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Stocks in News

* RELIANCE INDUSTRIES: The company has established a new wholly owned subsidiary, Reliance Intelligence.

* DR REDDY’S LABORATORIES: The company will acquire Johnson & Johnson’s Stugeron portfolio for $50.5 million (Rs.445 crore), marking its entry into the anti-vertigo therapy segment.

* SHIPPING CORPORATION OF INDIA: The company has taken physical delivery of SHIVALIK, a second-hand Very Large Gas Carrier (VLGC) with a capacity of 54,534 MT DWT and 47,058 GT.

* TORRENT PHARMACEUTICALS: The company has signed an agreement to acquire a 26% equity stake in Torrent Urja 27, aimed at developing a captive hybrid solar and wind power project in Gujarat.

* 63 MOONS TECHNOLOGIES: The company’s subsidiary, 63sats Cybertech, has raised Rs.180 crore through a private placement.

* HINDUSTAN FOODS: The company plans to merge Avalon Cosmetics and Vanity Case India with itself.

* RAINBOW CHILDRENS MEDICARE: The company has inaugurated a new 100-bed hospital in Rajahmundry, Andhra Pradesh, increasing its total capacity to 2,285 beds. The Rs.60-crore project was funded entirely through internal accruals.

* SHYAM METALIC: The company has forayed into crash barrier manufacturing, commencing production at its Giridih facility. It also plans to set up a new Rs.50 crore plant in Sambalpur with a capacity of 60,000 MTPA, targeting an 8–10% market share.

* RVNL: The company has bagged a Rs.169.48 crore order from West Central Railway for the design, supply, erection, testing, and commissioning of a 220/132kV/2X25 kV Scott-connected traction substation.

Economic News

• GST may limit tariff blow to 30 bps of GDP: Chief Economic Advisor Nageswaran anticipates that GST reforms will mitigate the impact of US tariffs on India's GDP, limiting the damage to approximately 30 basis points. He urged large businesses to undertake reforms, focusing on productivity and innovation rather than seeking perpetual policy protection. Nageswaran expressed confidence in sustained economic growth and adherence to fiscal deficit targets.

Global News

* Japanese firms back Ueda’s BOJ reforms but eye ETF exit, labor crunch, and earnings risks: Nearly half of Japanese companies view BOJ Governor Kazuo Ueda’s performance positively, compared to 30% with negative views, according to a Reuters survey. Ueda, midway through his 5-year term, ended negative rates, risky asset purchases, and yield curve control with minimal disruption, though opinions are split on his pace of rate hikes. Market focus has shifted to the BOJ’s strategy for unwinding its massive ¥37 trillion ($251B) ETF holdings, with most respondents urging a clear long-term plan. The survey also highlighted Japan’s growing reliance on foreign workers amid record labor shortages, with 55% citing staffing needs and over 75% opposing tighter immigration rules. Corporate concerns for H2 FY25 include raw material prices, FX volatility, interest rates, and U.S. tariffs, while 47% expect earnings to meet plans and 32% see downside risk.

Technical Snapshot

Key Highlights:

NIFTY SPOT: 24973.1 (0.81%)

TRADING ZONE:

Resistance : 25000 (Pivot Level) and 25150 (Key Resistance).

Support: 24900 (Pivot Level) and 24800 (Key Support).

BROADER MARKET: OUTPERFORMED

MIDCAP 150: 57999.55 (1.11%),

SMALLCAP 250: 17874.6 (1.08%)

VIEW: BEARISH TILL BELOW 25150 (Key Resistance).

BANKNIFTY SPOT: 54536 (0.64%)

TRADING ZONE:

Resistance: 54800 (Pivot Level) / 55300 (Key Resistance)

Support: 54200 (Swing Low) / 53700 (Key Support)

VIEW: BEARISH TILL BELOW 55300 (Key Resistance).

Government Security Market:

* The Inter-bank call money rate traded in the range of 4.75%- 5.40% on Wednesday ended at 5.25% .

* The 10 year benchmark (6.33% GS 2035) closed at 6.4790% on Wednesday Vs 6.4942% on Tuesday .

Global Debt Market:

U.S. Treasury yields rose on Tuesday as investors awaited two inflation reports that could influence policy decisions at the Federal Reserve. The yield on the benchmark 10-year Treasury was more than 3 basis points higher at 4.082%. The 2-year climbed more than 5 basis points to 3.55%. Market participants are looking ahead to key inflation data due out later this week: the August producer price index on Wednesday, and the consumer price index on Thursday. The prints come ahead of the Fed’s Federal Open Market Committee meeting on Sept. 16-17. Money markets are largely pricing that the Fed will cut its key interest rate by 25 basis points at next week’s meeting, according to the CME's FedWatch tool.

10 Year Benchmark Technical View :

The 10 year Benchmark (6.33% GS 2035) yield likely to move in the range of 6.4625% to 6.4850% level on Thursday

SEBI Registration number is INH000000081.

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