Published on: April 3, 2025
Indian auto stocks tumbled on April 3 following the US government's decision to impose a 25% tariff on all imported automobiles and auto parts, triggering concerns over rising costs and reduced demand for Indian exports. The Nifty Auto index dropped 1.46% to an intraday low of 21,095 before recovering slightly.
Bharat Forge took the biggest hit, falling 6.1% to ₹1,082.55, followed by Balkrishna Industries (-4.48%) and Samvardhana Motherson International (-3.4%). Bajaj Auto and Tata Motors declined by 2.88% and 2.61%, respectively, while TVS Motor, Ashok Leyland, and Eicher Motors also recorded losses.
Analysts at Anand Rathi and Kotak Securities warned that the tariff could raise car prices in the US, leading to a decline in sales and margin pressures for Indian auto parts suppliers. The impact on Indian manufacturers will depend on how the US-India trade negotiations unfold in the coming months.
Despite the steep selloff, the Nifty Auto index showed signs of recovery, trading 0.54% lower at 21,293.65 by midday. Investors remain cautious as they assess the long-term implications of the tariff on the Indian automotive sector.
Published on: April 3, 2025
Indian metal stocks posted sharp losses on April 3 following US President Donald Trump’s announcement of reciprocal tariffs, raising concerns over global demand and potential disruptions to international trade. While the White House factsheet confirmed exemptions for steel, aluminum, and copper (pending further review), market uncertainty weighed on investor sentiment.
The Nifty Metal index declined nearly 1% to close at 9,005, marking its lowest level in 12 sessions. Vedanta was the top loser, plunging nearly 4%, while Hindalco and JSW Steel lost over 1% each. Other major metal stocks, including Tata Steel, Jindal Steel & Power, Hindustan Copper, and National Aluminium, also closed lower.
Experts warn that the tariff move could increase the dumping of cheap Chinese steel exports into India. Kotak Mahindra AMC MD Nilesh Shah emphasized the need for strategic negotiations with China to prevent adverse impacts on domestic steelmakers. Meanwhile, Amar Ambani of Yes Securities highlighted risks from exporters pivoting to India after US tariffs, potentially pressuring local prices.
Despite the overall decline, some stocks bucked the trend. Adani Enterprises and Welspun Corp gained over 1%, while Jindal Stainless Steel, NMDC, and APL Apollo Tubes also closed in positive territory. Market participants remain cautious about the possibility of new US tariffs on copper, which could further reshape global trade flows in the coming months.
Published on: April 3, 2025
Indian equity markets closed lower on Thursday as a sharp selloff in IT, auto, metal, and oil & gas stocks dragged benchmark indices down. The decline followed the US government's imposition of a 27% reciprocal tariff on Indian goods, raising concerns over export-driven sectors.
The Sensex fell 322 points (0.42%) to close at 76,295.36, while the Nifty slipped 82 points (0.35%) to end at 23,250. Despite losses in frontline indices, market breadth remained positive, with 2,463 stocks advancing against 1,033 declines.
IT stocks led the downfall, with the Nifty IT index plunging 4% intraday. Major tech firms like Infosys, TCS, and HCL Technologies were among the worst hit, as investors feared revenue pressures from macroeconomic uncertainties. Chemical stocks also faced selling pressure, with the sector now subject to a steep 27% US tariff, impacting export margins.
However, pharmaceutical and textile stocks provided some relief. The Nifty Pharma index gained 3% after the White House exempted Indian pharma exports from the tariff hike, driving up Sun Pharma, Lupin, and IPCA Labs. Textile stocks also surged as analysts predicted India's apparel exports could gain from softer tariffs compared to other Asian competitors.
Despite near-term volatility, analysts see India’s global trade position as resilient. Brokerage firm Bernstein highlighted that India could benefit from harsher tariff hikes imposed on other Asian economies, positioning itself for long-term growth despite current trade tensions.
Published on: April 3, 2025
Indian IT stocks faced a sharp decline on April 3 after US President Donald Trump announced reciprocal tariffs on 60 countries, including a 26% levy on Indian imports. While IT services were not directly impacted, investor sentiment soured, leading to a broad sell-off. The Nifty IT index has plunged 17% so far in 2025, with global tech stocks also under pressure as Nasdaq futures dropped over 3% before market open.
Midcap IT firms bore the brunt of the decline, with Persistent Systems and Coforge losing 9% and 6.5%, respectively, while Mphasis and KPIT Technologies slipped 4-5%. Oracle Financial suffered the most, plunging 40%, as broader uncertainty gripped the sector.
Although IT services are not explicitly targeted, a White House Annexure listed the tariff at 27%, raising concerns about potential trade restrictions or reduced outsourcing demand. JPMorgan sees value in beaten-down stocks like Coforge and Infosys but recommends avoiding large-cap names like TCS, Wipro, and HCLTech in the short term.
With TCS set to kick off Q4 earnings on April 10, investors will closely monitor management commentary on client spending and macroeconomic trends. Market sentiment remains fragile, and the outlook for Indian IT hinges on further clarity in US-India trade relations.
Published on: April 3, 2025
Indian stock markets fell sharply on Thursday after US President Donald Trump announced a 26% tariff on Indian imports, citing high tariff barriers on American goods. The Nifty 50 dropped 0.80% to 23,145.80, while the Sensex plunged 809.89 points to 75,807.55, dragged by declines in IT and auto stocks. Volatility spiked as the India VIX rose over 0.35% in early trading.
The US has imposed sweeping tariffs on multiple trade partners, with China facing a 34% levy, the European Union 20%, and Vietnam 46%. The new policy, which includes a 10% baseline tariff on all imports, takes effect from April 5, with higher tariff rates being implemented from April 9.
IT stocks bore the brunt of the selloff, with Nifty IT plunging nearly 4% to a nine-month low. HCL Technologies, Infosys, TCS, and Tech Mahindra all saw declines of around 3%. Auto stocks also suffered as the US imposed a 25% tariff on foreign automakers, hitting companies like Maruti Suzuki, Tata Motors, and Bajaj Auto.
Foreign institutional investors (FIIs) turned net sellers, offloading equities worth ₹1,538.88 crore, while domestic institutional investors (DIIs) remained net buyers for the fourth consecutive session. Global markets also reacted negatively, with Japan’s Nikkei 225 down 3.4%, South Korea’s Kospi falling 1.9%, and Hong Kong’s Hang Seng dropping 2.7%. The S&P 500 futures fell 3%, signaling further volatility ahead.
Published on: April 3, 2025
Indian IT stocks declined sharply on Thursday as the Nifty IT index dropped nearly 3% following US President Donald Trump’s announcement of sweeping reciprocal tariffs. Persistent Systems led the decline among Nifty IT stocks, plunging 9.15%, followed by Coforge (-6.8%) and Mphasis (-4.4%). Major IT firms like TCS, Infosys, and HCL Technologies also fell over 3%, while Wipro, Tech Mahindra, and LTIMindtree saw declines of over 2%.
The US remains the largest revenue market for Indian IT firms, contributing over 50% of the industry’s earnings. While the tariffs do not directly target IT services, analysts warn that a slowdown in global economic growth and rising uncertainty could impact technology spending, particularly in BFSI, automotive, and retail sectors.
Market experts believe that despite short-term challenges, Indian IT giants have historically adapted to economic downturns and trade tensions. Analysts continue to recommend stocks like TCS, Infosys, Tech Mahindra, and Coforge for long-term investors, as valuations have become more reasonable after recent corrections.
Published on: April 3, 2025
Bharti Airtel shares will be in the spotlight on Thursday after the telecom giant announced an expansion of its core network collaboration with Nokia to accelerate 5G service rollout. Nokia, which already plays a key role in Airtel’s core network with technologies like VoLTE and HSS, will now deploy its Packet Core and Fixed Wireless Access (FWA) solutions to enhance network efficiency and service delivery.
The integration of 4G and 5G into a unified infrastructure is expected to boost Airtel’s ability to launch new services quickly while reducing operational costs. Additionally, Nokia’s automation framework will enable zero-touch service deployment and efficient lifecycle management of network functions.
Airtel’s stock performance remains strong, with shares closing at ₹1,754.7 on Wednesday, up 2.1%. Analysts remain bullish, with an average target price of ₹1,872, indicating a 7% upside. The stock has gained 10% year-to-date and 134% over the past two years, with the company’s market capitalization crossing ₹10 lakh crore.
Published on: April 3, 2025
Citi and the State Bank of India (SBI) have introduced a $295 million social loan facility to provide financial support to India's small farmers. The loan, offered through Citi’s Trade & Working Capital Solutions, is designed to enhance agricultural productivity and income generation.
SBI will use the funds to bolster its Kisan Credit Card loan portfolio, ensuring that small and marginal farmers gain better access to credit. Mayank Gupta, Asia South head of Citi’s Trade and Working Capital Solutions, highlighted the innovative approach of the initiative, emphasizing its potential for social and economic impact.
Jayati Bansal, SBI’s deputy managing director (International Banking Group), reiterated SBI’s commitment to financial inclusion, stating that the partnership with Citi would help extend crucial credit resources to India's underserved farming communities.
Published on: April 3, 2025
J.P. Morgan has cautioned that the newly announced U.S. tariffs could push both the U.S. and global economies into recession. The tariffs, introduced by President Donald Trump on Liberation Day, include a minimum 10% duty on imports starting April 5, with sharper hikes on April 9.
China and other Asian economies face the steepest tariffs, while the European Union will be hit with a 20% levy. J.P. Morgan estimates that if fully implemented, the tariff increases could amount to $660 billion—roughly 2.2% of U.S. GDP—driving inflation up by nearly 2%.
While Canada and Mexico are spared additional tariffs, the broad-based hikes are expected to strain global trade and market sentiment. The investment bank warns that prolonged enforcement of these policies could severely disrupt the global economy, making the coming days critical in shaping the long-term impact of these tariffs.
Published on: April 2, 2025
India is set to lower import tariffs on electric vehicles (EVs) as part of its efforts to finalize a bilateral trade deal with the United States, despite lobbying from domestic automakers to delay such cuts until 2029, sources told Reuters.
Local manufacturers, including Tata Motors and Mahindra & Mahindra, have urged the government to phase in tariff reductions gradually, arguing that an immediate cut would harm their early investments in India's EV industry. However, officials have indicated that New Delhi is committed to significantly reducing duties, which currently range up to 100%, as part of broader trade negotiations with Washington.
The move is expected to benefit Tesla, which is preparing to enter the Indian market with showrooms in Mumbai and New Delhi. Former U.S. President Donald Trump has previously criticized India's high tariffs, calling it a "tariff king", and has been vocal about making EV sales easier for Tesla in the country.
On the other hand, domestic automakers fear this decision could set a precedent for similar tariff cuts in trade negotiations with the EU and UK, increasing competition in India's small but growing EV sector. In 2024, EVs accounted for just 2.5% of India's 4.3 million total car sales, with the government aiming to raise this figure to 30% by 2030.
While local carmakers are open to a phased duty reduction on gasoline models, they argue that their EV investments align with New Delhi’s incentive program, which runs until 2029. Allowing cheaper EV imports before then, they say, would hurt their competitiveness and disrupt industry growth.
Published on: April 2, 2025
Tata Consumer Products Ltd (TCPL) has received an income tax demand of ₹2,620.88 crore from the Assistant Commissioner of Income Tax, Kolkata, for the financial year 2021-22, as per a regulatory filing on April 1, 2025. The demand, issued under Section 143(3) of the Income-tax Act, includes interest on the outstanding amount.
Despite the tax notice, Tata Consumer stated that it intends to challenge the order, asserting that the demand is not maintainable. The company reassured investors that the issue is unlikely to impact its financials or business operations immediately.
In a significant move, Goldman Sachs upgraded Tata Consumer’s stock rating to "Buy" and raised the target price to ₹1,200 from ₹1,040, citing strong earnings growth potential from FY 2025-27. Factors driving the optimism include a recovery in tea margins, price hikes, expanding distribution, and lower interest costs due to debt repayment.
As of 11:52 AM, Tata Consumer shares surged 7.20% to ₹1,063.70 on the NSE, reflecting strong investor confidence despite the tax challenge. Goldman Sachs also noted that while competition in the FMCG sector remains intense, Tata Consumer is well-positioned for growth, indicating that "the worst is likely behind" the company.
Published on: April 2, 2025
State-owned Coal India Ltd (CIL) is exploring lithium blocks in Australia and Argentina as part of its diversification strategy, Chairman P M Prasad announced at the 11th Asian Mining Congress on Wednesday. This move aligns with global trends prioritizing critical minerals for clean energy technologies, reducing reliance on coal.
For FY26, CIL has set a production target of 875 million tonnes (MT) and an offtake target of 900 MT. The company, which contributes over 80% of India's domestic coal production, produced 781 MT in FY25, 7% short of its annual target.
Prasad also noted that the ₹10 per tonne coal price hike effective April 16 will have a minor impact on revenue. Meanwhile, CIL's pithead stock as of March 31, 2025, stood at 106 MT, marking the highest level ever recorded.
Published on: April 2, 2025
Coal India shares are expected to remain in focus after the company announced a ₹10 per tonne price hike for both coking and non-coking coal, effective April 16. The board approved the increase across regulated and non-regulated sectors to contribute to the CMPS-1998 corpus.
Despite producing 781.1 million tonnes (MT) of coal in FY25—7% below its 838 MT target—the company posted a marginal 1% year-on-year production growth. However, March 2025 production declined 3.1% to 85.8 MT from 88.6 MT in March 2024.
Analysts maintain a ‘Buy’ rating on Coal India, with an average target price of ₹464, reflecting a 17% upside. The stock’s Relative Strength Index (RSI) of 60.5 indicates bullish momentum, while its MACD at 6.2 supports further upside.
Technically, the stock is trading above its 5-day, 20-day, 30-day, 50-day, and 100-day SMAs but remains below the 10-day, 150-day, and 200-day SMAs.
On Tuesday, Coal India closed at ₹398.1 on BSE, down 0.1%, mirroring the 1.8% decline in Sensex. The stock has lost 21% in the past six months but has gained 86% over two years, with a market capitalization of ₹2,45,338 crore.
Published on: April 2, 2025
Indian stock markets opened the new fiscal year with a sharp decline as fears over US reciprocal tariffs dampened investor sentiment. The Sensex plunged 1,390.41 points (1.80%) to close at 76,024.51, while the Nifty50 tumbled 353.65 points (1.50%) to settle at 23,165.70.
Ahead of the April 2 trading session, key stocks in focus include:
Tata Steel: Increased stake in IFQM to 16.66%.
Power Grid Corporation: Board to discuss fund-raising via NCDs on April 4.
Coal India: Raised coal prices by Rs 10 per tonne, effective April 16.
Shriram Finance: RBI approved acquisition of 100% stake in Shriram Overseas Investments.
Tata Consumer Products & Polycab India: Facing tax demands from IT Department.
NMDC: Iron ore production fell 27% YoY in March 2025.
JSW Energy: Added 3.6 GW capacity in FY25, surpassing targets.
SJVN Green Energy: Completed trial run of 241.77 MW in Bikaner Solar Project.
Investors will closely watch global cues, US tariff announcements, and corporate developments in the upcoming sessions.
Published on: April 2, 2025
Indian equity markets ended higher on April 2, snapping a two-day losing streak, as banking and IT stocks led the rally. The Sensex surged 592.93 points to close at 76,617.44, while the Nifty gained 166.65 points to settle at 23,332.35.
All sectoral indices ended in the green, with FMCG, Consumer Durables, and Realty rising 1-3%. Tata Consumer Products, Zomato, Titan, IndusInd Bank, and Maruti Suzuki were the top Nifty gainers, while Bharat Electronics, UltraTech Cement, Nestle India, Power Grid, and Larsen & Toubro lagged.
Market breadth was positive, with 2,496 stocks advancing against 979 declines. Investors will now focus on global cues, including US tariffs and upcoming economic data, to gauge market direction.