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Indian equity indices rebounded strongly, recovering last week's losses, fueled by SBI's impressive Q1 results and optimism surrounding the upcoming Trump-Putin meeting. Short covering was observed ahead of the summit, with PSU banks gaining traction. However, caution remains due to technical indicators and geopolitical factors, including US tariffs on Indian goods.
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News and Media
PG Electroplast shares faced a sharp decline. This electronic manufacturing service provider witnessed a significant drop in Mumbai trading. Weaker revenue guidance and first-quarter earnings impacted the stock. Institutional investors like the Government of Singapore and Motilal Oswal Mutual Fund are affected. Brokerages like Nuvama and JM Financial reduced target prices. The company's net profit shrank, contributing to investor concerns.
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Lenders are contemplating waiving administrative charges to provide immediate relief to small and medium enterprises impacted by steep US tariffs on India, following government encouragement. While broader measures like interest rate discounts are account-specific, banks will consider forgoing penal interest on late payments. The government is also developing a comprehensive plan to support affected exporters.
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News and Media
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