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Stocks in News

* INNAVOSION: The company has secured a Rs. 99 crore work order from NHAI for toll collection and facility maintenance.

* CLEAN SCIENCE: The company has subscribed to an additional 8.36 lakh shares of its arm, Clean Fino-Chem, for an investment of Rs. 50 crore.

* LUPIN: The company has received US FDA approval for Dapagliflozin and Metformin tablets, which is a bioequivalent to Xigduo.

* NTPC: The company has signed an MoU with France's EDF to jointly develop nuclear power projects in India. Separately, the CEA has uprated its Dadri Power Station capacity to 500 MW from 490 MW, taking the group's total installed capacity to 89,128 MW.

* KEC INTERNATIONAL: The company has secured new orders worth Rs. 2,518 crore across its Civil, Transportation, T&D, and Cables & Conductors businesses.

* BELRISE INDUSRIES: The company has issued a corporate guarantee of GBP 13.9 million to back a term loan for its UK arm.

* LEMON TREE HOTEL: The company reports that the Competition Commission of India (CCI) has approved its internal corporate restructuring plans.

* RITES: The company has received an amendment to its Letter of Acceptance (LoA) from NALCO, increasing the order value to Rs. 119 crore from the initial Rs. 80 crore.

* LEMON TREE HOTELS: The company has officially terminated its pact for a proposed hotel project in Agartala, Tripura.

* ACME SOLAR: The company reports that its arm has successfully achieved a capacity of 96 MW out of a planned 100 MW at its Gujarat unit.

* REDTAPE: The company has acquired the rights to the 'Sprandi' footwear and apparel brand for the Indian, Nepalese, Bhutanese, and Sri Lankan markets.

Economic News

• Reserve Bank of India signals lower rates for longer: Reserve Bank of India Governor Sanjay Malhotra signaled a stable outlook, highlighting strong macro fundamentals, controlled inflation, and resilience in the Indian economy, which could keep interest rates low in the medium to long term despite a neutral policy stance. The RBI kept the repo rate unchanged at 5.25% amid global uncertainties from the Iran conflict, while projecting FY27 GDP growth at 6.9% and inflation at 4.6% (within target). He noted satisfactory policy transmission by banks, emphasized that recent forex measures are temporary to curb rupee volatility, and reiterated that ceasefire developments have been factored into the policy outlook.

Global News

• UK construction hit by record cost surge and weak demand, keeping sector in prolonged contraction: UK construction sector faced sharp stress in March, with input cost inflation surging to record levels as per S&P Global PMI data, driven by the Iran war impact. New orders declined at the fastest pace in months, business confidence weakened, and the sector remained in contraction (PMI 45.6). Rising costs, weak demand, higher borrowing rates, and supply chain disruptions (Hormuz delays) continue to weigh on nearterm outlook, despite some recovery in infrastructure activity.

Government Security Market

* The Inter-bank call money rate traded in the range of 4.20%- 5.15% on Wednesday ended at 4.80%.

* The 10 year benchmark (6.48% GS 2035) closed at 6.8984% on Wednesday Vs 7.0458% on Tuesday .

Global Debt Market:

U.S. Treasury yields were down sharply early Wednesday following the announcement of a two-week ceasefire in the Middle East conflict. Yields on the 10-year U.S. Treasury note the benchmark for government borrowing plummeted more than 10 basis points to 4.2399% Shorter- and longer-dated yields were also scythed as investors piled into U.S. bonds. The yield on the 2-year Treasury note, which more closely follows short-term Federal Reserve rate moves, was down 11 basis points at 3.7193%. The 30-year Treasury note yield dropped 7 basis points to 4.8482%. The slide in borrowing costs come as concerns over inflationary pressures created by the five-week conflict ease. Energy prices rapidly reversed course following the suspension of hostilities. Under the terms of the agreement, President Donald Trump has agreed to halt attacks on Iranian infrastructure, while Tehran will allow the safe passage of ships through the critical Strait of Hormuz waterway “via coordination with Iran’s Armed Forces”, Foreign Minister Abbas Araghchi said in a statement. Brent crude, the global benchmark, fell below $100 a barrel in early deal making, reaching $94.49 a 13.5% slide. U.S. West Texas Intermediate dropped almost 15% to $96.20 a barrel. The Federal Open Market Committee’s March meeting minutes will be released later on Wednesday, as investors recalibrate bets on further Fed interest cuts. Markets will also closely watch the Mortgage Bankers’ Association’s latest 30-year fixed rate a key barometer of U.S. housing affordability due out later.

10 Year Benchmark Technical View :

The 10 year Benchmark (6.48% GS 2035) yield likely to move in the range of 6.98% to 7.05% level on Thursday

SEBI Registration number is INH000000081.

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