India-US trade deal: Even as the Indian stock market slipped over 0.6% on Thursday, a handful of stocks bucked the broader weakness, rallying as much as 19%. The common thread among the top five gainers — Ratnamani Metals, Avanti Feeds, Sterlite Technologies, Sharda Cropchem and Sky Gold & Diamonds — is their exposure to the US market and potential gains from the recently signed India–US trade deal.
Trading volumes in most of these counters were significantly higher than their recent averages, indicating strong investor interest.
Last week, India and the US reached an interim trade agreement under which the US will reduce tariffs on select Indian goods to 18% from 50%, according to a joint statement issued by the White House.
The announcement sparked buying in companies with meaningful US revenue exposure, particularly in sectors such as gems and jewellery, seafood, agrochemicals and industrial exports.
Since the February 2 announcement, some of these stocks have surged as much as 70%, with Avanti Feeds emerging as the top performer.
| Company Name | 1-day change (%) | Gains since Feb 2 (%) |
|---|---|---|
| Ratnamani Metals | 19.4 | 13.72 |
| Avanti Feeds | 18.33 | 76.32 |
| Sterlite Tech. | 8.17 | 40.86 |
| Sharda Cropchem | 9.41 | 11.23 |
| Sky Gold & Diam. | 9.81 | 21.26 |
| Data Source: BSE, Capitaline |
Ratnamani Metals jumps 19%
Ratnamani Metals soared 19% on Thursday, with 1.12 lakh shares changing hands compared with a two-week average of just 1,276 shares on BSE.
The US is a key export market for the company. Ratnamani generates nearly 40% of its revenue from exports across more than 35 countries. In FY25, the US accounted for over 7% ( ₹124 crore) of its total exports of ₹Rs 1,729 crore.
A potential reduction in tariffs could improve the competitiveness of its stainless steel and carbon steel pipe products in the US market, supporting order inflows and margins.
Avanti Feeds extends rally, climbs 18%
Avanti Feeds rallied 18% today, taking its gains since February 2 to 76%.
The United States accounts for approximately 48% of India’s total shrimp exports, and Avanti derives an estimated 70–75% of its export revenue from the US market. Any tariff relief could enhance realizations and export volumes, directly benefiting the company’s profitability.
Given its heavy US exposure, the stock has seen a sharp rerating following the trade announcement. The company posted a 16% YoY jump in its consolidated net profit at ₹163.47 crore in Q3FY26 on Wednesday.
Sterlite Technologies zooms 8%, up 41% in Feb
Sterlite Technologies, another key beneficiary of the India-US trade deal, rose over 8% to ₹154.80. Since the deal announcement, the stock has made a staggering return of over 22%.
Sterlite Tech is a key supplier of optical fiber cable. Despite the tariff hike, North America’s share in its revenue increased to 36% from 25% in the current financial year, according to the company management, led by data-centre buildouts and demand for high-fibre-count cables.
Improved trade terms could strengthen its order pipeline and execution visibility.
Sharda Cropchem jumps
Sharda Cropchem, which exports agrochemical formulations to global markets including the US, gained 9% as investors bet on improved pricing and market access following the trade deal announcement. The stock has risen 11% since February 2.
Antique Broking had listed agro-chemical companies, including UPL, SRF and Sharda Cropchem, as key beneficiaries of the trade deal, as per a report in Financial Express.
According to a Crisil report from December, over 65% of India’s agrochemical exports are headed to Latin America, North America and Europe. The demand in Latin America has improved modestly, Europe is stabilizing as the inventory levels fall back to the normal levels, and the US market has remained steady with 80–85% of Indian shipments exempt from the latest tariff hikes, it said.
Sky Gold & Diamonds glitters
Lastly, Sky Gold & Diamonds has jumped 9.8% today. The stock has jumped 21.25% in a span of eight trading sessions as the US remains a major market for the gems and jewelery industry, accounting for nearly 30% of exports.
Sky Gold is also actively expanding its footprint in the US market as part of a strategy to increase its export revenue to 30% by FY27, up from 11% in Q1 FY25.
Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions.
