Asian markets traded mostly lower on Monday ahead of the deadline for the implementation of US President Donald Trump's reciprocal tariff on 2 April.

Japan's Nikkei 225 gained 0.28%, while the Topix rose 0.13%.

US stock market ended higher on Friday after US President Donald Trump's comments provided hope that previously announced tariffs expected to begin in early April may not be as burdensome as feared.

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

Source: Equitymaster

At present, the BSE Sensex is trading 656 points higher and NSE Nifty is trading 201 points higher.

L&T, Axis Bank, and Grasim Industries are among the top gainers today.

Titan, Trent, and Infosys on the other hand are among the top losers today.

The BSE Midcap index is trading 1.1% higher and the BSE Smallcap index is trading 1.2% higher.

Sectoral indices are trading positive today with stocks in the power sector, realty sector and telecom sector witnessing buying.

The rupee is trading at Rs 85.9 against the US dollar.
 

L&T Approves Fundraising

Larsen & Toubro (L&T) has secured board approval to raise up to Rs 120 bn through various debt-based instruments.

The fundraising will include external commercial borrowings, term loans, non-convertible debentures, or other suitable financial instruments.

Additionally, L&T has appointed Subramanian Sarma, currently Whole-Time Director and President, Energy, as the Deputy Managing Director and President, effective 2 April, with his tenure extending until February 2028.

Meanwhile, the company's Buildings & Factories (B&F) division has secured a significant order worth Rs 25 bn to Rs 50 bn from Brigade Group for the construction of residential and commercial towers in Hyderabad and Chennai.

M&M Vehicle to Hike Prices

Mahindra & Mahindra (M&M) has announced a price hike of up to 3% on its SUVs and commercial vehicles, effective April 2025.

The company attributed the increase to rising input and commodity costs, with the extent of the hike varying across models.

On Friday, M&M shares closed 1.45% lower at Rs 2,787.20 on the NSE. Several automakers, including Maruti Suzuki, Hyundai, Honda, Tata Motors, Kia, and BMW, have also raised prices this week, citing similar cost pressures.

In February 2025, M&M's domestic sales reached 23,880 units, up from 20,121 units in February 2024. Total tractor sales, including exports, stood at 25,527 units compared to 21,672 units last year, with exports at 1,647 units.

Additionally, M&M has officially commenced deliveries of its highly anticipated born-electric vehicles, the BE 6 and XEV 9e, in India.
 

Carysil to Increase Production Capacity

Carysil, a premium kitchen solutions provider, has announced plans to invest Rs 5 bn to enhance its manufacturing capacity across kitchen sinks, faucets, and appliances in India as part of its long-term growth strategy.

The company has allocated Rs 1 bn to double its sink production capacity from 1 million to 2 million units annually.

Additionally, Rs 500 m will be used to expand stainless steel sink production to 2.5 lakh units per year.

For kitchen faucets, Carysil plans to invest Rs 300 m to scale up production to 50,000 units per year, while Rs 200 m is earmarked for manufacturing 50,000 built-in kitchen appliances annually.

Over the past five years, Carysil has invested Rs 3 bn across India and global markets to strengthen its capacity and product portfolio. The company, with an annual revenue of Rs 8 bn, generates around Rs 1.5 bn from India and exports to 58 countries, including the US, the UK, and Europe.
 

Alembic Pharma Clears USFDA Inspection

Alembic Pharmaceuticals Ltd. announced that its active pharmaceutical ingredient (API) plant in Karakhadi, Gujarat, has successfully cleared a United States Food and Drug Administration (USFDA) inspection.

The inspection, conducted from March 17 to 21 at the API-III facility, concluded without any Form 483 observations, according to a stock exchange filing.

A USFDA Form 483 is issued when regulators identify potential compliance issues during an inspection, covering aspects such as facilities, processes, and quality controls. The absence of such observations reinforces Alembic Pharma's strong regulatory compliance.

Looking ahead to fiscal 2026, Alembic's US pipeline appears promising, with anticipated launches of Sacubitril, Ticagrelor, Dasatinib, and Rivaroxaban.

These drugs are expected to contribute $40-50 million in combined sales, supporting a robust 15-20% growth in the US market, according to a note from IIFL Capital.

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