India-US Trade Deal: These stocks ran up in anticipation of India-US trade deal, ran up by more than 9%

News Topical, Digital Desk : India-US Trade Deal: On Wednesday, after hopes of a trade deal between India and America were revived, there was a tremendous rise in the shares of textile companies.

Shares of Welspun Living are trading at ₹124.55, up more than 9% today. At the same time, shares of Gokaldas Exports saw a gain of more than 7% and shares of companies like Trident, Pearl Global, Vardhman Textiles also rose by 4% to 6%.

This rise in the stock market came at a time when US President Donald Trump wrote on Truth Social that trade talks are going on between India and America and he is excited to talk to Prime Minister Narendra Modi. Prime Minister Modi also responded on social media and called America a 'close and natural friend' and said that he himself is also hopeful about talks with President Trump. Why was the tariff imposed? Due to the displeasure over the purchase of Russian oil by the Trump administration, an additional tariff of 25% was imposed on Indian exports, which affected more than 66% of the exports of textile, seafood and gems-jewellery sector. This forced Indian companies to give discounts of 15% to 20% to American customers, which affected the earnings and employment of companies. Pearl Global has said that if these heavy taxes continue, exports worth about $6 billion may shift to other countries and millions of jobs may be at risk. In the last one month, all these stocks had registered a decline of 15% to 20%, but the hope of a trade deal has brought strength again. The current boom has given relief to the stock market and a new hope has arisen among investors that if India-US trade relations strengthen, then many other sectors including the textile sector will also get strengthened.

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