IGI Logo

Stocks in News

* GLAND PHARMA: The company has received approval for Olopatadine Hydrochloride Solution, a treatment used for allergic conjunctivitis.

* SAWARJ ENGIENS: The company has received warning letters from BSE and NSE for non-compliance with SEBI listing regulations.

* ONGC: The company continues blowout control operations at Well Mori No. 5, with fire intensity having reduced significantly.

* CIPLA: The company clarified that Pharmathen is the supply partner for Lanreotide Injection and is evaluating the potential impact of the USFDA inspection.

* SHREEJI SHIPPING: The Gujarat High Court has ordered the release of two vessels upon furnishing security with the court registrar.

* KALPATARU PROJECT: The company has received approval to sell its 100% stake in Vindhyachal Expressway Pvt. Ltd. at an enterprise value of Rs.775 crore.

* DEE DEVELOPMENT: The company reported cumulative executed orders of Rs.793 crore as of December 31.

* BALAJI AMINES: The company has become eligible for an industrial promotion subsidy of Rs.258 crore.

* GODAWARI POWER: The company has completed the environmental clearance presentation for the Ari Dongri iron ore mines.

* HUDCO: The company has signed an MoU with the Chhattisgarh Government to provide Rs.1 lakh crore of assistance over five years.

* MIDWEST: The company has received a quarry lease work order from the Andhra Pradesh Government to mine coloured quartzite blocks.

* INFOSYS: Partners with Cognition to roll out AI software Devin worldwide.

Economic News

* Budget 2026: Fewer customs duty slabs, simplified tariff structure soon: Union Budget: India plans to simplify its customs duty structure. The government is considering reducing the number of duty slabs to five or six. This move aims to cut down on disputes and make import duties align better with national priorities. The upcoming budget is expected to announce these changes.

Global News

* U.S. services sector ends 2025 strong, signaling solid economic momentum into 2026: The U.S. services sector surprised positively in December, indicating the economy ended 2025 on a strong footing. ISM’s nonmanufacturing PMI rose to 54.4 from 52.6 in November, beating expectations of a decline. As services make up over two-thirds of U.S. economic activity, the rise signals solid momentum entering 2026. Services employment returned to expansion after six months of contraction. New orders rose sharply, supporting growth outlook. Export orders also turned positive after five months of decline. However, backlog orders remained weak, indicating uneven demand. While growth was strong in Q3 on robust consumer spending, Q4 likely softened due to the government shutdown and affordability pressures. Input cost pressures eased but prices stayed elevated, keeping inflation above the Fed’s 2% target. Consequently, the Federal Reserve is expected to keep interest rates unchanged in January despite internal policy differences.

Government Security Market:

* The Inter-bank call money rate traded in the range of 4.50%- 5.48% on Wednesday ended at 4.85%.

* The 10 year benchmark (6.48% GS 2035) closed at 6.6105% on Wednesday Vs 6.6137% on Tuesday .

Global Debt Market:

U.S. Treasury yields inched lower on Wednesday as investors awaited more economic data and continued to monitor geopolitical uncertainty. At 4:32 a.m. ET, the 10-year Treasury yield was down nearly 3 basis points to 4.15%. The 2-year Treasury note was lower by more than 1 basis point at 3.459%. Meanwhile, the 30- year bond yield also declined nearly 3 basis points to 4.835%.Upcoming economic data includes the job openings report and the employment change report, which are both due at 10 a.m. ET. “Given the potential for lingering data quality concerns regarding Friday’s BLS payrolls update, Wednesday’s ADP report will remain of heightened relevance in guiding investors’ perception of the labor market as the FOMC’s next meeting approaches,” Ian Lyngen, head of U.S. rates strategy in the BMO Capital Markets, said in a note. “Within the details of the release, we’ll be watchful of the change in small business hiring as a leading indicator for the health of the employment market more broadly — particularly given that in November, small businesses lost -120k jobs, the biggest decline since May 2020.” Looking ahead, investors are also anticipating the release of Friday’s payrolls report, with economists expecting the economy to have added 54,000 new jobs in December. Elsewhere, investors are keeping an eye on geopolitical uncertainty, including tension in Venezuela and developments around Greenland.

10 Year Benchmark Technical View :

The 10 year Benchmark (6.48% GS 2035) yield likely to move in the range of 6.60% to 6.63% level on Thursday

SEBI Registration number is INH000000081.

Please refer disclaimer at https://geplcapital.com/term-disclaimer