Trump Reciprocal Tariffs: All You Need To Know Before Going Into Trade On April 3

The Nikkei 225 slumped over 4% and Kospi nearly 3% after US imposed tariffs higher than expected which spoilt the sentiment for Asia-Pacific share indices. US President Donald Trump imposed 10% base tariff on all exports, and additional tariffs on his top trading partners — China, Vietnam and the European Union.

The Nikkei 225 pared some losses to trade 2.88% down. The Kospi was down 1.57%. The S&P ASX 200 was trading 1.55% down as of 6:27 a.m.

On Wednesday, the Dow Jones Industrial and S&P 500 ended 0.56% and 0.67% higher, respectively. The Nasdaq Composite ended 0.87% higher.

The dollar index was trading 0.61% down at 103.17 as of 6:21 a.m. Brent crude was trading 2.70% down at $72.93 a barrel. The Bloomberg spot gold was trading 0.20% high at $3,173.20 an ounce.

The GIFT Nifty was trading 0.72% or 168.00 points down at 23,060.50 as of 6:32 a.m.

The benchmark equity indices snapped a two-day losing streak on Wednesday, tracking a rise in HDFC Bank Ltd.

The NSE Nifty 50 ended 166.65 points or 0.72% higher at 23,332.35, and the BSE Sensex closed 592.93 points or 0.78% up at 76,617.44.

Foreign portfolio investors stayed net sellers on Wednesday for the third straight session as they offloaded equities worth Rs 1,538.9 crore, according to provisional data from the National Stock Exchange. Domestic institutional investors remained net buyers for the fourth consecutive session on Wednesday as they mopped up equities worth Rs 2,808.8 crore.

• MOIL: In fiscal 2025, the company's manganese ore production increased by 2.7% year-over-year, reaching a total of 1.8 MMT, manganese ore sales rose by 3.3% year-over-year to 1.58 MMT.

• Mahindra & Mahindra Financial Services: The company reported an overall disbursement up 1% at Rs 15,480 crore for the fourth quarter, disbursement up by 3% at Rs 57,850 crore for the fiscal 2025, and the collection efficiency at 97% for the end of fourth quarter.

• IndusInd Bank: According to sources cited by NDTV Profit, external auditor PwC has submitted its report on accounting discrepancies at the bank to the private lender's board. The report outlines findings from the investigation, which the board will review to decide on the next steps.

• Hariom Pipes Industries: The company posted total sales at 74,213 units versus 60,450 units in the fourth quarter and total sales at 2.5 lakh units versus 2 lakh units.

• Central Bank of India: In its business update, the company reported a 16.2% increase in gross advances, reaching 2.9 lakh crore. Total deposits grew by 7.2% to 4 lakh crore, while overall business rose by 10.8% to 7 lakh crore as of March 31, 2025.

• ESAF Small Finance Bank: The company reported gross advances up 1% at 18,975 crore, total deposits up 17.2% at 23,277 crore, and CASA Ratio at 24.85% vs 24.95%.

• Punjab National Bank: In its business update, the company reported a 13.6% increase in global advances, totaling 11 lakh crore. Global deposits grew by 14.3% to 15.6 lakh crore. Domestic advances rose by 13.2% to 10.7 lakh crore, while domestic deposits increased by 13.3% to 15 lakh crore as of March 31.

• Hindustan Zinc: In its business update for fiscal 2025, the company reported an 8% decline in silver production to 6.87 MT. Saleable metal increased by 2% to 10.52 MT, while mined metal rose by 1% to 10.95 MT. Wind power generation, however, decreased by 12% to 348 MU.

• Bharat Electronics: BEL signed a Rs 593.2-crore contract with the Indian Air Force for maintaining the Akash Missile System, which it had previously supplied.

• HDFC Bank: The bank was issued an administrative warning letter by SEBI for reportedly failing to comply with specific regulatory guidelines.

• Macrotech Developers: The board formed a dedicated committee of directors to examine allegations related to a brand dispute case.

• Kirloskar Oil Engines: The company received a Rs 270 crore order from the Ministry of Defence for the supply of the prototype medium-speed marine diesel engine of capacity six megawatt.

• Punjab & Sind Bank: In its business update as of March 2025, the company reported an 8.7% increase in total deposits, reaching 1.3 lakh crore, and a 16.4% rise in gross advances, totaling 1 lakh crore.

• Maruti Suzuki India: The company will raise its car prices due to rising input costs and operational expenses effective from April 8. It will also raise the price of the Grand Vitara by up to Rs 62,000.

• South Indian Bank: In its business update, the company reported a 10% increase in gross advances, reaching 88,447 crore, and a 5.5% rise in total deposits, totaling 1 lakh crore as of March 31. The CASA ratio improved to 31.37% compared to 31.15% in the previous quarter.

• Interarch Building Products: The company received a Letter of Intent for a Rs 300 crore order to manufacture, supply, and install pre-engineered steel building systems.

• Mahindra Lifespace Developers: The company has been appointed as the preferred partner for the redevelopment of two residential societies in Mumbai's Andheri West with a project value of approximately Rs 1,200 crore.

• ASK Automotive: Shalender Singh Birla resigned as the chief executive officer of operations and cable division effective from April 7.

• Prism Johnson: RLJ Cement is approaching the completion of a 0.36 MTPA cement production capacity expansion at its Uttar Pradesh plant. The company has entered into a supply agreement for the manufacture and supply of cement.

• Hindustan Copper: The company has signed an agreement with Corporacion Nacionat Del Cobre De Chite to explore mining properties and mineral beneficiation.

• Sky Gold and Diamonds: The company will establish its wholly owned subsidiary in Dubai.

• Bajaj Healthcare: Dayashankar Patel resigned as the chief financial officer effective from April 15.

• KEI Industries: The company has received a cautionary email from NSE, regarding delay in intimation of re-appointment of Independent Director.

• GE Power India: The company has received an order worth Rs 38.2 crore from NTPC for the supply of Generator parts.

• Mazagon Dock Shipbuilders: The company has started the construction of multi-purpose vessels for Navi Merchants.

• Chennai Petroleum Corp: The company has appointed H Shankar as the managing director.

• Allcargo Logistics: The company's arm Ecuhold NV acquire additional 10% stake in Japan-Based Ecu Worldwide for $220,000.

• Reliance Industries: The company plans to make an investment of Rs 65,000 crore for its 500 compressed biogas plants in Andhra Pradesh.

• Royal Orchid Hotels: The company has entered into an agreement with the Karnataka State Tourism Development Corp. to renew the land lease deed for Hotel Royal Orchid in Bengaluru.

• Borosil: The company’s unit will make an investment of Rs 40 crore to set up a manufacturing plant in Rajasthan.

• Caplin Point Laboratories: Hong-kong based unit will make an investment in Neoethicals Chile SpA.

• Lupin: The company's UK-based arm gets into agreement to acquire an entire stake in Renascience Pharma for GBP12.3 million.

• Elpro International: The company sold its remaining stake in PNB MetLife for Rs 134 crore.

• Fortis Healthcare: The company has emerged as the successful bidder for Fortis Marks at a valuation of Rs 200 crore.

• NACL Industries: Triveni Trust sold 10 lakh shares (0.5%) at Rs 123.14 apiece.

• Radiant Cash Management Services: BNP Paribas Financial Markets sold 9.58 lakh shares (0.89%) at Rs 66.3 apiece, Zaki Abbas Nasser bought 6.6 lakh shares (0.61%) at Rs 65.79 apiece.

• Asahi India Glass: Promoter Sanjay Laroo created a pledge for 1 lakh shares on March 28.

• Sastasundar Ventures: Promoter Luv Kush Projects bought 39,218 shares on March 28.

• Wardwizard Innovations & Mobility: Promoter Yatin Sanjay Gupte created a pledge for 87.83 lakh shares between March 27 and 28.

• Star Cement: Promoter Amritansh Chamaria created a pledge for 5 lakh shares on March 31.

• Go Fashion (India): Promoter Rahul Saraogi created a pledge for 4 lakh shares on March 26.

• Price Band changes from 20% to 10%: Punjab & Sind Bank.

• Ex-dividend: United Spirits.                

• List of securities shortlisted in Short-Term ASM Framework Stage 1: Mold-Tek Technologies, Jindal Worldwide.

• List of securities to be excluded from ASM Framework: SML Isuzu, Balu Forge Industries.

• Nifty April Futures up by 0.49% to 23,438 at a premium of 106 points.

• Nifty April futures open interest down by 1.6%.

• Nifty Options April 3 Expiry: Maximum call open interest at 23,500 and maximum put open interest at 23,000.

• Securities in ban period: Nil

The Indian rupee weakened by five paise against the US dollar on Wednesday ahead of US President Donald Trump's tariff announcement. The local currency ended at 85.51 against the greenback.