New Delhi, Aug. 7 -- Shares of several textile companies, including Gokaldas Exports, Kitex Garments, KPR Mill, and Alok Industries, declined sharply on Thursday after US President Donald Trump announced an additional 25% tariff on Indian goods. The latest move brings the total tariff burden on Indian exports to 50%.

Kitex Garments share price extended its losing streak for the 11th consecutive session and was locked in a 5% lower circuit for the third straight day. KPR Mill shares plunged 6.18%, while Gokaldas Exports shares fell as much as 3.86%, and Indo Count Industries stock price dropped 3.15%. Welspun Living and Pearl Global Industries declined 3.7% each.

The additional tariffs have been described by the US administration as a "p...