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Stocks in News

* H.G. INFRA ENGINEERING: The company received a letter of award from Military Engineer Services for setting up an Integrated Material Handling facility at the Mumbai dockyard in Maharashtra.

* RAIL TEL CORPORATION OF INDIA: The company received a work order worth Rs 18.57 crore from the Airports Authority of India for Telecom - MPLS services.

* GODAWARI POWER AND ISPAT: The company approved setting up a 0.7 MTPA Cold Rolling Mill, a 10 GWH battery energy storage system plant for battery packs and containers, and additional investment in Godawari Education and Research Foundation. It also re-appointed Bajrang Lal Agrawal as Chairman-cum-Managing Director.

* SEAMEC: The company received a termination letter from HAL, ending the MoU signed on December 26, 2023, for charter hire of the vessel “SEA PEARL.”

* NAVIN FLOURINE INTERNATIONAL : The company entered into a Power Supply and Offtake Agreement with Pro-Zeal Green Power.

* ASTRA MICROWAVE PRODUCT: The company received a Rs 135 crore order from DRDO for upgrading a ground-based radar system, to be delivered within 18 months.

* AMBER ENTERPRISES: The company's subsidiary, IL JIN Electronics, acquired a 60% stake in Power-One Micro Systems for Rs 262 crore.

* RAJOO ENGINEERING: The company installed an Okuma Multus CNC machine from Japan at Shree Yantralaya to strengthen its core manufacturing capabilities.

Economic News

India braces for pain as Trump gives 24-hour warning on tariffs: Trump tariffs on India: India is grappling with the potential economic repercussions of US President Trump's tariff threats, triggered by India's trade practices and Russian oil purchases. The government is exploring measures to support exporters and considering easing dairy market access for the US to appease Trump. ? Textile sector urges govt to scrap 11% cotton import duty: India's textile sector proposes a strategic move. They suggest eliminating the 11% duty on raw cotton imports. This could be a bargaining chip in trade talks with the United States. The goal is to secure favorable terms for Indian textiles and garments. Removing the duty may boost export competitiveness.

Global News

* US trade gap skids to 2-year low; tariffs exert pressure on service sector: The U.S. trade deficit with China fell sharply by one-third to $9.5 billion in June its lowest since 2004 marking a 70% decline over five months, driven by a steep drop in Chinese imports due to 30% tariffs. Trade gaps with Canada and Germany also narrowed to multi-year lows, while surpluses with Taiwan and Vietnam hit records. As tariff tensions persist, domestic services activity stalled in July, with the ISM services PMI slipping to 50.1 and employment contracting for the fourth time in five months. Rising input costs pushed the prices paid index to a near three-year high, raising inflationary concerns, especially as goods prices start climbing and stagflation risks emerge. Businesses continue to cite tariff uncertainty as a key reason for project delays and cancellations.

Technical Snapshot

Key Highlights:

NIFTY SPOT: 24649.55 (-0.3%)

TRADING ZONE:

Resistance : 24800 (Pivot Level) and 24950 (Key Resistance).

Support: 24600 (Pivot Level) and 24500 (Key Support).

BROADER MARKET: OUTPERFORMED

MIDCAP 150: 57206.85 (-0.39%), SMALLCAP 250: 17864.55 (-0.16%)

VIEW: Bearish till Below 24950 (Key Resistance).

BANKNIFTY SPOT: 55360.25 (-0.47%)

TRADING ZONE:

Resistance: 56000 (Pivot Level) / 56600 (Key Resistance)

Support: 55000 (Pivot Level) / 54700 (Key Support).

VIEW: Bearish till below 56600 (Key Resistance)

Government Security Market:

* The Inter-bank call money rate traded in the range of 4.85% - 5.55% on Tuesday ended at 4.95%.

* The 10 year benchmark (6.33% GS 2035) closed at 6.3321% on Tuesday Vs 6.3179% on Monday .

Global Debt Market:

The 10-year Treasury yield inched higher as investors assessed developments related to U.S. President Donald Trump’s tariff rates and looked toward data on July’s services sector activity, slated for release later in the day. The benchmark 10-year note yield was 2 basis points higher at 4.218%, while the 30-year bond was less than 2 basis points higher at 4.811%. The 2-year Treasury note yield also climbed less than 3 basis points to 3.71%. The U.S. is expected to release the ISM non-manufacturing purchasing managers’ index. Analysts polled by Reuters see the figure coming in at 51.5, up from 50.8 the previous month. Trump on Monday threatened to “substantially” increase tariffs on Indian goods, though he did not specify by how much. Last week, he floated a 25% levy and an additional “penalty” if India continues buying Russian oil. India pushed back against criticism from the U.S. and European Union over its purchases of Russian oil, saying it was being “targeted” unfairly after Trump warned of sharply higher tariffs. In a statement issued late Monday, India’s Foreign Ministry said it only began buying oil from Russia after “traditional supplies” were redirected to Europe in the wake of the 2022 Russia-Ukraine war. “It is revealing that the very nations criticizing India are themselves indulging in trade with Russia. Unlike our case, such trade is not even a vital national compulsion [for them],” the ministry added, taking aim at the EU and U.S.

10 Year Benchmark Technical View :

The 10 year Benchmark (6.33% GS 2035) yield likely to move in the range of 6.3150% to 6.3375% level on Wednesday

SEBI Registration number is INH000000081.

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