U.S. Court Blocks Trump’s “Liberation Day” Tariffs Citing Overreach of Power Date: May 28, 2025 Prepared by: Adarsh Nimborkar

Indian Companies Likely to Benefit Several Indian companies across diverse sectors stand to gain from the U.S. court’s decision to strike down the tariff orders: TCS, a major player in the IT services sector, is expected to benefit significantly due to its strong exposure to the U.S. market. With improved trade relations and reduced uncertainties, demand for tech outsourcing from American clients is likely to strengthen. • Support Levels: o S1: ₹3,475 o S2: ₹3,397 • Resistance Levels: o R1: ₹3,556 o R2: ₹3,668 Bajaj Auto, a leader in the auto export space, may gain a competitive edge in international markets. Lower tariff tensions mean Indian vehicles can now compete more effectively on pricing in the global arena, especially in the U.S. and emerging markets. • Support Levels: o S1: ₹8,611 o S2: ₹8,312 • Resistance Levels: o R1: ₹9,357 o R2: ₹10,020 Larsen & Toubro (L&T), which operates in the infrastructure and engineering domain, could benefit from a revival in global infrastructure projects. Trade normalization is likely to unlock postponed projects and encourage international contracts, particularly those involving U.S.-based funding or partners. • Support Levels: o S1: ₹3,462 o S2: ₹3,275 • Resistance Levels: o R1: ₹3,750 o R2: ₹3,960 Sun Pharma, one of India’s largest pharmaceutical exporters, may see relief in pricing pressure in the U.S. generics market. The easing of tariff-related uncertainties could help stabilize profit margins and improve the regulatory environment for exports. • Support Levels: o S1: ₹1,628 o S2: ₹1,555 • Resistance Levels: o R1: ₹1,723 o R2: ₹1,846 Note: Sun Pharma has recorded a favorable price breakout, trading below its resistance level of 1723 at ₹1,687, if not break level of 1723 and sustain above the level, the stock might show a down momentum.