New Delhi, April 7 -- Bharat Forge Ltd shares plunged nearly 20% after the US announced a reciprocal tariff on Indian imports. In the nine-month period ended December (9MFY25), the company derived 37% of its standalone revenues from exports to the American continent.

A large chunk of that could be from the US, even though country-specific data is not available. Though India is likely to negotiate a bilateral trade agreement (BTA) with the US, it could be a tough negotiation given that India has not managed to conclude a BTA with the UK for at least a year.

The US has levied reciprocal tariff rate of 26% on imports from India, including a baseline import tariff of 10%. It would be challenging to pass on entire import duty burden to custo...