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Stocks in News

* NHPC: The company has announced the commencement of commercial operations for the first 250 MW unit of the Subansiri Lower Hydroelectric Project (SLHP).

* AUROBINDO PHARMA: The US FDA concludes an inspection at its arm's (Eugia Pharma) Bhiwadi unit with nine observations and classifies the inspection as "Official Action Indicated (OAI).

* AB INFRABUILD: The company receives a Letter of Acceptance for a project valued at Rs 48 crore.

* TATA STEEL: The board approves the merger of Neelachal Ispat Nigam with the company and plans to invest Rs 18,488 crore in its arm, T Steel Holdings, in tranches starting FY27.

* CESC: The company issues four Letters of Award (LoAs) for wind-solar hybrid power projects totaling 600 MW from various suppliers.

* PN GADGIL JEWELLERS: The company opens a new FOCO (Franchise Owned, Company Operated) store in Pune, bringing its total count to 73.

* DEE DEVELOPMENT ENGINEERS: The company issues a Force Majeure notice, stating that export orders and shipments to West Asia are facing delays and potential non-fulfillment due to the regional conflict.

* JK CEMENT: Its arm receives a notice from the J&K Legal Metrology Department to halt certain packaging activities; the company has sought an extension to respond.

* PAISALO DIGITAL: The company successfully closes its first-ever External Commercial Borrowing (ECB) issuance, raising $15 million.

* IRCON: The Supreme Court issues a notice to the VAT department and stays the Patna High Court's previous orders regarding the tax demand.

* WIPRO: The company partners with Harness, an AI software delivery platform, to accelerate AI-native software delivery.

Economic News

* India's exports to hold in March despite global turmoil, says Piyush Goyal: India's trade shows resilience amidst global challenges. Minister Piyush Goyal stated that exports are stable, with services growth rapidly increasing. The trade deficit is manageable, supported by strong services surplus, rising remittances, and record FDI. Several developed nations are keen to boost trade ties with India. Upcoming free trade agreements will unlock significant opportunities for Indian businesses.

Global News

* Japan’s export growth stays strong, but Middle East oil shock raises risks to outlook: Japan’s exports grew for the sixth consecutive month, rising 4.2% YoY in February beating expectations driven by strong Asian demand, though volumes slightly declined. However, escalating Middle East tensions and oil supply disruptions pose a key risk, especially for Japan’s energy-dependent economy, with potential spillovers to chemicals and auto exports. While the economy shows modest recovery backed by business investment, rising oil prices are increasing stagflation concerns. Exports to the US and China declined, imports rose 10.2%, and Japan reported a surprise trade surplus, even as policymakers remain cautious amid inflationary pressures and global uncertainty.

Government Security Market:

* The Inter-bank call money rate traded in the range of 4.60%- 5.35% on Tuesday ended at 4.75%.

* The 10 year benchmark (6.48% GS 2035) closed at 6.7143% on Tuesday Vs 6.7059% on Monday

Global Debt Market:

Treasury yields edged higher Tuesday as investors weighed escalating tensions in the Middle East and rising oil prices ahead of the Federal Reserve’s policy decision. The benchmark 10-year Treasury yield was more than 2 basis points at 4.239%, while the 30-year Treasury bond added almost 3 basis points to yield 4.887%. The 2-year Treasury note yield was little changed at around 3.686%. U.S. President Donald Trump said Monday that the U.S. has asked to delay his planned meeting with Chinese President Xi Jinping in Beijing by “a month or so” due to the ongoing war with Iran. Trump was expected to travel to China at the end of March for the meeting with Xi. But when asked in the Oval Office on Monday afternoon if that trip was still on, Trump said: “I don’t know, we’re working on that right now.” Oil prices jumped more than 3% on Tuesday as uncertainty lingered over a U.S.-led coalition to protect shipping through the Strait of Hormuz. Ship movements through the vital shipping route have plunged after Iranian attacks, fueling one of the largest disruptions to global oil supply in history. International benchmark Brent crude gained 3.43% to $103.65 per barrel, while the U.S. West Texas Intermediate rose 3.85% to $97.08 per barrel. The U.S. has been urging allies to send military forces to protect tanker traffic through the strait.

10 Year Benchmark Technical View :

The 10 year Benchmark (6.48% GS 2035) yield likely to move in the range of 6.70% to 6.72% level on Wednesday.

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