Profit & Loss
Several major companies reported their Q1 results. Hero MotoCorp saw a 65% jump in profit to Rs 1705.65 Cr, while Trent's profit rose 8.6% to Rs 424.7
Cr. BHEL, however, reported a widening loss of Rs 455 Cr. Bajaj Holdings saw its profit double to Rs 3,487 Cr. Fortis Healthcare's Q1 profit jumped 57% and Steel Exchange India's profit also soared in the June quarter.
Tariff Troubles Brew
US tariffs, particularly those imposed by the Trump administration, have cast a shadow over India's exports. Trump's move to slap a 50% tariff on Indian goods and double tariffs for Russian oil imports has caused concern. Officials anticipate a cut-off in exports, prompting discussions about the impact on India's inflation and need for trade diversification.
RBI & Policy Moves
The Reserve Bank of India (RBI) decided to hold rates amidst uncertainties. The RBI also revised co-lending directions for banks and NBFCs. Furthermore, the government revoked uniform tariffs in renewable energy, and dissolved pools. Meanwhile, SC has set a deadline for Delhi Discom power dues and the PM Surya Ghar scheme benefited 16.5 lakh households.
Market & IPO Updates
The stock market showed mixed signals, with the Sensex falling due to the RBI's decision and IT stocks dropping. IPOs saw varying levels of interest: Highway Infra IPO was subscribed 73x, while All Time Plastics raised Rs 120 Cr from anchor investors. JSW Cement raised Rs 1,080 Cr from anchor investors. Knowledge Realty Trust REIT IPO was subscribed 3.4x.
E-commerce & More
FIEO and Amazon partnered to boost e-commerce exports. Kalyan Jewellers is expanding through franchising, aiming for debt reduction. Air India launched a mental well-being app for its crew. Other developments include iServeU and Central Bank of India's deal, along with the inauguration of Nepal Mobility Expo 2025.
