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Stocks in News

* UNITED SPRITS: The company secured additional orders worth Rs.732 crore since its last update on Oct. 22.

* BEML: The company signed three MoUs worth Rs.350 crore with Dredging Corporation of India to supply cable and suction dredgers.

* RELIANCE INDUSTRIES: The company partnered with Google to offer AI solutions, giving Jio users free access to Google AI Pro for 18 months, valued at Rs.35,100 per user.

* BIOCON: The company’s subsidiary, Biocon Biologics UK, has been deregistered as a public company and renamed Biocon Biologics UK PLC.

* TIME TECHNOPLAST: The company secured an order worth Rs.190 crore for HDPE pipe products, raising its total order book in this segment to about Rs.280 crore.

* LT FOODS: The company approved an additional equity infusion of £5 million in its subsidiary, LT Foods UK.

* ADANI GREEN: The company’s subsidiaries, Adani Solar Energy Jodhpur Six and Adani Renewable Energy Forty One, signed an agreement to supply 60 MW of solar-wind hybrid power to a commercial and industrial customer.

* HINDUSTAN UNILIVER: The company received NCLT approval to demerge its ice cream business into Kwality Wall’s India Ltd.

* GREAT EASTERN SHIPPING: The company signed a contract to acquire a Japanese bulk carrier with a capacity of 63,500 DWT.

* LTIMINDTREE: The company will consider raising up to Rs.10,000 crore through QIP or other fundraising routes on Nov. 7.

* TATA COMMUNICATIONS: The company’s subsidiary, MGAGE SA de CV, has been wound up and deemed liquidated effective Oct. 1, 2025.

Economic News

* Engineering goods exports grow in Sep, despite 9.4 pc drop in shipments to US: EEPC: Indian engineering exports saw a 2.93 percent rise in September, reaching USD 10.11 billion. This growth occurred even with a drop in shipments to the United States. Exports to China and other regions showed positive movement. The sector's cumulative growth for the first half of the fiscal year stands at 5.35 percent. This indicates resilience in the engineering goods market.

* GST collection sparkles despite wholesale cuts; Govt foresees marginal shortfall from budget estimates, upbeat about Oct numbers: India's goods and services tax collections are strong even after recent rate cuts. This gives the government confidence in meeting budget estimates. The reforms are supporting local consumption and government revenue. Officials expect any deviation from budgeted revenues to be modest. The timing of the reforms with the festive season boosted domestic sales.

Global News

* China green flag up: 4 Indian cos can import rare earth magnets: China has restarted supplying heavy rare earth magnets to India after a six-month halt. This brings relief to Indian companies in electric vehicle, renewable energy, and consumer electronics sectors. However, China has imposed conditions. These magnets cannot be re-exported to the US or used for military purposes. This development follows a meeting between US and Chinese leaders.

Technical Snapshot

Key Highlights:

NIFTY SPOT: 25877.85 (-0.68%)

TRADING ZONE:

Resistance: 26000 (Multiple Touches) and 26100 (Key Resistance).

Support: 25700 (Pivot Level) and 25500 (Key Support).

BROADER MARKET: Inline MIDCAP 150: 60096.25 (-0.09%),

SMALLCAP 250: 18469.7 (-0.1%)

VIEW: BULLISH TILL ABOVE 25500 (Key Support).

BANKNIFTY SPOT: 58031.1 (-0.61%)

TRADING ZONE:

Resistance: 58400 (Pivot Level) / 58800 (Key Resistance)

Support: 57700 (Pivot Level) / 57400 (Key Support)

VIEW: BULLISH TILL ABOVE 57400 (Key Support)

Government Security Market:

* The Inter-bank call money rate traded in the range of 4.85%- 5.68% on Thursday ended at 5.00% .

* The 10 year benchmark (6.33% GS 2035) closed at 6.5730% on Thursday Vs 6.5354% on Wednesday 

Global Debt Market:

U.S. Treasury yields inched lower on Thursday as investors digested the Federal Reserve’s latest interest rate cuts and uncertainty regarding future monetary policy. At 6:22 a.m. ET, the benchmark 10-year Treasury yield was up less than 1 basis point to 4.066%. The 2-year Treasury note yield was also up less than a basis point to 3.59%. Meanwhile, the 30-year bond yield added 2 basis points to 4.624%. Investors are weighing the Fed’s latest interest rate cut, which was widely expected and the second time policymakers cut rates this year. In a 10-2 vote, the central bank’s Federal Open Market Committee lowered its benchmark overnight borrowing rate to a range of 3.75%-4%. The reduction came even as the Fed was flying blind on economic data due to the ongoing government shutdown. In post-meeting statements, Fed Chairman Jerome Powell cast doubt on whether another rate cut is coming in the next meeting in December. “In the committee’s discussions at this meeting, there were strongly differing views about how to proceed in December,” Powell said during his post-meeting news conference. “A further reduction in the policy rate at the December meeting is not a foregone conclusion. Far from it.” Elsewhere, investors also kept an eye on President Donald Trump and Chinese President Xi Jinping’s meeting in South Korea to discuss trade, which concluded on Thursday on a positive note.

10 Year Benchmark Technical View :

The 10 year Benchmark (6.33% GS 2035) yield likely to move in the range of 6.56% to 6.58% level on Friday.

SEBI Registration number is INH000000081.

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