Bad news for Mukesh Ambani as Trump's tariff hit shares of this company, falls to Rs 18, company is...
Trump Tariffs: In a major setback for billionaire Mukesh Ambani, the shares of Alok Industries Limited– a company backed by Ambani's Reliance Industries, tumbled by more than 4%, hitting an intraday low Rs 18.64 apiece on Thursday. According market analysts, the steep fall in Alok Industries' share prices is the direct result of the latest round of tariffs imposed by US President Donald Trump on Indian imports.
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The Hindu
5 minutes ago
- The Hindu
The Hindu Morning Digest, August 7, 2025
Trump non-committal on whether extra India tariffs will go with Russia-Ukraine ceasefire U.S. President Donald Trump did not confirm whether the additional 25% tariffs he had announced on Wednesday (August 6, 2025), on Indian exports to the U.S., for New Delhi's trade in arms and energy with Moscow, would be cancelled if Russia and Ukraine agreed to a ceasefire. East Asia to be next focus of India's major diplomatic outreach Against the backdrop of growing uncertainty in India-U.S. ties, Prime Minister Narendra Modi is expected to reach out to East Asia in the coming weeks. As part of the initiative, Mr. Modi is likely to travel to Japan to meet his Japanese counterpart, Shigeru Ishiba, by the end of August. The visit to Japan is significant, as both countries are part of the Quad initiative that was launched by Australia, India, Japan, and the United States in 2017. Trump's imposition of 50% tariff is economic blackmail to secure unfair trade deal: Rahul Gandhi The Leader of the Opposition in the Lok Sabha, Rahul Gandhi, on Wednesday said the second round of 25% tariff imposed on India was an 'economic blackmail' aimed at securing an unfair trade deal. In a post on X, Mr. Gandhi said Prime Minister Narendra Modi should not let his 'weakness' override the interests of the Indian people. Donald Trump plans to meet Putin, Zelenskyy as soon as next week, NYT reports U.S. President Donald Trump plans to meet in person with Russian President Vladimir Putin as early as next week, the New York Times reported on Wednesday (August 6, 2025), citing two people familiar with the plan. Mr. Trump then plans to meet with Ukrainian President Volodymyr Zelenskyy, the newspaper reported, adding that the plans were disclosed in a call with European leaders on Wednesday. NSA Ajit Doval to hold talks with Russian officials in Moscow National Security Adviser Ajit Doval will hold meetings with senior Russian officials in Moscow on Thursday, just a day after the U.S. decided to impose an additional 25% penalty tariffs on India for its import of Russian oil. According to sources, Mr. Doval's visit is intended to prepare details for Russian President Vladimir Putin's visit to Delhi later this year. All Indians should work together to make India the world's third largest economy: PM Modi Prime Minister Narendra Modi said on Wednesday urged all stakeholders to work together to make India the world's third largest economy and scale up national productivity. Addressing the Kartavya Bhavan inauguration programme in the national capital, Mr. Modi encouraged all Indians to contribute to the success stories of government initiatives such as Make in India and Atmanirbhar Bharat. Strengthening India's capabilities must become a shared pursuit and personal mission, he said. Soldier opens fire at U.S. military base, wounding five troops A soldier opened fire at a U.S. base in the southern State of Georgia on Wednesday (August 6, 2025), wounding five fellow troops before he was tackled and apprehended, a senior officer said. Fort Stewart, a large Army base that is home to thousands of soldiers and their relatives, went into lockdown as emergency personnel raced to respond to the 'active shooter' situation, with troops stepping in to help stop the violence. A.G. Noorani, Arundhati Roy's books among 25 'forfeited' by J&K Home Department The Jammu & Kashmir Home Department on Wednesday (August 6, 2025) declared 25 books, many by prominent writers such as A.G. Noorani, Sumantra Bose, Arundhati Roy and Ayesha Jalal, as 'forfeited for propagating false narrative and secessionism' in J&K. Petrol lobbies behind E20 fuel fear campaign: Nitin Gadkari Tests show that older vehicles are not damaged in any way by using a new petrol blend with a higher 20% of ethanol, Minister for Road Transport and Highways Nitin Gadkari said on Wednesday (August 6, 2025), blaming the social media outrage against the new E20 blend on a 'political conspiracy', possibly fuelled by petrol lobbies.. R.G. Kar victim's family to meet CBI Director, Home Minister Ahead of a mega rally on August 9 to mark one year of the horrific crime, parents of the doctor who was raped at killed at Kolkata's R.G. Kar Hospital, on Wednesday (August 6, 2025) left for Delhi. The parents said that they will meet the Director of Central Bureau of Investigation (CBI) during their visit to Delhi. They also said that they are willing to meet Home Minister Amit Shah if they can secure an appointment.
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Business Standard
5 minutes ago
- Business Standard
Tariff hike similar to trade embargo; INR immediate casualty: Mahesh Patil
US President Donald Trump signed an executive order on Wednesday imposing an additional 25 per cent tariff on goods imported from India. The decision comes on the heels of India's continuing to purchase Russian oil as a violation of sanctions and a threat to US foreign policy, reports suggest. In a statement released by the White House on Wednesday, the US administration said the decision is a direct response to India's 'direct or indirect' import of Russian crude. 'The Government of India is currently directly or indirectly importing Russian Federation oil,' the order noted, adding that such imports undermine efforts to isolate Russia amid its ongoing conflict with Ukraine. READ ABOUT IT HERE The new rate will be effective after 21 days and raises announced US tariffs on India to a steep 50 per cent. Similar to the reciprocal tariffs, the penalty excludes products under Section 232 investigation, and will raise the US effective tariff rate on India to 33.8 per cent, from 18.8 per cent previously. Note that pharma and electronics exports (~30 per cent of India's US exports) are currently exempt. If effective, the steep 50 per cent tariff would be similar to a trade embargo, and will lead to sharp fall in affected export products, especially ones with thinner margins (textiles, gem & jewellery). We had earlier expected a downside risk of nearly 20bp (basis points) to FY26 GDP (gross domestic product). If these tariffs materialise, then the hit could be higher, depending on their duration. A key question is how India's government will respond to President Trump's pressure tactic. The first priority is supporting exporters. On Russia links, the government has so far taken a defiant stance on its oil imports from Russia. The government could look to negotiate with the US, utilising the 21-day reprieve and the upcoming trip of the US trade negotiators The immediate casualty is rupee, which will take the brunt and this will provide some respite for exporters. Counter intuitively, fall in InR (once it stabilises) is positive for local earnings and hence equities benefit with a lag. More importantly, we are now par with Brazil, that provides a blueprint- it saw a 6-7 per cent fall from peak before recovering in local terms. Again, whether we will only have a shallow correction or a meaningful one remains to be seen, but for now we have seen worst of tariff news flow. And in a few months, rates will settle down to more acceptable levels. Any knee jerk correction in the market would be a good opportunity for increasing allocation to equity as the macro and the long term fundamentals of India are fairly strong.
Mint
5 minutes ago
- Mint
Best stock recommendations today—from MarketSmith India for 7 August
Indian equity indices extended losses for a second straight session on 6 August, with Nifty closing below 24,600. Sensex ended 166.26 points lower, or 0.21%, at 80,543.99, while Nifty declined 75.35 points, or 0.31%, to settle at 24,574.20. After a flat opening, Nifty traded in a narrow range throughout the day and closed near the day's low. Market participants largely stayed on the sidelines ahead of the RBI's Monetary Policy Committee (MPC) decision. As anticipated, the central bank kept the policy rate unchanged and maintained a neutral stance, leading to a muted reaction across the market. MarketSmith India's best stock recommendations for today—7 August Nifty 50: How the benchmark index performed on 6 August Nifty 50 ended the session on a cautious note, reflecting investor anxiety ahead of the RBI policy announcement and global trade tensions triggered by a fresh tariff warning from US President Donald Trump. The index traded in a narrow range, with muted movement across most sectors, as traders awaited clarity on interest rate direction and inflation outlook. Technically, it formed a small-bodied candle, indicating indecision, and hovered near its key support levels. Broader market participation remained subdued, with the advance-decline ratio tilted slightly in favour of decliners, suggesting underlying weakness. Select PSU and FMCG stocks showed resilience, while IT and Auto names faced mild profit booking. Technically, Nifty 50 continues to find support at its 100-EMA, providing short-term stability. The RSI has been moving sideways and is currently positioned at 38, indicating a lack of momentum. Additionally, the MACD remains in a negative crossover, trading below both its signal line and the zero axis. This combination of indicators suggests a cautious near-term outlook, with momentum still subdued. A strong reversal seems unlikely unless the index decisively breaks through key resistance levels, accompanied by sustained buying pressure. According to O'Neil's methodology of market direction, market status has been downgraded to an 'Uptrend Under Pressure' as Nifty breached its 50-DMA and the 'distribution day count' rose to seven. Nifty 50 continues to trade in a consolidation phase, closing below its 100-day EMA and fluctuating within 24,500-24,800. A sustained move above 24,900 could indicate a bullish breakout, potentially paving the way for an upward move toward 25,300. On the downside, immediate support is seen in 24,480-24,400, where buyers may step in. However, a decisive break below this support could trigger a deeper correction, with the index likely to test 24,200. Price action around these key levels will be crucial in determining the index's short-term direction. How did Nifty Bank perform? On Wednesday, Bank Nifty opened slightly lower at 55,329.80, registering a modest gap-down from the previous close of 55,360.25 amid cautious sentiment. The session remained volatile, with the index swinging between an intraday high of 55,559.40 and a low of 55,227.70, marking a range of nearly 332 points. Despite early weakness, Bank Nifty staged a recovery and settled at 55,411.15, gaining 50.90 points, or 0.09%, on the day. The formation of a small bullish candle on the daily chart reflects buying interest at lower levels, supported by strength in stocks like CANBK, FEDERALBNK, SBIN, and HDFCBANK. The momentum indicator RSI continues to trend sideways and is currently positioned at 37, indicating weakening strength and limited upside traction. Additionally, the MACD has formed a negative crossover, reinforcing the short-term bearish bias. According to O'Neil's methodology of market direction, Bank Nifty is in an 'Uptrend Under Pressure', highlighting a fragile market environment. This classification underscores increasing caution and early signs of institutional distribution, suggesting elevated risk in the near-term outlook. Bank Nifty closed on a positive note. Meanwhile, the index successfully defended the previous session's low, reflecting signs of resilience. A potential reversal from the current levels could propel the index toward 56,400-56,450, where its 50-DMA is positioned. Sustained buying interest above this range may reinforce upward momentum. However, failure to hold the critical support at 55,200 could trigger a corrective move, with the index likely to retest its 100-DMA—about 646 points below the current level—indicating heightened downside risk. MarketSmith India is a stock research platform and advisory service focused on the Indian stock market. Trade name: William O'Neil India Pvt. Ltd. (Sebi Registered Research Analyst Registration No.: INH000015543). Investments in securities are subject to market risks. Read all the related documents carefully before investing. Registration granted by Sebi and certification from NISM in no way guarantees performance of the intermediary or provide any assurance of returns to investors. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.
