In today’s briefing:
- Ohayo Japan | Trump Tariffs Rattle Markets
- Lab Grown Diamonds: What Indian Players Are Saying?(Part-2)
- Will India’s Anti-Dumping Duty Impact the PVC Industry Players In India?
- India’s 12% Safeguard Duty: A Tailwind for Domestic Steelmakers or a Risk to Downstream Industries?
- #126 India Insight: India Plans US Tariff Cuts to Protect $66B, Meesho IPO, Temasek’s Haldiram Stake
Ohayo Japan | Trump Tariffs Rattle Markets
- U.S. stocks fell sharply as Trump’s 25% auto tariff plan targets all countries, aiming for 100 billion yen in revenue, sinking GM (-10%) & Ford (-4.5%), TM (-1.8%)
- Japan’s Nikkei rose 246 yen to 38,027, buoyed by tech gains like Nintendo (+5.3%), despite auto sector lag, with Goldwin lifting profit forecasts to 21 billion yen.
- Nissan Motor, led by President-elect Iván Espinosa, aims to hasten management by cutting new vehicle development from 55 to 30 months
Lab Grown Diamonds: What Indian Players Are Saying?(Part-2)
- Indian jewellery players like Goldiam International (GLDM IN), Vaibhav Global (VGM IN), Senco Gold (SENCO IN) are scaling up their LGD businesses, citing strong demand, better margins, and global acceptance.
- LGDs offer 40–45% margins vs. 25–30% for natural diamonds, and are driving revenue growth across these companies, signaling a shift in consumer preferences towards affordability, fashion, and ethical sourcing.
- LGDs are no longer a niche trend, they are becoming a mainstream, margin-accretive category. Early movers with direct-to-consumer reach and global alliances are poised to lead this structural shift.
Will India’s Anti-Dumping Duty Impact the PVC Industry Players In India?
- India has imposed anti-dumping duties of up to USD 707/tonne on PVC paste resin imports from six countries, including China and Korea, effective March 21, 2025.
- The move follows complaints from domestic producers citing dumping, margin pressure, and a surge in substandard resin imports disrupting market stability and quality standards.
- The duty will likely improve profitability for Indian manufacturers, stabilize resin prices, and reduce unfair competition, though it may raise costs for import-dependent sectors in the short term.
India’s 12% Safeguard Duty: A Tailwind for Domestic Steelmakers or a Risk to Downstream Industries?
- India proposes a 12% safeguard duty on key flat steel imports for 200 days, targeting low-cost shipments from FTA partners like Japan and South Korea.
- The move supports domestic steelmakers like JSW Steel Ltd (JSTL IN) and Tata Steel Ltd (TATA IN) by restoring pricing power, creating room for further price hikes of INR 1,000–1,500/Ton.
- Near-Term profitability looks up for flat-steel players, but risks from WTO pushback, MSME cost pressures, and the policy’s temporary nature warrant cautious optimism.
#126 India Insight: India Plans US Tariff Cuts to Protect $66B, Meesho IPO, Temasek’s Haldiram Stake
- India plans to cut tariffs on US imports to protect $66B in exports, negotiating trade deal amid Trump’s tariff threat.
- Meesho (1546271D IN) plans $1 Bn IPO at $10B valuation, picking top bankers; aiming for Diwali 2025 listing, surpassing Flipkart.
- Temasek Holdings Pte Ltd (TMSK SP) seeks CCI approval to acquire 10% stake in Haldiram Snacks at $10B valuation, aiming to fuel expansion.
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