Market News
5 min read | Updated on July 09, 2025, 08:27 IST
SUMMARY
Stocks to Watch: Shares of metal companies will be in focus as US President Donald Trump announced that copper entering the US from other countries is set to face a new tax of 50%. Reacting to the announcement, US Comex copper futures jumped more than 12% to a record high.
The GIFT NIFTY futures suggest that the NIFTY50 index will open 24 points lower. | Image: Shutterstock
“We’ll be announcing something very soon on pharmaceuticals,” he said, increasing pressure on the sector. “We're going to give people about a year, year and a half to come in, and after that they’re gonna be tariffed if they have to bring the pharmaceuticals into the country at a very high rate, like 200 per cent," Trump said.
Besides, pharma stocks will be in focus also because of the news that the Goods and Services Tax (GST) Council is likely to consider a clarificatory relief on the availability of Input Tax Credit (ITC) on free drug samples provided by pharma companies to doctors and hospitals.
Its sales bookings, or pre-sales, stood at ₹3,120 crore in the year-ago period.
In a regulatory filing, the company said it sold 778 homes in April-June 2025 compared to 968 units in the year-ago period.
In terms of volumes, pre-sales dipped 20% to 16 lakh sq ft.
Operations have since resumed at NINL, and the relining of G Blast Furnace is progressing and is expected to be completed in July 2025.
However, on a quarter-on-quarter (q-o-q) basis, the production was lower by 5% compared to 7.63 MnT during January-March or the last quarter of FY25, primarily due to planned maintenance shutdowns of blast furnaces, JSW Steel said in a filing.
Following planned maintenance shutdowns, the blast furnaces have been restarted and are operating at optimum capacity levels, the company said.
US-based Nexus Venture Partners, through its affiliates – Nexus Opportunity Fund II and Nexus Ventures III – offloaded a total of 50 lakh shares, amounting to a 4.63% stake in Gurugram-based India Shelter Finance Corp, as per the bulk deal data on the NSE.
The shares were disposed of in the price range of ₹850.85-₹850.88 apiece, taking the combined deal value to ₹425.45 crore.
After the latest transaction, Nexus Venture Partners' holding in India Shelter Finance Corp has come down to 10.62% from 15.25%.
The company had sold 3,29,847 units in the April-June quarter of FY25.
Global wholesales of passenger vehicles were lower by 10% year-on-year at 1,24,809 units in the first quarter, Tata Motors said in a statement.
Jaguar Land Rover dispatches stood at 87,286 units in the April-June quarter, a drop of 11% over the same period last fiscal.
"The proposed combination comprises the acquisition of the portfolio management services business of Credit Suisse Securities (India) Pvt Ltd in India by 360 ONE Portfolio Managers Ltd and stock broking services and financial product distribution services of CS Securities by 360 ONE Distribution Services Ltd (360 Distribution)," the Competition Commission of India (CCI) said in a release.
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