Transcription
Sir, very, very good morning to you. First of all, let's understand that Trump has soon threatened to attack Iran's underground nuclear sites. This means you are seeing signs of the situation and tension increasing significantly. Yes, it is a mountain, inside which it is said that America has a lot of Iran's nuclear weapons and enriched uranium. Not weapons, but enriched uranium is stored. It is called Pickaxe Mountain by Americans. Uh, so Trump has given a warning to bomb it. Iran has said that if that happens, we will escalate further. So, looking at that today, Brent has reached 92. The situation has worsened a bit. But in contrast, there is a recovery in the American market because there is buying in chip stocks. Earnings are coming from Google, Intel, etc., and seeing that, the market is showing some recovery. Asia markets are also up in chip stocks, so the trends are mixed. One development from yesterday was that America's Defense Secretary was grilled in front of their parliament, before the Defense Committee. And there he said that America has spent up to $37 billion on the Iranian war, and much more will be needed to completely repair the US bases. So, the damage Iran has caused to US bases in the Gulf, and what happened, on the 11th, on the night of the 11th, there was bombing on Iran again by America. Now, the US Central Command has said that they have completed their action. Iran has again attacked Bahrain, Kuwait, and Jordan. There is no news of any liberation, but this is what is visible now, that America is not fully releasing the news because 100 American soldiers have been injured in the last two weeks, which was discussed later. If we look at the mixed trends, oil prices are rising. The Houthis have threatened Saudi Arabia that they will stop shipping in the Red Sea and impose a blockade. India has a lot to lose from this because the numbers coming out indicate that about 3 million barrels were coming to India daily from there. So, India is the biggest importer from there. From the Red Sea, so that will definitely have an impact on us, but it is a good thing that nothing has happened yet. Movement is still going on from there. So, let's see what happens. Overall, the oil prices have worsened. Secondly, there is a surge in the chip sector. Markets are very focused on US earnings. Europe also rose yesterday, the US also rose. Asian markets are up today. But in India, we saw mixed trading yesterday because it was expiry day. Let's see how today turns out. But oil is indicating that the fear of some escalation still remains in the market. Absolutely. So, the signals from crude are not very good for a rally. But sir, another signal that is visible is regarding tariffs. Because in the way Trump has once again announced tariffs on generic drugs, after 2 years, first 100% then 200% tariffs, how do you see the impact on pharmaceutical companies? Yes, now people will say that they will see for 2 years and then talk. What happened is that the US courts had rejected these tariffs. They had imposed a 10% universal tariff, but its validity is only until July 21st. So now they will have to impose tariffs under Section 301, Super 301, or some other section. Yesterday, you saw, he said that I will impose a 50% tariff on Canada, and then said that there will be talks with Canada to avoid this tariff. So, the confusion is that Trump wants to impose tariffs, but he does not have legal backing to impose any tariffs. And if tariffs are to be imposed under Super 301, then justification is needed. He has done it, he is saying child labor and wrong practices, and he had also talked about imposing this on India. Now let's see, July 24th was a deadline. That's why India has also halted its trade negotiations, so that clarity comes by July 24th on what new tariffs they are going to impose, then we will see. So, for pharma, for now, it is that America's prices are already so high, and their bill is very large. Defense, as big a bill as they have, comes on healthcare. So, if they increase tariffs on generics, their own costs will increase significantly, which will not be beneficial for Trump again. So, in my opinion, it is posturing, and two years is a long time. Thank you very, very much, Sir, for giving your time once again and talking to us.