US Tariff Hits India: Textile, Pharma, Auto Stocks Slide

Among textile-related stocks, Pearl Global Industries tumbled 7.32 per cent, Gokaldas Exports dropped 4.37 per cent, Arvind Ltd fell by 4.33 per cent

- AGENCIES

Textile, pharma, auto and IT stocks ended lower on Thursday after US President Donald Trump announced the imposition of a 25 per cent tariff on all goods coming from India starting August 1, plus an unspecified penalty for buying Russian crude oil and military equipment.

Among textile-related stocks, Pearl Global Industries tumbled 7.32 per cent, Gokaldas Exports dropped 4.37 per cent, Arvind Ltd fell by 4.33 per cent, Vardhman Textiles declined 4.23 per cent, Welspun Living fell by 3.92 per cent, KPR Mill skidded 3.12 per cent and Alok Industries dipped 2.51 per cent on the BSE.

From pharma stocks, Jubilant Pharmova dropped 3.65 per cent, Ipca Lab slipped 3.14 per cent, Lupin (2.98 per cent), Sun Pharma (1.69 per cent), Dr Reddy's Lab (1.61 per cent), RPG Life Sciences (0.83 per cent) and Cipla (0.58 per cent).

Shares of Force Motors, Bajaj Auto, Ashok Leyland, Tata Motors and Mahindra & Mahindra also ended lower.

The BSE auto index dipped 0.35 per cent to 52,901.32.