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Following the announcement of the interim trade deal between India and the US, the Indian stock market is expected to see action across several sectors.
Many market experts say the deal could prove to be a game-changer. There are several listed companies that derive over 50 per cent of their revenues from the US. Shares of pharmaceutical companies, in particular, could be significantly impacted, as more than half of their revenues come from the US. As a result, investor focus will be on pharma stocks such as Aurobindo Pharma, Zydus, Dr Reddy’s, Mankind and Biocon on Monday. Here’s a look at which stocks could see action following the India-US trade deal.
NATCO pharma
NATCO Pharma’s revenue from the US in FY2025 (ended March 31, 2025) stood at approximately Rs 3,149 crore ($374 million), accounting for 65.8 per cent of the company’s total consolidated revenue of Rs 4,784 crore.Gland Pharma
In FY2025, revenue from the US accounted for about 53-55 per cent of the company’s total income, driven by a broad portfolio of ANDAs. The US business has recovered and continues to be its largest market.LT Foods
LT Foods projects strong growth in its North America operations in FY2026. The US market contributes 46 per cent of the company’s revenue. Its Royal brand remains the No. 1 basmati rice brand in the US, accounting for over 60 per cent of basmati rice imports by the end of 2025. The US had imposed a 50 per cent import tariff, equivalent to about 25 per cent of sales value, which the company passed on to consumers.Biocon
The US contributes 46 per cent of Biocon’s revenue and remains its largest market, driven by Biocon Biologics after the Viatris biosimilar integration. New launches in FY2026 are expected to sustain a 40-46 per cent US revenue share.Persistent Systems
Persistent Systems generated the majority of its revenue from North America, which accounted for approximately 80 per cent of the company’s total revenue in fiscal 2026. For the year ended December 2025, revenue from North America grew 18.6 per cent year-on-year.Mphasis
The US remains Mphasis's key market, contributing approximately 83 per cent of the company's total revenue in fiscal 2026. US revenue grew 1.4 per cent quarter-on-quarter and 10.8 per cent year-on-year for the quarter ended December 31, 2025.Indo Count Industries
Indo Count Industries, a leading bed linen exporter, derives around 70 per cent of its revenue from the US, which continues to be the company’s largest market in fiscal 2026.Sona BLW (Sona Comstar)
The company, which manufactures electric vehicle (EV) components, derives a significant portion of its revenue from US EV manufacturers. In fiscal 2026, Sona BLW Precision Forgings (Sona Comstar) has seen its revenue share from North America (including the US) decline as it shifts focus to the Indian and European markets. In the quarter ended December 2025, North America contributed about 41 per cent of the company’s total revenue.India-US trade deal
The US and India on Saturday announced that they have reached a framework for an interim trade agreement, under which America will reduce tariffs on India to 18 per cent, according to a joint statement issued by the White House. Both have announced that they have reached a framework for an Interim Agreement regarding reciprocal and mutually beneficial trade (Interim Agreement).The framework reaffirms the countries’ commitment to the broader U.S.-India Bilateral Trade Agreement (BTA) negotiations, launched by US President Donald J. Trump and Prime Minister Narendra Modi on February 13, 2025, which will include additional market access commitments and support more resilient supply chains.
The Ministry of Commerce & Industry has shared the joint statement in a late night note on PIB. The Interim Agreement between the United States and India will represent a historic milestone in our countries’ partnership, demonstrating a common commitment to reciprocal and balanced trade based on mutual interests and concrete outcomes.
