Indian markets are bracing for a weak opening on July 31, 2025, after U.S. President Donald Trump announced a sudden 25% tariff on Indian goods. GIFT Nifty slipped by 196 points, while global cues remained mixed. On the corporate front, key earnings reports from Tata Steel, Mahindra & Mahindra, Hyundai Motor India, and developments at Jio Financial and Tata Motors are poised to drive stock-specific movements.
Indian equity markets are poised for a cautious start on Thursday amid escalating global trade tensions and mixed international cues. Market sentiment has been impacted by the sudden announcement of a 25% tariff on Indian goods by the United States, effective August 1, 2025, leading to downward pressure on domestic indices. GIFT Nifty futures reflected this sentiment, trading lower by 196 points at 24,650 early in the day.
Investors are also navigating developments in Asia-Pacific markets and overnight movements on Wall Street, while closely monitoring key corporate earnings and strategic announcements from prominent Indian companies.
Tata Steel Ltd, headquartered in Mumbai, is one of India’s largest steel producers, operating across Europe and Asia. The company recorded a remarkable 116.51% year-on-year surge in consolidated net profit, rising to ₹2,077.68 crore in Q1FY26 from ₹959.61 crore in the same quarter last year. The profit boost was attributed to better net realizations and cost optimization. However, the steel major’s consolidated revenue declined 2.91% YoY to ₹53,178.12 crore, reflecting muted demand.
Mahindra & Mahindra Ltd (M&M), based in Mumbai and part of the Mahindra Group, operates in the automotive and farm equipment sectors. The company posted a 24% YoY increase in consolidated net profit, which reached ₹4,083 crore in Q1FY26, up from ₹3,283 crore in Q1FY25. The robust performance was supported by broad-based growth across verticals. Its revenue from operations also grew significantly to ₹45,529 crore from ₹37,218 crore in the previous year’s corresponding quarter.
Hyundai Motor India Ltd, the Indian arm of South Korea’s Hyundai Motor Company, reported an 8.1% YoY decline in profit after tax at ₹1,369.23 crore in Q1FY26, compared to ₹1,489.65 crore in Q1FY25. The automaker attributed the slump to soft domestic demand, falling hatchback sales, and broader geopolitical and economic uncertainties. Revenue from operations also dipped 5.56% YoY to ₹16,179.62 crore from ₹17,131.25 crore.
Power Grid Corporation of India Ltd, a state-owned electric utility based in Gurugram, reported a modest 2.5% YoY dip in net profit, totaling ₹3,630.58 crore for Q1FY26. The company has also received board approval to raise its FY26 borrowing limit to ₹25,000 crore, up from the previous ₹16,000 crore, signaling plans for expanded capital expenditure.
Jio Financial Services Ltd, headquartered in Mumbai and part of the Reliance Group, has announced the issuance of 50 crore convertible warrants priced at ₹316.50 each. These warrants, convertible into equity shares of ₹10 face value at a premium of ₹306.50, aim to raise ₹15,825 crore through a preferential allotment on a private placement basis, underscoring the company’s aggressive capital mobilization strategy.
Tata Motors Ltd, a prominent automotive manufacturer based in Mumbai, announced that its wholly owned subsidiary, TML CV Holding Pte. Ltd., will launch a cash tender offer for Iveco Group N.V. The offer, facilitated through a Dutch-incorporated vehicle, aims to acquire all 271.2 crore shares of Iveco listed on Euronext Milan at €14.1 per share, following Iveco’s divestment of its defense business. The move is intended to secure complete ownership and delist Iveco.
Aurobindo Pharma Ltd, based in Hyderabad and known for its generic pharmaceuticals, reported that its U.S. subsidiary Aurobindo Pharma USA Inc. has signed a definitive agreement to acquire 100% membership interest in Lannett Company LLC from Lannett Seller Holdco, Inc. The acquisition expands Aurobindo’s presence in the U.S. market.
LTIMindtree Ltd, a digital transformation and technology consulting company headquartered in Mumbai, has unveiled BlueVerse CraftStudio, a next-generation marketing agency powered by Adobe’s AI innovations. The initiative is designed to streamline enterprise marketing operations and improve business outcomes using AI-driven solutions.
Q1FY26 Earnings Watchlist:
Companies scheduled to release earnings today include:
- Adani Enterprises
- Hindustan Unilever
- Sun Pharmaceutical Industries
- Maruti Suzuki India
- Coal India
- Vedanta
- Eicher Motors
- TVS Motor Company
- Swiggy
- Mankind Pharma
- Cholamandalam Investment and Finance Company
Amid volatile macro developments and heavy earnings reporting, the trading session is expected to remain stock-specific and sensitive to global cues.
