The shares of shrimp and textile companies surged on November 11 amid rising hopes for India and the US reaching their much-awaited trade deal. This would likely result in a reduction in tariffs levied on Indian exports to the US, benefitting these export-oriented sectors significantly.
The shares of these export-focused companies had previously fallen sharply after the Trump administration raised tariffs on Indian imports to 50 percent, citing India’s ongoing purchases of Russian oil.
However, growing optimism about a potential India–US trade deal has lifted shrimp and textile stocks, which earn a large share of their revenue from the American market.
What did US President Donald Trump say?
“We are getting a fair deal, just a fair trade deal,” Trump told reporters in the Oval Office during the swearing-in of his envoy to India, Sergio Gor. “We are making a deal with India, a much different deal than we had in the past,” he added.
Trump reiterated his optimism that a deal was near, stating, “We are getting close.”
It stated that US President Donald Trump announced that the United States was nearing a trade agreement with India aimed at strengthening economic and security relations, increasing American energy exports, and encouraging investment in key US industries.
The List of stocks that have rallied due to this
Apex Frozen Foods Ltd
Apex Frozen Foods Ltd. is an Indian company that farms, processes, and exports frozen shrimp to markets like the USA, the EU, and China. The company focuses on an integrated model, handling everything from shrimp seed production in its hatcheries to processing and export, including value-added “ready-to-eat” products to food companies, retail chains, and restaurants and it also sells shrimp seeds to farmers.
With a market capitalization of 861.72 Crores on Tuesday, the shares of Apex Frozen Foods Ltd hit a 20 percent upper circuit, reaching a high of Rs. 291.50 compared to its previous close of Rs. 242.95.
Avanti Feeds Ltd
Avanti Feeds Ltd. is an integrated Indian seafood company founded in 1993, specializing in manufacturing shrimp feed and processing and exporting shrimp. The company operates across several segments, including a large shrimp feed business, a shrimp processing and export division. Avanti Feeds is headquartered in Hyderabad and holds a strong market position, with a global presence in various markets like Europe, Japan, and the US.
With a market capitalization of 9,988.17 Crores on Tuesday, the shares of Avanti Feeds Ltd jumped upto 6.5 percent, reaching a high of Rs. 740.70 compared to its previous close of Rs. 694.85.
Gokaldas Exports Ltd
Gokaldas Exports Ltd. is a leading Indian apparel manufacturer and exporter, established in 1979, that supplies garments to international fashion brands and retailers. The company is known for its large-scale production capabilities, emphasis on sustainability and ethical practices, and a significant female workforce. It operates manufacturing facilities across India, with an annual production capacity of millions of pieces.
With a market capitalization of 6,368.21 Crores on Tuesday, the shares of Gokaldas Exports Ltd jumped upto 7.1 percent, reaching a high of Rs. 893.80 compared to its previous close of Rs. 833.40.
Raymond Lifestyle Ltd
Raymond Lifestyle Ltd is a leading Indian fashion and retail company with a strong presence in textiles, apparel, and branded products. It is known for its textile manufacturing, particularly its worsted suiting fabrics, and its extensive retail network which includes exclusive stores and other formats. Raymond also owns popular brands such as Park Avenue, ColorPlus, and Parx, and has a growing presence in ethnic wear.
With a market capitalization of 6,834.11 Crores on Tuesday, the shares of Raymond Lifestyle Ltd jumped upto 1.85 percent, reaching a high of Rs. 1151.05 compared to its opening price of Rs. 1130.05.
Written by Sridhar J
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