US Tariff Refund Lifts Indian Textile & Seafood Stocks

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AuthorIshaan Verma|Published at:
US Tariff Refund Lifts Indian Textile & Seafood Stocks
Overview

Indian textile and seafood exporters are experiencing stock fluctuations after the U.S. started refunding tariffs found unconstitutional. Some companies, like Apex Frozen Foods and Avanti Feeds, saw profit-taking after reaching highs, while others surged.

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Tariff Refunds Begin After US Court Ruling

The U.S. Supreme Court's decision struck down tariffs that had been imposed, allowing for reimbursements that are now reaching affected Indian businesses. This move is expected to significantly boost cash flow and profit margins for Indian companies in the textile and seafood export industries.

Indian Exporter Stocks See Mixed Results

Market reactions on Tuesday showed a mixed trend. Apex Frozen Foods touched a 52-week high of ₹514.20 before closing 2% lower at ₹474.80 on the BSE. Avanti Feeds also reached a 52-week high of ₹1,592.30, finishing the session 2.28% down at ₹1,464.85 on the BSE. Profit-taking seemed to drive these drops.

However, other companies saw strong gains. An unnamed textile exporter rose 6.66% to ₹768.65, and Coastal Corporation shares gained 5% to close at ₹53.25, reflecting investor optimism about the tariff refunds.

Refunds to Boost Exporters' Operations and Growth

Exporters are expected to reinvest these funds back into their operations, which could improve their global competitiveness. The refunds are seen as a positive development that may strengthen their financial health and support future growth plans.

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