Latest Stock Market News

Indian auto sales are slowing as buyers delay purchases ahead of a possible GST rate cut of up to 10% in September, which could spark a strong festive demand surge; Jefferies expects 2Ws and small PV makers to be the biggest beneficiaries.

Li Chenggang is set to travel to Washington this week for meetings with U.S. officials. A U.S. government spokesperson confirmed the trip but stressed that it will not be part of a formal negotiation round.

IT stocks like Infosys, TCS, HCL Tech, and Wipro are seeing renewed buying interest as tariff clarity boosts confidence, though experts caution against sharp gains. Deepak Shenoy highlights AI-driven adaptation for IT and sees private banks offering better value than PSU peers amid valuation concerns.

UBS resumed coverage on Reliance Industries with a ‘Buy’ rating and a Rs 1,750 target, citing strong prospects in Jio, retail, and new energy. The brokerage expects value unlocking across business segments, with earnings growth and sector-leading multiples supporting long-term re-rating potential for the stock.

SK Finance, backed by TPG Inc., has shelved its planned Indian IPO due to insufficient investor demand, even after reducing the valuation and offer size to 16 billion rupees. The non-bank lender, focusing on vehicle financing and small loans, secured regulatory approval in August 2024, which is expiring soon.

Bank of America downgraded Sun Pharma stock to ‘underperform’ from ‘neutral’, citing risks to premium valuations and slower speciality execution. The brokerage cut its target price, flagging concerns over Ilumya’s Medicare exposure, pricing pressures, and limited earnings visibility despite strong initial performance.

India is bracing for potential trade turmoil with the US as proposed 50% tariffs loom. Economist Swaminathan Aiyar suggests the dispute transcends trade, implicating geopolitics due to India s stance on Russian crude oil. Aiyar cautions about the impact on India s defense ties with the US, questioning future arms purchases if treated unfavorably.

India faces a major test as the US moves to impose 50% tariffs, shifting the issue from trade to geopolitics. While India explores diversification with Europe, ASEAN, and others, investor sentiment has weakened. Experts stress India’s strong fundamentals but caution that diplomatic strategy will be critical to safeguard growth.

Ashi Anand suggests a GST cut on farm equipment could boost India s rural economy. He believes large-scale tariffs on medicines are unlikely, despite US policy unpredictability. Investors should be selective in pharma, focusing on biosimilars and CRAMS. GLP therapies present a major opportunity as patents expire. CDMOs and branded generic players are well-positioned to capitalize on this trend.