Asian equity markets plunged on Monday, hitting multi-year lows, as concerns over a potential global recession intensified following the announcement of harsher-than-expected US tariffs by President Donald Trump.

The US stock market is witnessing one of its steepest losses in recent times following President Donald Trump's tariff salvo against countries across the globe.

Trump's reciprocal tariffs on the US's key trading partners have stoked fears that a full-blown trade war could severely hurt global economic growth, revive inflationary pressures, erode corporate earnings, and potentially trigger stagflation.

Here's a table showing how US stocks performed on Friday:

Source: Equitymaster

At present, the BSE Sensex is trading 2,700 points lower, and the NSE Nifty is trading 898 points lower.

Trent, Tata Motors, and Tata Steel, on the other hand, are among the top losers today.

The BSE Midcap index is trading 0.9% lower, and the BSE Smallcap index is trading 0.8% lower.

Sectoral indices are trading on negative note today with stocks in metal sector, realty sector and power sector witnessing selling pressure.

The rupee is trading at Rs 85.6 against the US dollar.
 

ITC Shares in Focus

ITC Limited, a diversified conglomerate, announced the acquisition of a 43.8% stake in Ample Foods Private Limited (AFPL) for approximately Rs 1.3 billion. This strategic investment is a mix of primary subscription and secondary share purchase. With this, ITC aims to strengthen its presence in India's fast-growing frozen, chilled, and ready-to-cook food segment.

AFPL is the parent company of well-known consumer brands such as "Prasuma" and "Meatigo," which offer a range of ready-to-cook snacks and meals, sauces, raw and deli meat, international and local marinades, cheese, and frozen products.

These brands are available across online and offline retail platforms and also through direct-to-consumer channels via their respective websites.

The acquisition aligns with ITC's broader strategy of building a robust, future-ready FMCG portfolio and capitalising on growing demand for convenient food options among urban Indian consumers.
 

L&T Forms New Subsidiary for Green Energy Push

Engineering and infrastructure giant Larsen & Toubro (L&T) has incorporated a new subsidiary named L&T Green Energy Kandla Private Limited (LTGEK), aimed at expanding its footprint in the green hydrogen and derivatives space.

The newly formed entity is a step-down subsidiary under L&T Energy Green Tech Limited, which is a wholly-owned subsidiary of L&T.

LTGEK has been established with an authorised and subscribed capital of Rs 1 lakh, divided into 10,000 equity shares of Rs 10 each.

Though operations are yet to begin, LTGEK will focus on developing and scaling green hydrogen and related derivatives such as green ammonia.

L&T stated that this move is part of its long-term strategy to contribute to clean energy transition and reduce dependency on fossil fuels.

Since the investment is within the group structure, it is classified as a related party transaction but was conducted at arm's length. The incorporation did not require any government or regulatory approvals.

L&T is one of India's largest and most diversified conglomerates, operating in engineering, construction, manufacturing, technology, and financial services.

With a presence in over 30 countries, the company is renowned for executing large-scale infrastructure, power, defence, and hydrocarbon projects.
 

Nykaa Expects Strong Q4 Growth

FSN E-Commerce Ventures, the parent company of beauty and fashion retailer Nykaa, has projected continued momentum in Q4 FY25, with consolidated net revenue expected to grow in the low to mid-20% range on a year-on-year basis.

For the full financial year FY25, the company anticipates revenue growth in the mid-20% range. Nykaa attributes the growth outlook to ongoing investments in customer acquisition, retail network expansion, and the healthy performance of both in-house and acquired brands.

In Q4 alone, the company added 19 new physical stores to its retail network.

However, it expects a sequential dip in net revenue growth compared to Q3 FY25 due to muted performance of Nykaa Fashion's owned brands and lower content-driven marketing activities, which generally peak during the festive third quarter.

In Q3 FY25, Nykaa reported a sharp 51.3% year-on-year jump in net profit to Rs 26.41 crore, driven by festive season demand, up from Rs 17.45 crore a year ago.

FSN E-commerce Ventures Ltd. popularly known as "Nykaa" is a digitally native consumer technology platform, delivering a content-led, lifestyle retail experience to consumers.

The company has a diverse portfolio of beauty, personal care, and fashion products, including owned brand products manufactured by it.

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