The stock market had a rough day as Dalal Street saw a see-saw trading session before crashing in the final hours. After swinging up and down all day, the benchmark indices ended up dropping by about 1.5% affected by uncertain policies that Donald Trump might implement.
Ravi Singh, SVP – Retail Research, Religare Broking, said, “India’s benchmark equity index, the Sensex, saw a slight decline on Tuesday due to a combination of disappointing earnings reports and concerns over global economic growth. Market sentiment turned cautious after US President Donald Trump’s announcement of trade tariffs on neighbouring countries, creating uncertainty around global trade dynamics. This move fuelled concerns over potential disruptions in international trade, leading to a pullback in domestic equities.”
HDFC Bank, Hindustan Unilever (HUL), and Tata Communication will be announcing their Q3 FY25 results today, hence their stocks will likely see some action.
Jio Financial Services – The Jio-BlackRock partnership is moving forward, with both companies putting in another Rs 117 crore for about 5.85 crore shares in their joint venture.
HCLTech is expanding its presence down south, opening up a massive new centre in Hyderabad that’ll house 5,000 people.
Zomato – Zomato is having a bit of a tough time as its shares dropped for the second day running, taking an 11% hit yesterday. Their latest results showed profits falling from Rs 138 crore to Rs 59 crore compared to last year – that’s a pretty steep 57% drop.
ICICI Prudential Life Insurance saw their profits jump by 43%, reaching Rs 325 crore this quarter. Tata Technologies had a slight dip though, with profits edging down from Rs 170 crore to Rs 169 crore.
JSW Steel signed a deal with Maharashtra for a massive Rs 3-lakh crore investment. PNB Housing Finance posted solid numbers with Rs 471 crore in profits and Rs 764 crore in net interest income.
Dalmia Bharat reported Rs 66 crore in profits with revenue hitting Rs 3,181 crore. And IndiaMart Intermesh had positive news too, with profits up 36% to Rs 125 crore.
