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.

IndiGo reported a 20% YoY fall in Q1FY26 profit to ₹2,176.3 crore, hit by flight restrictions and weak sentiment post an Air India crash. Despite revenue growth and 60% domestic market share, lower yields and fare cuts dented margins.

Securities and Exchange Board of India (Sebi) on Monday passed a confirmatory order against Gensol Engineering and its promoter-directors Anmol Singh Jaggi and Puneet Singh Jaggi upholding the April order that had prima facie found them indulging in fund diversion and falsifications of documents.

Hyundai Motor India s net profit fell by 8% to Rs 1,369.23 crore in the first quarter. Revenue also decreased by 5%. Export volumes increased by 13%, offsetting weak domestic growth. Rural sales contributed significantly. The company started engine production in Pune. They anticipate a recovery in domestic demand due to monsoon and festive season. Hyundai shares closed down by 0.