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Make Way For The King!

Tale of the Tape
Howdy folks. Markets were a big snooze-fest today!
Nifty and Sensex reversed the morning’s losses, but still ended flat. Midcaps and Smallcaps didn’t move either. The advance-decline ratio was evenly split.
Most sectors ended in the green. PSU Banks (+1.8%) were the top gainer, followed by IT (+0.6%) and FMCG (+0.5%). Metals (-0.5%) and Pharma (-0.3%) saw smaller cuts.
Elon Musk’s Tesla is riding into India with a Rs 61 lakh Model Y. Read our top story for how it stacks up against Indian EV players.
ITC Hotels (+5%) posted solid Q1 numbers. On the other hand, HDB Financial (-3%) had a disappointing Q1 performance. More details below.
Deccan Cements, PVR Inox and Just Dial all saw big moves today. Check out their charts below to find out why.
SBI (+2%) was up after its board approved raising a whopping Rs 20,000-cr via bonds.
HDFC Bank will consider its first-ever bonus issue on July 19.
Coffee Day hit a +10% upper circuit for a second day in a row. PS - shareholder data showed ace investor Dolly Khanna picked up a 1.5% stake in Q1.
Dixon Tech rallied +4% intraday after announcing a precision manufacturing acquisition + a Chinese JV for laptop & mobile parts.
Results reactions. ICICI Prudential (-3%) was down after analysts cut their earnings estimates post Q1. Network 18 (+14%) was the top NSE 500 gainer after returning to profitability in Q1.
Shilpa Medicare jumped +5% after its Bengaluru unit passed an USFDA inspection.
Nifty | 25,212 | FLAT |
Sensex | 82,634 | FLAT |
Bank Nifty | 57,169 | +0.3% |
Market
Tesla In India

Tesla is FINALLY in India! After years of stalling, Elon Musk’s EVs will ride on Indian roads. Whether it will shake up the market and pose a threat to Indian OEMs is a whole another question. Here’s what you need to know:
A direct comparison doesn’t leave Tesla looking good. Its Model Y variants will be priced between Rs 61 lakh - Rs 69 lakh. That’s at least 2.5x more than the average Rs 18-31 lakh price that the Nexon, M&M XEV 9E and BE 6E go for. And let’s be real, if you had Rs 70 lakh to throw around and wanted an EV, you wouldn’t be buying a Tata or M&M.
Which brings us to Tesla’s real market. The market for cars priced above Rs 50 lakh is just ~50k units. That’s BMW, Mercedes Benz and Audi territory, who are Musk’s real competitors. Even if you assume Tesla can expand the market due to its brand pull, we aren’t looking at huge numbers here. Counterpoint Research estimates Tesla will be able to sell less than 5k units in the first year. But we’ll see if the SoBo and Gold Course Road peeps surprise us.
A large part of this uphill battle is due to India’s import tariffs. Tesla’s Model Y sells for ~37k in the US after a tax credit; that's nearly double what people will pay here. Musk has complained about this for years, but still chose to start selling in India anyway. FYI - that’s mostly because he has no choice; Tesla sales are plummeting all over the world as BYD takes over.
So.. what happens if Trump and Modi strike a trade deal and tariffs are cut? Well, even if duties drop to 0-2%, Bernstein estimates that Tesla’s cheapest EVs would still be 30% more expensive than Mahindra’s top-end models. But that would give Musk a fighting chance, so don’t count him out yet. Picture abhi baaki hai mere dost!
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