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* NATCO PHARMA:

The company acquired a 35.75% stake in Adcock Ingram for Rs.2,000 crore, as part of its plan to set up a South African subsidiary, Natco Pharma South Africa Proprietary, with a total investment of up to Rs.2,100 crore.

* REITS:

The company signed an agreement with Coal India’s subsidiary to explore opportunities in mining and renewable energy operations.

* ANGLE ONE:

The company received approval to invest up to Rs.104 crore for a 26% stake in a life insurance joint venture with LivWell Holding.

* ALLCARGO LOGISTICS:

The company’s LCL volume declined to 707,000 cubic metres in June 2025, down 3% month-on-month and 9% year-on-year.

* BEML:

The company secured a Rs.294 crore order from the Ministry of Defence for supplying HMV 6x6 vehicles.

* REGIGARE ENTERPRISES:

The RBI has lifted all corrective action plan restrictions on Religare Finvest Ltd, ending over seven years of regulatory curbs.

* INDUSIND BANK:

The company approved raising Rs.20,000 crore through debt securities via private placement and an additional Rs.10,000 crore through securities issuance, including ADRs, GDRs, and QIPs.

* INDIAN PESTICIDES:

The company will set up a 4,000 MT project at its Sandila plant with an estimated investment of Rs.65 crore.

* VERANDA LEARNINGS:

The company began restructuring by demerging its commerce vertical and plans to acquire the remaining 24% stake in Veranda XL. The board will also meet on July 28 to consider issuing securities on a preferential basis.

* VERANDA LEARNING:

The company closed its QIP and approved the allocation of 1.58 crore shares at Rs 225.2 per share.

* TILAKNAGAR INDUSTRIES:

The company’s arm will acquire the Imperial Blue brand from Pernod Ricard for an enterprise value of Rs.4,150 crore through a slump sale.

Economic News

* Net FDI inflows fell 98% in May as repatriation increased 24%: India's net foreign direct investment plummeted 98% to $35 million in May, driven by increased repatriation and decreased gross inflows. While gross inflows experienced an 11% YoY decline to $7.2 billion, repatriation surged by 24% to $5 billion. Despite this FDI dip, India's foreign exchange reserves remain robust at $696.7 billion.

Global News

* Euro zone firms stay upbeat on growth but face profit squeeze amid trade tensions: Britain's public borrowing rose sharply to £20.7 billion in June—well above forecasts—driven by high inflation pushing up debt interest costs, which reached £16.4 billion, the third highest on record. Over April– June, borrowing totaled £57.8 billion, up 15% YoY, making it the third-highest first-quarter deficit historically. The current budget deficit reached £44.5 billion in the same period, £5 billion more than expected. Amid weak economic growth and the government’s decision to drop welfare cuts, Finance Minister Rachel Reeves faces growing pressure to raise taxes—potentially by £20 billion—to meet fiscal targets, with rising defence spending adding to the challenge. Higher National Insurance contributions have offered some fiscal.

Technical Snapshot

Key Highlights:

NIFTY SPOT: 25219.9 (0.63%)

TRADING ZONE:

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

Support: 25150 (Pivot Level) and 25000 (Key Support).

BROADER MARKET: UNDERPERFORMED

MIDCAP 150: 59307.1 (0.34%), SMALLCAP 250: 18893.2 (0%)

VIEW: Bearish till below 25300 (Pivot Level).

BANKNIFTY SPOT: 57210.45 (0.8%)

TRADING ZONE: Resistance: 57500 (Pivot Level) / 57800 (Key Resistance)

Support: 56700 (Pivot Level) / 56500 (Key Support).

VIEW: Bullish till above 56500 (Key Support).

Government Security Market:

* The Inter-bank call money rate traded in the range of 4.75% - 5.85% on Wednesday ended at 5.25%.

* The 10 year benchmark (6.33% GS 2035) closed at 6.3117% on Wednesday Vs 6.3069% on Tuesday .

Global Debt Market:

U.S. Treasury yields crept higher on Tuesday as investors awaited Federal Reserve Chairman Jerome Powell’s speech. The 10-year Treasury yield was nearly 2 basis points higher at 4.388%. The 2-year yield rose 1 basis point to 3.865%. The 30-year yield was 2 basis points higher at 4.956%. Investors will be monitoring Powell’s speech at an event in Washington on Tuesday morning for more clues about monetary policy. President Donald Trump has been calling for the central bank leader’s removal for months now, and the conflict remains in focus for investors. U.S. Treasury Secretary Scott Bessent suggested Monday that the Federal Reserve as an institution needs to be reviewed. “What we need to do is examine the entire Federal Reserve institution and whether they have been successful,” Bessent said in an interview on CNBC’s “Squawk Box.” “Has the organization succeeded in its mission? If this were the [Federal Aviation Administration] and we were having this many mistakes, we would go back and look at why has this happened.” Bessent also questioned the Fed’s decision not to lower interest rates this year, given that the U.S. has “seen very little, if any, inflation.” ″I think this idea of them not being able to break out of a certain mindset,” Bessent said, referring to Fed officials. “All these Ph.D.s over there, I don’t know what they do.” It’s quiet on the economic data front this week, but investors will keep an eye out for existing home sales data for June on Wednesday, as well as weekly initial jobless claims and new home sales in June on Thursday. They will also await data on durable goods orders for the previous month, on Friday.

10 Year Benchmark Technical View :

The 10 year Benchmark (6.33% GS 2035) yield likely to move in the range of 6.3075% to 6.3150% level on Thursday.

SEBI Registration number is INH000000081.

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