U.S. President Donald Trump’s move to impose a 25% tariff on India, along with added trade penalties on Russia, is expected to spark a sell-off in the domestic market. Meanwhile, the Indian government has stated it will continue talks with Washington and will not respond with retaliatory tariffs.
The Indian benchmark equity indices opened the session with a strong downward trend. Today’s market is dragged down by share prices of Hero MotoCorp, Bajaj Auto, and Apollo Hospitals Enterprise. The NSE Nifty 50 opened 212.80 points or 0.86% down at 24,642.25, while the BSE Sensex opened 786.36 points, or 0.97% down at 80,695.50.
Global Markets
U.S. stocks declined on Wednesday after the Federal Reserve kept interest rates unchanged. Chair Jerome Powell stated that no decision has been made regarding a possible rate cut in September, despite the central bank lowering its economic outlook.
- The S&P 500 Index closed down 7.96 points, or 0.12%, at 6,362.90.
- The Dow Jones Industrial Average closed down 171.71 points, or 0.38%, at 44,461.28.
- The FTSE 100 closed up 0.62 points, or 0.007%, at 9,136.94.
- DAX closed up 44.85 points, or 0.19%, at 24,262.22.
Asian Indexes
Asian shares edged lower on Thursday, with South Korean equities volatile after a U.S. trade deal was reached. Japan’s Nikkei index gained slightly as investors awaited the Bank of Japan’s rate decision. Global trade uncertainties and anticipation of monetary policy updates influenced cautious market sentiment across the region.
- Nikkei up 0.90%
- Hang Seng down 1.10%
- Kospi down 0.20%
Commodities Market
- WTI crude is trading at $69.97, down 0.05% for the day.
- Brent crude is at $72.38, down 0.12%.
- Gold is up 0.29% and now trading at Rs. 9,979 per gram.
- Silver is down 0.75% and now trading at Rs. 1,13,800 per kg.
- Copper is up 0.08% and now trading at Rs. 892.75 per kg.
Results to Watch – July 31
Major companies announcing results today include Coal India, Maruti Suzuki, Sun Pharma, HUL, Dabur, Eicher Motors, Vedanta, and Adani Enterprises. Other notable names: TVS Motor, Ambuja Cements, JSW Energy, Mankind Pharma, Swiggy, Cholamandalam Investment, Emami, Radico Khaitan, Sanofi India, PB Fintech, Thermax, and Wonderla Holidays, among others.
Stock to Watch
- Tata Motors: Will acquire Italy-based Iveco S.p.A. in an all-cash deal worth €3.82 billion (Rs 33,360 crore). The acquisition includes 27.2 crore shares at €14.10 each, forming a new global commercial vehicle group.
- Bharat Forge: To set up a modern ring mill dedicated to aerospace applications. This follows a contract with Pratt & Whitney, boosting its aerospace manufacturing expansion.
- LTIMindtree: Partnered with Adobe to launch BlueVerse CraftStudio. The platform leverages Adobe’s AI tools to streamline marketing and drive digital growth.
- eMudhra: eMudhra’s subsidiary has completed the acquisition of U.S.-based AI Cyberforge Inc. This strengthens the company’s global cybersecurity and digital identity portfolio.
- Reliance Industries: Reliance shareholders approved Anant Ambani’s appointment as whole-time director. The resolution was passed with a majority vote in favour.
- Axis Bank: Axis Bank partnered with Antara Psychiatric Hospital to launch the Institute of Health Sciences. The initiative will support mental health and wellness education.
- IDBI Bank: TN Manoharan, IDBI Bank’s independent director and part-time chairman, has passed away. He served on the board during key phases of the bank’s transformation.
- RITES: RITES signed an MoU with NABCONS to jointly develop rural and infrastructure projects. The partnership will focus on initiatives both in India and internationally.
- Orchid Pharma: Set to acquire assets of Allecra Therapeutics through an agreement with its insolvency administrator. This move supports its strategy to strengthen its global drug pipeline.
- NHPC: NHPC’s board has approved raising up to Rs 2,000 crore via unsecured bonds.
- The funds will be raised through private placement to support future projects.
- Premier Explosives: Premier Explosives secured an order worth Rs 22.5 crore for rocket motor supply. The contract highlights its growing role in the defence sector.
- Clean Science: Clean Science will invest Rs 70 crore in its subsidiary, Clean Fino-Chem. The move aims to expand its speciality chemicals business.
- Jio Financial: Jio Financial’s promoter group will infuse Rs 15,825 crore by subscribing to 50 crore warrants. This will increase promoter holding from 47.12% to 54.19%.
- JSW Steel: The Supreme Court allowed the listing of JSW Steel’s review plea on Bhushan Power & Steel in open court. This paves the way for oral arguments in the resolution plan case.
- Tata Investment: The board will consider a stock split on August 4. The proposal aims to improve stock liquidity and investor participation.
- HEG: HEG’s board approved a Rs 650 crore expansion to boost graphite electrode capacity by 15,000 TPA. The project will be completed in 30 months using internal accruals and possible debt.
- Aurobindo Pharma: Aurobindo Pharma USA will acquire Lannett Company LLC for $250 million (Rs 2,185 crore). This acquisition enhances its presence in the U.S. pharmaceutical market.
- IRFC: IRFC has secured a $300 million external commercial borrowing from Sumitomo Mitsui Bank. The five-year loan will be routed through Gift City.
- Waaree Renewable: company has received a revised scope of work for its 2,012.47 MWp solar PV project. The project continues under an existing EPC contract.
- Gujarat Gas: Gujarat Gas has cut industrial gas prices by Rs 3.25 per SCM to Rs 52.23 per SCM. The new rate is effective from August 1, as per CNBC-TV18.
- Share India Securities: Share India Securities has approved a corporate development.
- Further details have not yet been disclosed publicly.
Bulk Deal
- Awfis Space Solutions: VBAP Holdings offloaded 7.6 lakh shares of Awfis Space Solutions at Rs 595.13 each, amounting to a total transaction value of Rs 45.2 crore.
Written By Fazal Ul Vahab C
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