NEW DELHI: Shares of major pharmaceutical and textile companies have seen a significant fall since US President Trump announced tariffs of 25% on Indian exports. Between July 30 and Aug 5, Gokaldas Exports, among the top textiles players, experienced the steepest fall of 15.9%. The company’s shares closed at Rs 1,632 on Tuesday, compared with Rs 1,707 on July 30. Trump had announced the tariffs after markets closed on July 30. The new tariffs are effective Thursday. Other major players such as Vardhman Textiles and Welspun Living also saw value erosion as investors turned nervous due to the exposure of the companies to the US market (see graphic). Almost all these companies have major trade with the US, with Gokaldas exporting around 23% of all its finished goods to American buyers. While pharma is currently exempted from higher tariffs, stocks in the sector were also hit. On Tuesday, Trump threatened 250% additional duty on the sector in coming months. Aurobindo Pharma and Dr Reddy’s get nearly half their revenues from the US, while around a third of Lupin and Sun Pharma’s revenues are linked to the American market, AngelOne said.Aurobindo Pharma scrip was down 6.8% since the July 30 announcement, with Lupin, Sun Pharma and Dr Reddy’s also in the red. In a report, ICRA Research said that Indian pharma companies have a strong presence in the US, which remains one of their most significant sources of revenue. On textiles, it said: “India is currently in a marginally weaker position, and it remains to be seen if it can pass on the steep increase in tariffs to its US customers. The recent imposition of tariffs (and penalties) by the US is likely to disrupt the supply chain and impact volumes and profit margins of Indian apparel exporters in near term.“Textiles exporters are fearing a loss of orders to China and Bangladesh. The unspecified penalty on Indian exports to the US for arms and oil purchases from Russia is adding to the uncertainty for homegrown players. “Within the textiles sector, companies in the garments and home textiles segments, and those with significant exposure to the US market, are likely to be affected by higher tariffs. That said, India has traditionally had a strong position in the cotton value chain, which should help in redirecting sales to other markets,” said Anand Shah, chief investment officer – PMS & AIF at ICICI Prudential AMC, told TOI.