Third quarter earnings reports are being released, with key companies like Varun Beverages, Nykaa, Grasim, Eicher Motors, and Apollo Hospitals showing notable performance. Nykaa's revenue growth is projected at 27%, while Grasim Industries is expected to see a 23-30% revenue increase. Analysts will focus on industry trends and competitive landscapes.
Speaking to reporters on Air Force One, Trump said he would announce on Monday 25% tariffs on all steel and aluminium imports into the U.S., and reveal other reciprocal tariffs on Tuesday or Wednesday.
What hasn't changed is Trump's strategy of pledging aggressive levies on trading partners and then quickly backtracking, either delaying them or canceling them completely. What has changed is basically everything else.
Index has been consolidating between 23,400 and 23,800 zones from the last four trading sessions with a hurdle near the 50-day exponential moving average, and now requires a hold of 23,333 zones with follow-up action to commence the next leg of rally towards 24,120 levels.
Trent shares tumbled 8.3% on Thursday after its third quarter results, but regained some of the losses on Friday, rising 3.1% to close at 5,440. So far this year, Trent has plunged over 23.3% while Nifty declined 0.34% in the same period.
The government is meticulously watching banks to ensure the transmission of the recent RBI rate cut to borrowers, as officials warn that insufficient rate cuts would be addressed. The RBI's quarter-percentage-point cut aims to reduce borrowing costs, but historical precedents show mixed transmission effectiveness.
President Donald Trump said he will announce on Monday that the United States will impose 25% tariffs on all steel and aluminum imports, including from Canada and Mexico, as well as other import duties later in the week.
