Top Stories | India hits back at USA, RBI repo rate decision, Airtel Q1 miss and more
Markets closed lower as financial stocks and earnings jitters weighed on sentiment. Adding to the worries, Donald Trump’s threat of “substantially” higher tariffs on Indian goods rattled investors. New Delhi fired back, calling the targeting of India “unjustified and unreasonable” and vowed to take necessary steps to protect national interests. Government sources also pushed back against Trump’s claim that India is the “tariff king.”
With the RBI’s policy decision just hours away, economists remain divided on whether there will be a rate cut. Meanwhile, the government and SEBI are reportedly looking at ways to curb speculation in the Options market.
On the corporate front, Bharti Airtel’s Q1 net profit came in below Street estimates. IndusInd Bank named Rajiv Anand as MD & CEO for the next three years, while Tata Motors promoted Group CFO PB Balaji to CEO of Jaguar Land Rover.
In other news, Anil Ambani appeared before the ED over an alleged ₹17,000 crore loan fraud. Uttarakhand faced devastating flash floods in Dharali village, washing away homes and hotels.
Meanwhile, PM Modi took a swipe at the Opposition in Parliament for questioning the government’s success with Operation Sindoor.
Scroll down for all the details and links to today’s top 10 stories –
US President Trump threatens ‘substantial’ tariff hike on Indian goods in 24 hours
US President Donald Trump has threatened to “substantially” raise tariffs on Indian goods entering the United States in the next 24 hours, accusing New Delhi of profiting from the Russia-Ukraine war by reselling Russian oil on the global market.
Speaking on CNBC’s Squawk Box, Trump also took aim at India’s trade barriers, calling it “the highest tariff nation.”
Also Read: India’s tariffs not high, market is competitive and accessible: Govt sources
Stocks end lower as financials drag; Trump tariff threat, earnings weigh on sentiment
The Nifty closed lower on Tuesday, weighed down by financial heavyweights and a drop in Reliance Industries, as investor sentiment remained cautious amid earnings-related volatility and US President Donald Trump’s comments threatening higher tariffs on Indian goods.
The blue-chip Nifty 50 index fell 73 points, or 0.30%, to close at 24,650, slipping below the psychological 24,700-mark. The S&P BSE Sensex dropped 308 points, or 0.38%, to end at 80,710.
RBI August 6 policy: Economists split on rate cut timing as inflation cools
The Reserve Bank of India’s policy meeting on August 6 is shaping up to be unpredictable.
A CNBC-TV18 poll of top economists shows a clear divide: half expect a 25 basis point rate cut, while the other half believe the Monetary Policy Committee (MPC) will keep rates unchanged.
Also Read: RBI may hold rates in August, cut likely later: Goldman Sachs’ Santanu Sengupta
Finance Ministry, SEBI In Talks To Reduce Options Market Speculation: Sources
Sources tell CNBC-TV18News that the Finance Ministry and SEBI are in talks to reduce speculation in the Options market. The government believes weekly expiries are being used for speculation rather than hedging.
Bharti Airtel Q1 Results: Net profit at ₹5,948 crore but below Street estimates
Bharti Airtel, India’s second-largest telecom operator, reported its consolidated net profit for Q1 FY26 at ₹5,948 crore, slightly below the CNBC-TV18 poll estimate of ₹6,188.3 crore. On a sequential basis, net profit declined sharply by 46% from ₹11,021.8 crore in the previous quarter (Q4FY25).
IndusInd Bank names Rajiv Anand as Managing Director and CEO
IndusInd Bank has named Rajiv Anand as its new Managing Director and Chief Executive Officer, following approval from the Reserve Bank of India (RBI). The bank’s Board of Directors confirmed the appointment in a meeting held on August 4, 2025. Anand’s term as MD and CEO will start on August 25, 2025, and last for three years until August 24, 2028.
Also Read: IndusInd Bank shares surge over 6% after Rajiv Anand becomes MD & CEO for three years
Tata Motors appoints PB Balaji as Jaguar Land Rover CEO
Tata Motors has announced the appointment of PB Balaji, its current Chief Financial Officer, as the next CEO of Jaguar Land Rover (JLR), effective November 2025. Balaji will succeed Adrian Mardell, who is retiring from JLR after three years with the company.
Anil Ambani appears before ED in probe over alleged ₹17,000 crore fraud
Anil Ambani answered a summons by the Enforcement Directorate as the agency probes alleged financial irregularities and loan “diversion” of over ₹17,000 crore by multiple companies belonging to his group. Sources say these firms include Reliance Infrastructure and Reliance Communications. The summons follows ED raids in Delhi and Mumbai, after which one person was arrested.
Uttarakhand flash floods: Watch the moment swollen Khir Ganga river swept away homes in Dharali
A massive flash flood in the Khir Ganga river in Uttarkashi has washed away many houses in Dharali village on Tuesday, August 5. According to District Magistrate Prashant Arya, at least four fatalities have been confirmed so far. Rescue efforts are underway, with an Army team from Harsil deployed to assist in relief operations.
A local resident, Rajesh Panwar, told PTI that 10-12 people could be buried under the debris following the disaster. He also estimated that around 20 to 25 hotels and homestays might have been swept away in the incident.
Also check: Uttarakhand flash flood wipes out Dharali village in minutes: Pictures show destruction
PM Modi rebukes Opposition for challenging govt on Operation Sindoor
Prime Minister Narendra Modi on Tuesday, August 5, slammed the Opposition during an NDA meeting, stating that they made a mistake by asking the government to discuss Operation Sindoor as it was a successful mission.
The Opposition made a mistake by asking the government to discuss Operation Sindoor during the ongoing Monsoon Session of Parliament, PM Modi said.
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