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Stocks in News

* DEEPAK FERTILLIZER: The company signed a Rs 1,200 crore regasification agreement with Petronet LNG to process ~25 TBTUs of LNG annually, with a potential additional outlay of up to 20% over the contract period.

* SUN PHARMA: The company settled its US patent dispute with Incyte Corporation over LEQSELVI and secured a non-exclusive license for nononcology uses, including alopecia areata. It also launched LEQSELVI (deuruxolitinib) in the US for treating severe Alopecia Areata.

* ASTRAZENCA PHARMA: The company received government approval to import and sell Durvalumab (Imfinzi) Solution for Infusion, used to treat adult patients with muscle invasive bladder cancer.

* RVNL: The company received a Rs 447 crore order from Delhi Metro Rail Corporation through a letter of acceptance.

* SAMBHV STEEL TUBES: In Q1, the company reported 47% YoY growth in value-added products to 79,717 tonnes and 50% YoY growth in intermediate products to 92,706 tonnes.

* OBEROI REALTY: The CoC of Hotel Horizon cleared a Rs 919 crore resolution plan by Oberoi Realty, Shree Naman Developers, and JM Financial, settling all claims and CIRP costs, with payment due within 45 days of NCLT approval.

* POWER MECH PROJECT: The company secured a Rs 498 crore order from SJVN Thermal for the Buxar power project and a Rs 53 crore maintenance order from Jhabua Power for boiler, turbine, and generator.

* RAILTEL COPERATION: The company secured a Rs 264 crore order from East Central Railway to implement the Kavach Train Collision Avoidance System.

* BRIGADE ENTERPRISES: The company approved raising up to Rs 1,500 crore through NCDs on a private placement basis in multiple tranches.

Economic News

* India’s national highway authority to bid out 124 road projects worth Rs.3.4 lakh crore in FY26: India's retail inflation eased to a 6-year low of 2.10% in June, below the RBI’s lower tolerance limit and the 2.5% estimate in a Reuters poll, driven by a sharp fall in food prices. Food inflation dropped 1.06% YoY, led by a 19% decline in vegetable prices. This marked the lowest headline and food inflation since January 2019. Core inflation rose slightly to 4.4%-4.5%. With CPI now well below the RBI’s FY26 target, the central bank cut the repo rate by 50 bps and revised its FY26 inflation forecast to 3.7% from 4%. Economists expect RBI to stay on hold in the near term while assessing policy transmission and global risks.

Global News

* India’s retail inflation hits 6-year low at 2.1% in June, boosting rate cut hopes: Canada's unemployment rate dipped to 6.9% in June, defying expectations of a rise to 7.1%, as the economy added 83,100 jobs its first net gain since January driven by wholesale, retail, manufacturing, and healthcare sectors. Most gains were in part-time roles. The stronger-than-expected labor data, ahead of the Bank of Canada’s July 30 policy meeting, reduces chances of a rate cut, with market odds falling below 20%. Wage growth stood at 3.2%, while the participation rate rose to 65.4%. Despite year-over-year unemployment rising 9%, long-term joblessness surged, though layoff rates remained low. Manufacturing added 10,500 jobs, retail and wholesale 33,600, and healthcare 16,700, while transportation lost 3,400 and agriculture shed 6,000 jobs.

Technical Snapshot

Key Highlights:

NIFTY SPOT: 25082.3 (-0.27%)

TRADING ZONE:

Resistance :25300 (Pivot Level) and 25500 (Key Resistance).

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

BROADER MARKET: OUTPERFORMED

MIDCAP 150: 59052.55 (0.7%), SMALLCAP 250: 18954.95 (1.02%)

VIEW: Bullish till above 24900 (Key Support).

BANKNIFTY SPOT: 56765.35 (0.02%)

TRADING ZONE:

Resistance: 57000 (Pivot Level) / 57500 (Key Resistance)

Support: 56500 (Pivot Level) / 56000 (Key Support).

VIEW: Bullish till above 56000 (Key Support).

Government Security Market:

* The Inter-bank call money rate traded in the range of 4.75% - 5.40% on Monday ended at 4.95%.

* The 10 year benchmark (6.33% GS 2035) closed at 6.3163% on Monday Vs 6.2994% on Friday .

Global Debt Market:

U.S. Treasury yields were little changed on Monday morning after President Donald Trump announced additional tariffs of 30% on the European Union and Mexico over the weekend. The 10-year Treasury yield held steady at 4.423%, and the 30-year yield was up just over a basis point at 4.971%. The 2- year yield was down 2 basis points, reaching 3.891%. Tariff news continues to dominate as Trump announced additional levies over the weekend. This time, the president is threatening to Impose 30% tariffs on the EU and Mexico, which will take effect on Aug. 1. He said that if the EU or Mexico retaliates with higher tariffs, “then, whatever the number you choose to raise them by, will be added on to the 30% that we charge.” Deutsche Bank analysts said in a note, “To be fair, a month ago Trump threatened the EU with a 50% tariff, so you might argue this is an improvement! The market will generally think this is mostly a negotiating tactic and that we’re unlikely to see such rates.″ On the economic data front, investors will keenly await June’s inflation reading on Tuesday, followed by the producer price index on Wednesday, which will offer more clarity about the impact of tariffs on the economy. Investors are also on alert as Trump’s conflict with U.S. Federal Reserve Chair Jerome Powell comes into focus again, after National Economic Council Director Kevin Hassett said Sunday that the Trump administration could fire Powell “if there’s cause.”

10 Year Benchmark Technical View :

The 10 year Benchmark (6.33% GS 2035) yield likely to move in the range of 6.3050% to 6.3225% level on Tuesday

SEBI Registration number is INH000000081.

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