Stocks in Asia followed US peers lower after a selloff in Treasuries deepened on bets the Federal Reserve won't cut interest rates again before July due to inflation risks.

US stock market indexes, S&P 500, Nasdaq, and Dow Jones, on Tuesday fell as Wall Street darling Nvidia, Tesla stocks tanked.

This has come after a batch of upbeat economic data raised concerns that an inflation rebound could slow down the Federal Reserve's pace of monetary policy easing.

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

Source: Equitymaster

At present, the BSE Sensex is trading 181 points lower and NSE Nifty is trading 41 points lower.

Axis Bank, Cipla, and ONGCare among the top gainers today.

Trent, Titan, and Tatat Motors hand are among the top losers today.

The BSE Midcap index and the BSE Smallcap index are trading 1.1% lower.

Barring the oil & gas sector and the energy sector, all other sectoral indices are trading on a negative note today with stocks in the power sector and realty sector witnessing buying.

The rupee is trading at Rs 85.83 against the US dollar.

In commodity markets, gold prices are trading marginally lower at Rs 77,441 per 10 grams today.
 

RVNL Shares in Spotlight

State-owned Rail Vikas Nigam Ltd (RVNL) shares will be in the spotlight on Wednesday, January 7, after the company signed a memorandum of understanding (MoU) with GBH International Contracting LLC (GBHIC), a Dubai-based firm, to collaborate on civil infrastructure projects in the Gulf Cooperation Council (GCC) region.

This partnership aims to leverage the strengths of both entities to identify and pursue business opportunities in the growing infrastructure sector across GCC countries.

The company's revenue from operations dipped 1.2% YoY to Rs 48.6 bn, compared to Rs 49.1 bn in Q2 FY24.

In Q2 FY25, RVNL reported a 27% year-on-year (YoY) drop in net profit to Rs 2.9 bn, down from Rs 3.9 bn in the corresponding period last year, impacted by lower operating margins and reduced earnings.
 

Ola Electric Receives Warning

Markets regulator pulled up Ola Electric Mobility in an administrative warning letter over disclosure violations. Ola Electric received the letter via email on 7 January.

According to the letter issued by Sebi, the electric vehicle manufacturer announced its expansion plans on microblogging platform X (formerly Twitter), before informing the exchanges. However, the warning has no material impact on the company's financials.
 

Tata Steel Q3 Update

Steel major Tata Steel on Tuesday said its crude steel production in the country grew by 6% to 5.7 million tonnes in the third quarter of the current fiscal.

The company's crude steel output was 5.35 MT in the corresponding quarter of the previous fiscal.

Deliveries in India reached 5.29 MT for the third quarter, up 8.4% year-on-year, due to steady sales in the domestic market and strategic presence in exports.

Tata Steel Netherlands reported liquid steel production of 1.76 million tonnes for the third quarter with deliveries at 1.53 million tonnes.

Tata Steel UK's output stood at zero for the quarter on account of closure of its blast furnaces in the second quarter of FY25. Deliveries dropped 12.5% YoY to 0.56 million tonnes.

However, the company has reconfigured its supply chain to sustain customer servicing through downstream processing of purchased substrates.

M&M's Electric Vehicle Goal

Mahindra and Mahindra (M&M), which is set to start bookings for its new electric vehicles (EVs) BE6 and XEV 9e from 14 February, aims to sell 5,000 units of these EVs per month in the initial phase of the launch. Deliveries will begin in early March.

Automotive division of M&M, said they aim to sell 5,000 units per month of these vehicles initially, which will be manufactured at their Chakan plant using 100% renewable energy. He also mentioned that test drives will begin on 14 January, starting with six cities.

On Tuesday, the company announced the prices for the new variants of these cars. In November, the automaker had unveiled what it called the BE6 ONE and XEV 9e ONE.

Pricing the new variants aggressively at Rs 26.9 lakh (BE6) and Rs 30.5 lakh (XEV 9e), the company compared them with global EVs such as Tesla, BMW, and others in terms of features, battery power, and range.

In 2025, the Harrier EV and the Creta EV are also expected, which explains Mahindra's aggressive pricing.
 

Sobha Q3 Update

Realty firm Sobha on Tuesday reported a total sales value of Rs 13.9 bn in Q3 FY25, reflecting a 28.9% decline year-on-year but a 17.8% increase sequentially, supported by a new sales area of 1.01 million square feet.

The average price realisation improved by 16.5% year-on-year and 7.8% quarter-on-quarter to Rs 13,663 per square foot. Sobha's share in the sales value stood at Rs 12.5 bn, a 27.2% increase over Q2 FY25.

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