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As 3:40 p.m. India time, the Dow Jones Industrial Average and S&P 500 futures were trading 0.23%% and 0.33% lower, respectively. The Nasdaq 100 future was trading 0.44% down.
Rupee strengthened by 65 paise to close at 86.83 against the US Dollar. It closed at 87.48 on Monday.
Source: Bloomberg
Godrej Agrovet has approved re-appointment of Balram Singh Yadav as managing director effective May 1 up to Aug. 31, 2025.
Source: Exchange Filing
Trump's Tariffs Invoke Fear Of Excess, To Further Weaken Steel Prices For Indian Producers
To track live third quarter earning updates click.
Bharat Forge's arm, Kalyani Strategic Systems, has signed a Memorandum of Understanding (MoU) with L3Harris Technologies to support advanced defense and security equipment in India.
Tata Consultancy Services Ltd. has partnered with Muscat Clearing & Depository to modernize its operations.
Got orders worth Rs 55,000 crore in last 9 months taking total order book to Rs 1.3 lakh crore.
Expect additional order for 97 LCA Mk-1A and 156 LCH worth Rs 1.3 lakh crore
The current and prospective orders will give order backlog of 6-7 years.
HAL - One LCA Mk-1 aircraft from Nashik will be ready by March.
First engine in March. Ge to deliver 12 engines in 2025 calendar year.
Source: Hindustan Aeronautics Chairman & Managing Director DK Sunil
Bondada Engineering has received a Letter of Award for an order worth Rs 228 crore from South Central Railways.
Banned LSIL from markets, its promoter Profound Finance Pvt Ltd, and key individuals.
Action followed NDTV Profit story from Feb 3, 2025, on co’s suspicious Rs.5,500 crore market cap.
SEBI found major price manipulation, misleading disclosures, and suspicious trading.
LS Industries had negligible revenue but saw stock rise 1,089% in two months.
Key entities inflated prices, later dumped shares, causing investor losses.
SEBI froze accounts, barred trading, and ordered further investigation.
Source: SEBI Order
Large caps lose around Rs 1.84 lakh crore market cap today
Mid caps lose around Rs 1.66 lakh crore market cap today
Small caps lose around Rs 1.06 lakh crore market cap today
Top Market Cap Losers Today
HDFC Bank: Around Rs 10,500 crore
Zomato: Around Rs 9,200 crore
Tata Consultancy Services: Around Rs 8,600 crore
Eicher Motors: Around Rs 8,200 crore
Varun Beverages: Around Rs 7,100 crore
Rupee jumped 84 paise against US Dollar to day's high of 86.64
It opened at 87.35 a dollar on Tuesday
The Indian unit closed at 87.48 a dollar on Monday
Source: Cogencis
The NIfty 50 is struggling to hold above the key support level of 23,300. It is down 0.35% or over 80 points.
The Nifty 50 and Sensex opened lower on Tuesday. The Nifty dropped 0.18% to below 23,350 while the Sensex was down 0.16% to below 77,200.
The Indian Steel Association has expressed deep concern over the US decision to impose tariffs on steel imports. The ISA is urging the Indian government to push for the removal of longstanding anti-dumping and countervailing duties and to secure exemptions from these restrictive measures, said Naveen Jindal, the president of the lobby group.
The latest tariff is expected to slash steel exports to the US by 85%. These tariffs could lead to a massive steel surplus that will likely flood the Indian market, ISA warned.
India’s carbon steel exports to the US are negligible due to longstanding ADD and CVD measures, yet this decision will add to the misery and further aggravate the situation. The tariffs could lead to market distortions, price crashes, and unfair competition for India.
(Source: Statement)
The yield on the 10-year benchmark bond declined 2 bps to open at 6.69%. It closed at 6.71% on Monday.
Source: Bloomberg
The rupee strengthened by 13 paise to open at 87.35 against the US Dollar. It closed at 87.48 on Monday.
Source: Bloomberg
Nuvama and UBS Global Research reduced Eicher Motors' target price, after the company's weaker-than-expected performance in the third quarter.
Eicher Motors launched five products during October–December, and employed more on marketing during festive season, which weighed on its earnings, according to UBS Global Research.
The company missed Nuvama's Ebitda estimates for the quarter because of adverse product mix and higher marketing expenses, the brokerage said.
Nevertheless, Nuvama raised revenue estimates for Eicher Motors by 4–7% for financial year 2025 and 2027.
Read Eicher Motors Q3 Review here.
Shares of Grasim Industries, Eicher Motors, Apollo Hospitals, Nalco, Sun Pharma Advanced, FSN ECommerce (Nykaa), TVS Supply Chain, HBL Engineering, Crisil, Honda India, Elgi Equipments, MTAR Technologies, Bata India, Escorts Kubota, and Patanjali Foods will be among the major ones in focus after they reported their Q3 results on Monday after market hours.
Check their Q3 earnings snapshot here.
Swiggy Ltd., FSN E-Commerce Vantures Ltd. and Eicher Motors Ltd. were among the top companies on brokerages' radar on Tuesday.
Further, Bernstein maintained a cautious outlook on India, with low-volume stocks as their preference. In their note they also said that the auto sector could present potential opportunities.
Citi has initiated a 'buy' rating for Swiggy, amid improved gameplay and its long-term growth outlook in food delivery and quick commerce.
Here are the analyst calls to keep an eye out for on Tuesday.
Rupee Closes Weaker Against US Dollar After Opening At Record Low
The Nifty indicated weakness by forming a red candle on the daily scale, according to Hrishikesh Yedve, assistant vice president of technical and derivatives research at Asit C. Mehta Investment Intermediates Ltd.
It has been forming a bearish candle for the past four days and is struggling to maintain higher levels, according to Hardik Matalia, derivative analyst at Choice Broking. "This pattern suggests a pause in the ongoing breakout, requiring confirmation for a sustainable move," Matalia said.
The 50-day simple moving average is placed around 23,740 on the upside, which will act as a crucial hurdle for the index, followed by 23,800, Yedve said.
On the downside, 23,300 serves as a key support level, according to Matalia and a break below this mark could set off extended selling toward 23,000.
On the upside, immediate resistance is seen at 23,500, Matalia said.
"Sustaining below 23,290 could extend further weakness in the index. Traders should closely monitor these levels for potential opportunities," Yedve said.
Matalia recommends traders maintain strict stop-loss measures due to heightened market volatility and avoid overnight positions to protect their capital.
"For a continued uptrend, the Nifty index must sustain above the 23,800 mark, Matalia said.
The Bank Nifty has formed a small red candle near its previous breakout point of 49,650 on the technical levels, according to Yedve. He recommended a buy-on-dips strategy to be implemented for Bank Nifty as long as it remains above the support level of 49,650.
"On the upside, 50,600 will act as a stiff resistance for Bank Nifty in the short term," Yedve said.
Stocks To Watch: Escorts Kubota, Piramal Enterprises, Lupin, Eicher Motors
Donald Trump Sets 25% Tariffs On Steel, Aluminum As Trade War Widens
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