IGI Logo

Stocks in News

• MAHARASHTRA SEAMLESS: Whole-time Director Pithelis Raj Santhanamarian resigned from executive role due to personal reasons.

• AMBER ENTERPRISES: Extended timeline for acquisition of remaining stake in MoMagic Wireless by subsidiary IL JIN Electronics to Sept. 30, 2026

• CORONA REMEDIES: Commissioned EU-GMP approved hormone manufacturing facility in Ahmedabad, boosting hormone manufacturing capacity by 20% and strengthening its women's healthcare portfolio.

• PARAS DEFENCE: Signed exclusive IP licensing agreement with US-based Tandem Defense LLC for Guardian-1 counter-drone interceptor technology, enabling manufacturing and commercialization in India.

• L&T TECHNOLOGIES: Announced the launch of Ainfonix 4.0, a nextgeneration Engineering Intelligence platform for process industries.

• NTPC GREEN ENERGY: Subsidiary Ayana Renewable Power won 193 MW wind project in MPPMCL auction at tariff of Rs. 4.17/unit, strengthening renewable energy portfolio.

• HG INFRA ENGINEERING: HUDCO reported strong Q1 business growth, with loan sanctions jumping 93% YoY to Rs 65,485 Cr and loan disbursements rising 27.8% YoY to Rs 16,377 Cr. Separately, it acquired a 100% stake in WR ER Part C Power Transmission Ltd to execute the awarded power transmission project.

• NETWEB SOFTWARE TECHNOLOGIES: The Company has received and accepted Letter of Award for Retail Loan Origination Solution. The aggregate value of the aforesaid Award is USD 1,710,000.

• KIRLOSKAR OIL ENGINES: The company has made payment of consideration of AED 3.2 million (INR 8.28 Crore) to Kirloskar International ME FZE, UAE.

• JUBILANT PHARMOVA: Co. confirms getting a Rs. 53.4 Cr Rectification Order From Noida Authority For AY19-20.

• PUNJAB NATIONAL BANK: Revised MCLR rates upward by 5 bps across all tenors effective July 1, 2026.

Economic News

• GST rate rationalisation pays off with stronger tax base and higher taxable supplies: Government analysis reveals that last September's Goods and Services Tax rate adjustments led to a significant expansion of the tax base. Higher taxable supplies more than compensated for reduced tax rates, boosting average monthly taxable supply by 22.5% in the latter half of FY26. This positive outcome marks a notable impact as the GST nears its ninth anniversary.

Global News

• China's manufacturing growth extends to a 7th month, marking the strongest quarter since 2020: China's manufacturing sector expanded for the seventh consecutive month in June, with the RatingDog China General Manufacturing PMI at 51.7 (vs. 51.8 in May), marking its strongest quarterly performance since Q4 2020. Growth was supported by sustained gains in output, new orders (13th straight month), easing input cost pressures, and the strongest job creation since August 2023. However, export orders declined for the second consecutive month, factory output growth slowed to a three-month low, and business confidence eased to its weakest level since January, reflecting continued weakness in domestic demand despite resilient manufacturing activity

Government Security Market:

* The Inter-bank call money rate traded in the range of 4.20%- 5.65% on Tuesday ended at 4.90%.

* The 10 year benchmark (6.94% GS 2036) closed at 6.7501% on Tuesday Vs 6.7515% on Monday .

Global Debt Market:

U.S. Treasury yields were unchanged on the final trading day of June, as traders look ahead to more jobs data. Yields on the key 10-year Treasury note the main benchmark for mortgages, auto loans and credit card debt were largely unchanged at 4.3646%. The yield on the 2-year Treasury note, which closely tracks short-term Federal Reserve interest rate decisions, also held steady at 4.104%. The 30-year Treasury yield, which often moves on geopolitical events, was flat at 4.851%. Yields were largely unmoved during Monday’s trading session, as investors assessed how the evolving Middle East peace process is shaping inflation expectations. Oil prices were mixed on Tuesday. U.S. West Texas Intermediate futures were hovering around $70 a barrel, and were last seen 0.1% higher at $70.81. Brent crude, the global oil benchmark, was 0.1% lower at $73.09. With energy costs retreating towards their pre-Iran war levels, traders will turn to key employment data this week to gauge how the U.S. economic and inflation picture is unfolding. The latest JOLTS job openings data for May, due to be published Tuesday morning by the Bureau of Labor Statistics, is expected to come in at 7.3 million, according to consensus estimates. U.S. job openings rose by 731,000 to 7.6 million in April, the highest level since May 2024. The jump meant there were more available jobs than unemployed workers. The latest ISM manufacturing PMI data for May are out Wednesday, before June’s unemployment rate and nonfarm payrolls, which are due Thursday.

10 Year Benchmark

Technical View :

The 10 year Benchmark (6.94% GS 2036) yield likely to move in the range of 6.73% to 6.76% level on Wednesday.

SEBI Registration number is INH000000081.

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