Shares of Gokaldas Exports and other peers from the textile industry surged up to 15% on Thursday, October 23, on rising optimism of a trade deal with the US.

Shares of Gokaldas Exports gained up to 12%, while Kitex Garments shares are up 14%. Shares of Vardhman Textiles, Nitin Spinners, Welspun Living, and Indo Count Industries, are also up between 6% to 10%.

The US has currently imposed a 50% tariffs on Indian exports to the US, with textiles being the most impacted.

Most of these companies have the US as their largest client base, with 50% to 70% of their overall topline coming from the world's biggest consumer market.

US President Donald Trump reiterated that the US is "working on some great deal with India," and that India will not be buying much oil from Russia, which was a contr

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