IT rout drags Indian markets; sector on track for worst month in 23 years on AI fears
Indian equity benchmarks tumbled on Tuesday, dragged by information technology stocks which are on course for their worst month since April 2003 on persistent fears of AI-driven disruption. The Nifty 50 fell 1.12% to 25,424.65 and the BSE Sensex shed 1.28% to 82,225.92. IT stocks slumped 4.7% to a 30-month low. The sub-index has lost 21% so far in February, wiping out an aggregate $68.5 billion in market value from its 10 constituents. In contrast, AI-linked stocks in South Korea and Taiwan helped those markets notch record closing highs as Asian markets steadied after a wobbly start on Tuesday. If losses hold in the next three sessions, the Nifty IT index will post its worst monthly performance in about 23 years, when the sector cracked on geopolitical tensions due to the U.S.-Iraq war, poor earnings from Infosys and SARS virus outbreak in South-East Asia. READ MORE: Indian shares gain on US tariff relief, IT firms extend losses Rapid developments in AI are spurring questions about the long-term outlook for India’s technology sector, even as executives frame disruption as an opportunity.
cityfalcon.com
Indian textile exporter Gokaldas expects margin lift after US trade deal
Indian textile firm Gokaldas Exports anticipates improved core earnings margins by fiscal 2027. Lower U.S. tariffs under a new trade deal will provide relief. The company expects quarterly margins to rise to the early double digits. This follows a period of margin pressure due to higher tariffs. Benefits are anticipated after the second quarter of fiscal 2027.
cityfalcon.com
Textile stocks mixed: Gokaldas Exports drops 4%, Welspun jumps 5% after US SC tariff ruling
Indian textile stocks saw mixed trading on Monday. This followed a US Supreme Court ruling on tariffs. President Trump then imposed new global tariffs. This has created uncertainty for trade deals. India is studying the implications. A key trade meeting between India and the US has been rescheduled. Indian stock markets advanced on the news.
cityfalcon.com
Gokaldas Exports, KPR Mill, other textile stocks drop up to 6%. What is triggering the fall?
Indian textile shares dropped significantly on Tuesday. This followed Bangladesh signing a trade deal with the U.S. The agreement grants Bangladesh reduced tariffs and exemptions on certain textile and garment exports. This development is expected to increase competition for Indian manufacturers. Several Indian textile companies saw their stock prices fall.
cityfalcon.com
Societe Generale enters Gokaldas Exports with Rs 41 cr bulk deal as stock rallies 43%
Gokaldas Exports saw a significant bulk deal as Societe Generale purchased over 5 lakh shares worth Rs 41 crore. The apparel manufacturer's stock has surged 43% in two days, benefiting from a US-India trade deal that slashes tariffs on Indian goods. Despite recent gains, the stock remains down 14% year-to-date.
cityfalcon.com