India's textile stocks surge as Trump announces 35% tariff on Bangladesh

About this update from Alok Industries Limited

** Shares of India's textile companies rise as much as 11% after U.S. announces 35% tariffs on Bangladesh, while President Donald Trump hints at deal with India** Alok Industries NSE:ALOKINDS surges 11%, while KPR Mill NSE:KPRMILL and Vardhman Textiles NSE:VTL add 5.2% and 6.8%, respectively** Gokaldas Exports NSE:GOKEX, Indo Count Industries NSE:ICIL and Trident NSE:TRIDENT rise around 7%, 6% and 5%, respectively** Bangladesh is one of the key exporters of ready-made garments to the U.S., and competes directly with Indian garment manufacturers** "If India manages to sign favourable deal with U.S., we might see lower tariffs on ready-made garment exports compared with other countries such as China, Vietnam and Bangladesh," says ICICI Securities** Adds that scenario for Indian textile manufacturers is positive as of now

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