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Stocks in News

* BHARAT HEAVY ELECTRICALS: The board noted that the Department of Investment and Public Asset Management rejected the proposal for a joint venture between BHEL and REC Power Development and Consultancy Limited.

* ALLCARGO LOGISTICS: The company aims to drive long-term value through ROI-based digital execution and projects revenue and EBITDA to grow at a CAGR of 12% and 21% respectively by FY30.

* RITS: The company secured a $18 million (Rs 153 crore) order from South Africa’s Talis Logistics to supply diesel electric locomotives.

* NTPCGREEN ENERGY: The company commissioned a 25 MW solar project in Gujarat, part of a 37.5 MW project with the balance capacity pending commissioning.

* CRYSIL: The company clarified it has no plans for a fresh QIP for the Bhavnagar kitchen appliances assembly line, with the expansion to be funded from earlier QIP proceeds.

* VERANDA LEARNING: The company transferred its vocational segment to SNVA EduTech for a 50% stake in a new entity, which targets over Rs 250 crore revenue in FY26 and plans a future public listing.

* ALCARGO GATI: The company reported that NCLT has reserved its order on the scheme of arrangement involving Allcargo Logistics and its demerged arms.

* ITCONSE E-SOLUTION: The company received a Rs 3.8 crore order from HAL, Ministry of Defence, to provide manpower services.

*  SUPREME PETROCHEMICAL: The company commissioned two ABS compounding lines with a total capacity of 20,000 TPA at its Amdoshi facility

Economic News

* Trump’s 100% US tariff on branded drugs from Oct 1 threatens Indian pharma unless they build local manufacturing: The Trump administration will impose a 100% import tariff on branded and patented drugs from October 1, 2025, unless companies are building or have started construction of manufacturing plants in the US. India, the US’s key pharma supplier, exported $3.7 billion worth of drugs in H1 2025. While Cipla, Dr Reddy’s, and Lupin already have US facilities, Sun Pharma and Biocon may face impact depending on their US capex plans. The tariff primarily targets branded drugs but comes amid broader US-India trade tensions, with past proposals suggesting tariffs on Indian pharma could reach 250%, keeping complex generics and specialty drugs under scrutiny.

Global News

* Trump team hosts UN side event positioning U.S. as global defender of free speech amid tensions with Europe: On the sidelines of the U.N. General Assembly, Trump administration officials hosted an event positioning the U.S. as a defender of First Amendment-style freedoms amid growing clashes with Europe over content moderation and free speech limits. The invitation-only gathering, aimed at countering what the administration views as censorship in democratic nations, included representatives from American tech firms, EU member states, and conservative groups, though planned invitations to farright European parties like Germany’s AfD and France’s National Rally were ultimately not attended. The event follows Trump’s combative UN speech criticizing European immigration policies and reflects broader U.S. efforts, including visa restrictions and opposition to the EU’s Digital Services Act and the UK’s Online Safety Act, to challenge legislation and practices seen as curbing free expression abroad.

Technical Snapshot

Key Highlights:

NIFTY SPOT: 24890.85 (-0.66%)

TRADING ZONE:

Resistance : 25000 (Pivot Level) and 25350 (Key Resistance).

Support: : 24800 (Pivot Level) and 24500 (Key Support).

BROADER MARKET: Inline MIDCAP 150: 57555.9 (-0.64%),

SMALLCAP 250: 17966.8 (-0.57%)

VIEW: Bearish below 24800 (Pivot Level).

BANKNIFTY SPOT: 54976.2 (-0.26%)

TRADING ZONE:

Resistance: 55500 (Pivot Level) / 55800 (Key Resistance)

Support: 54700 (Pivot Level) / 54400 (Key Support)

VIEW: Bearish below 54700 (Pivot Level)

Government Security Market:

* The Inter-bank call money rate traded in the range of 4.75%- 5.75% on Thursday ended at 5.00% .

* The 10 year benchmark (6.33% GS 2035) closed at 6.4972% on Thursday Vs 6.4908% on Wednesday .

Global Debt Market:

U.S. Treasury yields held steady on Thursday as investors awaited the latest weekly jobless claims data and monitored the state of the U.S. economy. The 10-year Treasury yield was down less than one basis point at 4.141%, while the 2-year Treasury yield was marginally higher at 3.601%. The 30-year Treasury bond yield was lower by just over one basis point to 4.742%. The main economic data on Thursday will be the weekly jobless claims, set to be released on Thursday morning, and is a key indicator that could influence the Federal Reserve’s monetary policy decisions as concerns grow about a softening labor market and an increase in layoffs. Jobless claims were lower last week after a brief jump the week earlier. Federal Reserve Chairman Jerome Powell said Tuesday that a weakening labor market is outweighing concerns about persistent inflation. “The increased downside risks to employment have shifted the balance of risks to achieving our goals,” Powell said. “This policy stance, which I see as still modestly restrictive, leaves us well positioned to respond to potential economic developments.” Investors will now keenly await the personal consumption expenditures index, a key inflation gauge for the Fed, which will offer insights about inflation pressures and the state of the U.S. economy. They will also monitor any potential developments regarding the possibility of a government shutdown.

10 Year Benchmark Technical View :

The 10 year Benchmark (6.33% GS 2035) yield likely to move in the range of 6.4850% to 6.5050% level on Friday.

SEBI Registration number is INH000000081.

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