Gokaldas Exports shares zoomed 19% today; here is why

Shares of Gokaldas Exports Ltd soared 18.81 per cent in Wednesday's trade to hit a high of Rs 1,013. The stock cooled a bit as the session progressed and was last seen trading 12.92 per cent higher at Rs 962.85. At this price, it has climbed 21.61 per cent in a month.

The counter saw an sharp uptick today following a 'game-changing' Free Trade Agreement (FTA) between India and the United Kingdom (UK). "The textile sector can benefit from the UK-FTA deal. Within the select space, Gokaldas Exports seems to be a better pick with around 80 per cent exports. The UK-FTA is a beginning of settlements and we may also see these tariff-centric settlements very soon," market expert Nischal Maheshwari told Business Today.

Prime Minister Narendra Modi today announced the conclusion of the FTA with the London, along with a Double Contribution Convention. This treaty implies that automotive tariffs will fall from 100 per cent to 10 per cent under a quota, as per the FTA.

"A game-changing FTA between India and the UK. Zero-duty access for 99 per cent of our exports, big wins for services, 3-year social security exemption for professionals-boosts for India's competitiveness, MSMEs, deepens global value chain integration. A bold leap towards Viksit Bharat 2047," said Nirmal Jain, Founder at IIFL Group.

"Technically, support for Gokaldas' scrip will be at Rs 920 and resistance at Rs 1,030. A decisive move above Rs 1,030 level may trigger a further upside towards Rs 1,050. The expected trading range will be between Rs 920 and Rs 1,050 for the short term," said Jigar S Patel, Senior Manager - Technical Research Analyst at Anand Rathi.

As of March 2025, promoters held a 9.38 per cent stake in the textile firm.