London’s FTSE 100 Index plunged by 1.2% amid concerns over new US tariffs announced by President Trump, potentially impacting global markets. Asian stocks also dropped, with Japan's Nikkei falling 2.8%. Despite no immediate UK-specific tariffs, the uncertainty has affected financial markets. Investors remain cautious about a global trade war's potential effects on growth.
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Shares of Standard Glass Lining Technology Ltd closed with a nearly 17% premium against the issue price, debuting at Rs 176 on the BSE, with a valuation of Rs 3,258.70 crore. The IPO saw a 182.57 times subscription with proceeds for debt repayment, investments, and acquisitions.
Indian manufacturers foresee growth in US revenues for leather goods, non-leather footwear, and textiles, driven by lower tariff rates compared to China, Vietnam, and Bangladesh. However, Indian carpet makers express concerns over the competitiveness of their products due to higher tariffs compared to Turkey, Azerbaijan, and Nepal, threatening their business margins.
The Reserve Bank of India is anticipated to cut the repo rate by 25 basis points in its first policy decision under Governor Sanjay Malhotra. Experts believe this move aims to boost economic growth while maintaining inflation control, amid eased inflationary pressures and a stable Consumer Price Index.
Adani Group stocks experienced a significant recovery on Tuesday, with Adani Power leading the surge by 19.29%. Other notable increases included Adani Green Energy, Adani Energy Solutions, and Adani Total Gas. Benchmark indices Sensex and Nifty also rebounded, with the BSE Sensex rising by 505.6 points.
Adani Group is officially withdrawing from a $442 million wind power project in Sri Lanka after the government attempted to renegotiate the agreement for better energy rates.
KPI Green Energy has secured a Rs 272 crore loan from the National Bank for Financing Infrastructure and Development (NaBFID) to partly fund its 50 MW hybrid power project in Bharuch, Gujarat. The project, comprising 75.2 MWp solar and 16.95 MW wind capacity, will operate under a 25-year Power Purchase Agreement with Gujarat Urja Vikas Nigam Limited. The funding will help ensure the project’s timely completion.
Adani Enterprises reported a 97% drop in quarterly profit, significantly impacted by its coal trading unit and foreign exchange loss. Revenue fell almost 9% to Rs 22,850 crore. This comes amid allegations of the chairman and his nephew's involvement in a $250 million bribery scheme.
US stock markets had mixed reactions as Trump's new 25% tariff on imported cars affected automakers like General Motors and Ford. Tesla and Rivian, with more US-based production, saw gains. Positive economic reports showing fewer unemployment benefit claims and strong growth helped stabilize markets. European and Asian markets showed varied responses based on local conditions.
Grant Lee's AI startup Gamma is thriving with just 28 employees, achieving significant revenue and profitability. Many AI-driven startups are leveraging technology to maximize efficiency and reduce the need for large teams and funding. The trend raises questions about the future of venture capital investment in such lean and efficient companies.
Gold prices in New Delhi stayed steady at their record Rs 94,150 per 10 grams amid concerns over potential US reciprocal tariffs on nations with trade deficits, including India. Silver prices decreased to Rs 1,01,500 per kg. Global spot gold saw a marginal increase, while silver prices also rose slightly during Asian market hours.