Gokaldas Exports Shares Zoomed 19% Today; Here Is Why

Shares of Gokaldas Exports Ltd soared 18.81 per cent successful Wednesday's waste and acquisition to deed a precocious of Rs 1,013. The banal cooled a spot arsenic nan convention progressed and was past seen trading 12.92 per cent higher astatine Rs 962.85. At this price, it has climbed 21.61 per cent successful a month.

The antagonistic saw an crisp uptick coming pursuing a 'game-changing' Free Trade Agreement (FTA) betwixt India and nan United Kingdom (UK). "The textile assemblage tin use from nan UK-FTA deal. Within nan prime space, Gokaldas Exports seems to beryllium a amended prime pinch astir 80 per cent exports. The UK-FTA is simply a opening of settlements and we whitethorn besides spot these tariff-centric settlements very soon," marketplace master Nischal Maheshwari told Business Today.

Prime Minister Narendra Modi coming announced nan conclusion of nan FTA pinch nan London, on pinch a Double Contribution Convention. This pact implies that automotive tariffs will autumn from 100 per cent to 10 per cent nether a quota, arsenic per nan FTA.

"A game-changing FTA betwixt India and nan UK. Zero-duty entree for 99 per cent of our exports, large wins for services, 3-year societal information exemption for professionals-boosts for India's competitiveness, MSMEs, deepens world worth concatenation integration. A bold leap towards Viksit Bharat 2047," said Nirmal Jain, Founder astatine IIFL Group.

"Technically, support for Gokaldas' scrip will beryllium astatine Rs 920 and guidance astatine Rs 1,030. A decisive move supra Rs 1,030 level whitethorn trigger a further upside towards Rs 1,050. The expected trading scope will beryllium betwixt Rs 920 and Rs 1,050 for nan short term," said Jigar S Patel, Senior Manager - Technical Research Analyst astatine Anand Rathi.

As of March 2025, promoters held a 9.38 per cent liking successful nan textile firm.

Published on: May 7, 2025 1:34 PM IST