Asian stocks bounced back after the worst day on record, snapping a global slump sparked by concerns that President Donald Trump's trade war will hurt economic growth. Treasuries steadied after Monday's sharp selloff, while US equity-index futures rose.

US stocks have mostly closed lower after a day of wild swings in the market, as investors scramble to make sense of United States President Donald Trump's tariff plans.

The benchmark S&P 500 and Dow Jones Industrial Average on Monday fell 0.2% and 0.9%, respectively, racking up a third conservative day of losses. Meanwhile, the tech-heavy Nasdaq Composite finished slightly up.

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

Source: Equitymaster

At present, the BSE Sensex is trading 989 points higher, and the NSE Nifty is trading 307 points higher.

Titan, SBI, and JSW Steel are among the top gainers today

TCS, on the other hand, was among the top losers today.

The BSE Midcap index is trading 1.5% higher, and the BSE Smallcap index is trading 1.8% higher.

Sectoral indices are trading on a positive note today, with stocks in the consumer durables sector, realty sector, and telecom sector witnessing selling pressure.

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

Titan Q4 Update

Titan Company closed FY25 on a strong note, reporting a 25% year-on-year growth in Q4, driven by broad-based performance across its key businesses. The company added 72 net stores during the quarter, taking its total retail network to 3,312 stores.

The jewellery segment, Titan's largest, grew 24% YoY, supported by higher gold prices. Plain gold jewellery saw a 27% rise, while gold coin sales jumped 65%, showing consumer preference for both adornment and investment. However, high gold prices impacted demand at lower price points, with overall buyer growth remaining in the single digits.

The premium segment continued to perform well, with a high double-digit increase in average ticket sizes. Studded jewellery grew in low double digits, and the solitaire category saw a turnaround.

The watches and wearables segment grew 20% YoY, helped by strong sales of analogue watches across Titan, Fastrack, and Sonata.

Titan's EyeCare division posted 18% YoY growth, supported by increased demand for international eyewear brands and rising e-commerce sales.

Titan, a leading company under the Tata Group, has established itself as a dominant player in India's watch and wearables market.

Leveraging the premiumisation trend and growing opportunities in travel retail, Titan's multi-brand retailer, Helios, plans to expand its presence by opening six exclusive outlets this financial year, with a target of over 30 stores in the next two years.
 

KPI Green Energy Terminates Hybrid Power Project

KPI Green said it has terminated the order from Sai Bandhan Infinium for a 66.20 MW hybrid power project over change in project technical requirement post receipt of order. The project, to be executed for captive consumption by Sai Bandhan Infinium, was set for completion by July 2025.

Under CPP category, KPI develops, transfers, operates and maintains grid-connected solar power projects for commercial and industrial customers and generates revenue by selling these projects to the customers for their self-consumption.

It enters into a turnkey agreement with CPP customers, enabling them to use a common pool of its grid-connected land to generate solar power and evacuate power using the transmission line from solar plants to the nearest GETCO Substation.

Sai Bandhan Infinium (now known as Sai Infinium) is a Gujarat-based green ship recycling company in Alang, Gujarat. The company also has an integrated steel manufacturing plant at Bhavnagar.

M&M Incorporates New Subsidiary

Shares of Mahindra and Mahindra (M&M) gained over 2% to Rs 2,548 on 8 April after the company announced the incorporation of a wholly owned subsidiary named Mahindra Advanced Technologies Limited (MATL), with a total subscription of Rs 50 million (m).

MATL is established under the manufacturing and allied services category and is set to concentrate on technologies related to security.

The formal incorporation of the new entity was completed on 7 April 2025, in Mumbai, Maharashtra, following board approval which had been granted earlier on 7 February 2025.

M&M has subscribed to 5 m equity shares of Rs 10 each at par value in this newly formed entity, resulting in complete ownership, 100% stake, in MATL.

During FY25, M&M recorded a significant rise in sales, reaching 5.1 m units, a notable increase from 4.3 m units sold in FY24.

This exceptional growth in sales propelled M&M's market share from 10.8% to 12.3%, placing the company within close range of overtaking Tata Motors to secure the third position in India's highly competitive passenger vehicle (PV) market.

Additionally, M&M's market share in the electric vehicle (EV) segment also rose to 7.6% in FY25, compared to 6.7% in the previous year.

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