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Stocks in News

• MAHARASHTRA SEAMLESS: The company to demerge businesses into two subsidiaries, MSL Seamless Tubes and United Seamless; to allot one MSTL share for every five MSL shares held and one USL share for every five MSL shares held.

• SJS ENTERPRISES: The company to invest Rs 45 crore for capacity addition at Bengaluru unit, adding 20% to existing capacity; to be funded through internal accruals; current capacity utilisation at 75%.

• SILVER TOUCH: The company gets Rs 50 crore order from ITI for supply of 80 enterprise servers for a defence project, with Indian Army as end customer; includes AMC for eight years; aggregate value over 11 years at Rs 49.67 crore.

• ONE POINT ONE: The company gets in-principle nod to issue 15 lakh warrants convertible into shares.

• JASW ENERGY: The company adds 1,694 MW capacity since April; total installed capacity rises to 15.1 GW.

• ASK AUTOMOTIVE: The Rajasthan GST officials inspect Bhiwadi manufacturing unit on Oct. 6.

• TORENT POWER: The company Step-down arm Torrent Saurya Urja 2 terminates 300 MW wind PPA with SECI; to pay Rs 40 crore for termination.

• GODREJ PROPERTIES: The BMC partners with company and RC Group to develop promenade at Bandra Bay.

• TATA POWER: The company Partners with Norway's Ocean Sun to bring membrane-based floating solar technology to India; to pilot 300 kWp floating solar project in Maharashtra.

Economic News

• India’s September retail inflation seen near 2-year high at 5.6%, driven by rising food prices: India’s retail inflation is expected to rise to a 23-month high of 5.6% in September, up from 4.45% in July and 4.82% in August, driven mainly by a sharp increase in food prices. Food inflation is estimated to rise to 7 to 8%, led by higher vegetable and sugar prices, while fuel inflation is also expected to remain elevated due to earlier petrol and diesel price hikes. Core inflation is projected to increase marginally to 4.3% from 4.2% in August. The expected rise in inflation above the RBI’s 4% medium-term target may limit the scope for further rate cuts, with economists expecting the RBI to maintain a cautious monetary policy stance.

Global News

• Brent rises above $101 as Iran tensions and supply disruptions revive oilmarket risk: Brent crude prices rose above $101 a barrel on Thursday, gaining 0.96% to $101.16, as reports of potential US military action against Iran revived concerns over further Middle East supply disruptions. Fresh attacks involving tankers in the Strait of Hormuz and escalating Houthi-Saudi tensions added to the risk premium, while Tropical Storm Isaias forced Gulf of Mexico producers to shut more than 510,000 barrels per day of output. Although Middle East oil exports are gradually recovering, including Saudi Arabia’s East-West pipeline reaching 5.8 million barrels per day, renewed attacks could disrupt the recovery. Meanwhile, IEA members’ plans to release diesel and emergency oil stocks, with around 100 million barrels still available under its March emergency plan, may help ease supply tightness. Overall, the combination of geopolitical risks, weather-related production losses and vulnerable shipping routes is keeping oil prices elevated despite efforts to restore supplies.

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