Gokaldas Exports slips 7%, stock hits over 6-month low

According to a report, global garment retailers are asking Indian exporters to reduce apparel prices as cotton prices have dropped 16 per cent and the Indian rupee has devalued against the US dollar.

Shares of Gokaldas Exports hit over six-month low of Rs 319.55 and slipped 7 per cent on the BSE in Wednesday’s trade. The stock of garments and apparels maker traded at its lowest level since January 1, 2022. It has corrected 38 per cent from record high level of Rs 319.55 that it had touched on May 18, 2022.

According to a report, global garment retailers are asking Indian exporters to reduce apparel prices as cotton prices have dropped 16 per cent and the rupee has devalued against the US dollar. 

Analysts at ICICI Securities believe that if