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Stocks in News

* RAILTEL CORPORATION OF INDIA: The company secured a Rs.10.05 crore domestic order from the Government of Odisha for implementing comprehensive IT solutions. Additionally, it received a Rs.40 crore order from Central Coalfields.

* AEROFLEX: The company acquired an additional 13% equity stake in M R Organisation for Rs.16.7 crore.

* THIRUMALAI CHEMICALS: The company clarified that the Rs.110.62 crore earmarked for general corporate purposes from its Rs.450.62 crore preferential issue will not be used to invest in subsidiaries, joint ventures, or associates.

* TATVA CHINTAN PHARMA CHEM: The board accepted the resignation of CFO Ashok Bothra, effective August 30.

* THOMAS COOK INDIA: The company became the first Indian Forex card provider to enable contactless cross-border payments through a partnership with Google Pay and Visa, enabling secure global mobile transactions.

* INTELLECT DESIGN ARENA: A Tier 1 Canadian bank has deepened its partnership with the company to advance real-time transaction modernization across its U.S. operations.

* MUTHOOT CAPITAL SERVICE: The board approved the private placement of 15,000 NCDs at a face value of Rs.1 lakh each, aggregating up to Rs.150 crore.

* WIPRO: The company secured a multi-year "Smart Grid" contract from Saudi Electric Company–National Grid SA to implement a smart meter data management system for its transmission network.

* THE PHOENIX MILLS: The board has approved acquiring the remaining 49% stake in Island Star Mall Developers from Canada Pension Plan Investment Board for Rs.5,449.16 crore, making it a wholly owned subsidiary.

* MANKIND PHARMA: The company has incorporated a wholly owned subsidiary, Mankind Pharma Lanka, in Sri Lanka.

Economic News

* India-UK Sign Landmark FTA Aiming to Double Trade by 2030: In a landmark development, India and the UK signed a long-awaited Free Trade Agreement during Prime Minister Narendra Modi’s visit to London, in the presence of UK Prime Minister Keir Starmer. Finalised in May, the deal aims to double bilateral trade to $120 billion by 2030. The agreement provides for reduced tariffs on Indian exports such as leather, footwear, and apparel, while also cutting import duties on British whisky and automobiles. The FTA now awaits approval from the British Parliament, a process expected to take about a year.

Global News

* Trump Pressures Powell Over Fed Renovation, Demands Rate Cuts: During a rare visit to the U.S. Federal Reserve, President Donald Trump clashed with Fed Chair Jerome Powell, criticizing the $3.1 billion renovation of the central bank's headquarters and urging aggressive interest rate cuts. Despite calling Powell a “numbskull” earlier in the week, Trump said he doesn’t plan to fire him, calling such a move unnecessary. The tense exchange, just days ahead of a key Fed rate-setting meeting, underscored Trump’s push for a 3-percentage-point rate cut.

Government Security Market:

* The Inter-bank call money rate traded in the range of 4.75% - 5.65% on Thursday ended at 5.45%.

* The 10 year benchmark (6.33% GS 2035) closed at 6.3276% on Thursday Vs 6.3117% on Wednesday .

Global Debt Market:

U.S Treasury yields moved slightly higher on Thursday, as investors continued to monitor the Trump administration’s relations with Federal Reserve Chair Jerome Powell and the European Union. The yield on the benchmark 10-year Treasury was 1 basis point higher, at 4.4%. Yields on Treasury’s across the curve all gained around 1 basis point. President Donald Trump has scheduled a visit to the Fed on Thursday the first time in almost 20 years a U.S. president has paid an official visit to the central bank as he continues to pile pressure on Powell. Trump has been vocal in his criticisms of the Fed chief, arguing that “he’s done a bad job” and should have been cutting interest rates instead of holding them steady. The president has publicly put forward the idea of firing Powell, which has raised concerns among investors about the central bank’s independence. Trump’s visit comes the day after Treasury Secretary Scott Bessent said there was “nothing that tells me that [Powell] should step down right now,” reassuring markets over the Fed chief’s position. Trump also has backed off his threats to fire Powell, earlier this week noting that he will be “out pretty soon anyway.” Elsewhere, attention is turned to trade negotiations between the U.S. and the EU.

10 Year Benchmark Technical View :

The 10 year Benchmark (6.33% GS 2035) yield likely to move in the range of 6.3075% to 6.3275% level on Friday

SEBI Registration number is INH000000081.

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