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Stocks in News

* BIOCON: Biocon Biologics, through its arm Arm Biocon, expanded its partnership with Civica to launch a private-label Insulin Glargine in the U.S., enhancing access to diabetes treatment options.

* ATLANTA ELECTRIC: The company secured a Rs.183 crore order from BNC Power Projects to supply Extra-High Voltage equipment.

* JSW ENERGY: The company’s subsidiary received a Letter of Award from a Karnataka power utility for a 400 MW, 25-year power supply agreement effective April 1, 2026.

* ORIENT TECHNOLOGIES: The company acquired Red Hut Innovation Technology and minority stakes in Athena IT and Telecom Solutions and AIT Internet Services for a total consideration of Rs.7.7 crore.

* SAMVARDHANA MOTHERSON INTERNATIONAL: Agencia De Recaudacion De Control Aduanero imposed a penalty of ARS 56.43 million on the company’s subsidiary.

* BEML: The company partnered with Kineco for advanced composite manufacturing for aerospace and defense applications.

* WHIRLPOOL: Whirlpool India signed long-term brand and technology agreements with its parent company, valid until March 2029, replacing previous annual contracts.

* TATA MOTORS: The company will be renamed Tata Motors Passenger Vehicles, and its stock symbol will change to TMPV, both effective October 24.

* VIJAYA DIAGNOSTIC: NCLT approved the scheme of amalgamation of Medinova Diagnostic Services & Co.

Economic News

* US nears tariff relief for auto industry after lobbying push: The White House is set to extend a tariff relief program for the US auto industry, a move that will benefit carmakers like Ford and GM. This five-year extension allows automakers to reduce tariffs on imported car parts, a provision previously set to expire. The announcement is expected soon and coincides with the formal implementation of tariffs on imported trucks

Global News

* Kashkari sees limited risk of inflation spikes, expects moderate rate cuts, and warns prolonged shutdown could cloud economic readings: Minneapolis Federal Reserve President Neel Kashkari said Thursday that he does not see a high likelihood of a sharp weakening in the labor market or a surge in inflation, though he believes the risk of a negative labor market surprise is higher than that of a sudden inflation spike. He added that, if anything, policymakers might be overestimating the pace of economic slowdown. Kashkari reiterated his support for the Fed’s quarter-point rate cut in September and indicated that two additional cuts could be warranted by year-end as a form of insurance against adverse outcomes that may not materialize. He noted that last year, rate cuts were implemented to address concerns about a rapidly softening labor market, yet the economy proved unexpectedly resilient. Regarding inflation, Kashkari said it is unlikely to rise to 4% or 5%, as tariff impacts on prices can be quantified, but he flagged the risk of persistent inflation around 3% for an extended period. While acknowledging that the ongoing federal government shutdown is delaying official economic data, he emphasized that the Fed can rely on private sources and community and business outreach to gauge conditions, though a prolonged shutdown would reduce confidence in their economic assessments.

Technical Snapshot

Key Highlights:

NIFTY SPOT: 25585.3 (1.03%)

TRADING ZONE:

Resistance : 25650 (Pivot Level) and 25800 (Key Resistance)

Support: 25500 (Pivot Level) and 25350 (Key Support).

BROADER MARKET: UNDERPERFORMED MIDCAP 150: 59241.15 (0.46%),

SMALLCAP 250: 18131.85 (0.24%)

VIEW: BULLISH TILL ABOVE 25350 (Key Support).

BANKNIFTY SPOT: 57422.55 (1.1%)

TRADING ZONE:

Resistance: 57800 (Pivot Level) / 58300 (Key Resistance)

Support: 57000 (Pivot Level) / 56700 (Key Support)

VIEW: BULLISH TILL ABOVE 56700 (Key Support)

Government Security Market:

* The Inter-bank call money rate traded in the range of 4.85%- 6.10% on Thursday ended at 4.95% .

* The 10 year benchmark (6.33% GS 2035) closed at 6.50% on Thursday Vs 6.4799% on Wednesday .

Global Debt Market:

Switzerland’s government on Thursday cut its 2026 economic forecast for the country, citing the Trump administration’s punitive tariffs as a “heavy burden” on its industries. Officials held their forecast for the Swiss economy to expand by 1.3% this year, but noted that this level of economic growth was “significantly below-average” for the country. For next year, they are now forecasting gross domestic product (GDP) growth will slow to 0.9% – down from a previous 2026 forecast of 1.2% growth. “Higher U.S. tariffs have further clouded the outlook for the Swiss economy,” officials said in a news release on Thursday. Switzerland is an export-driven economy, and the U.S. was the top foreign destination for its goods in 2024. Back in August, Switzerland was hit with 39% tariffs on goods sent to the U.S. after a Swiss delegation failed to secure a deal with U.S. officials one of the highest country-specific rates imposed by the Trump administration. The country’s biggest exports include watches, pharmaceuticals and precious metals but the country is also renowned for its luxury goods, chocolate and skincare products. Branded and patented pharma products are newly subject to 100% tariffs upon entry to the U.S., unless their manufacturers have or are building production facilities in America.

10 Year Benchmark Technical View :

The 10 year Benchmark (6.33% GS 2035) yield likely to move in the range of 6.49% to 6.51% level on Friday

SEBI Registration number is INH000000081.

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