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Stocks in News

* BEML: The company secured a Rs.1,888 crore order from Integral Coach Factory to manufacture and supply fully functional LHB coaches.

* ONGC: The company signed a Joint Operating Agreement with Oil India for three blocks awarded under OALP Round IX.

* RVNL: In the company’s JV, Metrowagonmash reduced its stake from 70% to 35%, Locomotive Electronic System raised its stake from 5% to 40%, while RVNL’s stake stayed at 25%.

* CHALET HOTEL: The company’s arm bought 18,848 sq. m. of land in Uttarakhand for Rs.60 crore to expand in the high-end and deep leisure market.

* SENORE PHARMA: The company’s US subsidiary will acquire two US FDAapproved ANDA products from Teva Pharmaceuticals USA, funded through IPO proceeds.

* THERMAX: The company partnered with HydrogenPro ASA to indigenize alkaline water electrolysis for large-scale green hydrogen projects, securing exclusive rights in India for HydrogenPro’s alkaline electrolyzer technology.

* COHANCE LIFESCIENCES: The company is investing $10 million to expand cGMP bioconjugation capabilities at its US-based unit, NJ Bio.

* PFIZER: The company has introduced its 20-valent pneumococcal conjugate vaccine (PCV20) for adults in India.

* TVS SRICHAKRA: The company signed a trademark license agreement with its arm to use the ‘Super Grip’ brand globally, including the US, for a 2% royalty.

* RADICO KHAITAN: The company approved acquiring a 47.5% stake each in D’YAVOL Spirits B.V. and D’YAVOL Spirits Pvt.

* MOTILAL OSWAL: The company has acquired 7.54 crore Compulsorily Convertible Preference Shares of Zepto for Rs 400 crore, with the objective of generating sustainable, long-term returns.

Economic News

* New Income Tax Bill is through, will replace six-decade-old Income Tax Act: The new bill introduces the concept of a tax year, replacing the financial year and assessment year to reduce confusion. It also broadens the definition of 'virtual digital assets' to include crypto-assets, non-fungible tokens and other digital assets as specified by the government.

Global News

* Trump Extends US-China Tariff Truce Until November, Easing Trade Tensions: President Donald Trump has extended the US-China tariff truce for another 90 days until November 10, deferring a planned tariff hike and stabilizing trade ties. The pause, first agreed in May, saw US duties cut to 30% and China’s to 10%, alongside resumed rare earth exports. Both sides confirmed the extension, reached last month in Sweden, averting a jump in US tariffs to 54% and easing fears of a renewed trade war. The move buys time to address unresolved issues, including fentanyl-linked duties, Chinese oil imports from sanctioned nations, and US business operations in China. The extension also sets the stage for a potential Trump-Xi meeting in late October.

Technical Snapshot

Key Highlights:

NIFTY SPOT: 24487.4 (-0.4%)

TRADING ZONE:

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

Support: 24400 (Pivot Level) and 24300 (Key Support).

BROADER MARKET: UNDERPERFORMED

MIDCAP 150: 56324.85 (-0.27%), SMALLCAP 250: 17498.1 (0.04%)

VIEW: Bearish till Below 24800 (Key Resistance).

BANKNIFTY SPOT: 55043.7 (-0.84%)

TRADING ZONE:

Resistance: 55600 (Pivot Level) /56000 (Key Resistance)

Support: 54700 (Pivot Level) / 54500 (Key Support).

VIEW: Bearish till below 56000 (Key Resistance)

Government Security Market:

* The Inter-bank call money rate traded in the range of 4.85% - 5.55% on Tuesday ended at 5.45%.

* The 10 year benchmark (6.33% GS 2035) closed at 6.4920% on Tuesday Vs 6.4398% on Monday .

Global Debt Market:

U.S. Treasury yields inched higher early Tuesday as investors look toward key inflation data for July and assess the extension of U.S.-China trade truce. The 10-year Treasury yield rose 1 basis point to 4.285%, and the 2-year Treasury yield was 2 basis points higher at 3.772%. The 30-year Treasury bond yield was more than 1 basis point higher at 4.856%. The core consumer price index, which is set to be released Tuesday morning, is expected to climb 2.8% on a yearly basis and 0.2% on a monthly basis, according to analysts polled by Dow Jones. So-called core CPI, which strips out food and energy prices, is expected to have risen 0.3% month over month and 3% year on year. “We think the market reaction to the CPI is probably skewed in favor of Fed rate cuts,” said Eastspring Investments. A lower-than-expected CPI should increase market pricing for cuts in September and year-end as it reduces the “ostensible need” for Fed caution about inflation, the investment firm’s experts said in a note. “Our concern is that July, and even August data, will be too early to be conclusive about the tariff impact,” they warned. The U.S. and China have agreed to extend their tariff truce by another 90 days, with significant disagreements still blocking a final agreement. Both sides aim to hold a leaders’ summit later this year to resolve the deadlock.

10 Year Benchmark Technical View :

The 10 year Benchmark (6.33% GS 2035) yield likely to move in the range of 6.48% to 6.50% level on Wednesday.

SEBI Registration number is INH000000081.

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