Key Highlights: Stocks in News, Economic & Global Updates 31st July 2026 by GEPL Capital Ltd
Government Security Market:
* The Inter-bank call money rate traded in the range of 4.30%- 5.40% on Thursday ended at 4.90%.
* The 10 year benchmark (6.94% GS 2036) closed at 6.8132% on Thursday Vs at 6.7964% on Wednesday.
Global Debt Market:
U.S. Treasury yields continued their upward climb on Thursday as investors weighed the Federal Reserve’s decision to hold interest rates steady and sought insight on future monetary policy decisions. At 4:29 a.m. ET, the 30-year Treasury bond had risen more than 8 basis points to 5.236% after hitting its highest level since July 2007 on Wednesday. The benchmark 10-year Treasury yield soared 7 basis points to 4.7%, and the 2-year Treasury note yield was up by just over 3 basis points to 4.289%. On Wednesday, the Fed voted to hold its key interest rate steady at a range of 3.5% to 3.75% in a 9-3 vote, at the second FOMC meeting with Chairman Kevin Warsh at the helm. “Economic activity is expanding at a solid pace despite elevated uncertainty that owes, in part, to the conflict in the Middle East,” the FOMC statement said following the decision.“ Job gains have kept pace with the workforce, and the unemployment rate has changed little.” Deutsche Bank analysts also noted the Treasury sell -off continuing overnight and said its economists still expect the Fed to raise rates by 50 basis points this year meaning a 25-basis-point hike in September and December. “But they think the FOMC is unlikely to take much comfort in yesterday’s market reaction, with the rise in long-end rates coupled with the decline in forward real yields suggesting doubts about an imminent return of price stability,” the analysts said. They added that overall US credit conditions remain supportive, but a steeper yield curve could add pressure to the weak housing market. Investors will also await the weekly jobless claims and personal consumption expenditures price index reading for June on Thursday.
10 Year Benchmark Technical View :
The 10 year Benchmark (6.94% GS 2036) yield likely to move in the range of 6.80% to 6.8225% level on Friday.
Stocks in News
• MANKIND PHARMA: The Board approved a Rs 150 crore corporate guarantee for wholly owned subsidiary Bharat Serums and Vaccines to secure its credit facilities.
• GARDEN REACH SHIPBUILDERS & ENGINEERS: The company received a Rs 1,032.07 crore Notification of Award from ONGC for construction of four Platform Supply Vessels, to be executed over 48 months.
• REFEX INDUSTRIES: The company secured a rate contract worth about Rs 22.75 crore from a Maharatna CPSE for ash transportation to road construction sites, to be executed over about 12 months.
• ASTRA MICROWAVE PRODUCTS: The company received an order worth Rs 2,205.23 crore from HAL for supply of 122 AAAUs and 121 Interface Frames for Uttam Radar. Execution is scheduled over five years.
• LEMON TREE HOTELS: Opened its second property in Mussoorie, Keys Prima by Lemon Tree Hotels, on Kempty Road.
• ASTRAZENCA PHARMA INDIA: NPPA issued a demand notice of Rs 148.66 crore over alleged overcharging for Symbicort Turbuhaler between May 2016 and November 2025.
• ARKADE DEVELOPERS: Launched Arkade Sapphire, a boutique mixed-use residential and commercial project in Santacruz West, Mumbai.
• PVR INOX: The company opened a three-screen premium multiplex at Mall 11, Jabalpur, taking its network to 1,782 screens across 355 properties.
• HARIOM PIPE INDUSTRIES: Subsidiary Hariom Power & Energy received the commissioning certificate for its 5 MW AC (6 MW DC) solar power project in Maharashtra. Commercial operations commenced on July 8, 2026.
• TTK PRESTIGE: Reached a long-term settlement with workers at its Hosur factory.
Economic News
• GSTN puts proposed e-way bill changes on hold after industry feedback: GST Network has postponed two e-way bill system enhancements. These changes were scheduled for implementation starting August 1. Industry feedback highlighted implementation difficulties with existing systems. The government is reconsidering the design of these proposed changes. This decision allows for additional stakeholder preparedness and avoids business disruption.
Global News
• Japan's foreign reserves generate $31 billion surplus, aided by yen depreciation: Japan posted a 5.06 trillion yen ($31 billion) surplus from its foreign exchange reserves special account in FY2025, the second-highest on record, supported by a weaker yen and the wide U.S.-Japan interest rate differential. The account, which primarily invests in U.S. Treasuries and finances holdings through yen-denominated financing bills, benefited as higher Treasury yields exceeded funding costs while the yen's depreciation increased the value of overseas investment returns in yen terms. Of the total surplus, 3.13 trillion yen will be transferred to the government's general account for FY2026, 1.34 trillion yen will be allocated to the foreign exchange fund, and 585 billion yen will be carried forward. Prime Minister Sanae Takaichi said the strong performance of the country's foreign reserves could also support fiscal measures, including a proposed temporary suspension of the consumption tax on food.
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