LT Foods, GRM Overseas, Kaveri Seed, AWL Agri, KRBL tumble up to 8%; here's why

Shares of LT Foods Ltd, GRM Overseas Ltd, Kaveri Seed Company Ltd, AWL Agri Business Ltd and KRBL Ltd experienced a drop in Tuesday's trade. LT Foods bore the brunt, slumping 7.95 per cent to a day’s low of Rs 362.20. GRM Overseas declined 5.39 per cent to Rs 439.20, KRBL dropped 2.75 per cent to Rs 370.05, AWL Agri slipped 2.37 per cent to Rs 245.05 and Kaveri Seed fell 2.07 per cent to Rs 929.25.

The decline in rice exporters' stock prices follows recent remarks at a White House event where US President Donald Trump warned of new tariffs on rice imports.

Trump cited "dumping" practices by India, Vietnam and Thailand as the rationale for imposing tariffs. India, which accounts for about 28 per cent of global rice production and 30 per cent of global exports for 2024–2025, could face earnings pressure if these tariffs are applied.

Meanwhile, Indian equity benchmarks opened lower on Tuesday. The 30-share BSE Sensex pack and the broader NSE Nifty index declined, influenced by weak global cues and ongoing uncertainty about a potential US trade agreement ahead of the Federal Reserve's upcoming rate decision.

Asian markets traded mostly lower in the session. South Korea's Kospi fell 0.72 per cent to 4,125.07 and Hong Kong's Hang Seng Index dropped 0.87 per cent to 25,541.06. Japan's Nikkei 225 was an exception, up 0.21 per cent at 50,688.20.

Overnight trading on Wall Street saw selling pressure, with all major indices closing in the red. The Dow Jones Industrial Average decreased by 0.45 per cent to 47,739.32, the S&P 500 fell 0.35 per cent to 6,846.51 and the Nasdaq Composite edged down 0.14 per cent to 23,545.90.