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Stocks in News

* MAHINDRA AND MAHINSRA: M&M reported strong performance in May, with total production rising 27.6% YoY to 89,626 units, sales up 16.6% to 80,458 units, and exports surging 36.7% to 3,652 units.

* BIKAJI FOODS INTERNATIONAL: NCLT approved the amalgamation of Vindhyawasini Sales with the company.

* CG POWER: The company clarified that recent media reports about its chip plans being affected by turmoil at wafer supplier Wolfspeed are inaccurate and not based on any official statement from Renesas.

* GRE SHIPPING: The company signed an MoU with Sweden’s Berg Propulsion for marine propulsion systems and partnered with Denmark’s SunStone for collaboration in expedition cruise vessels.

* ENVIRO INFRA ENVIROMENT: EIE Renewables, a subsidiary of the company, acquired Sunaxis, making it a step-down wholly-owned subsidiary.

* AFCONS INFRASTRUCTURE: The company secured a Rs 700 crore order from Reliance Industries for construction work on vinyl projects at Dahej, Gujarat.

* LUPIN: Lupin received tentative USFDA approval for Oxcarbazepine ER Tablets, used to treat partial onset seizures in patients aged 6 and above; the drug will be manufactured at its Nagpur facility.

* PNC INFRA: The company received a Rs 240 crore order from the Rajasthan government for constructing a flyover in Bharatpur, to be completed in 24 months.

* HINDUSTAN COPPER: The company signed an MoU with Rites to secure supply chain of metals and minerals, including critical minerals.

Economic News

* RBI's next interest rate cut action likely in December: Reserve Bank of India may keep interest rates steady in August. However, further reduction is expected later this year. This follows a larger-than-expected cut aimed at boosting economic growth. Most institutions anticipate a rate cut in either October or December. The central bank will also lower the cash reserve ratio to inject liquidity. These measures surprised the markets.

Global News

* OECD lowers global growth forecasts amid rising trade tensions and economic uncertainty: The OECD has lowered its global growth forecast, citing the growing impact of the U.S. trade war under the Trump administration. Global growth is expected to slow from 3.3% in 2024 to 2.9% in both 2025 and 2026, below earlier estimates. Rising protectionism risks inflation, supply chain issues, and financial market instability. The U.S. economy is projected to grow just 1.6% in 2025 and 1.5% in 2026, down sharply from previous forecasts, as tariffs raise consumer costs and dampen corporate investment. While tariffs may boost domestic manufacturing, they reduce purchasing power and add uncertainty. Budget deficits are expected to widen to 8% of GDP by 2026 due to tax cuts and slower growth. Inflation pressures suggest the Federal Reserve will keep rates steady in 2024 and cut them by 2026. China’s growth is forecast at 4.7% in 2025 and 4.3% in 2026, supported by government aid. The euro area’s growth remains steady at around 1%, helped by strong labor markets, rate cuts, and German public spending. The UK’s outlook has slightly improved, with growth around 1.3% in 2025 and 1.0% in 2026, a slight downgrade from earlier estimates.

Key Highlights:

NIFTY SPOT: 25003.05 (1.02%)

TRADING ZONE:

Resistance :25130 (Multiple Touches) and 25250 (Key Resistance).

Support:24850 (Multiple Touches) & 24700 (Key Support).

BROADER MARKET: OUTPERFORMED MIDCAP 150: 59010.3 (1.21%),

SMALLCAP 250: 18582.45 (0.81%)

VIEW: Bullish till above 24700 (Key Support).

BANKNIFTY SPOT: 56578.4 (1.47%)

TRADING ZONE: Resistance: 56800 (Multiple Touches) / 57300 (Key Resistance)

Support:56000 (Pivot Level) / 55500 (Key Support).

VIEW: Bullish till above 55500 (Key Support).

SEBI Registration number is INH000000081.

Please refer disclaimer at https://geplcapital.com/term-disclaimer