Responsive Industries share price surged 17% during Tuesday’s trading session following an agreement between India and the US on a trade deal that will reduce the reciprocal tariff on Indian products from 25% to 18%.
Responsive Industries share price today opened at an intraday low of ₹173.50 apiece on the BSE, the stock touched an intraday high of ₹195.20 per share.
Home decor stock gained attention as the company asserted a link to the India-US trade agreement. Responsive Industries stated in a press release that a significant share of its revenue from the US comes from the export of Luxury Vinyl Plank (LVP) flooring and various other resilient flooring products.
Further, the company indicated that approximately 40-41% of its total export revenue of ₹247 crore for FY25, which is around $29-30 million, originated from the US market.
According to the company, its business in the US is mainly propelled by high-margin LVP flooring, resilient flooring, and synthetic leather offerings.
Responsive Industries mentioned that it runs a dedicated distribution center in Simpsonville, South Carolina, which facilitates next-day deliveries and more efficient order fulfillment for customers throughout the region. Additionally, the company noted that it is broadening its B2C reach in the US with brands like ALLURE, TRANQUIL, BELLISIMO, and RESONATE.
The company has announced its plans to actively broaden its presence in the US to take advantage of the increasing popularity of luxury vinyl tile (LVT) products, especially in high-demand residential and commercial sectors.
Responsive Industries stated in a press release that this approach is designed to enhance its standing in the US flooring market and promote higher-margin growth in exports.
Technical Views
According to Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, Responsive Industries share price has opened with a strong gap-up and is witnessing follow-through buying, with prices up over 15%. This sharp momentum has pushed the stock above its short-term moving averages.
“In the near term, the upside momentum could extend further, with the 200-day simple moving average placed around the 210 zone acting as the next key target. On the downside, immediate support is seen near the 180 level,” said Bhosale.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
