Dr Reddy's Laboratories Q1 Results: Pharma major Dr. Reddy's Laboratories reported a marginal 2% year-on-year (YoY) growth in its consolidated net profit at Rs 1,418 crore for the first quarter ended June. Revenue from operations rose 11% YoY to Rs 8,545 crore.
Cuts outlined in President Donald Trumps proposed 2026 budget mean some groups stand to lose federal funds that support services like testing and HIV treatment.
European stock markets saw gains, especially in the automobile sector. This followed positive signals from US President Donald Trump regarding potential trade agreements with the European Union. The optimism was fueled by a trade deal with Japan. Porsche and Mercedes-Benz stocks performed well. Lonza shares also increased after a profit forecast. However, ASM International and SAP experienced declines.
Japanese auto stocks surged, leading the Nikkei to a one-year high after a U.S. trade deal reduced import levies to 15%. Toyota soared 14%. Trade clarity bolstered expectations for Bank of Japan rate hikes, pushing JGB yields to levels unseen since 2008.
Chakri Lokapriya discusses the impact of tariffs on various sectors, including capital markets, wires and cables, pharma, and IT. Retail brokerage margins are expected to decline, while the wires and cables segment hinges on economic revival and tariff clarity. Despite pharma's underperformance, potential buying opportunities exist, and IT sector growth depends on deal conversion and tariff resolution.
China's commerce minister has expressed strong objections to the EU's decision to include two Chinese banks in its latest round of sanctions against Russia, following Moscow's actions in Ukraine. This development occurred ahead of crucial talks in Beijing between EU leaders and top Chinese officials, where trade and the Ukraine war are set to dominate discussions.
