​What the market has lacked for quite a while since April 2nd is any form of certainty. And while I do not think we have any certainty from these discussions, there is at least a positive movement towards trying to rectify some of these trade issues.

US President Donald Trump highlighted his good personal relationship with Chinese President Xi Jinping, suggesting that a breakthrough could be possible.

Reliance Industries Q4 profit is expected to decline 5% YoY due to a weak O2C business, despite anticipated growth in the retail and Jio sectors. While consolidated EBITDA is projected to rise slightly, driven by telecom tariff hikes and retail improvements, O2C performance is expected to drag overall earnings down.

Nestle saw a rise in sales. The company s first-quarter organic sales grew more than expected. This is because the price of Kit-Kat and Nescafe increased. CEO Laurent Freixe says the company is maintaining its 2025 outlook. Nestle expects organic sales growth to improve. The company estimates a profit margin at or above 16%.

Nokia s first-quarter profit significantly missed market expectations, reporting 156 million euros against an expected 243.83 million euros. The company anticipates a 20-30 million euro hit to its second-quarter profit due to U.S. tariffs, potentially impacting its growing North American sales. Despite this, Nokia confirmed its full-year outlook and announced a strategic 5G partnership extension with T-Mobile.

BNP Paribas reported first-quarter earnings aligning with expectations, propelled by robust sales in its investment banking division. Despite a 4.9% year-on-year dip in group net income to 2.95 billion euros, attributed to the re-inclusion of its Ukrainian operation, the bank s core divisions demonstrated growth.

HUL Q4 Results: Revenue from operations grew 2.4% year-on-year to ₹15,214 crore, up from ₹14,857 crore in the corresponding quarter last year. EBITDA edged up to ₹3,466 crore from ₹3,435 crore, though the EBITDA margin slipped by 30 basis points to 23.1%.

Hyundai Motor s first-quarter operating profit increased by 2%, aligning with analysts expectations. The rise was driven by accelerated customer purchases in anticipation of U.S. tariffs and a favorable exchange rate due to a weak South Korean won. The company reported an operating profit of 3.6 trillion won for the period.

​So, even though India is less affected from an export point of view because exports are a smaller share of the economy compared to other parts of Asia, in particular Southeast Asia, India is still caught up and we are seeing slightly weaker growth projections expected for this year.

Maruti Suzuki India is projected to reveal Q4FY25 revenue growth between 4% and 10%, driven by volume increases and price adjustments. However, profitability might face challenges due to rising costs. Brokerages have mixed outlooks on net profit, with some anticipating slight growth while others foresee a marginal decline, influenced by factors like input costs and product mix.