Morning Alert..
*India eyes $25 billion export opportunity in US amid China tariff dispute*
Ahead of the Union Budget 2025-26, exporters urged the finance ministry to approve a US-focused marketing scheme worth Rs 750 crore to generate an additional $25 billion in exports to the US over the next three years. According to the Federation of Indian Export Organisations (FIEO), the US’ plan to impose higher tariffs on China presents a “significant opportunity” for Indian exports, particularly in sectors where China has been a dominant supplier. These sectors include electronics, electrical equipment, footwear, textile, garment, furniture, automotive parts, toy, and chemical. The largest gains are expected in consumer electronics, such as mobile phones, televisions, and electrical components, with an estimated $10 billion in additional exports. “For that, we need to increase our presence in the US by showcasing in numerous exhibitions, holding buyer-seller meetings, and partnering large local retailer associations. A marketing scheme focusing on the US, with a corpus of Rs 250 crore per year (Rs 750 crore overall) for three years, maybe launched to generate additional exports of $25 billion by the end of three years,” FIEO President Ashwani Kumar said. In addition, FIEO has requested a tax deduction of 200-250 per cent for research and development spending under Section 35(2AB) of the Income-Tax Act to foster product innovation.
*Global market action*
Dow Jones – Down by 0.17% or 75.39 points
FTSE – Holiday
CAC – Holiday
DAX – Holiday
Gift Nifty – Up by 0.31% or 73.00 points
*FII/DII activities*
FII – Sold 2376.67Cr worth of shares
DII – Bought 3336.16Cr worth of shares.
*Stocks with high delivery percentage*
VIP Industries Ltd – 86.5%
Zydus Wellness Ltd – 79.1%
PI Industries Ltd – 78.7%
Patanjali Foods Ltd – 76.8%
Westlife Foodworld Ltd – 75.9%
*Primary market activities*
IPO opening today
Citichem India Ltd (BSE SME) – Issue size 12.60Cr
Listing today
Transrail Lighting Ltd (Main board) – Subscribed 81.98x
Mamata Machinery Ltd (Main board) – Subscribed 194.95x
DAM Capital Advisors Ltd (Main board) – Subscribed 81.88x
Newmalayalam Steel Ltd (NSE SME) – Subscribed 50.69x
Concord Enviro Systems Ltd (Main board) – Subscribed 10.67x
Sanathan Textiles Ltd (Main board) – Subscribed 36.9x
*Commodities updates*
Gold – Rs 76820/10gm, Silver – Rs 89647/kg, Brcrude – Rs 5985/barrel, copper – Rs 803/kg.
*Corporate News*
Gensol Engineering bags Rs 897 crore solar project contract from NTPC REL.
MP High Court stays Religare's AGM and open offer by Burman family.
L&T eyes 20% growth in construction, mining machinery biz in FY26.