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Stocks in News

* TRIVENI ENGINEERING & INDUSTRIES: The company received NSE’s approval for its proposed composite scheme of arrangement with Sir Shadi Lal Enterprises, Triveni Power Transmission, and their stakeholders.

* PITTI ENGINEERING: The board approved Rs 150 crore capex to expand manufacturing, raising sheet metal capacity to 1,08,000 MT, machining hours to 7.20 lakh, and foundry capacity to 24,000 MT.

* BIOCON: The company approved acquiring a 26% stake in Pro-zeal Green Power Sixteen and signing a PPA to source solar power from its captive offsite plant.

* ARISINFRA SOLUTION: The company secured a Rs 40 crore development management mandate from AVS Group in Mumbai.

* SYRMA SGS TECHNOLOGY: The company approved a QIP to raise Rs 1,000 crore by issuing equity shares at a floor price of Rs 735.61 each.

* NIBE: The company secured Rs 29.22 crore orders from a domestic infrastructure and defence firm for trackway and breech casing supplies.

* KOTEL PATIL DEVELOPER: The company’s arm, Kolte-Patil Lifespaces, exited its 36% stake in Amco Landmarks Realty through a Deed of Retirement.

* ATUL: The board approved a 50:50 JV with Buckman Laboratories, Singapore, wherein the company will provide land, utilities, and site services.

* MEDPLUS HEALTH SERVICES: The company approved raising up to Rs 198 crore via preferential allotment of 37.01 lakh shares at Rs 535 each to MIT and 238 Plan Associates LLC, subject to approvals.

Economic News

* US tariffs may cost India’s electronics sector up to $30 billion: India’s electronics sector may lose $20–30 billion in business opportunities over the next few years due to rising US tariffs, especially if semiconductors are included, industry experts warned. While Apple and Samsung may receive exemptions due to planned investments in the US, most non-smartphone electronics exports from India face heavy duty.

* India to fast-track domestic reforms amid rising US tariff pressure: In response to the US imposing a 50% duty on most Indian exports, the Indian government is fast-tracking domestic reforms to cushion the economic impact. Officials said a "whole of government" approach is underway, with the finance ministry leading key efforts. A deregulation commission aimed at removing outdated compliances will be set up soon, with potential expansion of its mandate based on performance.

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: 24596.15 (0.09%)

TRADING ZONE:

Resistance : 24700 (Pivot Level) and 24800 (Key Resistance).

Support: 24500 (Pivot Level) and 24400 (Key Support).

BROADER MARKET: OUTPERFORMED

MIDCAP 150: 56938.3 (0.33%), SMALLCAP 250: 17692.65 (0.17%)

VIEW: Bearish till Below 24800 (Key Resistance).

BANKNIFTY SPOT: 55521.15 (0.2%)

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 4.75% - 6.00% on Thursday ended at 4.95%.

* The 10 year benchmark (6.33% GS 2035) closed at 6.3861% on Thursday Vs 6.4162% on Wednesday .

Global Debt Market:

U.S. Treasury yields were little changed on Thursday morning as investors monitored the latest trade developments with President Donald Trump’s “reciprocal” tariffs coming into effect. At 5:45 a.m. ET, the 10-year yield was unchanged at 4.232%, and the 30-year Treasury bond yield remained at 4.811%. The 2-year Treasury yield was up less than a basis point to 3.7%. Investors are watching as Trump’s so-called “reciprocal” tariffs against dozens of trade partners went into effect on Thursday. “IT’S MIDNIGHT!!! BILLIONS OF DOLLARS IN TARIFFS ARE NOW FLOWING INTO THE UNITED STATES OF AMERICA!” Trump wrote on social media platform Truth Social. In an earlier post, Trump said the tariffs were targeting “COUNTRIES THAT HAVE TAKEN ADVANTAGE OF THE UNITED STATES FOR MANY YEARS.” Trump recently rejigged the tariff rates ahead of the deadline, imposing steep duties from 41% on Syria to 50% on Brazil and India. Meanwhile, after Federal Reserve Governor Adriana Kugler resigned last week, Trump told CNBC on Tuesday that he has four candidates in mind as replacements. The president has made it clear that he will only appoint governors in favor of cutting rates. Two of the finalists include former Governor Kevin Warsh, National Economic Council director Kevin Hassett, and two unnamed candidates. It’s quiet on the economic data front, but investors will await weekly jobless claims data on Thursday.

10 Year Benchmark Technical View :

The 10 year Benchmark (6.33% GS 2035) yield likely to move in the range of 6.37% to 6.3925% level on Friday.

SEBI Registration number is INH000000081.

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