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All 'taarif', no gain: Congress mocks PM Modi as Trump slaps 25% tariff
Congress general secretary Jairam Ramesh mocked the bond between PM Modi and Trump. In a post on X, he wrote: 'President Trump has slapped a tariff of 25 per cent plus penalty on imports from India. All that 'taarif' between him and 'Howdy Modi' has meant little.'
He accused PM Modi of staying silent in the past despite several provocations by the US, including Trump's controversial remarks on India, and claimed it was a strategy that had clearly failed.
"Mr Modi thought that if he kept quiet on the insults that the US President has hurled on India -- the 30 claims of stopping Op Sindoor, the special lunch for the Pakistan Army Chief whose inflammatory remarks provided the immediate backdrop to the brutal Pahalgam terror attacks, and US support for financial packages to Pakistan from the IMF and the World Bank -- India would get special treatment at the hands of President Trump. Clearly that has NOT happened," Ramesh said. He added: "He should take inspiration from Indira Gandhi and stand up to the US President."
Congress MPs call for firm response
Congress MP Mallu Ravi said that Trump was threatening the Indian government and imposing unjust duties. He said that the 25 per cent tariff was "not acceptable to India". Another Congress MP, Chamala Kiran Kumar Reddy, criticised Modi's approach, saying: "Modi claims that Trump is his best friend but the US president's agenda was clear that he wanted to impose tariffs on India."
He urged the government to quickly finalise a trade agreement with the United States, warning that delays could hurt exports and the Indian economy.
Trump explains tariff decision
Earlier in the day, Trump announced the 25 per cent tariff on Indian goods starting August 1, citing unresolved issues in bilateral trade talks. He highlighted India's high import duties, major defence and energy purchases from Russia, and what he called "obnoxious non-monetary trade barriers" as reasons for the move.
"India will be paying a tariff of 25 per cent plus a penalty," Trump said, while also complaining about the "massive trade deficit with India." Despite these strong measures, Trump referred to India as a "friend" in his post on Truth Social.
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The Wire
26 minutes ago
- The Wire
Supreme Court Stays Rahul Gandhi Defamation Case; Says: 'If You Were True Indian, You Wouldn't Say All This'
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Fibre2Fashion
26 minutes ago
- Fibre2Fashion
US' Boot Barn Q1 sales jump 19.1%, full-year forecast raised
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Mint
26 minutes ago
- Mint
Midcaps, smallcaps stocks to buy: Inox Wind, Radico Khaitan to UPL — Experts suggest 12 shares for the short term
Midcap and smallcap stocks to buy: One of the fundamental rules of stock market investing is to stick to large-cap stocks during periods of uncertainty, as they tend to be more stable than their mid- and small-cap counterparts. The Indian stock market is facing heightened uncertainty this year, driven by US President Donald Trump's tariff policies, persistent foreign capital outflows, and lacklustre corporate earnings. As a result, investors appear to be steering clear of mid- and small-cap stocks, instead favouring large-cap companies with broader market presence, stronger balance sheets, and a healthier growth outlook. As of August 1, equity benchmark Sensex has gained 3 per cent year-to-date, while the BSE Midcap index has declined 3 per cent. The BSE Smallcap index has lost nearly 5 per cent this year so far. Experts point out that while mid- and small-cap stocks offer upside opportunities due to their ability to grow rapidly, they are also vulnerable to market volatility and external headwinds. However, they add that one should not completely avoid mid- and small-cap stocks, as despite the plethora of headwinds, these segments have plenty of opportunities. Darshil Shah, Senior Research Analyst at HDFC Securities, said that given the backdrop of subdued earnings in Q1 FY26, persistent FPI outflows, and uncertainty regarding the US tariffs, a cautious approach is warranted around mid- and small caps. "It would not be prudent to completely avoid them, as investors would miss out on long-term growth opportunities. The domestic macroeconomics continue to remain strong, and the structural growth story for India remains intact despite temporary external headwinds," said Shah. "Investors must look for companies with a resilient business model, good corporate governance and manageable debt levels with higher domestic exposure in the mid and small caps as long-term wealth creation opportunities," Shah said. Ajit Mishra, SVP of research at Religare Broking, highlighted that in the current environment of weak earnings, persistent FPI outflows, and global uncertainties such as Trump's tariff threats, the broader mid and small-cap segments appear expensive and increasingly vulnerable. That said, the market has turned more stock-specific than theme-driven. "While broader market valuations remain elevated, select fundamentally strong companies with clear long-term growth drivers still present compelling opportunities. In this backdrop, a bottom-up investment approach focused on quality names is essential. Return expectations should remain moderate and aligned with fundamentals, rather than chasing momentum," said Mishra. Here are 12 stocks from the mid and small-cap segments that experts suggest buying for the short term. Take a look: Colgate-Palmolive has broken out above its recent consolidation with strong volumes, signalling fresh buying momentum. The stock is trading above key moving averages, confirming its bullish trend. RSI is also positive, indicating sustained strength without overbought conditions. "A move above ₹ 2,272 can lead to targets of ₹ 2,500. The stock's price structure shows higher highs, supporting further upside. Traders can consider buying at current levels while maintaining a stop-loss at ₹ 2,100 to manage risk effectively," said Tapse. Inox Wind has seen strong buying interest after rebounding from support near ₹ 140. The stock has moved above short-term averages with improving volumes, suggesting continued momentum. RSI is trending upward, reflecting bullish sentiment. "Sustaining above ₹ 153 can drive the stock toward ₹ 178 in the short term. Positive price action and higher lows strengthen the outlook. Traders may consider fresh buying positions while placing a strict stop-loss at ₹ 140 to control downside risk," Tapse said. Jyothy Labs is witnessing steady accumulation, supported by rising volumes and strong price action. The stock is trading above its short-term moving averages, indicating a bullish setup. RSI is also in an upward trend, suggesting further upside potential. "A sustained move above ₹ 337 could push the stock toward ₹ 380 in the near term. Traders may consider fresh entries at current levels while maintaining a stop-loss at ₹ 315 to safeguard against market volatility," said Tapse. Lemon Tree has regained strength after holding above ₹ 150, backed by strong buying interest. The stock is trading well above its short-term averages, signalling positive momentum. RSI remains supportive, highlighting potential for further gains. "A breakout above current levels can take the stock toward ₹ 165 in the short term. The chart shows higher lows, reflecting sustained demand. Traders may buy at current levels with a stop-loss at ₹ 140 to manage risk effectively," Tapse said. Afcons Infrastructure has given a volume-backed breakout above ₹ 400, suggesting fresh bullish momentum. The stock is trading above both its 20-day and 50-day averages, reinforcing strength. RSI is also in a positive zone, pointing toward continued upside. "Sustaining above ₹ 403 can take it toward ₹ 480. Price action indicates a strong upward trend with higher highs and strong support. Traders should consider buying with a stop-loss at ₹ 360 to manage risk while targeting higher levels," Tapse said. RHI Magnesita India has given a breakout of its falling trendline on the daily timeframe, signalling a potential trend reversal. The rise in volumes on the buying day reflects strong buying interest and participation from bulls. Ichimoku analysis shows the price is trading above the base line, conversion line, and Ichimoku cloud, confirming the shift to an uptrend, said Kamble. Kamble said the momentum indicator RSI is trading in the higher zone, supporting the security's bullish momentum. Moreover, Kamble highlighted that DI+ is above DI-, which indicates a positive trend, while ADX above DI- confirms strength in the ongoing up move. Netweb has recently broken above its key resistance, accompanied by rising volumes, indicating strong buying interest. The price closing above the breakout zone reflects renewed bullish momentum. Kamble highlighted that the Ichimoku analysis suggests the price is trading above the base line, conversion line, and Ichimoku cloud, confirming alignment with an ongoing uptrend. The RSI is holding in the higher range, reinforcing bullish momentum and suggesting continued upside potential. DI+ is above DI- indicating buyer dominance, while ADX crossing above DI highlights strengthening trend momentum, said Kamble. Radico Khaitan has broken above its key resistance level and is currently trading at an all-time high with rising volumes. This price action reflects strong buying interest and indicates that bullish momentum is dominating the trend. Kamble said the Ichimoku analysis shows the stock is trading well above the base line, conversion line, and Ichimoku cloud, confirming alignment with a bullish trend and suggesting continued upward momentum. The momentum indicator RSI is positioned in the higher range, indicating strong positive momentum and supporting the ongoing bullish bias. DI+ is above DI-, reflecting buyer dominance, while ADX trading above the directional indicators highlights strength in the uptrend, said Kamble. UPL remains in a long-term uptrend, forming higher highs and higher lows. After hitting a recent swing high, the stock has retraced to its demand zone, offering a potential buying opportunity. "A reversal from current levels could resume the uptrend. A sustainable breakout above ₹ 735 would confirm bullish continuation, potentially leading to an upside target range of ₹ 800– ₹ 820," said Matalia The RSI is currently at 56, indicating a healthy pullback with potential for reversal. The stock trades comfortably above its key moving averages, suggesting strong underlying strength. "Buying on dips can be considered as long as the stock holds above ₹ 670, with a stop loss placed at ₹ 650. A breach below this level may weaken the technical structure and would require reassessment of the position," said Matalia. Delhivery is showing strong bullish momentum following a V-shaped recovery from lower levels. "The stock has recently seen a breakout above the key resistance level of ₹ 450, and a sustained hold above this zone would confirm renewed bullish strength, potentially triggering the next leg of the rally," said Matalia. RSI stands at 61.35, reflecting strong momentum and upward direction. The stock has bounced from its short-term EMA and is holding comfortably above all key moving averages, providing solid technical support. "Traders can consider buying at current levels, with opportunities to add on dips near ₹ 435, while maintaining a stop loss at ₹ 420. On the upside, the stock may head towards the target range of ₹ 520– ₹ 535, supported by the ongoing positive structure. A sustained move below ₹ 420 would weaken the bullish setup and warrant reassessment," said Matalia. Vishal Mega Mart is in a well-defined uptrend, forming a sequence of higher highs and higher lows. The stock is currently consolidating near its upper range, showing strength around key resistance. "A breakout and close above ₹ 145 could trigger a fresh upward move, potentially leading to an upside target range of ₹ 155– ₹ 158," said Matalia. RSI is at 61.35 and pointing toward a positive crossover, signalling growing momentum. The stock is respecting its short-term and medium-term EMAs, which are acting as reliable support zones. "The overall trend remains bullish, and buying can be considered on a breakout above ₹ 145, with a stop loss at ₹ 134 to manage risk. A move below this level may signal short-term weakness and require a reassessment of the setup," said Matalia. Marico has been in a consolidation phase near its all-time highs. The stock has recently shown signs of accumulation at the lower end of the range, backed by consistent volumes. The stock has recently shown signs of accumulation at the lower end of the range, backed by consistent volumes. "A breakout above ₹ 725 could lead the stock towards its swing high of ₹ 745, and a sustained move above that level may open the path for new highs in the range of ₹ 780– ₹ 800," said Matalia. RSI stands at 51.71 and has shown a positive crossover, indicating renewed bullish momentum. Marico is trading near its short-term and medium-term EMAs, and holding above these levels adds strength to the setup. "Traders can consider buying on a breakout above ₹ 725, while maintaining a stop loss at ₹ 675 to manage downside risk. A move below this level would weaken the bullish structure and call for a reassessment," said Matalia. Read all market-related news here Read more stories by Nishant Kumar Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
