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Stocks in News

* SAI LIFESCIENCES: US-based PE firm TPG is set to exit Sai Life Sciences through a Rs 2,640 crore bulk deal, selling its entire 14.72% stake via TPG Asia VII SF Pte at Rs 860 per share, a 5.2% discount to NSE’s last close.

* PROTEAN E-GOV: The company secured a Rs.1,160 crore order from UIDAI to set up and operate district-level Aadhaar Kendras.

* SONA BLW PRECISION: The company received PLI certificates for three products—two for traction motors in electric 3-wheelers and one for electric 2 -wheelers.

* MAZAGON DOCK: The company clarified that it has had no negotiations with the Defence Ministry since January 2025, dismissing reports of a Rs.70,000 crore submarine deal with Germany’s Thyssenkrupp as factually incorrect.

* SHREE REFRIGERATORS: The company secured a Rs.106.6 crore defence order from Hindustan Shipyard.

* NHPC: The company expects to commission the remaining capacity of the 300 MW Karnisar Solar Project by Sept 30, with 214.28 MW already operational.

* TATA MOTORS: NCLT approved the composite scheme of arrangement between the company, TML Commercial Vehicles Ltd., and Tata Motors Passenger Vehicles Ltd.

* IRB INFRA: Arm VM7 Expressway received a provisional completion certificate for the 8-lane Gandeva-Ena expressway project.

* STRIDES PHARMA SCIENCES: The company’s step-down arm, Apollo Life Sciences Holdings, has voluntarily deregistered in South Africa.

Economic News

* India's crude oil imports drop to near 18-month low in July: India’s crude oil imports fell 8.7% in July to 18.56 million tons the lowest since February 2024 while fuel demand also dropped 4.3%. Year-on-year, crude imports declined 4.3% and product imports 12.8%. The fall may reflect U.S. tariff threats over Russian oil purchases. India plans to address U.S. trade ties openly, even as refiners resume discounted Russian oil buys.

Global News

* UK shop prices surge on food inflation, fuelling BoE worries amid weak job market signals: British shop prices rose 0.9% in August 2024, the sharpest increase since March last year, driven by a 4.2% jump in food prices, the biggest since February 2023. The BoE warned that rising food inflation is stoking expectations of higher inflation, which may push wage demands. Headline CPI inflation hit 3.8% in July, an 18-month high, and is expected to touch 4% in September before easing. BRC chief Helen Dickinson said staples like butter, eggs, and chocolate rose due to high demand, supply pressures, labour costs, and poor cocoa harvests. Retailers warned finance minister Rachel Reeves that further tax hikes could undermine living standards. The BRC survey covered prices between August 1–7. Meanwhile, Adzuna data showed UK job vacancies fell 1.2% in July, with a 0.3% dip in advertised salaries. Healthcare hiring slowed further, while construction demand stayed firm. Compared to July 2023, vacancies rose 0.3% and salaries were up nearly 9%, highlighting mixed labour market signals.

Technical Snapshot

Key Highlights:

NIFTY SPOT: 24967.75 (0.39%)

TRADING ZONE:

Resistance : 25000 (Pivot Level) and 25250 (Key Resistance).

Support: 24800 (Pivot Level) and 24700 (Key Support).

BROADER MARKET: UNDERPERFORMED MIDCAP 150: 57701.5 (0.12%),

SMALLCAP 250: 17911.55 (-0.04%)

VIEW: Bullish above 25000 (Pivot Level)

BANKNIFTY SPOT: 55139.3 (-0.02%)

TRADING ZONE:

Resistance: 55600 (Pivot Level) / 56150 (Key Resistance)

Support: 54900 (Swing Low) / 54600 (Key Support)

VIEW: Bullish above 55600 (Pivot Level)

Government Security Market:

* The Inter-bank call money rate traded in the range of 4.00%- 5.50% on Monday ended at 5.00% .

* The 10 year benchmark (6.33% GS 2035) closed at 6.5967% on Monday Vs 6.5510% on Friday .

Global Debt Market:

US Treasury yields inched higher as investors continue to digest Federal Reserve Chair Jerome Powell’s speech last Friday and look toward key inflation data due later in the week. The 10-year Treasury yield rose about 1 basis point to 4.269% as of 5:56 a.m. ET. The 2-year yield was over 2 basis points higher at 3.713%. Powell on Friday offered a cautious signal of potential interest rate cuts, stressing that high levels of uncertainty are complicating the central bank’s policy decisions. “While a September rate cut is still not a foregone conclusion, the likelihood of a 25-bps reduction in the fed funds target rate increased in light of Powell’s speech,” said Ronald Temple, a chief market strategist at Lazard. Delivering his closely watched remarks at the Fed’s annual Jackson Hole gathering, Powell pointed to “sweeping changes” in tax, trade, and immigration policies. Those shifts, he said, mean that “the balance of risks appear to be shifting” between the Fed’s dual mandate of maximum employment and stable prices. Investors will be looking toward the release of the July’s core personal consumption expenditures later this Friday. The core PCE price index, which is the Federal Reserve’s preferred inflation gauge, is expected to climb 2.9% year on year from 2.8% the previous month, according to economists polled by Reuters.

10 Year Benchmark Technical View :

The 10 year Benchmark (6.33% GS 2035) yield likely to move in the range of 6.60% to 6.61% level on Tuesday

SEBI Registration number is INH000000081.

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