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Business Standard
06-08-2025
- Business
- Business Standard
Gokaldas Exports tanks 15% in 2 days; what's making the Street nervous?
Gokaldas Exports share price today Shares of Gokaldas Exports hit a 52-week low of ₹696.40, falling 7 per cent on the BSE in Wednesday's intra-day trade as June 2025 quarter (Q1FY26) revenues witnessed tepid growth due to impact of US Tariff and lower than expected growth across acquired entities. The recently announced revised reciprocal tariff by the US on India is expected to pose a challenge in the second half of this financial year, the management said. In past two trading days, the stock price of garments & apparels company has slipped 15 per cent. It is trading at its lowest level since April 2024. The stock has corrected 45 per cent from its 52-week high level of ₹1,260 touched on December 18, 2024. At 09:55 AM; Gokalads Exports was trading 5 per cent lower at ₹710.15, as compared to 0.03 per cent decline in the BSE Sensex. Q1 results – Gokaldas Exports Gokaldas Exports consolidated revenues witnessed 3 per cent year-on-year (Y-o-Y) growth to ₹956 crore. Ex-acquired entities, revenues witnessed 19 per cent Y-o-Y growth indicating slower order flow from US as Atraco primarily served the US markets while Matrix serves the European markets. Profit after tax (PAT) grew 53 per cent Y-o-Y, down 22 per cent quarter-on-quarter (Q-o-Q) at ₹41 crore. Favourable input cost situation translated to better gross margins which witnessed 556bps Y-o-Y improvement to 53.7 per cent. Earnings before interest, taxes, depreciation, and amortization (EBITDA) grew by 8.3 per cent Y-o-Y to ₹96.6 crore while margins improved by 54bps to 10.1 per cent in Q1FY26. The management said the company reported a moderate growth in its total income, as it was period impacted by tariff. The company reported a healthy growth in PAT and an improvement in EBITDA margins on a Y-o-Y basis, supported by productivity gains and robust cost management efforts. Demand outlook On-demand front apparel imports in the first five months of the calendar year across the US, EU, and UK increased by 7 per cent, 12 per cent & 10 per cent respectively as brands have rationalized their inventory-to sales ratio levels. The recently announced revised reciprocal tariff by the US on India is expected to pose a challenge in the second half of this financial year, as most of the company's order bookings for the next quarter are already closed. 'That said, any positive outcome on the US India trade deal might abate this impact. Amidst these challenges, our Africa business might be at an advantageous position with 10% US reciprocal tariffs on both Kenya and Ethiopia, and we are working towards an active engagement with our clients on the same,' the management said in Q1 investor presentation. Meanwhile, in the longer term, sourcing diversification is a key theme for all customers, and India remains one of the top contenders among its Asian peers. The recently announced India-UK FTA offers a 12 per cent duty advantage over China and puts India on par with Bangladesh, creating a strong export potential. The trade deal with the EU could open significant opportunities for Indian apparel exporters, the company said. Looking ahead Gokaldas Exports remains cautious with capex spending in the near term. The ongoing capacity expansions in Madhya Pradesh, Karnataka and Jharkhand will materialize in Q3FY26. As expected Gokaldas Exports performance has affected by tariff led uncertainties in US. Standalone level performance was much better. Despite flat revenues it managed to achieve good profitability. ICICI Securities said they shall review our estimates post the management commentary on US market and opportunities ahead in UK market.
Bloomberg
09-07-2025
- Business
- Bloomberg
Vietnam to Draw Foreign Inflows on Tariff Deal, VinaCapital Says
Foreign investors are expected to flock back to Vietnam's stock market after the country received a lower-than-expected US tariff, said Thu Nguyen, deputy chief executive officer of VinaCapital Fund Management. Vietnamese stocks benefited from the return of foreign investors after US President Donald Trump announced a trade deal with the Southeast Asian nation, Thu said in an interview with Bloomberg TV's Haslinda Amin on the sidelines of an investment summit in Hanoi. A potential FTSE Russell market upgrade will also entice investors, she added.
CNN
24-05-2025
- Business
- CNN
The latest on Trump's presidency as he addresses West Point graduates
Update: Date: 8 min ago Title: EU trade chief says a deal with the US must be based on respect, not threats Content: A trade deal between the European Union and the US must be based on 'mutual respect, and not threats,' the EU's trade chief said, after President Donald Trump threatened the bloc with a 50% tariff. 'The EU's fully engaged, committed to securing a deal that works for both,' Maroš Šefčovič wrote in a post on X yesterday after a call with US Trade Representative Jamieson Greer and Commerce Secretary Howard Lutnick, adding that the European Commission 'remains ready to work in good faith.' However, he said, EU-US trade 'must be guided by mutual respect, not threats.' 'We stand ready to defend our interests,' Šefčovič added. Some context: Trump raised the prospect of the 50% tariff on goods from the EU yesterday, citing a lack of progress in trade negotiations. The tariff Trump is considering slapping on the EU is more than double the size of the 20% initial 'reciprocal' tariff that was briefly in place in April before he swiftly paused those tariffs to allow for further negotiations. In a post on Truth Social, the president said he took particular issue with 'non-monetary trade barriers,' as he has repeatedly called them, as well as countries or trading blocs that run trade deficits with the US. Those occur when the US purchases more from another trading partner than that country purchases from the US. CNN's Elisabeth Buchwald contributed reporting to this post. Update: Date: 18 min ago Title: Trump's trade war: What to know about the president's latest tariff threats Content: President Donald Trump issued a pair of new threats in his ever-evolving trade policy yesterday, taking aim at the European Union and cellphone makers. Here are the two key tariff headlines entering the weekend: Trade demands for the EU: The president has threatened a 50% tariff on goods from the European Union, citing a lack of progress in negotiations and policies he says are contributing to an unacceptable trade deficit with the bloc. 'Our discussions with them are going nowhere!' Trump said in a Truth Social post yesterday morning. 'Therefore, I am recommending a straight 50% Tariff on the European Union, starting on June 1, 2025.' During an executive order signing in the Oval Office later that day, Trump escalated his message: 'I'm not looking for a deal,' he said. 'We've set the deal — it's at 50%.' Trump did open the door to pushing his June 1 deadline further, however, and his tariff threats have repeatedly been followed by reversals and delays. Ultimatum for smartphone makers: Trump also demanded yesterday that Apple and other smartphone makers like Samsung make their phones in the US or face a 25% tariff. 'I have long ago informed Tim Cook of Apple that I expect their iPhone's that will be sold in the United States of America will be manufactured and built in the United States, not India, or anyplace else,' Trump wrote on Truth Social. 'If that is not the case, a Tariff of at least 25% must be paid by Apple to the U.S.' Trump later told reporters in the Oval Office that the tariff would apply to any phone maker selling devices in the US, calling out Samsung by name. The threat comes after Trump expressed displeasure last week that Apple plans to manufacture iPhones for sale in the US at newly built plants in India. Update: Date: 19 min ago Title: Watch: Breaking down a busy week at the White House Content: In another busy week, President Donald Trump met at the Oval Office with the South African President Cyril Ramaphosa and tracked Republican efforts to get his sweeping tax and spending cuts package through Congress. CNN's Kaitlan Collins debriefs on the past few days at the White House:
Time of India
22-04-2025
- Business
- Time of India
US, India Set Trade Goal, Strengthen Ties on Defence, Energy and Innovation: JD Vance
US Vice President JD Vance highlighted the immense potential of the India-US partnership, emphasizing that both nations have much to gain by working together. Speaking at an event in Jaipur during his India visit, Vance underlined the Trump administration's vision for deeper cooperation with India across various sectors. He stated that President Trump is committed to fostering growth not just for America, but for India as well, aiming to build a strong, prosperous future with trusted partners. Vance reiterated that collaboration between the two countries could unlock new opportunities in trade, security, technology, and energy, benefiting both economies and strengthening their strategic ties.#TOIBharat #TradeDeal #USTariff #IndiaUS #IndiaUSTradeDeal #IndoUS #IndiaUSRelation #JDVance #VanceIndiaVisit #NarendraModi #DonaldTrump
