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Stocks in News

* WINDSOR MACHNES: The company approved the conversion of 26 lakh warrants into 26 lakh equity shares at Rs.191.85 per share.

* VENUS PIPES & TUBES: The company allotted 1.2 lakh equity shares at Rs.1,700 per share to warrant holders, completing an equity infusion of Rs.71.4 crore through the final tranche of warrant conversion.

* BAJAJ FINSERV: The company announced the renaming of its subsidiaries to Bajaj General Insurance (formerly Bajaj Allianz General Insurance Company) and Bajaj Life Insurance (formerly Bajaj Allianz Life Insurance Company).

* ASSOCIATE ALCOHOLS & BREWERIES: The company began manufacturing and maturing malt spirits at its Barwaha facility.

* SAATVIK GREEN ENERGY: The company received solar PV module orders worth Rs.488 crore from multiple independent power producers and an additional Rs.219.62 crore from three other producers.

* KPIT TECHNOLOGIES: Through KPIT Technologies (UK), the company acquired an additional 62.9% stake in N-Dream for €16.35 million, raising total KPIT group holdings to 88.9%, making N-Dream a step-down subsidiary.

* OLA ELECTRIC: The company’s arm received approval to allot 40 crore OCRPS, raising Rs.400 crore.

* KOLTE PATIL DEVELOPER: The company announced NCLT approval for its amalgamation with subsidiary Kolte-Patil Integrated Townships.

* WAAREE ENERGIES: The company acquired a 64% stake in Kotsons Private Limited for Rs.192 crore.

Economic News

• Indian exporter secures interim Bangladesh government's first 50,000 ton rice import tender: An Indian firm, Bagadiya Brothers Pvt Ltd, has won a significant international rice import tender from Bangladesh. The company will supply 50,000 tonnes of rice. This marks the first such tender awarded directly by Bangladesh's interim government. More tenders are expected, benefiting Indian rice exporters, especially from West Bengal. This development boosts demand and prices for Indian rice varieties.

Global News

* RBNZ shocks markets with a 50-bp rate cut to 2.5%, signaling more easing amid a fragile economy: New Zealand’s central bank surprised markets with a 50-basis-point cut to its official cash rate, lowering it to 2.5%, citing concerns over a fragile economy and leaving the door open for further easing. The move sent the New Zealand dollar down 0.9% to $0.5745, while two-year interest rate swaps fell, reflecting investor expectations of more stimulus to support growth amid global headwinds. The RBNZ noted that inflation pressures were weaker than anticipated and signaled that rates could drop further to achieve the 2% target in the medium term. The cut comes as households face rising living costs and job scarcity, and Prime Minister Christopher Luxon grapples with declining popularity amid a slow economic recovery. Despite previous aggressive rate hikes totaling 525 basis points since 2021, the economy slid into recession last year and contracted 0.9% in Q2, prompting bets on deeper cuts. While inflation rose to 2.7% in Q2 and is expected to reach 3% in Q3, the central bank expects it to stabilize near target by 2026. New Zealand’s sharp easing contrasts with more cautious stances from the U.S. Federal Reserve and the Reserve Bank of Australia. Wednesday’s meeting was Governor Christian Hawkesby’s second-to-last, with Anna Breman set to take over on Dec. 1.

Technical Snapshot

Key Highlights:

NIFTY SPOT: 25108.3 (0.12%)

TRADING ZONE:

Resistance : 25200 (Pivot Level) and 25300 (Key Resistance).

Support: : 25000 (Pivot Level) and 24900 (Key Support).

BROADER MARKET: Inline MIDCAP 150: 58289.4 (0.47%),

SMALLCAP 250: 17983.4 (0.31%)

VIEW: Bullish till above 24900 (Key Support).

BANKNIFTY SPOT: 56239.35 (0.24%)

TRADING ZONE:

Resistance: 56600 (Pivot Level) / 57000 (Key Resistance)

Support: 55800 (Pivot Level) / 55300 (Key Support)

VIEW: Bullish till above 55300 (Key Support).

Government Security Market:

* The Inter-bank call money rate traded in the range of 4.85%- 5.40% on Tuesday ended at 5.25% .

* The 10 year benchmark (6.33% GS 2035) closed at 6.5101% on Tuesday Vs 6.5186% on Monday .

Global Debt Market:

U.S. Treasury yields were little changed on Tuesday with no indication of progress in resolving the standoff between the two chambers of U.S. Congress that has resulted in a government shutdown. The 10-year Treasury yield was higher by less than one basis point at 4.196%, and the 30-year bond yield was up by around one basis point at 4.767%. The 2-year Treasury yield was marginally higher at 3.599%. The U.S. government shutdown, which began earlier this month, continues as lawmakers again failed to reach a funding agreement. This standoff originally triggered the shutdown as the two parties clashed over what to include in the spending bill. The shutdown has also caused an economic data blackout, delaying key reports such as the September jobs report that was due Friday. “The absence of data sets a high bar for the FOMC to delay normalization while it simultaneously makes it difficult for the Fed to change the cadence of cuts,” said Ian Lyngen, head of U.S. rates strategy at BMO Capital Markets FICC Macro Strategy. Investors will look to comments from several Federal Reserve officials this week, including Governor Stephen Miran on Wednesday and Chair Jerome Powell on Thursday, for policy insights.

10 Year Benchmark Technical View :

The 10 year Benchmark (6.33% GS 2035) yield likely to move in the range of 6.4975% to 6.5175% level on Wednesday

SEBI Registration number is INH000000081.

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