IGI Logo

Stocks in News

* SAATVIK GREEN ENERGY: The company has appointed Rishabh Mehtta as its Interim CFO. Concurrently, it marks its entry into the power equipment manufacturing sector by acquiring an 80% stake in Melcon Transformers for Rs 2.4 crore.

* CEIGALL INDIA: The company has incorporated a new special purpose vehicle, Ceigall Ambala Chandigarh, which will function as a step-down subsidiary.

* CIE AUTOMOTIVE: The company's board of directors has given the green light for a merger with its subsidiary, CIE Aluminium Casting.

* ASHOKABUILDCON: The infrastructure developer has successfully redeemed Non-Convertible Debentures (NCDs) amounting to Rs 100 crore.

* GODAWARI POWER: The company's arm, GNEPL, has signed a supply agreement with Roche Energy to deploy a 5 MWh Battery Energy Storage System (BESS) block at a plant in Maharashtra.

* AZAD ENGINERING: The company has amended its existing supply pact with a Baker Hughes arm, successfully extending the turbomachinery supply deal through to 2030.

* HG INFRA ENGINEERING: The company has divested its subsidiary, HG Raipur, selling it to the Neo Infra Income Opportunities Fund for Rs 282 crore.

* KIMS: The hospital chain has entered into a Memorandum of Understanding (MoU) with Dakshayani Health to collaborate on cancer research and the establishment of new care centers.

* ROLEX RINGS: The auto components manufacturer's board has officially approved a share buyback program of up to Rs 180 crore.

Economic News

* Engineering exports dip 66.8% to UAE; 45% to Saudi Arabia in March: Indian engineering exports to the UAE and Saudi Arabia saw significant drops in March. This decline was attributed to the West Asia crisis affecting cargo ship movements. Despite these challenges, the overall engineering sector experienced growth in March and throughout the 2025-26 fiscal year. The US remains the largest market for these exports.

Global News

* Japan inflation dips below target, but rising energy costs keep Bank of Japan on cautious, rate-hike watch: Japan’s core inflation eased below the Bank of Japan’s 2% target for a second consecutive month in March, rising 1.8% YoY (vs. 1.6% in February), as fuel subsidies and softer food prices offset energy-driven pressures from the Iran conflict. However, inflation is expected to pick up again as firms pass on higher fuel costs, keeping the BOJ cautious ahead of its upcoming policy meeting, where rates are likely to remain unchanged despite a hawkish bias. A broader inflation gauge (excluding fresh food and fuel) stayed elevated at 2.4%, indicating underlying demand strength, while annual core inflation remained above target for four straight years. Meanwhile, rising crude prices due to disruptions in the Strait of Hormuz have increased import costs, complicating Japan’s rate-hike path given its reliance on Middle East energy. Wholesale and services inflation also accelerated, with service prices rising 3.1% YoY, driven by a sharp spike in freight costs, signaling further pass-through to consumers. Although the BOJ has already raised rates to 0.75% after exiting its long stimulus, uncertainty from the geopolitical situation may delay further hikes despite persistent inflationary pressures.

Government Security Market

* The Inter-bank call money rate traded in the range of 4.20%- 5.30% on Thursday ended at 5.10%.

* The 10 year benchmark (6.48% GS 2035) closed at 6.9498% on Thursday Vs 6.9225% on Wednesday .

Global Debt Market:

US Treasury yields ticked higher on Thursday as investors await updates on the resumption of U.S.-Iran peace talks and the latest Purchasing Managers’ Index print for April, due later in the day. The yield on the 10-year U.S. Treasury note the key benchmark for U.S. government borrowing was up more than 2 basis points at 4.214%. The 2-year Treasury note yield, which more closely tracks short-term Federal Reserve interest rate policy, was up more than 1 basis point at 3.8126%. The longer-dated 30-year Treasury bond yield was up more than 2 basis points at 4.9255%. On Wednesday, Iran’s navy said that it had seized two container ships in the Strait of Hormuz, casting doubt upon an already fragile ceasefire. Iran’s Revolutionary Guard Navy said in a statement that it had seized the ships for what it claimed were maritime violations and transferred them to Iranian shores, according to state media. CNBC could not independently verify the claim. The announcement came after U.K. maritime authorities said two ships had been attacked in the Strait of Hormuz. Iranian media reported a third vessel had also been targeted by the country’s military. The attacks come shortly after President Donald Trump said the U.S. would extend the ceasefire with Iran to allow for the Islamic Republic’s leaders to submit a “unified proposal” to end the war. Later on Thursday, investors will be monitoring S&P Global Flash U.S. PMI data for April, which measures the economic health of American manufacturing and services sectors.

10 Year Benchmark Technical View :

The 10 year Benchmark (6.48% GS 2035) yield likely to move in the range of 6.9350% to 6.9525% level on Friday.

SEBI Registration number is INH000000081.

Please refer disclaimer at https://geplcapital.com/term-disclaimer