Mahindra & Mahindra reported a robust 24% increase in consolidated net profit, reaching ₹4,083 crore, driven by strong performances in its auto and farm sectors. The company experienced significant market share gains in SUVs and tractors, with overall revenue expanding by 22% to ₹45,529 crore.

The bank has engaged Navi Mumbai-based Special Situation Advisors India to find a buyer for 67 large corporate accounts within the next four months. These accounts include Videocon Industries, Frost International, Rotomac Global, Lanco Infratech and ABG Shipyard aggregating to a total outstanding exposure of more than Rs 12,224 crore for the bank, documents accessed by ET showed.

Tata Motors offer is aimed at acquiring 100% of Iveco s common shares with a subsequent delisting of Iveco Group from the Euronext Milan stock exchange. The all-cash offer valued Iveco at about Rs 3.8 billion ($4.4 billion). Both companies believe that having Iveco operate as a wholly-owned unit of the Mumbai-based automaker is crucial for its sustainable success and long-term value creation. Iveco has a diversified business with 74% of revenues from Europe and the rest from South America, Africa, and Oceania.

The Indian rupee is anticipated to decline further, potentially reaching historic lows, after the U.S. imposed 25% import tariffs on India. This decision by President Trump led to a weaker rupee in offshore markets, signaling a potentially weak opening in the local spot market.

The Federal Reserve maintained its key short-term interest rate, defying President Trump s persistent calls for a reduction. The rate remains at 4.3%, a level established after three cuts last year, with officials citing the need to assess the impact of Trump s tariffs on inflation and the economy.

Indian equities are expected to decline following Trump s tariff announcement, as indicated by a drop in GIFT Nifty futures. Nilesh Shah of Kotak Mahindra AMC anticipates a negative market reaction, despite expectations of a trade deal due to aligned US-India strategic interests. Export-oriented sectors are likely to face the most significant impact.

Analysts predict significant returns for NTPC, Ather Energy, and Varun Beverages. CLSA projects a 35.4% upside for NTPC, citing continued re-rating. NUVAMA initiates coverage on Ather Energy with a buy rating, anticipating strong growth in the EV sector. HSBC reiterates a buy rating for Varun Beverages, forecasting a 22.6% upside due to attractive valuations and growth potential.

Spandana Sphoorty Financial s ₹400-crore rights issue, opening August 1, has secured participation from its top 10 institutional investors, including Kedaara Capital, which holds 48.13%. Despite a net loss in FY25, the company aims to restore stakeholder confidence through this issue. Kedaara Capital may extend its investment beyond its scheduled exit in September 2026.

Vedanta Resources aims to prepay a $550 million private credit facility by raising $700 million from banks like Barclays and Standard Chartered, seeking investor consent for early repayment. This refinancing targets a lower interest rate, around SOFR + 400-500 basis points, significantly reducing borrowing costs.

Indian markets closed marginally higher on Wednesday as FMCG and IT gains were negated by selling in auto and banking stocks. Nifty remained below its 50-day EMA, signaling near-term weakness, though technical patterns hint at a potential upside.