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June 09, 2026 TOP NEWS War
update: Iran and Israel have halted their mutual attacks, but Tehran has
warned that strikes will resume if Israel continues its aggression. US
President Donald Trump told Benjamin Netanyahu to be careful, or you will be
on your own very soon. Vice President JD Vance has told US is in a good
position to achieve Trump’s goals through negotiations with Iran. Brent crude
dropped below $95/ barrel and reached $93.9/ barrel. Asian markets are in
green in the range of 0.5-3%. Gift nifty indicates a 50
points cut for Nifty. JNK India: The company has
received a large order worth between Rs 100 crore and Rs 300 crore from CC7
Emirates Engineering Solutions L.L.C., UAE, for waste gas handling systems Positive Vodafone:
The Bombay High Court has struck down the Centre’s one-time spectrum charge
imposed on Bharti Airtel Ltd. and Vodafone Idea Ltd., ruling that the
government lacked the authority to retrospectively alter the financial terms
of telecom licences years after they had been
granted. The dispute stemmed from the Centre’s decision, following the
Supreme Court’s 2G spectrum verdict, to levy a one-time charge on incumbent
operators for spectrum held beyond prescribed thresholds. The Department of
Telecommunications had sought to levy the charge on spectrum holdings above
6.2 MHz from July 2008, arguing that operators were required to pay
separately for spectrum allocation in addition to spectrum usage charges. The
ruling is expected to provide relief of about Rs 20,000 crore to telecom
operators, including an estimated Rs 11,000 crore for Vodafone Idea and Rs
9,000 crore for Bharti Airtel, by quashing the one-time spectrum charge
demands. Positive NLC India : The Government of India will sell up to a 3
percent stake in NLC India through an offer-for-sale (OFS), with a floor
price of Rs 303 per share. The OFS will open on June 9 for non-retail
investors and on June 10 for retail investor. Negative Lupin:
The company announced its strategic collaboration with LABORATORIOS ERN S.A.
(ERN), a well‑established Spanish pharmaceutical company, for the launch of Luforbec (beclometasone/formoterol)
100/6, a fixed dose combination in a pressurised
metered dose inhaler, for the treatment of adult asthma and chronic
obstructive pulmonary disease, in Spain. The company also received FDA
approval for Ranluspec (ranibizumab), an
interchangeable biosimilar to Genentech’s Lucentis (ranibizumab
injection). Positive
Grasim
Industries: Grasim has approved a Rs. 3,094 crore investment to expand its
Lyocell fibre capacity by 110,000 TPA at Harihar,
Karnataka. Combined with the previously announced 55,000 TPA expansion, total
new Lyocell capacity will reach 165,000 TPA. The expansion will be
commissioned in phases by mid-2028 and mid-2030, taking Grasim’s total cellulosic
fibre capacity above 1 million tonnes
per annum by 2030 and strengthening its position in sustainable textile
materials. MACRO WRAP ·
Geopolitical concerns eased after Iran
and Israel agreed to halt further attacks following a weekend flare-up that
threatened ongoing peace negotiations. President Trump intervened and urged
both sides to de-escalate. While both countries warned they would retaliate
if attacked again, investors interpreted the developments as reducing the
risk of a broader regional conflict. Sentimentally positive for broader
markets ·
US one-year-ahead inflation expectations
slipped to 3.5% in May from 3.6%. Consumers see slower price growth for gas,
medical care, and college, but faster for homes, food, and rent. Three- and
five-year expectations were steady at 3.1% and 3%. Expected earnings growth
stayed at 2.7%, spending growth fell to 5%, and unemployment expectations
edged down to 43.2%. ·
The US Fed funds futures are pricing in
28bp hike by year-end and a total hike of 43bp by September 2027. The Fed is
in the blackout period, which runs from 6-18 June. Fed Chair Kevin Warsh will
lead his first FOMC meeting on 16-17 June. ·
China continued to defy the slowdown
with strong trade data for consecutive months as May exports in US dollar
terms rose 19.4% YoY, vs 15.0% expected and 14.1% prior and China May imports
YoY 21.5% vs prior 20.6%. China crude oil imports 33.081 mln
tonnes in May, down 14.0% MoM from 38.471 mln tonnes in April. Negative
for crude oil Prices ·
Eurozone: New orders in the German
manufacturing sector fell by 3.8% in April compared with the previous month,
thereby erasing most of the growth recorded in March. There is still no sign
of a significant pickup in demand; in the coming months, uncertainty about
future developments in the Middle East is likely to continue to dampen demand
for German industrial goods. Sentimentally negative for Euro. ·
Gold loses safe-haven bid as yields
rise: Gold has fallen since a late January peak and accelerated lower in June
as Fed rate hike expectations firmed, erasing almost
all year to date gains falling from ATH of $5596 to
current prices of around $4300. Rising real yields — the 10-year real yield
rose to 2.18%, up 15bps this month — are increasingly weighing on bullion. We
expect gold to remain under-selling pressure in short term towards $4,000/oz
from $4,300, amid rate-hike bets and softer physical demand. ·
The DJIA fell 0.2% while the S&P500
and the Nasdaq composite index rose 0.3% and 0.9% respectively. The Eurostoxx 50 was unchanged. The Dollar Index was flat at
100.05. EUR-USD was just a touch higher around
1.1540. The US 2Y yield edged up 1.5bp to 4.16% and the 10Y yield rose 3bp to
4.56%. The German 10Y yield rose 2bp to 3.06%. The UK 10Y yield rose 4bp to
4.94%. Brent crude oil prices rose 1.3% to USD94.25. Gold was flat at
USD4,330. ·
Data watch: we
get the NFIB Small Business Optimism index, ADP weekly employment change,
trade deficit, and existing home sales. INVESTMENT CALL Stock
Update : Laurus Labs Ltd: Valuations
at a premium; business improving View:
HOLD
Reco. Price: Rs. 1,443 PT : Rs. 1,580
Valuation
(Consolidated)
Rs. crore
OTHER NEWS
Fino
Payments Bank (May Update): Deposit accounts up 29.0% at 2.93 lakh YoY. Loan
disbursals up 186.0% at Rs 210 crore versus Rs 73 crore YoY. Throughput
transaction business down 48.0% at Rs 2,546 crore YoY. Average total deposits
up 10.0% at Rs 2,762 crore YoY. JSW
Energy: The company has commissioned its wind blade manufacturing plant at
Halol, Gujarat, marking a significant step towards vertically integrating its
wind energy value chain and de-risking its supply chain. HCL Tech: HCL Tech on Monday, June 8 announced the launch of an AI Innovation
Zone in collaboration with Google Cloud at Santa Clara, California. The
company said the AI Innovation Zone, powered by Gemini Enterprise, will
provide a dedicated environment for HCL Tech and its clients to design, build
and deploy AI-driven workflows, advance robotics-led innovation and develop
industry-specific AI solutions. The launch builds on the expanded
collaboration between HCL Tech and Google Cloud announced in March. Shanti
Gold International Limited: The company has started commercial production at
its new manufacturing facility in Marol, Andheri, Mumbai. The development
increases the Company's manufacturing capacity by 4,000 kgs per year,
improving its ability to serve existing customers and pursue new strategic
relationships in organised jewellery
retail in India and abroad. Positive Hindustan
Copper Ltd: The company has received an order from the Ministry of Mines,
Government of India, appointing Shri Anupam Misra as Chairman & Managing
Director (CMD) |
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