GAGA Share Market News

[hfe_template id='11223'] [ad_1] Shares of textile companies dropped up to 6% on Tuesday after the government reduced duty benefits for exporters under the Remission of Duties and Taxes on Exported Products (RoDTEP) scheme by 50%. Gokaldas Exports shares declined 6% to trade at Rs 703 apiece on the NSE. Trident shares fell 3%, while Pearl Global Industries and Arvind Fashions shares were down around 2% each in the morning trading hours of Tuesday. Why are textile stocks falling today? The government has cut the duty benefits available to exporters under the RoDTEP scheme by 50%. “RoDTEP benefits shall be restricted to 50% of the notified rates and value caps with immediate effect," The Directorate General of Foreign Trade, in a notification, said. The move prompted exporters to urge the government to review the decision amid a demand slowdown and uncertainties.“With immediate effect, the applicable RoDTEP rates for all HS Lines as notified… shall be limited to 50% o...

[hfe_template id='11223'] [ad_1] Shares of textile companies dropped up to 6% on Tuesday after the government reduced duty benefits for exporters under the Remission of Duties and Taxes on Exported Products (RoDTEP) scheme by 50%. Gokaldas Exports shares declined 6% to trade at Rs 703 apiece on the NSE. Trident shares fell 3%, while Pearl Global Industries and Arvind Fashions shares were down around 2% each in the morning trading hours of Tuesday. Why are textile stocks falling today? The government has cut the duty benefits available to exporters under the RoDTEP scheme by 50%. “RoDTEP benefits shall be restricted to 50% of the notified rates and value caps with immediate effect," The Directorate General of Foreign Trade, in a notification, said. The move prompted exporters to urge the government to review the decision amid a demand slowdown and uncertainties.“With immediate effect, the applicable RoDTEP rates for all HS Lines as notified… shall be limited to 50% o...