NDTV Profit Pulse On July 8: Top 8 Stories At 8 PM Under 8 Minutes

The growing buzz over US tariffs is among the top news of the day, along with Viceroy Research shorting the debt stack of Vedanta Resources, alleging financial mismanagement. Also among the headlines was Asian Paints' exit from Akzo Nobel.

Here’s a quick roundup of today’s key headlines:

The Donald Trump-led administration is preparing a fresh wave of trade moves, while update on India-US trade still awaited.

Commerce Secretary Howard Lutnick stated that 15–20 tariff-related letters are set to go out in the next two days, and confirmed that Trump intends to impose a 50% tariff on copper, likely by late July or August 1.

Vedanta Group has dismissed the short-seller report issued by Viceroy Research, calling it a “malicious combination of selective misinformation and baseless allegations” aimed at discrediting the group.

The company said the report was released without any attempt to seek a response from Vedanta and alleged it was created solely to trigger false market sentiment. It claimed the report contains only a compilation of publicly available information, which has been taken out of context and presented in a misleading way to profit from the resulting reaction.

Read full story here.

Tata Consultancy Services Ltd. is set to announce its earnings for the April-June quarter on Thursday and analysts expect the company to post muted sequential growth as headwinds from the BSNL deal ramp-down offset gains in international markets.

India’s largest software services provider’s revenue growth is likely to be modest in constant currency terms, with foreign exchange gains providing support in reported figures, according to analysts. Meanwhile, the EBIT margin are expected to remain stable or see a slight improvement, driven by the near-completion of the BSNL project, partial deferral of wage hikes, and continued growth in international markets.

The Indian Hotel and Restaurant Association has raised a red flag over a series of tax hikes in Maharashtra, warning that the state's hospitality sector is on the verge of collapse.

In a strongly worded statement, AHAR described the successive levies as a "tsunami of unjust taxes" that are threatening jobs, business survival, and the long-term viability of the industry.

Asian Paints Ltd. confirmed that it offloaded its entire stake in Akzo Nobel India Ltd. in a large trade on Wednesday. The transaction accounted for 4.42% of the company’s outstanding equity, with 20.1 lakh shares exchanged at an average price of Rs 3,651 apiece, according to an exchange filing. This takes the cumulative value of stake offloaded to Rs 734 crore.

Read more details here.

Actively managed equity mutual funds recorded a Rs 23,587 crore inflow during June, higher by 24% compared to the inflow of Rs 19,013 crore recorded in May, as per the monthly data released by the Association of Mutual Funds in India. This is a snap in a five-month decline in flows into actively managed equity.

Tier-II cities have outperformed metropolitan cities in terms of appreciation in the value of real estate investments, according to a report released Magicbricks. The average capital appreciation in Tier-II cities went up 17.6%, overtaking Delhi’s 15.7%, the online real estate platform said in its report.

Asia’s oldest stock exchange, BSE, completed 150 years on Wednesday. Initially known as Bombay Stock Exchange, BSE has turned into one of the largest stock exchanges in the world.
Currently, the market capitalisation of all the BSE-listed companies stands at more than Rs 462.48 lakh crore. As many as 5,671 companies are listed on the BSE as of July 9, 2025.