Indian cloth maker Pearl Global sinks 18% on US tariff exposure
ReutersApr 4, 2025 9:07 AM
Shares of Indian cloth manufacturer and exporter Pearl Global Industries PGIL.NS down 17.9% to 1,040 rupees, lowest since Nov. 19, 2024
If losses hold, stock on track for its worst day since Oct. 2008
India was hit with a 26% retaliatory levy by U.S. President Donald Trump, while China has 34% and Vietnam hit with 46% and Bangladesh 37%
PGIL's business segments include Bangladesh, Hong Kong, India, Vietnam, among others
Co has 45-50% of exports to the U.S., MD Pallab Banerjee tells CNBC-TV18
Co's Vietnam facility most exposed after Trump tariffs, Banerjee tells CNBC-TV18
About 713,000 shares change hands, see the most active session since July 2024
PGIL trims YTD gains, down 14% so far this year
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