IGI Logo

Stocks in News

* POWER GRID CORP.: The company has acquired SR WR Power Transmission for Rs 11.29 crore.

* STERLING & WILSON: The company has secured three new orders worth Rs 1,772 crore, bringing its total order inflows for the fiscal year to Rs 3,775 crore.

* TATA POWER: The company has temporarily suspended operations at its Mundra units to address technical issues. The units are expected to remain closed until November 30.

* GENESYS INTERNATIONAL CORP.: The company has secured a business contract from Tata Motors Passenger Vehicles to supply Native Navigation and ADAS (Advanced Driver Assistance System) maps.

* HINDUSTAN AERONAUTICS: The company has inaugurated the third production line of the Light Combat Aircraft Tejas Mk1A and the second production line of the Turbo Trainer-40 at its Nashik unit.

* INTERGLOBE AVIATION: The company has signed an agreement with Airbus to firm up its order for 30 additional A350-900 aircraft.

* ACME SOLAR: The company has commissioned the first phase (28 MW) of its 100 MW ACME Eco Clean wind power project in Gujarat. Once all phases are completed, the project will contribute to a total operational capacity of 2,918 MW.

* VIJAYA DIAGNOSTIC CENTRE: The CLT has approved the amalgamation of Medinova Diagnostic Services with the company, with an appointed date of April 1, 2024.

* COAL INDIA: The company has executed a Sponsor Support Undertaking worth Rs 12,250 crore with GAIL, RCF, and FCIL for Talcher Fertilizer Ltd (TFL), a joint venture focused on a coal gasification-based fertilizer plant in Odisha.

Economic News

* India-Brazil Strategic Alliance: A New Era of Trade and Technological Collaboration: Brazilian President Luiz Inacio Lula da Silva has announced a strategic alliance with India to strengthen political, economic, and technological ties, following Vice President Geraldo Alckmin’s visit to New Delhi. The partnership aims to leverage complementarities in technology, industry, mining, agriculture, and space, highlighted by developments such as Embraer’s entry into India and an electronic visa to boost business travel. Against the backdrop of high US tariffs, both leaders see opportunities for cooperation rather than competition, with India growing at 7% and Brazil achieving a 16% agricultural harvest. With bilateral trade at USD 12.19 billion in FY2024-25 and a target of USD 20 billion in five years, the alliance seeks to transform the India-Brazil relationship

Global News

* Global Economy Shows Resilience Amid Uncertainty, Leaders Call for Reforms: International finance chiefs ended the IMF and World Bank meetings noting the global economy’s resilience amid U.S.-China tensions, high debt, and policy uncertainties under Trump’s second term. While markets held up, officials stressed the need for reforms, transparency, and stronger regional and bilateral ties, including trade diversification. Climate risk was highlighted as a macro-critical challenge, and leaders warned that despite resilience, there is no room for complacency in managing financial, economic, and geopolitical uncertainties.

Technical Snapshot

Key Highlights:

NIFTY SPOT: 25709.85 (0.49%)

TRADING ZONE:

Resistance :25800 (Pivot Level) and 26000 (Key Resistance).

Support: 25500 (Pivot Level) and 25400 (Key Support).

BROADER MARKET: UNDERPERFORMED MIDCAP 150: 58902.25 (-0.57%),

SMALLCAP 250: 18122.4 (-0.05%)

VIEW: BULLISH TILL ABOVE 25400 (Key Support).

BANKNIFTY SPOT: 57713.35 (0.51%)

TRADING ZONE:

Resistance: 58000 (Pivot Level) / 58500 (Key Resistance)

Support: 57300 (Pivot Level) / 57000 (Key Support)

VIEW: BULLISH TILL ABOVE 57000 (Key Support)

Government Security Market:

* The Inter-bank call money rate traded in the range of 4.85%- 5.98% on Friday ended at 5.25% .

* The 10 year benchmark (6.33% GS 2035) closed at 6.5131% on Friday Vs 6.50% on Thursday .

Global Debt Market:

U.S. Treasury yields were lower on Friday as the government shutdown entered its 17th day and investors monitored the state of the U.S. economy. At 5:22 a.m. ET, the 10-year Treasury yield was down 1 basis point to 3.963%, while the 2-year Treasury note was lower by nearly 3 basis points to 3.399%. The 30-year bond yield was litle changed at 4.58%.Investors are watching on with the government shutdown continuing into its third week as lawmakers repeatedly failed to reach an agreement on the federal budget. The shutdown has resulted in a stoppage of crucial economic data, which would offer insights on the state of the U.S. economy. As investors remain directionless on the health of the economy they’re instead relying on alternative sources including speeches from Federal Reserve governors. Fed Bank of St Louis. President Alberto Musalem is set to speak later today. Meanwhile concerns have grown about bad lending practises in the private credit market after two auto-related industries went bankrupt this year, and on Wednesday evening Zions Bancorporation disclosed a $50 million loss on two commercial loans. Then on Thursday, Western Alliance claimed that a borrower had committed fraud. “Today got real ugly, but at least we finally have something that can make the Federal Reserve itchy to cut interest rates sooner rather than later: bank loans gone bad,” CNBC’s Jim Cramer said, Thursday. “Nothing motivates the Fed to move faster than credit losses, because they’re a definitive sign that the economy is going south.”

10 Year Benchmark Technical View :

The 10 year Benchmark (6.33% GS 2035) yield likely to move in the range of 6.50% to 6.52% level on Monday

SEBI Registration number is INH000000081.

Please refer disclaimer at https://geplcapital.com/term-disclaimer