All eyes are on key export sectors, including textiles, jewelry, and chemicals, as the 50% tariffs on Indian goods came into effect on Wednesday.
Indian equity markets fell sharply on Tuesday, dragged by steep losses in the real estate, pharmaceutical, metals, and banking sectors. The Nifty closed well below a crucial support level at 24,890.
The broader markets are likely to open lower on Thursday, with the Gift Nifty, an early indicator for the Nifty 50 index, down 0.35% at 24,660 at 8:25 am IST.
Market participants will keep a close watch on key export sectors, including textiles, jewellery, and chemicals, as Donald Trump-imposed 50% tariffs on Indian goods came into effect on Wednesday.
Investors will also monitor developments in India’s relations with China and Russia ahead of the Shanghai Cooperation Organisation (SCO) summit later this month.
July’s industrial and manufacturing production data is scheduled for release after market hours.
Stock Watch
InterGlobe Aviation: The Rakesh Gangwal family is set to sell up to a 3.1% stake in IndiGo through block deals worth ₹7,027 crore, with a floor price of ₹5,808 per share, as reported by CNBC-TV18.
SMS Pharmaceuticals: SMS Pharma received a US FDA Establishment Inspection Report with a “No Action Indicated” status for its Hyderabad Central Lab following an inspection from June 23 to 25, which concluded with zero Form 483 observations.
Dr Reddy’s Laboratories: The Telangana High Court granted an interim stay on income tax reassessment proceedings related to the merger of Dr Reddy’s Holding with the company until the next hearing.
BSE: Subsidiaries BSE Investments and BSE Administration and Supervision have secured board approvals to merge with BSE Technologies.
United Breweries: United Breweries will invest ₹90 crore to set up a new canning line at Nizam Brewery, Telangana, adding 0.4 mhl capacity for premium Kingfisher and Heineken products, with all approvals in place.
SBI Cards and Payment Services: SBI Cards partnered with Flipkart to launch a co-branded credit card aimed at enhancing affordability across Flipkart, Myntra, Shopsy, and Cleartrip.
E2E Networks: E2E won an ₹88.02 crore order from IndiaAI for the immediate supply of 1,024 H200 SXM GPUs to GAN AI, which is tasked with building India’s foundational AI model.
Newgen Software Technologies: Newgen bagged a ₹73.12 crore order for a customer’s scanning and digitization project.
Oil India & BPCL: Oil India and BPCL formed a joint venture to develop a city gas distribution network in Arunachal Pradesh, including CNG stations and PNG supply.
Power Grid Corporation: Power Grid won the bid to establish an interstate transmission system in Karnataka to integrate renewable energy at Davanagere under the BOOT model.
Lemon Tree Hotels: Lemon Tree signed a license agreement for a new resort in Pench, Maharashtra, to be managed by its subsidiary Carnation Hotels.
HFCL: Subsidiary HTL secured a ₹101.82 crore contract from the Indian Army to supply tactical optical fiber cables and accessories.
Himadri Speciality Chemical: Himadri earned ISCC PLUS certification, reinforcing its global standing in sustainable and traceable supply chains.
Rail Vikas Nigam: RVNL signed a joint venture with Texmaco Rail & Engineering to execute projects in railway and allied infrastructure, with 51:49 shareholding.
Dr. Agarwal’s Group: The boards of Dr. Agarwal’s Health Care and Dr. Agarwal’s Eye Hospital have approved a merger scheme to unify operations and improve efficiency.
Earnings Today
AJC Jewel Manufacturers and Prabhat Technologies (India)
Mainboard Listing
Mangal Electrical
Active IPOs
Vikran Engineering and Anlon Healthcare
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