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Stocks in News

* BPCL: The company incorporates a wholly-owned arm in Singapore, Bharat Petroleum Global Energy Services, to set up a trading desk for crude oil and natural gas.

* BRIGADE ENTERPRISES: The company has partnered with Primus Senior Living to develop three senior living communities in South India, with a total estimated gross development value (GDV) of ?750 rore.

* INFO EDGE: The company will invest up to ?250 crore in the B8 Fund, with its subsidiary Smartweb serving as the sponsor and investment manager.

* VISHAL MEGA MART: Vishal Mega Mart Ltd.’s promoter plans to sell a 6.5% stake (30.5 crore shares) worth ?3,508 crore via a block deal at a floor price of ?115 per share, a 10% discount to the current market price, with a 150-day lock-in on the remaining holding.

* NBCC: The company secures a Rs 775 crore order from the Delhi Development Authority (DDA) for the redevelopment of staff quarters.

* MSTC: The company emerges as the L1 bidder for a Coal India tender to provide NRS Linkage auction services for three years.

* IRCON: The Patna High Court dismisses the company's plea regarding a Rs 109 crore VAT demand related to the Ganga Bridge project.

* ONESOURCES SPECIALTY PHARMA: The company receives 'No Objection' letters from NSE and BSE for the merger of four entities, including Steriscience Specialties and Brooks Steriscience.

* URGO CAPITAL: The company receives 'No Objection' from the RBI for the amalgamation of its arm, Profectus Capital, with itself.

* HINDALCO INDUSTRIES: The CFIUS review process for the AluChem acquisition is temporarily halted due to a partial US government shutdown.

* JIO FINANCIAL SERVCES: The company subscribes to 3.4 crore shares of its arm, Jio Credit, for Rs 2,000 crore to fund business operations.

Economic News

* overnment panel said to review future of key GM food crop: A panel of Indian ministers is set to review a genetically modified rapeseed crop. This decision could pave the way for engineered food varieties in India's vast agricultural market. The government aims to boost farm productivity amid growing population and economic strain. India currently imports significant amounts of vegetable oil. This move follows recent trade talks with the US.

Global News

* Tokyo core inflation slips below the Bank of Japan’s 2% target, adding pressure on the pace of future rate hikes: Core inflation in Tokyo slowed to 1.8% in February from 2.0% in January, falling below the Bank of Japan’s 2% target for the first time in 16 months due to fuel subsidies and fading food price hikes, though underlying inflation (excluding fresh food and fuel) rose to 2.5%, indicating steady price momentum. While the BOJ, led by Kazuo Ueda, is expected to continue gradual rate hikes after raising rates to 0.75% in December, softer inflation may increase pressure from Prime Minister Sanae Takaichi to slow tightening. Meanwhile, factory output rose 2.2% in January, missing expectations, with manufacturers projecting further weakness ahead, adding to policy uncertainty.

Government Security Market:

* The Inter-bank call money rate traded in the range of 4.50%- 5.20% on Thursday ended at 4.75%.

* The 10 year benchmark (6.48% GS 2035) closed at 6.6943% on Thursday Vs 6.6777% on Wednesday .

Global Debt Market:

US Treasuries aren’t factoring in enough risk of delayed easing by the Federal Reserve that ultimately isn’t delivered. Money markets have pulled back bets for a June cut, down to 50% from fully priced earlier this month. The shift in pricing began with the January jobs report as nonfarm payrolls rose more than forecast and the unemployment rate unexpectedly dropped. An upside surprise in December core PCE provided further momentum. The Fed also played a role with the latest minutes revealing officials appeared surprisingly wary of cutting interest rates when they met last month. Governor Miran’s remark that he now sees fewer cuts this year due to an improving labor market stood out given his reputation as one of the Fed’s most dovish members. Recent rhetoric has been reflected in Bloomberg Economics’ natural language processing model that implies a notable hawkish shift. However, it’s not had much impact on shorter-dated Treasuries, with two-year yields holding near 3.5%. The muted reaction looks largely down to traders also piling on bets the Fed will continue cutting rates into next year instead of raising them. Fears of AI-related job losses may to blame, in which case, those wagers look misplaced. Governor Lisa Cook has warned they may not be able to counter rising unemployment driven by adoption of artificial intelligence. Richmond President Tom Barkin said interest-rate policy shouldn’t be used to counter the disruption that artificial intelligence may cause to businesses and the labor market.

10 Year Benchmark Technical View :

The 10 year Benchmark (6.48% GS 2035) yield likely to move in the range of 6.6825% to 6.6975% level on Friday.

SEBI Registration number is INH000000081.

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