U.S. President Donald Trump has looked down upon India’s decision to add higher tariffs on a slew of American goods, days before his trade officials are scheduled to start talks with their counterparts in the South Asian country.
President Trump said, “India has long had a field day putting tariffs on American products. No longer acceptable!”
Trump and Prime Minister Narendra Modi had agreed to restart trade talks after they met at the Group of 20 summits in Japan.
A team from the Office of the U.S. Trade Representative is scheduled to visit New Delhi later this week for talks stalled earlier over tariffs and revoked trade preferences for India. The U.S. is also challenging India’s retaliatory tariffs in a new case at the World Trade Organization.
India imposed higher tariffs on almost 30 American products in response to Trump’s decision on June 1 to end trade concessions on $6.3 billion of Indian goods shipped to the U.S. India had repeatedly deferred imposing the new tariffs after announcing them last year as it kept the door open for talks to avert a trade war.
Read EquityPandit’s Technical Analysis For Nifty
Stocks Under F&O Ban:
Under the futures and options (F&O) segment, no stocks were banned from trade on Monday, 28 April, by the National Stock Exchange (NSE).
Derivative contracts of these stocks were banned as the open market interest for these securities has crossed 95% of the market-wide position limit (MWPL) set by the exchanges. The MWPL is the maximum number of contracts that can be opened at any particular time.
The ban will be lifted once the position falls below 80%. Traders will get penalised for buying or selling these securities. They will be available for trading in the cash market.
The National Stock Exchange updates the list of securities on the F&O ban list daily. This list serves as a guide for traders and investors in the market. Traders who trade in indices do not encounter a situation of security ban.
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Stocks in Focus: Mahindra and Mahindra, Hindustan Unilever, Reliance Industries, and Others
The GIFT Nifty futures, which is an early indicator of the Nifty50 index, was trading 0.56% higher by 128 points at 24,267, indicating that the domestic benchmark indices are likely to make a positive start on Monday.
On Friday, 25 April, Domestic benchmark indices S&P BSE Sensex slumped by 588.90 points or 0.74% and settled at 79,212.53 while the Nifty50 traded 0.86% lower by 207.35 points, settling at 24,039.35.
Here are some stocks that are likely to remain in focus on 28 April.
Quarterly Results Today: UltraTech Cement, Aditya Birla Sun Life AMC, CSB Bank, Hexaware, IDBI Bank, Adani Green Energy, Adani Total Gas, IRFC, Oberoi Realty, PNB Housing Finance, Central Bank of India, Fino Payments Bank, TVS Motor Company, Castrol India, Firstsource Solutions, Go Digit General Insurance, Indegene, KFin Technologies, KPIT Technologies, Greenply Industries, IIFL Capital Services, UCO Bank, and Nippon Life India Asset Management are some of the prominent companies set to announce their quarterly earnings for January-March.
Mahindra and Mahindra: The company has announced its plans to acquire a 58.96% stake in SML Isuzu for a total consideration of Rs 555 crore, aiming at strengthening its position in the commercial vehicle segment.
Hindustan Unilever: HUL is gearing up to revitalise its Rs 15,294-crore foods division, its second-largest business segment. The company is now prioritising sales growth over margin expansion. Additionally, HUL is advancing plans to list its Rs 1,800-crore ice cream business, with the listing anticipated to be completed by FY26.
Reliance Industries: In its quarterly earnings for January-March, the company reported a 9% year-on-year (YoY) increase in net profit to Rs 2.61 lakh crore for the quarter under review.
IREDA: The Indian Renewable Energy Development Agency (IREDA) has launched an internal review concerning its exposure to Gensol Engineering, following a complaint filed with the Economic Offences Wing (EoW) over the submission of falsified documents. While Gensol’s account has been marked as “under stress,” it has not yet been categorised as a non-performing asset (NPA).
IRFC: Indian Railway Finance Corporation (IRFC) has emerged as the lowest bidder for a Rs 5,000 crore term loan intended for National Thermal Power Corporation (NTPC). The funds will support NTPC’s ongoing and upcoming capacity expansion projects, including those in the renewable energy sector. The finalisation of the loan is subject to approval by NTPC’s Board.
Force Motors: The company reported a stellar 210% YoY increase in net profit for the quarter ended 31 March to Rs 434.7 crore, while its revenue during the same period grew by 17.1% to Rs 2,356 crore.
RailTel Corp: The company announced that it would secure a work order worth Rs 90.08 crore for the design, development, supply, implementation, operations, and maintenance of the Enterprise Resource Planning system from the Institute of Road Transport.
Zydus Lifesciences: The company has received 6 observations from the US Food and Drugs Administration (USFDA) for its API unit in Dabhasa, Gujarat,t after they conducted an inspection between 21 April and 25 April.
GAIL India: The company has announced that it is inking a Memorandum of Understanding (MoU) with the Container Corporation of India to explore the adaptation of liquefied natural gas along with other fuels in the logistics sector.
NRB Bearings: The company has announced its plans to invest Rs 200 crore in expanding and upgrading its manufacturing capabilities and research and development over a period of two years. The Capex will focus on enhancing its capabilities for needle roller bearings, cylindrical roller bearings, taper roller bearings, and thrust and combination bearings.
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Maruti Suzuki Shares Slip 2% on Weak Q4 Earnings
Shares of Maruti Suzuki Ltd were trading in the red and 2% lower on Friday, 25 April, after the company announced its quarterly earnings for January-March.
The automobile company reported a 4.3% year-on-year (YoY) decline in net profit to Rs 3,711 crore for the quarter under review compared to Rs 3,879 crore reported in the same quarter of the previous fiscal year.
However, Maruti Suzuki’s operating revenue increased by 6.4% to Rs 40,674 crore in the March quarter, up from Rs 38,235 crore the previous year.
On the operating front, the earnings before interest, tax, depreciation, and amortisation (EBITDA) fell 9% year on year to Rs 4,264 crore from Rs 4,685 crore the year before. The EBITDA margin contracted by 150 basis points to 10.5% in Q4 FY25 from 12.3% in Q4 FY24.
The largest four-wheeler manufacturer in India has also announced a final dividend of Rs 135 per share for the fiscal year 2024–2025.
During the fiscal year, the manufacturer also achieved its biggest yearly total sales and exports to date. “The company continued to be the top exporter for the 4th consecutive year, now contributing nearly 43% of total passenger vehicle exports from India,” it said in an exchange filing. The company sold 604,635 units in Q4, the most in any quarter.
The company’s domestic sales increased by 2.8%, while exports increased by 8.1%, for an overall gain of 3.5%. Meanwhile, the automaker’s domestic sales were 519,546 units, with 85,089 units exported.
Maruti Suzuki reported that domestic market growth was fairly subdued in FY25. “For the Company, a modest domestic sales growth of 2.7% was compensated by a healthy 17.5% export growth leading to an aggregate growth of 4.6% for the year,” it added.
At 3:30 pm, the shares of Maruti Suzuki closed 2.05% lower at Rs 11,650 on NSE.
Wondering About Maruti Suzuki Ltd? The Analyst Has Answers.
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Mahindra & Mahindra and Tata Motors Shares Slump as China Halts Supply
Shares of Tata Motors Ltd and Mahindra & Mahindra Ltd lost early gains on Friday, 25 April, after China had halted supplying rare earth magnets to India.
According to industry sources, the migration from China is causing manufacturing issues for Indian EVs and component makers. As a result of this decision, vehicle and component makers have asked the government for assistance.
According to sources, China has restricted the supply of rare earth magnets to India since 4 April and is now requesting end-user certifications before releasing any officially authorized rare earth magnet shipments.
The neighbouring country has also specified that importers must obtain end-user certificates signed by both India’s foreign ministry and the Chinese consulate. Importers must also affirm that the rare earth magnets will not be utilized to manufacture weapons or distributed to third parties.
Rare earth magnets play an important role in traction motors and other components of electric vehicles and cars.
At the conclusion of the third quarter, Tata Motors had seen a 23% increase in EV registrations, owing to new offerings that fueled growth.
At 12:51 pm, the shares of Tata Motors were trading 1.62% lower at Rs 657.50, and shares of Mahindra & Mahindra were trading 1.33% lower at RS 2,862.90 on NSE.
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Patel Engineering Shares Soar 5% on Bagging Rs 2,036 Crore Projects
Shares of Patel Engineering Ltd soared 5% on 25 April after the company announced that they have emerged as the lowest bidder (L1) for projects valued at Rs 2,036.89 crore.
NEEPCO has designated a Mumbai-based infrastructure business as L1 for a Rs 718 crore (including tax) contract for the 240 megawatt (MW) HEO Hydroelectric Project in Arunachal Pradesh.
The project, which is estimated to generate 1,000 million units (MU) of electricity per year, intends to boost the state’s power supply while also contributing to national grid balancing.
The project is located in Arunachal Pradesh’s Shi Yomi district and is expected to be completed within 44 months.
The scope of work for the 240 MW HEO Hydropower project includes civil and related infrastructure construction, hydro-mechanical equipment testing and commissioning, and ensuring that all generating units operate and perform properly.
In addition, the company was designated the lowest bidder for CIDCO’s Rs 1,318.89 crore contract for the “construction of Kondhane Dam and its allied works” using Roller Compacted Concrete Technology. The project is located in the state of Maharashtra, Village – Kondhane, Taluka – Karjat, District – Raigad, and will be completed in 42 months.
The scope of work comprises civil works for the dam’s construction, which measures 1209m in length and 83m in height, as well as hydro-mechanical and electrical work, such as three radial gates, electrical and manual gate control, and other electrification work.
At 11:44 am, the shares of Patel Engineering were trading 0.09% higher at Rs 44.47 on NSE.
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