Shares of export-oriented companies pared losses and climbed to their day’s highs on January 12 after comments by US Ambassador Sergio Gor on the India-US trade deal lifted market sentiment.
The rebound
followed sharp declines last week, triggered by US President Donald Trump’s threat to impose 500% tariffs on countries continuing business ties with Russia, including India.
What did the US ambassador say?
Sergio Gor, who assumed charge as US Ambassador to India in New Delhi on Monday, said both countries are actively engaged and that the next discussion on the long-awaited trade deal will take place tomorrow. He also said President Trump is expected to visit India in the next one to two years.
Gor added that Trump had conveyed his best wishes to Prime Minister Narendra Modi, describing their relationship as genuine. “Real friends can disagree, but resolve the difference,” he said, portraying the trade talks as part of a resilient and broader partnership.
Textile and shrimp stocks rally
Avanti Feeds rose over 2% from the day’s low to trade at Rs 802.5, while Apex Frozen Foods surged 7% intraday to Rs 268.95. Coastal Corp gained around 2%.
Gokaldas Exports jumped 7% intraday to its day’s high of Rs 648.5. The US contributes more than 60% of the company’s revenue. Its shares have fallen over 34% in 2025 amid Trump’s tariff flip-flops.
KPR Mill climbed about 7% to its day’s high, while Pearl Global advanced 3% intraday.
