Analysts at Nomura also flagged a looming production risk starting June, arising from China's export restrictions on rare earth magnets-used across both EV and ICE components.
Among the sectoral market, shares of auto, FMCG, and IT companies were under pressure, while public sector banks, pharma, and realty bucked the trend and logged gains
Among sectoral indices, all but select healthcare ended in the green, with the Nifty Auto, and Nifty IT indices leading the way, gaining 1.05 per cent and 1.02 per cent, respectively
The auto-component industry which exports around $757 mn worth of parts to that country may benefit from the trade deal
TVS Motor share price: While most analysts have maintained their 'Buy' ratings on TVS Motor shares, some have shared 'Neutral' and 'Reduce' ratings on valuation concerns
The key focus during TVS Motor Company's Q4FY25 results, analysts believe, will be the e-mobility initiatives and demand outlook
After Trump announced sweeping tariffs on April 2, the Nifty Auto index had dropped over 10 per cent.
Why are markets rising today: Tata Motors, L&T, IndusInd Bank, M&M, Adani Ports, HDFC Bank, Axis Bank, ICICI Bank, Bharti Airtel, Bajaj Finance, Reliance Industries, and SBI were top gainers today
Tata Motor shares have corrected 44.52 per cent from its 52-week high of Rs 1,179.05, hit on July 30, 2024.
Emkay analysts believe a possible US recession from tariffs could reduce Nifty's FY26 earnings by 3 per cent, potentially derating the index to 21,500 in the near-term.
The Nifty Auto index, which tracks the performance of auto stocks, dropped 1.46 per cent, to hit an intraday low of 21,095 points.
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Auto stocks, on the other hand, witnessed a sell-off after US President Donald Trump announced a 25 per cent tariff on imported cars and key auto parts, effective April 3
Switch Mobility is contemplating the potential closure of its manufacturing operations in UK due to ongoing economic uncertainties and a slower-than-expected transition to EVs in public transport.
The fall in auto stocks came after the US President Donald Trump, on Wednesday, announced that he would impose a 25% tariff on all cars imported into the US that are not manufactured domestically
Technical charts suggest that the Nifty Auto index can potentially rise up to 11 per cent; Tata Motors which is oversold can bounce back up to 24 per cent from present levels. M&M, however, looks weak
According to analysts at Nuvama, the tractor industry volumes are expected to grow in double digits, with an approximately 16 per cent Y-o-Y increase in the domestic market