Navin Fluorine, SRF and other chemical stocks drop up to 6% after US tariff
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Indian chemical stocks, including Navin Fluorine, PI Industries, UPL, and SRF, fell by up to 6% in Thursday’s trade after the Trump administration imposed a 26% blanket tariff on Indian imports. The chemicals sector is expected to face a negative impact, with Navin Fluorine (25% revenue exposure), PI Industries (20%), and SRF (7%) directly affected by the higher tariffs. According to Jefferies, the 26% U.S. tariff on the sector could significantly impact revenue streams. Auto stocks were also hit, with Balkrishna Industries, Bharat Forge, Bajaj Auto, Tata Motors, and Motherson falling by up to 4% in response to the announcement. Analysts view this as a major setback for India's export-driven sectors, particularly automobiles. Also Read: Gold, not Bitcoin, is the real threat to the Dollar, says Peter Schiff The automobile sector, which contributes around 3% of India's total exports to the U.S., is expected to face demand pressures....