Ahead of Donald Trump's tariff announcements, oil's recent rally faltered, and Maruti Suzuki India declared its fourth price hike in the year.
Consulting firm PwC has submitted its report on the accounting discrepancies at IndusInd Bank. Realty firms Macrotech Developers and House of Abhinandan Lodha are once again at loggerheads, with the former accusing the latter of fraud and forgery.
Here’s a quick roundup of today’s key headlines:
Countries Only Get What They Negotiate
India must brace for potential trade friction but remain firm in negotiations, believes Jayant Krishna, Senior Fellow at the Centre for Strategic and International Studies.
India, said Krishna, has already made some conciliatory moves, such as removing the 6% Google tax to address some US concerns. But if the tariffs are too stringent, it could derail progress toward a bilateral trade agreement, he stated.
Read to know more about the Senior Fellow's take on Trump Tariffs and what they could mean globally.
US Markets Spooked Ahead Of Tariffs
Global markets experienced a downturn as investors braced for President Trump's impending tariff announcements, signaling a potential shift in international trade dynamics - the S&P 500 opened lower, mirroring declines seen in Asian and European markets, despite positive US jobs and factory data.
Market concerns centered on the potential economic impact of widespread tariffs, including the possibility of diminished consumer confidence and increased pressure on the Federal Reserve to implement further interest-rate reductions, contributing to a decline in Treasury yields and a surge in gold prices.
Meanwhile, markets back home snapped a two-day losing streak to end higher, with the Nifty up 0.71% and the Sensex up 0.78%.
Follow how US markets fare ahead of tariffs here.
PwC Submits IndusInd's Report
Consulting firm PwC has filed its report on the lender's portfolio accounting discrepancies, which had come to light on March 10, as per sources familiar with the matter. The board further awaits independant firm Grant Thornton's review on the same, they mentioned.
The Reserve Bank of India is awaiting the results of this internal accountability exercise, specifically the board's adoption of the independent firm's report, before deciding on any regulatory action. The RBI will base its actions on the board's findings regarding the accounting lapses.
Read more to know how FY25's largest loss making company in the Nifty 50 index is faring.
Lodha Vs Lodha
Macrotech Developers has alleged that House of Abhinandan Lodha has engaged in fraud and forgery, from forging board resolutions of Macrotech Developers and the signature of one of its independent directors, among more.
The latter has denied these allegations in a statement of its own.
Read more about the new warfront that has opened up between the realty brothers.
Karnataka Suspends Bike Taxi Services
A day after Maharashtra approved a bike taxi proposal in the state, the Karnataka High Court has ruled that services like Rapido, Ola and Uber cannot operate bike taxis in the state until the government formulates specific regulations.
The court has directed the transport department to ensure that all bike taxi operations cease within six weeks, the Indian Express reported.
Read to know the what the High Court demands to allow bike taxis in the state.
Maruti Suzuki's Fourth Price Hike
Maruti Suzuki India Ltd. has announced that the company will hike prices with effect from April 8, 2025, due to rising input costs, operational expenses, regulatory changes and feature additions.
The announcement comes ahead of the impending tariffs on all automobile imports in the United States. The US has announced a blanket levy of 25% on imports of cars, trucks and auto components.
Read to know how much getting a new WagonR or Grand Vitara is going to cost you.
Oil Rally Wavers
Oil prices remain relatively stable, halting last month's upward trend, as traders await the US tariff announcements expected later on Wednesday.
With Brent crude trading below $75 a barrel, these tariffs, set to take immediate effect, contribute to market uncertainty alongside existing factors such as potential supply reductions from Russia and Iran due to sanctions, and the offsetting effect of increased OPEC and allied production, which raises concerns about a possible oversupply later in the year.
Car Industry's Slowing Growth
Despite India's emergence as a significant car export hub, the nation's domestic car industry is projected to experience its slowest growth rate since the pandemic.
Dealership dispatches rose by only 2.6% year-on-year in fiscal 2025, and this deceleration, marking the slowest pace in four years of continuous growth, is further underscored by market leader Maruti Suzuki's expectation of even slower growth in FY26.
Read to know about how a silver lining (hint: exports) may aid growth in the space.
Tech IPO Boom On Track For 2027
A significant rebound in book building offers with stock sales is anticipated, with over thirty-six tech startups, collectively valued at $100 billion, planning initial public offerings by 2027, reported Bloomberg.
Notable firms such as Flipkart, PhonePe, and Oyo Hotels are among those preparing to list, aiming to revitalise a market that, despite ranking as the world's second-largest for share sales last year, has since experienced a slowdown.
Here are other top stories that you cannot miss
In Charts: India-US Trade From A Global Lens
Hindustan Zinc's Metal Production At All-Time High In FY25
Amid US Tariffs, Floating Steel Trade May Come To India: SAIL Chairperson
Adani's Mundra Port Becomes First In India To Handle 200-MMT Cargo Volume In A Year
Gold Price To Hit Rs 1 Lakh In Near Future? Analysts Bullish As Trump Tariffs Boost Safe-Haven Appeal
America Is Headed For A Grim Fiscal Reckoning
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