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Trump announced in the early hours of Thursday, Indian time, that the US has implemented a 26% reciprocal tariff on India across products, barring sectors like Pharma.
The tariff is significantly higher for chemical companies as the existing import rate was only 3.5%.
However, the US has also taxed other key exporters of Chemicals to the US, such as China (34%), the European Union (20%), Japan (24%) and South Korea (25%). This leaves India either better placed or on an equal footing compared to other chemical exporting countries.
As per its annual report for financial year 2024, the US contributed 12% to SRF’s overall revenue, while 65% of Navin Fluorine’s overall revenue comes from the export market.
Shares of SRF ended 3.3% higher on Wednesday and are trading close to their 52-week high. The stock has risen 35% so far in 2025 and is among the outperformers this year.
Shares of Navin Fluorine ended 1.2% higher on Wednesday and have risen 30% so far in 2025.
Galaxy Surfactants shares ended 8% higher on Wednesday and that gain trimmed its year-to-date loss down to 10%.
PCBL shares have outperformed over the last one month with a 21% surge, which has trimmed its 2025 losses down to 5%.
First Published: Apr 3, 2025 8:12 AM IST
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