NDTV Profit Pulse On July 7: Trade Deals To Quarterly Updates — Top 8 Stories Of The Day
From Trump's upcoming trade deal announcements to key quarterly updates released by Indian firms, here's a quick round-up of the day's top news.
US President Donald Trump's announcements, scheduled later on Monday, on the trade deals his administration has inked with various countries remains the top focus. Trump has also threatened to issue "tariff warning" letters to a number of nations.
Among the other major news of the day are the quarterly business updates rolled out by the likes of Titan Co. and Tata Motors for its subsidiary Jaguar Land Rover.
Here’s a quick roundup of today’s key headlines:
Trump Set To Announce Trade Deals, Tariff Warnings
President Donald Trump plans to announce trade deals and deliver tariff warnings on Monday, as countries negotiated through the weekend to avoid the highest punitive measures on their exports to the US before a Wednesday deadline.
The timeline for the talks appeared to be reset after US officials signaled that trading partners will have until Aug. 1 before the tariffs kick in, said news agency Bloomberg. That gives them the option of three more weeks for deal-making.
Titan Consumer Business Rises 20%, 10 New Stores Added In Q1
Titan Co. announced on Monday that its consumer business saw a growth of 20% in the first quarter ended June.
The Tata Group-managed jewellery and watchmaker added 10 stores during the April-June quarter, taking its combined retail network presence to 3,322 stores, according to an exchange filing on Monday.
Read full story here.
Jaguar Land Rover's Retail Sales Fall 15% In Q1
The Tata Motors Group's subsidiary, Jaguar Land Rover, reported on Monday a 15% decline in retail sales at 94,420 units in the first quarter of this financial year.
This largely reflects the planned wind-down of legacy Jaguar models1 ahead of the launch of new Jaguar, and a pause in shipments to the US during April 2025 following the introduction of US import tariffs.
Jio BlackRock Mutual Fund Raises Rs 17,800 Crore Through Maiden NFO
JioBlackRock Asset Management Pvt. has closed its maiden new fund offer after recording a total investment of Rs 17,800 crore, as per an announcement made by the company on Monday.
JioBlackRock is a 50:50 joint venture between Jio Financial Services Ltd. and BlackRock. The fund was mobilised from three cash/debt mutual fund schemes — JioBlackRock Overnight Fund, JioBlackRock Liquid Fund and JioBlackRock Money Market Fund.
Indian Banks' Q1 Loan Growth Blitzes As Deposit Mobilisation Slows
Credit-deposit growth divergence continued in April-June as advances growth has surged across most banks but deposit growth has struggled to keep pace, according to the provisional figures disclosed by lenders.
This trend was visible across public, private, and small finance banks with advances generally outperforming deposits.
Among private sector banks, HDFC Bank Ltd. was an outlier with deposits outpacing loans at 6.7% and 16.4%, respectively. However, this is on account of the merger with erstwhile Housing Development Finance Corporation, which came into effect on July 1, 2023.
Early Festive Push: Retailers Amp Up Deals, Discounts To Spur Spending
With the festive season arriving early, retailers have lined up endless offers and higher discounts on all sorts of items — from snacks and apparel to beauty and electronics — in a bid to nudge consumers to splurge after a year of sluggish sales. Buoyed by a slight uptick in discretionary spending during the end of season sales, they are hopeful of a double-digit growth in the festive quarters after sub-5% growth in the last 12-month period.
E-Voting Made Easier: What Shareholders Need To Know About The New CDSL, NSDL Apps
The two main securities depositories in India — Central Depository Services and National Securities Depository — have launched a new feature in their investor apps that makes it easier for shareholders to make informed decisions when voting on important company matters.
The feature, rolled out on July 7, is now live on CDSL’s ‘MyEasi’ app and NSDL’s ‘Speed-e’ app. It integrates recommendations from proxy advisory firms directly into the e-voting platform.
Read more details here.
'Will Lead To More...': Github CEO On Whether AI Will Replace Software Developer Jobs
Github Chief Executive Officer Thomas Dohmke, during his appearance on 'The Silicon Valley Girl Podcast', said that artificial intelligence would lead to more hirings for software engineers rather than fewer.
The software company head argued that since AI can multiply the capabilities of a single developer on a larger scale, hiring more skilled developers will lead to more efficient and amplified output.
“If you 10x a single developer, then 10 developers can do 100x," Dohmke said.
