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

About this update from Vardhman Textiles Limited

** Indian textile stocks down between 3% to 7% ** Gokaldas Exports NSE:GOKEX leads pack with 7% decline, Welspun Living NSE:WELSPUNLIV drops ~5% ** Vardhman Textiles NSE:VTL and Indo Count Industries NSE:ICIL lose 3.2% and 3.8% respectively** KPR Mill NSE:KPRMILL and Trident NSE:TRIDENT 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 NSE:NIFTY, BSE:SENSEX down 0.7% ** 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

View stock analysis, news, and events for Vardhman Textiles Limited