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The rupee strengthened to 87.59 against the US dollar, buoyed by a weaker dollar index, falling Brent crude prices, and RBI intervention. However, FII outflows and a decline in domestic equity markets, coupled with new US tariffs, limited the rupee s gains. The dollar index declined following concerns about the US Federal Reserve s independence.

Treasury Secretary Scott Bessent said a US stake in Nvidia is unnecessary, as the chipmaker doesn’t need support. He noted other industries, like shipbuilding, might warrant investment. The administration recently took stakes in Intel and US Steel to secure strategic national interests.

Acme Solar Holdings board cleared a proposal to raise Rs 3,000 crore in multiple tranches. The fund raising will be through equity shares or other equity-linked instruments. Shashi Shekhar was re-appointed as Vice-Chairman and Whole-Time Director. The re-appointment is effective from April 9, 2026. Both proposals are subject to approval at the AGM on September 29, 2025.

Indian banks are exercising caution as the 50% US tariff takes effect, but leading bankers anticipate a limited impact on credit growth and asset quality due to small export credit outstanding. While certain sectors like gems & jewellery and textiles face higher exposure, the government is expected to provide fiscal relief, and exporters will likely diversify into new markets.

Metal companies performance in June 2025 quarter was influenced by raw material and product prices. Ferrous producers saw profit growth due to higher domestic prices and lower coking coal costs. Non-ferrous firms had muted results from weaker aluminium and zinc prices. Steelmakers benefited from falling coking coal costs and government safeguard duties.

Reserve Bank of India will meet with industry leaders to discuss the impact of US tariffs. The consultation is planned for September. It will assess how the 50% tariffs affect various sectors. Labour-intensive industries may face significant challenges. The meeting will also cover the India-UK trade agreement. RBI aims to cushion the economy from the fallout.

Silver prices in New Delhi hit a record high of ₹1,20,000 per kilogram. This surge happened as investors sought safe-haven assets. The US tariff on Indian products has taken effect. Gold prices also increased, reaching ₹1,01,270 per 10 grams. Political uncertainty after Donald Trump s dismissal of Lisa Cook, a Federal Reserve Governor, further fueled the rise in prices.

ByteDance, the parent company of TikTok, is planning a new employee share buyback, valuing the company at over $330 billion. This decision follows a 25% year-on-year surge in second-quarter sales, reaching approximately $48 billion, primarily driven by its China business. The buyback offers employees liquidity without an IPO, highlighting ByteDance s financial strength.

China s chipmakers are aggressively pursuing a plan to triple their AI chip production by 2026, aiming to lessen reliance on Nvidia. Huawei intends to initiate AI chip production by the end of the year and establish two more facilities by 2026. SMIC also plans to double its 7-nanometer chip manufacturing capacity next year, with Huawei as its primary client.

Motilal Oswal Securities remains positive on India s consumer sector after a stable first quarter. The brokerage favors Hindustan Unilever, Godrej Consumer, and Marico. It anticipates a widespread recovery in fiscal year 2026. This recovery will be due to lower inflation and possible rate reductions. Tax advantages and robust festive season demand will also help.