Leather pharma textiles stocks in limelight Mirza International zooms nearly 9 pc

    New Delhi, Jul 25 (PTI) Shares of leather, pharma and textiles companies were in the limelight on Friday after India and the UK signed a landmark free trade agreement.
    The deal, which comes days ahead of the US moratorium on higher tariffs coming to an end, aims to double the USD 56 billion trade between the world's fifth and sixth largest economies by 2030.
    Among leather-related stocks, Mirza International zoomed 8.78 per cent, AKI India jumped 4.92 per cent, Superhouse Ltd climbed 3.85 per cent, Super Tannery (1.56 per cent) and Metro Brands (1.26 per cent) on the BSE.
    Shares of Cipla jumped 2.95 per cent, Torrent Pharma climbed 2.62 per cent, Dr Reddy’s Laboratories gained 0.97 per cent, Pfizer (0.96 per cent), Aurobindo Pharma (0.80 per cent), Sun Pharma (0.52 per cent), Zydus Lifesciences (0.41 per cent) and Lupin (0.32 per cent).
    Textile-related stocks like Gokak Textiles surged 4.70 per cent, and Trident went up by 0.13 per cent.
    "The India-UK FTA, which is India's first comprehensive trade agreement with a major developed country, has two implications from the market perspective.
    "One, this FTA will significantly boost trade between both countries, which will be seen as a positive by the market. Two, this FTA, along with many other FTAs signed by India with other countries, projects India as a nation committed to free trade," VK Vijayakumar, Chief Investment Strategist, Geojit Investments Ltd, said.
    The fact that this FTA has come during a time of tariff wars is commendable, and hopefully this will improve India's chances of striking a fair-trade deal with the US, Vijayakumar noted.
    "Sectors like textiles, leather, food processing, automobiles, pharmaceuticals and gems and jewellery, which are expected to benefit from the FTA, will be on the market radar," he added.
    While India has opened its market to various consumer goods, including chocolates, biscuits, and cosmetics, it will gain greater access to export products, such as textiles, footwear, gems and jewellery, sports goods, and toys.

(This story has not been edited by THE WEEK and is auto-generated from PTI)