📊 Key Business Updates
Winners:
🔹 Titan – Strong YoY growth in jewellery and retail expansion, benefitting from gold prices.
🔹 JSW Steel – Robust volume growth across quarters and YoY, indicating steady demand.
Mixed:
🔹 Tata Steel – FY growth is healthy, but sequential production dip raises caution.
🔹 Tata Motors (JLR) – Wholesale volumes improved, but retail softness remains a concern.
Major Developments
🔹 #TrumpTariffs Tension Escalates – EU Commission President Ursula von der Leyen says Europe prefers negotiation over confrontation but is ready with countermeasures. EU offers zero-for-zero tariffs on industrial goods.
🔹 U.S.-China Trade Heat Intensifies – U.S. President Trump warns of 50% tariffs on China from April 9 if China doesn’t roll back 34% tariffs by April 8. All meeting requests with China now terminated.
🔹 KPI Green Cancels Hybrid Project – Terminates 66.2 MW hybrid power project with Sai Bandhan Infinium due to technical changes post-order.
🔹 Bharat Electronics Secures ₹2,210 Cr Defence Order – Order is for Electronic Warfare (EW) suite for Indian Air Force.
🔹 HDFC Bank Cuts Lending Rates – MCLR reduced by 10 bps across all tenures.
🔹 Crude Watch – India’s average inventory at $75/bbl, possible retail price cut if levels hold.
🔹 LPG Price Hike Announced – ₹50/cylinder hike from tomorrow. FY25 under-recovery estimated at ₹41,338 crore, says Petroleum Minister Hardeep Singh Puri.
🔹 FM Sitharaman Off to UK & Austria – Will hold bilateral talks and investor meetings.
🔹 Tata Power – Forward-looking BESS project aligns with green energy goals.
🔹 Piramal Capital – Transition to NBFC model could streamline operations and refocus the business.
