Indian textile stocks drop as Trump's 25% tariff threat dents 'safe haven' image

KPR Mill

31/07/2025 05:34

** Indian textile stocks down between 3% to 7%

** Gokaldas Exports GOKL.NS leads pack with 7% decline, Welspun Living WLSP.NS drops ~5%

** Vardhman Textiles VART.NS and Indo Count Industries ICNT.NS lose 3.2% and 3.8% respectively

** KPR Mill KPRM.NS and Trident TRIE.NS shed 2.5% each

** Drop after U.S. President Donald Trump slapped 25% tariffs on Indian products, along with undisclosed penalty for New Delhi's trade with Moscow

** Broader markets .NSEI, .BSESN down 0.7% .BO

** WLSP, GOKL, ICNT, TRIE derive 40%-70% of their revenues from the U.S. - brokerage Jefferies

** Trump tariffs a "hit to the safe haven perception" of India vs other peer countries - CLSA

** Apparels, having high existing tariffs, still have more to lose - Bernstein

 (Reporting by Hritam Mukherjee in Bengaluru)

 ((Hritam.Mukherjee@thomsonreuters.com;))