Textiles, leather, pharma, auto stocks in focus ahead of India-UK trade agreement sign-off

Textile, leather, pharmaceuticals, auto and other sector stocks are in focus on Thursday, July 24, ahead of a trade pact between India and the UK.

India and the UK will sign a free trade agreement on Thursday in London, which will allow the export of labour-intensive products, such as leather, footwear and clothing at concessional rates, while making imports of whisky and cars from Britain cheaper.

Defying a weak trend in the broader equity market, leather-related stocks were trading in the positive territory on the National Stock Exchange (NSE), with AKI India Ltd surging 5%. It was followed by Mirza International (2.97%), Mayur Uniquoters (1.65%) and Zenith Exports (0.38%).

Textile-related stocks, including Pearl Global Industries (4.61%), Arvind Ltd (3.76%), Vardhman Textiles (3.19%), Trident Ltd (2.93%), Welspun Living (2.1%) and Alok Industries (1.08%), were also trading higher during the morning trade.

Pharmaceutical sector shares were seen trading in the green, with Dr Reddy's Laboratories rising as much as 3.25%, after the company reported a 1.85% year-on-year (YoY) increase in its net profit to ₹1,417.8 crore in the June FY26 quarter, compared to ₹1,392 crore in the year-ago period. Its revenue from operations surged 11.37% YoY to ₹8,572 crore in the quarter under review, as against ₹7,673 crore in Q1FY25.

It was followed by Lupin (1.84%), Aurobindo Pharma (1.13%) and Alkem Laboratories (1.13%). At the time of writing, NIFTY Pharma was trading 0.62% or 140 points higher at 22,557.45.

Tata Motors climbed 2.38%, and auto components and equipment maker Sona BLW Precision Forgings was trading 0.78% higher. The NIFTY Auto gauge stood at 24,082.55, up by 3.15 points or 0.01%.

The 30-share BSE Sensex was quoted at 82,164.57, down 562.70 points or 0.68%. The 50-share NSE Nifty traded 162.10 points or 0.62% lower at 25,057.80.

The two countries announced the conclusion of the negotiations for the trade agreement on May 6.

Shares of United Spirits and United Breweries were also quoting higher.

The proposed trade pact between India and the UK is likely to benefit sectors such as textiles, leather, gems and jewellery, pharmaceuticals, marine and engineering goods, the exporters' body FIEO said on Wednesday.