India, July 8 -- Share prices of textile industries skyrocketed on Tuesday as US President Donald Trump imposed a 35 per cent tariff on Bangladesh, which plays a crucial role in the Indian textile sector.

Bangladesh acts as a major manufacturing hub for garments, especially for the global clothing market, as well as a crucial market for Indian textile exports.

Shares of textile companies like Gokaldas Exports Limited, KPR Mill Limited, Vardhman Textiles Limited, Arvind Limited, etc, saw a sharp rise in Tuesday trading.

Gokaldas Exports Limited's shares rose 8 per cent in early trade and reached an intraday high of Rs.975. The shares of KPR Mill, meanwhile, surged up to 4 per cent and reached a day's high of Rs.1,222.90.

Vardhman Texti...