Asian shares declined on Friday, tracking losses in US equities, as concerns over impending 'reciprocal tariffs' and an escalating trade war outweighed upbeat data showing stronger-than-expected US economic growth.

Wall Street fluctuated between slight gains and losses on Thursday as investors weighed President Donald Trump's latest trade move, which pressured auto stocks, while also assessing a range of economic data.

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

Source: Equitymaster

At present, the BSE Sensex is trading 14 points lower, and the NSE Nifty is trading 9 points higher.

ONGC, NTPC and Asian Paints are among the top gainers today.

Cipla, Zomato and L&T, on the other hand, are among the top losers today.

The BSE Midcap index is trading 0.6% higher, and the BSE Smallcap index is trading 1.1% higher.

Sectoral indices are trading mixed today with stocks in telecom sector, and oil & gas sector witnessing buying. Meanwhile stocks in auto sector and IT sector witnessing selling pressure.

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

Force Motors New Order Win

Force Motors Limited has secured a significant contract to supply 2,978 Force Gurkha light vehicles (GS 4X4 800 kg Soft Top) to the Indian defence forces.

The order was placed by the Directorate General of Capability Development (CD-13/14), General Staff Branch, IHQ of the MoD (Army), New Delhi. As the L1 vendor for this procurement, Force Motors will deliver the vehicles in multiple tranches over a period of up to three years.

Designed to meet the operational demands of both the Indian Army and the Indian Air Force, these vehicles highlight Force Motors' expertise in manufacturing mission-ready defence vehicles.

The company has long been a key supplier to the defence sector, with its Gurkha LSV (Light Strike Vehicle) recognized for its durability, off-road capability, and adaptability.

Engineered for extreme conditions, the Force Gurkha stands out with its superior ground clearance, highest-in-class water wading capacity, and exceptional manoeuvrability.

Its robust construction, reliable drivetrain, and advanced 4x4 capabilities make it an optimal choice for armed forces, ensuring operational readiness across diverse terrains, from deserts to mountainous regions.

BEL Order Book Crosses Rs 184 Billion

Bharat Electronics Limited (BEL), the state-run defence electronics company, announced on 27 March that it has secured additional orders worth Rs 13.9 bn since its last update on 12 March 2025.

These orders encompass a range of critical defence and communication systems, including radar spares, radar upgrades, electronic voting machines, simulators, advanced land navigation systems, stabilizers for tanks, fire control systems for ship-based decoys, and communication equipment.

With this latest addition, BEL's total order inflow for the current financial year has climbed to Rs 184.2 bn.

Earlier in March, the company secured a Rs 24.6 bn contract (excluding taxes) from the Ministry of Defence for the supply and servicing of Ashwini Radars for the Indian Air Force.

These fully indigenous active electronically scanned array (AESA) radars have been jointly developed by the Defence Research and Development Organisation (DRDO) and BEL, reinforcing India's self-reliance in advanced defence technology.
 

BPCL & ONGC to Secure Aramco Investment

Saudi Aramco is in discussions to invest in two upcoming refinery projects in India, aiming to establish a stable crude supply in one of the world's fastest-growing energy markets, according to sources familiar with the matter.

India, the third-largest oil consumer globally, seeks to expand its refining capacity as Western nations scale back crude processing in favour of cleaner energy.

Meanwhile, Saudi Arabia's share of Indian oil imports has declined, with refiners diversifying sources to secure cost-effective alternatives, including Russian crude.

Aramco is in separate talks to invest in Bharat Petroleum Corporation's (BPCL) planned refinery in Andhra Pradesh and Oil and Natural Gas Corporation's (ONGC) proposed refinery in Gujarat. Both companies are state-controlled.

While ONGC's Gujarat project is still in the early stages, BPCL has outlined a US$ 11 billion (bn) investment plan for its Andhra Pradesh refinery and petrochemical complex.

However, sources indicate that both projects will proceed regardless of Aramco's involvement.

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