Indian cloth maker Pearl Global sinks 18% on US tariff exposure

Pearl Global Industries

04/04/2025 10:07

** Shares of Indian cloth manufacturer and exporter Pearl Global Industries PGIL.NS down 17.9% to 1,040 rupees, lowest since Nov. 19, 2024
** If losses hold, stock on track for its worst day since Oct. 2008
** India was hit with a 26% retaliatory levy by U.S. President Donald Trump, while China has 34% and Vietnam hit with 46% and Bangladesh 37%
** PGIL's business segments include Bangladesh, Hong Kong, India, Vietnam, among others
** Co has 45-50% of exports to the U.S., MD Pallab Banerjee tells CNBC-TV18
** Co's Vietnam facility most exposed after Trump tariffs, Banerjee tells CNBC-TV18
** About 713,000 shares change hands, see the most active session since July 2024
** PGIL trims YTD gains, down 14% so far this year

(Reporting by Sethuraman NR in Bengaluru
)

((Sethuraman.NR@thomsonreuters.com; (+91 9945291420); Reuters Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net ))