New Delhi, Feb. 4 -- Textile stock Gokaldas Exports share price surged over 18%, continuing its sharp upward move on Wednesday, February 4, after a 20% surge in the previous session. The strong rally came as the textile sector emerged as one of the biggest beneficiaries of the newly announced India-US trade deal. It has skyrocketed over 40% in just 2 sessions.

India and the United States have agreed to a trade arrangement under which reciprocal tariffs on Indian goods will be reduced to 18% from 25%. In addition, the extra 25% duty on imports of Russian crude oil will be removed. US President Donald Trump said the agreement would be effective immediately. The development has significantly improved sentiment for textile companies, most of...