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President Trump announced potential tariffs on imported pharmaceuticals, impacting countries like India, a major supplier to the US drug market. In 2024, US pharmaceutical imports reached $213 billion, with India providing over 45% of generic drugs and 15% of biosimilars. The move aims to bolster domestic production, raising concerns for Indian pharma companies reliant on US revenue.

Citi has downgraded US equities to Neutral due to high valuations and tariff pressures, while maintaining an Overweight rating for India. India s strong domestic fundamentals and relative insulation from global trade tensions drive this positive outlook. The UK was upgraded to Overweight, while Australia remains an Underweight.

LGT Wealth s CIO-Equities, Chakri Lokapriya, suggests a multicap approach, highlighting value in mid and small-caps after recent market volatility. He favors domestic-facing companies like Tata Consumer and Voltas, financials benefiting from government spending, and industrials. Cement companies like UltraTech are also promising. While IT faces discretionary spending uncertainty, chemicals offer an advantage due to favorable tariffs compared to China.

NHPC shares are in focus following the commencement of commercial operations for a 107 MW solar power capacity in Rajasthan. Additionally, trial runs for all units of the Parbati-II HE Project in Himachal Pradesh have been successfully completed, with commercial operations already declared for three units earlier this month.

RIL shares: Reliance Industries has posted a 17.58% drop over the past year. On a year-to-date (YTD) basis, the stock is down 0.19%. Over the last six months, it has declined by 11.07%, while the three-month and one-month performances show declines of 1.86% and 2.25%, respectively.

The recent market drawdown may have already factored in some but not all potential earnings cuts, especially in globally exposed sectors such as IT services and energy. In such a scenario, large-cap valuations look more attractive than mid- and small-caps, and also present fewer downside risks.

Ashoka Buildcon shares: The project entails gauge conversion along a 53.3-kilometer section between Pachora and Jamner in Maharashtra. The scope of work covers earthwork, construction of major and minor bridges, road under bridges (RUBs), permanent way (P-Way) work, and various other civil works.

Following market volatility due to tariff concerns, analysts suggest focusing on domestic-oriented sectors like banking, power, and healthcare. India s lower export dependency and resilient macro setup offer a safe haven. Experts recommend a diversified portfolio with stocks like Reliance, TVS Motor, and ICICI Bank, anticipating growth and outperformance in a post-tariff environment.

State Bank of India has slashed its External Benchmark Based Lending Rate and Repo Linked Lending Rate by 25 basis points, following the RBI’s repo rate cut to 6.25%. Effective April 15, the move is set to ease EMIs for retail borrowers and could buoy rate-sensitive stocks. SBI shares had closed 1.7% higher ahead of the announcement.