Pharma scrips fall on Trump tariff threat
Pharma scrips fall on Trump tariff threat
NEW DELHI: Pharma stocks fell up to 4% on Tuesday after US President Donald Trump said there could be potential tariffs on the sector soon. Granules India and Lupin were top losers, dropping nearly 4% each.
Laurus Labs and Aurobindo followed, plunging 3% each, while Natco fell by over 3% on BSE. Sun Pharma and Dr Reddy's fell 2% each. Several domestic companies get significant revenue from the US, ranging 30-40% in certain cases.
The Nifty Pharma index lost nearly 2% to close at 21,623 and emerged as top sectoral loser. Media reports say Trump, on board Air Force One, said tariffs on pharmaceutical imports are coming "very soon".
Stay informed with the latest
business
news, updates on
bank holidays
and
public holidays
.
AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
36 minutes ago
- Time of India
Oil stocks in focus as crude hits 5-month high after U.S. strikes Iranian nuclear sites
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Shares of oil and gas companies are expected to be in focus on Monday after crude oil prices surged to their highest levels since January, following U.S. airstrikes on key Iranian nuclear facilities. Brent crude futures rose $1.88, or 2.44%, to $78.89 a barrel as of 11:22 GMT, while U.S. West Texas Intermediate (WTI) crude gained $1.87, or 2.53%, to $ in the session, both benchmarks jumped over 3%, with Brent touching $81.40 and WTI reaching $78.40—both five-month highs—before paring some sharp rise came after U.S. President Donald Trump announced that the U.S. had 'obliterated' Iran's main nuclear sites over the weekend in coordination with Israeli forces. The escalation has raised fears of further instability in the Middle East, with Iran vowing to a key OPEC member, is the bloc's third-largest crude producer. The latest developments have sparked concerns that Tehran could move to block the Strait of Hormuz—a critical waterway that handles nearly 20% of global crude Press TV reported that its parliament has approved a measure to close the strait. While Iran has made similar threats in the past, it has never followed the conflict began on June 13, Brent has surged 13%, while WTI is up around 10%.Analysts, however, cautioned that the current geopolitical risk premium may not sustain unless there is a tangible disruption in global oil supply.: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of Economic Times)
Time of India
36 minutes ago
- Time of India
'Bullseye': Trump claims 'monumental damage' inflicted on Iranian nuclear sites
President Donald Trump asserted on his Truth Social platform that Iran's nuclear sites sustained "monumental damage" in the American attack, though a US assessment on the strikes is still underway. "The biggest damage took place far below ground level. Bullseye!!!" he wrote. US defence officials have said they are working to determine about just how much damage the strikes did. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like LG, KT, SK 모든 통신사 개통당일 현금 100만원 당일 지급! 똑똑하게 돌려받자! 인싸통 더 알아보기 Undo Iran as well has not said how much damage was done in the attack, though Tehran has not offered any details so far on the strikes it has faced from Israel in its war with that country. Iran likely filled in tunnels at nuclear sites ahead of US strikes Live Events An analysis of satellite photos by a nuclear nonproliferation group based in Washington shows Iran likely filled in tunnels at its nuclear site at Isfahan ahead of US strikes early Sunday. The Washington-based Institute for Science and International Security published satellite images taken by Airbus it assessed showed trucks dumping soil into tunnels at the site on Friday. The US attack likely targeted the tunnel entries, the group said. "At least three of the four tunnel entrances are collapsed," it said. "The status of the fourth one is unclear." Iran also is believed to have filled in tunnels at its underground Fordo enrichment facility before the American strike. That may have been to protect the sites from the strikes. Meanwhile, the US cruise missile strike at the Isfahan site likely destroyed its uranium conversion facility, the Institute for Science and International Security said. That facility takes natural uranium and turns it into uranium hexafluoride, which is what Iran spins in centrifuges to enrich. Australia endorses US strikes, FM says Australia's Foreign Minister Penny Wong said her government endorsed the US strikes. "We support action to prevent Iran getting a nuclear weapon and that is what this is," she said. Her remarks to Channel Nine news Monday were firmer than an official statement supplied Sunday by her government immediately after the strikes that stopped short of backing President Trump's measures. "Ultimately we want to see de-escalation and diplomacy," Wong said Monday. She would not say whether Australian satellite communications or signals intelligence were employed by the United States. Both countries are members of the Five Eyes intelligence sharing partnership. But Wong said the US had been clear that "this was a unilateral strike."
Time of India
an hour ago
- Time of India
Why and how Europe's growing fear of Donald Trump is bad news for Microsoft, Google, Apple and others
European governments and institutions are accelerating efforts to reduce their dependence on American tech giants after President Trump used executive powers to force Microsoft to suspend the email account of an International Criminal Court prosecutor investigating Israel for war crimes, according to a New York Times report. The February incident involving ICC prosecutor Karim Khan has become a watershed moment for European policymakers, who now view America's tech dominance as a potential weapon that could be wielded against them even in allied nations like the Netherlands. Microsoft's swift compliance with Trump's sanctions order shocked European officials and crystallized long-standing concerns about digital sovereignty . "The I.C.C. showed this can happen," Dutch cybersecurity expert and European Parliament member Bart Groothuis told the Times. "It's not just fantasy." Groothuis, who previously supported U.S. tech firms, said he has done a "180-degree flip-flop" and now believes Europe must take steps toward greater technological independence. European institutions scramble for alternatives The ICC incident has prompted immediate changes across European institutions. Some ICC officials have switched to Proton, a Swiss encrypted email provider, while the court has implemented extensive measures to ensure operational continuity despite ongoing U.S. sanctions, three sources familiar with the communications revealed to the Times. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Buy Brass Laxmi Ji Idol For Wealth, Peace & Happiness Luxeartisanship Shop Now Undo American tech companies control over 70 percent of Europe's cloud computing market, making the region heavily dependent on services from Amazon, Google, and Microsoft for essential digital infrastructure including file storage, data retrieval, and software operations. Tech giants offer reassurances but damage spreads Microsoft President Brad Smith acknowledged that the ICC episode was a "symptom" of eroding U.S.-Europe trust, telling the Times that "the I.C.C. issue added fuel to a fire that was already burning." The company has since enacted policy changes to protect customers in similar geopolitical situations, and when Trump sanctioned four additional ICC judges this month, their email accounts remained active. CEO Satya Nadella recently visited the Netherlands to announce new "sovereign solutions" for European institutions, including enhanced legal and data security protections. Amazon and Google have launched similar initiatives targeting European customers concerned about geopolitical volatility. European governments pivot toward digital independence Despite corporate reassurances, European nations are pursuing concrete alternatives. Denmark's digital ministry is testing Microsoft Office replacements, while Germany's Schleswig-Holstein state is reducing Microsoft usage. The Netherlands government has made digital autonomy a central priority, exploring partnerships with European providers. The European Union has announced billion-euro investments in AI data centers and cloud infrastructure designed to reduce American tech dependence. European Parliament lawmakers are discussing policies favoring EU-based tech services for government procurement. European cloud providers like Netherlands-based Intermax Group and Switzerland's Exoscale report significant increases in new business. "A few years ago, everyone was saying, 'They're our trusted partners,'" Intermax CEO Ludo Baauw told the Times, referring to U.S. tech companies. "There's been a radical change." AI Masterclass for Students. Upskill Young Ones Today!– Join Now
