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Stocks in News

* SANDUR MANGANESE & IRON ORE: The company has amended its Memorandum of Association to raise authorised share capital to Rs.600 crore, comprising 60 crore equity shares of Rs.10 each.

* 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.

* INFOSYS: The company formed a 10-year strategic alliance with HanesBrands to adopt AI-first platforms and generative AI for efficiency, modernization, and IT simplification, while also approving a Rs.18,000 crore buyback representing 2.41% of equity.

* BARAT FORGE: The company, along with Windracers, signed a strategic MoU at DSEI UK 2025 to advance UAV operations in India, while its arm Kalyani Strategic Systems secured a landmark contract with Gradeone subsidiary MP3 International to supply 155mm howitzer barrels and critical spares to the UAE.

* HFCL: The company has secured approval from the Andhra Pradesh government for the allotment of 1,000 acres in Sri Sathya Sai District to establish defence manufacturing facilities.

* BRAINBEES SOLUTION: The company invested Rs.73 crore in its subsidiary Globalbees Brands through 2,220 CCPS, raising its stake from 51.12% to 51.51%.

* CROMPTON GREAVES CONSUMER ELECTRIC: The company has launched a new B2C lighting product, the "Laser Ray DMaxx 60W Batten."

* COHANCE LIFESCIENCES: The company reported that the USFDA completed a cGMP audit of its API facility in Jaggaiahpet, Andhra Pradesh, with no Form 483 observations.

* JSW ENERGY: The company commissioned 317 MW of renewable capacity (240 MW hydro, 34 MW solar, 43 MW wind), raising total installed capacity to 13,097 MW.

Economic News

*  Festive demand, GST cuts likely to cushion tariff impact: Indian businesses are adapting to US tariffs. Festive season demand and GST changes may help. Companies are focusing on local sales and new supply chains. MSMEs are exploring other markets. Banks expect increased lending to MSMEs. Sectors like textiles and engineering could benefit. Government support aims to protect MSMEs from credit issues. Strong domestic demand may offset tariff impacts.

Global News

* U.S. August deficit narrows to $345B as tariff revenues hit record high: The U.S. budget deficit narrowed 9% YoY in August to $345 billion, aided by a $22.5 billion jump in customs receipts from President Trump’s tariffs, which hit a record $29.5 billion for the month. With one month left in FY25, the deficit stands at $1.973 trillion, up 4% YoY, marking the third highest 11-month shortfall after FY20 and FY21. August revenues rose 12% to $344 billion, while outlays increased slightly to $689 billion, both setting new monthly records. For the first 11 months, total receipts climbed 7% to a record $4.691 trillion, driven by higher customs duties (+$95 billion YoY to $165.2 billion), while outlays rose 6% to $6.664 trillion, led by higher Social Security (+$117 billion) and debt interest (+$76 billion), partly offset by a $111 billion decline in education spending. Treasury officials noted September typically delivers stronger revenues from quarterly tax payments, with Oxford Economics projecting a full-year deficit of $1.78 trillion.

Technical Snapshot

Key Highlights:

NIFTY SPOT: 25005.5 (0.13%)

TRADING ZONE:

Resistance : 25150 (Pivot Level) and 25250 (Key Resistance).

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

BROADER MARKET: OUTPERFORMED

MIDCAP 150: 58043.55 (0.08%), SMALLCAP 250: 17875.2 (0%)

VIEW: BEARISH TILL BELOW 25150 (Pivot Level)

BANKNIFTY SPOT: 54669.6 (0.24%)

TRADING ZONE:

Resistance: 55000 (Pivot Level) / 55500 (Key Resistance)

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

VIEW: BEARISH TILL BELOW 55500 (Key Resistance).

Government Security Market:

* The Inter-bank call money rate traded in the range of 4.75%- 5.40% on Thursday ended at 5.00% .

* The 10 year benchmark (6.33% GS 2035) closed at 6.4666% on Thursday Vs 6.4790% on Wednesday .

Global Debt Market:

US Treasury yields nudged higher on Thursday morning as investors gear up for the second of two key inflation prints out this week. The yield on the benchmark 10-year Treasury was 2 basis points higher at 4.057%. The 30-year Treasury yield meanwhile increased 3 basis points to 4.705%, as the 2-year yield gained 2 basis points to hit 3.554%. The August consumer price index is set to be released at 8:30 a.m. ET and will be measured against rises of 0.3% monthon-month and 2.9% year-on-year forecast in a Dow Jones poll. Core CPI is expected to pick up 0.3% on a monthly basis and 3.1% annually. On Wednesday, a surprise decline in the producer price index further reinforced expectations that the Federal Reserve will cut interest rates at its next meeting on Sept. 17. Wholesale prices fell 0.1% month-on-month, where a Dow Jones estimate had pointed to a 0.3% rise. Markets are now fully pricing in a September interest rate cut, after recent data also showed signs of a weakening jobs market. CME Group’s FedWatch tool on Thursday put a roughly 90% probability of a quarterpoint cut, with a 10% chance of a bigger half-point move. Treasury yields eased on Wednesday after a 10-year Treasury note auction saw strong demand.

10 Year Benchmark Technical View :

The 10 year Benchmark (6.33% GS 2035) yield likely to move in the range of 6.4525% to 6.4725% level on Friday

SEBI Registration number is INH000000081.

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