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Stocks in News

• UCO BANK: The Mumbai tax authority reduces the bank's GST demand to Rs. 5 crore from Rs. 1,473 crore.

• KEC INTERNATIONAL: The company secures new orders worth Rs. 1,002 crore across businesses.

• SRF: The board approves an indefinite delay of the Rs. 490 crore BOPP film capex project at Indore. The company revises refrigerants capex to Rs. 2,285 crore from Rs. 1,100 crore for HFO and AHF plants in Odisha.

• GE VERNOVA: The company clarifies that it has not received an order for supply of nine pumped-storage units; the order pertains to another group entity.

• GE POWER: The company enters into a contract manufacturing and leave-and-licence arrangement for its Vadodara unit.

• TATA POWER: Royal Government of Bhutan and the World Bank Sign Financing Agreements for the Dorjilung Hydroelectric Power Project

• PNC INFRATECH: The company expects to receive Rs. 235 crore from NHAI under a one-time settlement.

• PREMIER EXPLOSIVE: The company receives export orders worth Rs. 34 crore for supply of rocket motors.

• PREMIER ENERGIES: The company's arm will acquire a 26% stake in Hexa Energy for Rs. 69 crore to support the Naidupeta solar-cell facility.

• DCX SYSTEM: The company and IAI break ground for a radar manufacturing plant in Tamil Nadu; the facility is expected to be completed by April 2027.

Economic News

• Cabinet clears Rs3,900 cr semiconductor push with two new units, strengthening India’s chip manufacturing ecosystem and job creation: Cabinet cleared two semiconductor projects worth Rs 3,936 crore under the India Semiconductor Mission, taking total approved projects to 12 (~Rs 1.64 lakh crore); Crystal Matrix will set up India’s first GaN-based mini/micro-LED display fab in Gujarat, while Suchi Semicon will establish an OSAT unit in Surat (capacity ~1,033 million chips/year), together creating ~2,200 jobs, boosting design-to-manufacturing capabilities, and catering to applications across consumer electronics, automotive, XR devices, and industrial sectors.

Global News

• China services expand faster, but weak exports and rising costs squeeze margins: China’s services sector saw a modest improvement in April, with the Caixin/S&P Global PMI rising to 52.6 (vs 52.1 in March), supported by stronger domestic demand and higher new business inflows, though export orders declined for the second consecutive month, reflecting weak global demand. The reading diverged from the official PMI, which slipped into contraction, due to differences in sample coverage. Broader economic signals remain mixed, with slowing retail sales and industrial output, while producer prices have turned positive after a long deflationary phase, adding cost pressures. Input cost inflation hit its highest level this year, driven by rising oil, fuel, and freight costs amid Middle East tensions, forcing firms to cut selling prices for a second straight month to stay competitive, thereby squeezing margins. Service providers also reduced headcount for the third month due to cost control measures, although outstanding business continued to expand. Despite these challenges, business confidence remains positive, and the composite PMI rose to 53.1 (vs 51.5), indicating overall economic activity is still in expansion territory.

Government Security Market:

* The Inter-bank call money rate traded in the range of 4.50%- 5.25% on Tuesday ended at 4.75%.

* The 10 year benchmark (6.48% GS 2035) closed at 7.0184% on Tuesday Vs 7.0194% on Monday .

Global Debt Market:

U.S. Treasury yields eased slightly on Tuesday after spiking the previous session, as concerns about higher energy costs caused by the Middle East conflict continue to grip markets. Yields on the 10-year Treasury note — a key barometer for U.S. government borrowing were seen about 2 basis points lower, at 4.4241%, in early trade. Yields on the shorter-term 2-year Treasury note, which closely track interest rate decisions by the Federal Reserve, moved lower by more than 2 basis points, to 3.9357%. The 30-year Treasury yield also slipped more than 2 basis points, but remains above 5%, at to 5.0074%. Traders continue to monitor how the ongoing geopolitical strife is shaping the economic picture in the U.S. West Texas Intermediate futures dropped 2.6% on Tuesday morning to trade at $103.63, as skirmishes around the Strait of Hormuz and Iranian strikes on the United Arab Emirates threaten to unravel the precarious ceasefire agreement between the U.S. and Iran. Investors are awaiting fresh hiring data from the Bureau of Statistics for clearer insights into the somewhat muddy employment picture later. The bureau’s monthly Job Openings and Labor Turnover Survey (JOLTS), which tracks hiring demand and dynamics, is expected to show job openings at 6.83 million in March, according to consensus forecasts. New openings fell by 358,000 to 6.882 million during February, according to the index.

10 Year Benchmark Technical View :

The 10 year Benchmark (6.48% GS 2035) yield likely to move in the range of 7.00% to 7.0325% level on Wednesday.

SEBI Registration number is INH000000081.

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