Indian chemical makers drop on US reciprocal tariffs

Shares of Indian chemical makers SRF SRFL.NS, UPL UPLL.NS drop 5.1% and 1.6%, respectively, while Navin Fluorine NAFL.NS plunged 5.4%

Deepak Nitrite DPNT.NS down 2.4%

U.S. President Donald Trump imposed 26% reciprocal tariffs on Indian imports as part of his wider plan to levy a 10% baseline tariff on all imports from April 5

Sectors including chemicals likely to take major hit from the broader tariffs, analysts at Nirmal Bang said in a note

Chemicals account for about 4.01% of India's exports share to the U.S. - Nirmal Bang

SRFL, DPNT rated "hold" on avg, UPL, NAFL rated "Buy" - data compiled by LSEG

Year-to-date, SRFL, UPLL, NAFL, up 33%, ~31%, ~31%, while DPNT down ~19%