Tariffs Galore To Start Of Q1 Earnings — The Week That Was

India witnessed a busy week pass by, with June quarter earnings starting on a solid note, led by Tata Consultancy Services Ltd. on Thursday. Hindustan Unilever announced the stepping down of Rohit Jawa as the chief executive officer, with first-ever female CEO Priya Nair taking over the chair.

On the global front, Washington rolled out over 20 tariff letters ranging from Japan to Canada to Brazil, while also announcing steep levies on copper imports.

Here are the key developments from this week:

TCS kicked off the June quarter earnings season, reporting a 4% gain in profit on Thursday. Tata Elxsi and Ireda also disclosed their financial results for the season.

Avenue Supermarts, parent company of supermarket chain DMart, saw consolidated bottom line come in flat for the quarter.

The United States is escalating global trade tensions with a wave of new tariff announcements. Beginning Aug. 1, Canada will face a 35% tariff on a range of imports, as Washington accuses Ottawa of failing to take adequate action against fentanyl trafficking.

More than 20 other countries are also in the crosshairs, with new tariffs ranging from 15% to 20%. Brazil is among the hardest hit, with a steep 50% tariff imposed. Copper imports are also being targeted, now subject to a 50% tariff. The US also threatened to levy a 200% tariff on pharmaceutical imports unless manufacturers relocate production facilities to American soil.

Rohit Jawa will step down as managing director and chief executive officer of Hindustan Unilever Ltd. on July 31, 2025 — nearly three years before the conclusion of his five-year tenure. Jawa will be replaced by Priya Nair, currently president of parent Unilever's beauty and wellbeing division, the country's largest consumer goods maker said in an exchange filing on Thursday.

Tesla will formally enter the Indian market next week by opening its first showroom in Mumbai on July 15, a move that follows years of preparation and regulatory discussions, as the electric vehicle maker begins building its presence in the world’s third-largest car market.

Shares of Crizac Ltd. have debuted on the Indian bourses at a premium of over 14%, at Rs 272 per share on the BSE and Rs 281.05 per share. The company's initial public offering was subscribed 59.82 times, led by heavy demand from institutional and non-institutional investors. Crizac offers international student recruitment solutions to global institutions of higher education in the UK, Canada, New Zealand, Australia and the Republic of Ireland.

Ruoming Pang, a distinguished engineer and manager in charge of the company’s Apple foundation models team, is departing, reported Bloomberg. Pang, who joined Apple from Alphabet Inc. in 2021, is the latest big hire for Meta’s new superintelligence group, said the people, who declined to be named discussing unannounced personnel moves. To secure Pang, Meta offered a package worth tens of millions of dollars per year, said people in the know.

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