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Stocks in News

* UNICHEM LABS: The company received a demand notice of €19.48 million from the European Commission, of which it has already paid €2.79 million in instalments, leaving a balance of €16.69 million payable.

* ALLIED BLENDERS AND DISTILLERS: Arm announced the launch of its portfolio at the Duty-Free Travel Retail in Bengaluru.

* BANDHAN BANK: The bank sold 15.39 crore Yes Bank shares at Rs 21.5 each to SMBC, cutting its stake from 0.7% to 0.21%.

* SAI LIFE SCIENCES: The company opened a dedicated veterinary API production facility in Bidar, India, aiming to offer efficient and scalable manufacturing solutions to global animal health companies.

* BIOCON: Arm Biocon Biologics’ drug Yesafili is now publicly funded in Ontario for advanced retinal disease treatment, marking the first Eylea biosimilar approved by Health Canada.

* AFRIN INDIA: The company secured a Rs.180 crore order from JFE Shoji India to supply 6,900 MT of aluminium products.

* PNC INFRATECH: The company received a provisional completion certificate for the four-laning project of NH 5308 from Mathura Bypass.

* RAMKY INFRA: Hyderabad Metropolitan Water Supply and Sewerage Board signed a Rs.2,085 crore concessionaire agreement with the company’s arm, Mallannasagar Water Supply.

* NETWEB TECH: Goldman Sachs Asset Management reduced stake in the company to 3% from 5%.

Economic News

* Step up infrastructure credit flow, India requires $4.5 trillion growth capital: India requires a substantial $4.5 trillion infrastructure investment by 2030 to maintain its desired growth. Sivasubramanian Ramann highlighted the shift in financing from banks to pension and insurance funds, better suited for long -term projects. Regulatory reforms and wider use of credit enhancement schemes are expected to boost credit flow and bond issuance for infrastructure companies.

* Net direct tax mop-up rises 9% to Rs.10.82 lakh crore; govt officials confident of meeting FY26 target: India's net direct tax collections saw a rise. The collections increased by 9.18% year-on-year. As of September 17, the collection reached Rs.10.82 lakh crore. Advance tax payments grew, but at a slower pace. Gross collections also experienced an increase. The government issued refunds, but less than the previous year. Officials are optimistic about meeting the annual target.

Global News

* U.S. jobless claims drop, but weak hiring keeps labor market under pressure: U.S. jobless claims fell by 33,000 to 231,000 last week, reversing the prior week’s spike caused by fraud-related filings in Texas, but the labor market remains soft as hiring slows due to tariffs and tighter immigration rules. Despite layoffs staying low, payroll growth has cooled sharply, with only 22,000 jobs added in August and unemployment at a four-year high of 4.3%. Continuing claims dipped to 1.92 million, though errors suggest the figure is slightly higher, while the average duration of unemployment rose to 24.5 weeks, the longest in 3.5 years. Economists see the drop in claims as a sign of resilience, arguing Fed concerns may be overstated, though trade risks persist as tariffs weigh on economic activity.

Government Security Market :

* The Inter-bank call money rate traded in the range of 4.75%- 5.65% on Thursday ended at 5.00% .

* The 10 year benchmark (6.33% GS 2035) closed at 6.5139% on Thursday Vs 6.4726% on Wednesday .

Global Debt Market:

U.S. Treasury yields were lower on Thursday as investors evaluate the latest interest rate decision and the broader state of the U.S. economy. At 3:54 a.m. ET, the 10-year Treasury yield dipped over 3 basis points to 4.045 and the 2- year Treasury yield shed over 2 basis points to 3.524%. The 30-year Treasury bond yield was also 3 basis points lower at 4.643%. Investors are still taking in the latest interest rate decision from the Federal Reserve. In a 11-to-1 vote, the central bank agreed to lower its benchmark overnight lending rate by a quarter percentage point to a range between 4.00%-4.25%. Following the decision, Fed Chairman Jerome Powell said during a press conference that this rate move was a matter of “risk management” and also dampened hopes for a lengthy rate cut trajectory from the central bank. Policymakers are expecting to agree to two more trims this year, and just one more in 2026. “The Fed’s 25 basis point cut is a clear signal: the softening labor market and stubborn inflation have pushed policymakers to act but gradually. This isn’t a pivot, it’s a measured step,” said Gina Bolvin, president at Bolvin Wealth Management Group. “For investors, this means modest rate relief, not fireworks,” she added. “The Fed is walking a fine line, and upcoming inflation and jobs data will determine what comes next.” Investors will now await the weekly initial jobless claims set to be released on Thursday morning.

10 Year Benchmark Technical View

The 10 year Benchmark (6.33% GS 2035) yield likely to move in the range of 6.51% to 6.5250% level on Friday

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