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Stocks in News

* SAPPHIRE FOODS, DEVYANI INTERNATIONAL: Sapphire Foods will merge with Devyani International effective April 1, with Sapphire shareholders receiving 177 Devyani shares for every 100 Sapphire shares held under the approved swap ratio, valuing Sapphire at par with Devyani. Ahead of the merger, Sapphire’s board has approved a secondary sale of an 18.5% stake in Sapphire Foods by Sapphire Foods Mauritius to Devyani promoter Arctic International, to be completed before the scheme becomes effective.

* VODAFONE IDEA: The company has received a tax demand and penalty of Rs.638 crore, including interest, from the Ahmedabad tax authority and plans to take appropriate legal action.

* MOIL: The company revised manganese ore prices, increasing rates by 3% for Mn-44% and above as well as Mn-44% and below ferro grades, raising SMGR Mn-30% and fines grades by 5%, while cutting prices for SMGR Mn-20% and fines grades by 10%.

* TAJGVK: Promoters Moonshot Trust and Starlight Trust have each pledged 67.37 lakh shares in favour of 360 One Prime as security for a Rs.250 crore term loan.

* OLECTRA GREENTECH: The company commenced commercial operations of Phase-1 of its greenfield EV manufacturing facility in Hyderabad on December 31, 2025, with an annual per-shift capacity of 2,500 buses, while the total per-shift capacity of the facility stands at 5,000 buses.

* RAILTEL CORP: The company has received a letter of acceptance for a Rs.56.7 crore order from the Assam Health Infrastructure Development & Management Society.

* AUROBINDO PHARMA: Arm has approved the acquisition of Khandelwal Labs’ non-oncology prescription formulations business for Rs.325 crore.

* TIME TECHNO PLAST: The company has received PESO approval to manufacture and supply high-pressure cylinders with a 2-litre capacity.

* PRATAAP SNACKS: Manufacturing at the Bengaluru unit was ceased from January 1, 2026, as part of strategic consolidation, with production shifted to another regional facility, ensuring continuity of supply and no expected impact on overall production capacity.

Economic News

* India's exports may reach $950 billion in FY27 on West Asia trade pacts: India's export horizons are expanding rapidly, with projections hitting $840- 850 billion in FY26 and climbing to $950 billion in FY27. The fostering of free trade agreements, particularly with nations in West Asia, alongside robust growth in sectors like services and electronics, are pivotal to this surge.

Global News

* Low layoffs mask a stalled U.S. job market, keeping the Fed on edge: U.S. jobless claims fell unexpectedly to a one-month low, signalling limited layoffs, but the labour market remains weak as hiring has nearly stalled. While continuing claims have eased from recent highs, they remain above last year’s levels, reflecting a “no-hire, no-fire” environment amid policy uncertainty from tariffs, immigration curbs, and rising AI adoption. Job creation has slowed sharply in 2025, pushing unemployment to a four-year high of 4.6%, even as employers remain reluctant to cut staff due to tight labour supply. This unusual mix of resilient growth but weak hiring has deepened the Federal Reserve’s policy debate, with rate cuts now on pause as officials await clearer signals on inflation and employment trends.

Government Security Market:

* The Inter-bank call money rate traded in the range of 4.50%- 5.45% on Thursday ended at 4.85%.

* The 10 year benchmark (6.48% GS 2035) closed at 6.5818% on Thursday vs 6.5881% on Wednesday

Global Debt Market:

The yield on U.S.10-year Treasury notes ticked up 1.9 basis ?points (bps) from Tuesday's close and last stood at 4.147%. This is 42.6 bps lower than a year ago when yields closed 2024 at 4.573%, and it is 65.6 bps below the 2025 high point of 4.803% reached on January 13. The two-year U.S. Treasury yield, which typically moves in step with interest rate expectations, was up 1.7 bps and last stood at 3.471%. This is 76.9 bps lower than 4.24% a year ago and 93.1 bps below a year-high 4.402% reached on January 13. Yields have fallen over the course of 2025 as the U.S. Federal Reserve has gradually made cuts to its key interest rate, in a shift from its largely hawkish stance on rates between 2020 and 2024. Data on Wednesday pushed yields higher after initial jobless claims for the week ended December 27 came in lower than economists' estimates. There were 199,000 claims last week, versus 220,000 forecast in a Reuters poll of economists.

10 Year Benchmark Technical View :

The 10 year Benchmark (6.48% GS 2035) yield likely to move in the range of 6.57% to 6.59% level on Friday

SEBI Registration number is INH000000081.

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