Welspun Living shares rise over 3% as Trump's new tariffs hit Bangladesh exports
Shares of Welspun Living Ltd surged over 3% on Tuesday, July 8, to ₹147.66 after the Donald Trump administration in the United States announced a new 35% tariff on Bangladeshi exports overnight. The stock climbed from its previous close of ₹143.33, gaining ₹4.33 during morning trade.
The revised tariff rate of 35% marks a slight reduction from the earlier proposed 37% announced in April but remains significantly higher than the baseline tariff of 10%. The US also indicated that negotiations could continue until August 1, when the tariffs are set to take effect.
Welspun Living, a major Indian exporter of home textiles, is expected to benefit from the higher costs imposed on Bangladeshi competitors, potentially increasing demand for Indian products in the US market.
Last week, the US signed a trade deal with Vietnam, setting tariffs at 20% for Vietnamese exports to the US and 40% for goods that are transshipped — i.e., routed through Vietnam to evade duties.
Market participants appear optimistic that India's exporters, including Welspun, could capture some of the share lost by Bangladesh and Vietnam due to the higher tariffs.
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Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
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