspun Living, KPR Mill, Trident, Indo Count Industries, Faze Three, SP Apparels, Pearl Global Industries & other textile stocks have gained between 15% and 20% today, while two-day gains range from 20% to as high as 44%, making textiles one of the top-performing sectors in the Indian stock market today.

About Gokaldas Exports Ltd

Gokaldas Exports Ltd is India's apparel manufacturer and exporter, founded post-1947 partition from a Sindh-based silk trading business and listed in 2005.​ The Bengaluru-headquartered firm specializes in design, development, manufacturing, and export of garments for global brands in the US, Europe, and 50+ countries, producing 90+ million pieces annually across 35+ units with 53,000+ employees