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Stocks in News

* JK PAPER: The company has completed the acquisition of a 20% stake in Radhesham Wellpack for Rs 32.5 crore, raising its overall shareholding in the firm to 80%.

* LEMON TREE HOTELS: The company has appointed Neelendra Singh as Managing Director for a tenure of five years, effective October 1. It has also named Kapil Sharma as Chief Financial Officer and Executive Director, also for five years starting October 1. In addition, the company has signed a new 55- room property in Maharashtra.

* YATRE ONLINE: The company has announced festive travel discounts for its shareholders, offering them exclusive promo codes applicable on both domestic and international flights.

* SHRIRAM FINANCE: The company will make an additional investment of Rs 300 crore in its subsidiary Shriram Overseas through a rights issue.

* AZAD ENGINEERING: The company has signed a long-term contract with Mitsubishi Heavy Industries valued at approximately Rs 651 crore. Under the agreement, the company will supply highly engineered, complex rotating and stationary airfoils.

* BRIGADE ENTERPRISES: The company will acquire a 100% stake in AMG Info Park for Rs 13.4 crore. It has also entered into an agreement to sell land in Telangana to its subsidiary, Brigade Hotel Ventures, for Rs 110 crore.

* ROSSARI BIOTECH: The company has commissioned an expansion at its Dahej facility, adding 20,000 MTPA of capacity, bringing the total installed capacity to 1.52 lakh MTPA. Its subsidiary, Unitop, has also commissioned 15,000 MTPA of rethoxylation capacity as part of the planned 30,000 MTPA expansion at the Dahej facility.

* NTPC: The company has approved an equity infusion of up to Rs 2,444 crore in its subsidiary, North Eastern Electric Power Corporation, to support three hydro projects and one solar project. Additionally, it has approved a proposal for its joint venture, Aravali Power, to establish a 1,200 TPD MWD torrefied charcoal facility in Haryana.

Economic News

* Government Considers HAL Restructuring to Boost Efficiency and Expedite Military Projects : The government is considering a restructuring of Hindustan Aeronautics Limited (HAL) to improve efficiency and speed up military deliveries. This move comes in light of HAL’s massive Rs.2.7 lakh crore order book, which has constrained capacity and caused delays in critical projects, including the Light Combat Aircraft, affecting the Air Force. An external consultant has been engaged to assist with the initiative.

Global News

* India-China Business Ties Remain Strained Despite High-Level Talks: Despite recent high-level talks between India and China, practical business relations continue to face significant challenges. China is still withholding approvals for rare earth magnet imports, while India enforces Press Note 3 and BIS restrictions. This stalemate is weighing heavily on Indian auto and electronics companies, forcing them to adopt costlier alternatives as discussions for normalization progress slowly.

Government Security Market:

* The Inter-bank call money rate traded in the range of 4.75%- 5.75% on Friday ended at 5.25% .

* The 10 year benchmark (6.33% GS 2035) closed at 6.5231% on Friday Vs 6.4972% on Thursday .

Global Debt Market:

U.S. Treasury yields were mixed on Friday as investors closely monitored a key inflation measure and weighed the state of the U.S. economy. The 10- year Treasury yield was marginally higher at 4.178%. The 2-year Treasury yield was little changed at 3.661%. The 30-year Treasury bond yield was up less than a basis point at 4.754%. Investors are anticipating the release of August’s personal consumption expenditures index, set to be published at 8:30 a.m. and known as the Federal Reserve’s preferred inflation gauge. Economists are forecasting the print to show an uptick in inflation. This comes after the weekly initial jobless claims came in lower than expected, dropping to 218,000 from 232,000, and below the Dow Jones estimate of 235,000. Third-quarter U.S. GDP growth came in higher, showing an expansion of 3.8% yearly, higher than 3.3% expected growth from economists polled by Dow Jones. The data showed signs of a resilient economy and jobless claims in particular are influential to the Fed’s monetary policy decisions. A strong labor market could mean the central bank may be less inclined to cut interest rates. Traders are still in pricing in two quarter-point rate cuts this year, according to the CME FedWatch Tool. Investors will also await data on the University of Michigan’s final consumer sentiment index for September on Friday morning.

10 Year Benchmark Technical View :

The 10 year Benchmark (6.33% GS 2035) yield likely to move in the range of 6.5150% to 6.5250% level on Monday

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