Experts’ Views: Three Negatives Shadow Wednesday’s Market Move, Mehta Equities Says
Three big negatives cloud Wednesday’s market mood: President Trump’s threat to impose tariffs on chip and pharma imports is likely to keep pharma stocks under pressure; his fresh salvo indicating a steep tariff hike within 24 hours and calling India an unfavourable trade partner adds to the gloom; and Wall Street’s weakness after the ISM Services PMI showed a surprise slowdown, rising price pressures, and further job losses. All eyes now shift to the Reserve Bank of India Monetary Policy Committee meet, where the Street will be watching for cues on repo rate, inflation, and growth amidst this tariff turbulence, said Prashanth Tapse, a senior vice president, research, Mehta Equities.
Gland Pharma Q1 Review: Brokerages Divided—Jefferies Upgrades Rating To Hold, Citi Maintains Sell
Brokerages are divided in their views on Gland Pharma Ltd., post first quarter of fiscal 2025-26. Jefferies has upgraded its rating to ‘hold’ from ‘underperform’ and hiked the target price to Rs 1,950 from Rs 1,350. Meanwhile, Citi has maintained a ‘sell’ rating, with a target price at Rs 1,680.
Jefferies upgradeed Gland Pharma to hold, as it believe earnings downcycle for the company is behind and in next 1-2 years can benefit from the generic GLP driven tailwinds. “Our FY26-27 EPS moves up by 2-5% on higher growth and margin profile. We value Gland at 25 times Sept. 27 EPS with our price target,” it added.
Bajaj Auto, Hero MotoCorp, Jindal Stainless, Trent Q1 Results Today — Earnings Estimates
Bajaj Auto Ltd., Hero MotoCorp Ltd., Jindal Stainless Ltd. and Trent Ltd. are among the top names that will announce their earnings for the first quarter on Wednesday.
Bajaj Auto is likely to post net profit of Rs 2,012.30 crore and revenue of Rs 12,283.40 crore for the quarter ended June, according to a survey of analysts’ estimates done by Bloomberg. Its earnings before interest, taxes, depreciation and amortisation is seen at Rs 2,429.40 crore, and margin is expected at 19.78%.
IPO News: Bluetstone Jewellery Sets IPO Price Band At Rs 492–517
Bluestone Jewellery set the price band at Rs 492–517 for its initial public offer.
NSDL IPO Listing Today; Check Expected Price Based On Latest GMP
The much-awaited initial public offering (IPO) of National Securities Depository Ltd. (NSDL), which closed on August 1, was subscribed 41 times on the third and final day of bidding. The NSDL IPO share allotment status was finalised on Monday, August 4.
The mainboard issue, which opened on July 30, received bids for more than 144.03 crore shares against 3.51 crore shares on offer.
Asia Markets Live Update: Trade Mixed Amid Fresh Tariff Threats
Asia-Pacific markets were trading on a mixed note on Wednesday amid fresh tariff threats from the US President Donald Trump. He said that he will announce tariffs on pharmaceutical, and semiconductors.
The Nikkei 225 and S&P ASX 200 were trading 0.44% and 0.55% higher, respectively as of 7:40 a.m. The CSI 300 and Hang Seng were trading 0.01% and 0.20% down, respectively as of 7:41 a.m.
US Market Update: Dow Jones And S&P 500 Futures Rise
The Dow Jones Industrial Average and S&P 500 futures rose in Asia-Pacific session. On Tuesday, US stocks ended with losses as US ISM services purchasing manager index data softened, further putting light on the economic slow down.
The Dow Jones Industrial Average and S&P 500 futures were trading 0.11% and 0.10% higher, respectively as of 7:35 a.m. The Nasdaq 100 futures fell 0.02%.
Stock Market Today: GIFT Nifty Implies Positive Open; Airtel, Container Corp, Bank Stocks In Focus
The GIFT Nifty was trading 0.10% or 25 points higher at 24,662.50 as of 6:41 a.m., which implied a higher open for the benchmark NSE Nifty 50 index.
Bharti Airtel Ltd., Amber Enterprises Ltd., Container Corp of India, Torrent Power Ltd., and Britannia Industries Ltd. shares in focus in Wednesday’s session. Bank and financial services’ stocks will also get attention today as the Reserve Bank of India’s rate-setting panel is expected to release its policy decision.
The Indian equity benchmark indices closed lower after a day of closing in the green, as Adani Ports, Reliance, Infosys along with others weighed on the index. The NSE Nifty 50 benchmark ended 73 points, or 0.30% down at 24,649, and the 30-stock BSE Sensex ended 308 points, or 0.38% lower at 80,710.
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