Equity ka Funda by SMC

🆓📈 Join Us for a Free Webinar on “How to Leverage AlgoAI to Discover Build and Automate Trading Strategies” 📊 🕟 Date & Time: 9th July 2026, 4:30 PM onwards 📲 Register Now: https://tinyurl.com/uk28wu4y 🎁 Key Benefits of the Webinar: 👉 Ready-Made Strategies 👉 AI Strategy Builder 👉 Options Trading Platform 👉 Paper Trading 👉 Manual Strategy Builder 👉 Free Backtesting 👉 Q&A Session 🎤 Speakers: • Kunj Pandey, Sr. Manager Algo, SMC Global • Pawan Kumar Misra, Sr. Manager Algo, SMC Global

🇺🇸 US FOMC Minutes | June 2026 Key Highlights: ✅ Interest Rate Action: The FOMC unanimously voted to maintain the federal funds rate target range at 3.5% to 3.75%, opting for no change during this meeting. ✅ Policy Bias Shift: The Committee dropped previous language that suggested an easing bias, indicating that future policy decisions remain strictly data-dependent. ✅ Inflation Pressures: Both total and core PCE inflation moved higher, estimated at 4.1% and 3.4% respectively for May, driven by energy shocks from the Middle East conflict, past tariffs, and a surge in demand related to the AI buildout. ✅ Economic Expansion: Real GDP continues to expand at a solid pace, heavily buttressed by high productivity growth and massive investments in AI infrastructure (data centers, high-tech equipment, and software). ✅ Labor Market Stability: The labor market remains balanced but stable; payroll gains are strong, and the unemployment rate held close to its longer-run rate at 4.3% in May. ✅ Future Rate Outlook: Divisions emerge on future policy. Many participants project the appropriate rate will finish the year within or below the current range, while many others assess a rate hike above the current range may be needed. ✅ Geopolitical Drag: The conflict in the Middle East and supply chain disruptions from the closure of the Strait of Hormuz continue to weigh on foreign economic activity and elevate global commodity risks. ✅ Communication Overhaul: The Committee announced plans to simplify and shorten its postmeeting statements, establishing five independent task forces to review its broader monetary policy communication tools. Bottom Line: ✅ The Fed holds steady at 3.5%–3.75%, removing its easing bias as persistent inflationary forces—amplified by geopolitical supply shocks and an AI-driven infrastructure boom—keep near-term price risks tilted to the upside. ✅ While the US economy shows resilience via solid GDP expansion, stable labor markets, and strong corporate earnings, the future interest rate path remains highly uncertain, leaving the door open for either cuts or hikes depending on data.

🚀 Morning Market Update | July 9, 2026 🌏 Asian Markets: Fragmented layout as a massive semi-conductor cooling shadows technology desks. Japan's Nikkei 225 bucked the trend to gain 1.29% (67,691.00), while South Korea's KOSPI shed 1.92% (7,110.59) and Hong Kong's Hang Seng slid 0.74% (24,021.00). 🇺🇸 US Markets: Wall Street benchmarks closed highly volatile and mixed. The Nasdaq edged up +0.19% (25,889.28) driven by late chipmaker short-covering, while the industrial Dow Jones plunged 1.09% (-576 pts) to settle at 52,369.39. 🛢 Crude Oil: Brent crude futures witnessed aggressive buying, spiking higher to sit near $78.65/bbl. Prices surged heavily over structural supply fears following fresh US military airstrikes in Iran. ⚔️ Geopolitical Cues: Global risk-off benchmarks face major strain as the interim US-Iran peace framework is pushed into severe jeopardy. Heightened maritime conflict has led underwriters to actively advise shipping fleets to review transit paths through the vital Strait of Hormuz. 📊 FII/DII Activity (July 8): Coordinated institutional buying delivered a blockbuster cash segment liquidity cushion. FIIs expanded their equity purchases aggressively to record a net buy of +₹1,962.80 Cr, matched in optimism by DIIs with a net buy of +₹790.16 Cr.

🆓📈 Join Us for a Free Webinar on “How to Leverage AlgoAI to Discover Build and Automate Trading Strategies” 📊 🕟 Date & Time: 9th July 2026, 4:30 PM onwards 📲 Register Now: https://tinyurl.com/uk28wu4y 🎁 Key Benefits of the Webinar: 👉 Ready-Made Strategies 👉 AI Strategy Builder 👉 Options Trading Platform 👉 Paper Trading 👉 Manual Strategy Builder 👉 Free Backtesting 👉 Q&A Session 🎤 Speakers: • Kunj Pandey, Sr. Manager Algo, SMC Global • Pawan Kumar Misra, Sr. Manager Algo, SMC Global

📢 Record Date Alert | J.B. Chemicals & Pharmaceuticals – Amalgamation with Torrent Pharmaceuticals 🔹 J.B. Chemicals & Pharmaceuticals Ltd. 💰 CMP: ₹2,427.10 📊 Market Cap: ₹38,969.20 Cr 🔹 Torrent Pharmaceuticals Ltd. 💰 CMP: ₹4,865.70 📊 Market Cap: ₹1,64,670.78 Cr 📅 Record Date: Friday, 17th July 2026 ✅ Pursuant to the Scheme of Amalgamation of J.B. Chemicals & Pharmaceuticals Ltd. with Torrent Pharmaceuticals Ltd., shareholders of J.B. Chemicals whose names appear on the register as on the Record Date will be eligible to receive Torrent Pharma shares. 🔄 Share Exchange Ratio: ➡️ 51 equity shares of Torrent Pharmaceuticals (FV ₹5 each) 🔁 For every 100 equity shares of J.B. Chemicals (FV Re.1 each) 📌 Illustration: • 100 JB Chemicals shares → 51 Torrent Pharma shares • 200 JB Chemicals shares → 102 Torrent Pharma shares • 500 JB Chemicals shares → 255 Torrent Pharma shares ⚠️ Investors intending to receive Torrent Pharma shares under the merger should ensure they hold JB Chemicals shares before the ex-date.

🚀 Morning Market Update | July 8, 2026 🌏 Asian Markets: Deeply fragmented layout as a sharp tech cooling contrasts with heavy Chinese buying. Hong Kong's Hang Seng surged 2.18% (24,009.00) and Shanghai Composite gained 0.52% (4,011.05), while South Korea's KOSPI shed 0.75% (7,598.53) and Japan's Nikkei 225 stayed flat at +0.04% (68,285.00). 🇺🇸 US Markets: Wall Street indices closed weaker as high-flying chipmakers plunged on AI valuation jitters. The tech-heavy Nasdaq slid 1.16% (25,818.69), while the Dow Jones showed resilience, slipping only 0.25% to finish at 52,925.15. 🛢 Crude Oil: Brent crude futures surged over 2.6% to cross key resistance lines, trading near $76.10/bbl. Prices spiked rapidly after the US launched fresh airstrikes in Iran and revoked global oil export waivers following shipping friction. ⚔️ Geopolitical Cues: Macro risk gauges face sudden inflation as the US-Iran peace framework is pushed to the brink. Renewed military friction near vital trade lanes has prompted immediate supply worries across the strategic Strait of Hormuz. 📊 FII/DII Activity (July 7): Capital market segment rebalancing saw minor, highly calculated institutional flows. FIIs logged a marginal cash net buy of +₹393.19 Cr, which was cleanly matched by a subtle rebalancing note of -₹383.43 Cr from DIIs.

🆓📈 Join Us for a Free Webinar on “How to Leverage AlgoAI to Discover Build and Automate Trading Strategies” 📊 🕟 Date & Time: 9th July 2026, 4:30 PM onwards 📲 Register Now: https://tinyurl.com/uk28wu4y 🎁 Key Benefits of the Webinar: 👉 Ready-Made Strategies 👉 AI Strategy Builder 👉 Options Trading Platform 👉 Paper Trading 👉 Manual Strategy Builder 👉 Free Backtesting 👉 Q&A Session 🎤 Speakers: • Kunj Pandey, Sr. Manager Algo, SMC Global • Pawan Kumar Misra, Sr. Manager Algo, SMC Global

🇺🇸 US Composite PMI | June 2026 Key Highlights: ✅ Composite PMI at 51.9 (vs 51.5 in May) → private sector expansion strengthened modestly at the end of Q2. ✅ Manufacturing PMI at 53.9 (vs 55.1 in May) → operating conditions improved for the 11th consecutive month, although the pace of improvement moderated from May. ✅ Services PMI at 51.2 (vs 50.7 in May) → four-month high, indicating stronger growth in services activity. ✅ Business activity strengthened as manufacturing output remained solid and services activity accelerated, lifting overall private sector growth. ✅ New business growth accelerated to the strongest pace since February, supported by new project wins and FIFA World Cup-related demand. ✅ New export orders declined for the seventh consecutive month, with firms citing uncertainty surrounding government policy and tariffs. ✅ Employment fell for the second consecutive month, while outstanding business increased further, signalling continued capacity pressures despite lower staffing levels. ✅ Input cost inflation eased to the weakest level since February but remained elevated due to labour costs, tariffs and higher fuel prices. Selling price inflation also remained historically high. ✅ Business confidence improved to its highest level since February, supported by expectations of stronger economic conditions, easing price pressures and new business opportunities. Bottom Line: ✅ US private sector activity strengthened modestly in June, with the Composite PMI rising to 51.9, supported by continued expansion in both manufacturing and services. ✅ Manufacturing remained firmly in expansion territory for the 11th consecutive month, although the pace of improvement eased from May, while services activity strengthened to a four-month high. ✅ Improving demand and stronger business confidence point to continued economic resilience, but weaker employment and persistent cost pressures remain key risks to the near-term outlook.

📢 MERGER UPDATE | Torrent Pharmaceuticals & JB Chemicals The Hon'ble National Company Law Tribunal (NCLT) has sanctioned the Scheme of Amalgamation of JB Chemicals & Pharmaceuticals Ltd. with Torrent Pharmaceuticals Ltd. vide its order dated 6 July 2026, paving the way for the completion of one of India's largest pharmaceutical mergers. 🔄 Merger Ratio For every 100 equity shares of JB Chemicals, shareholders will receive 51 equity shares of Torrent Pharmaceuticals. 📊 Stock Details JB Chemicals & Pharmaceuticals Ltd. CMP: ₹2,427.10 Market Cap: ₹38,969.20 crore Torrent Pharmaceuticals Ltd. CMP: ₹4,865.70 Market Cap: ₹1,64,670.78 crore 📌 Key Highlights ✅ NCLT has approved the Scheme of Amalgamation. ✅ JB Chemicals will merge into Torrent Pharmaceuticals upon the Scheme becoming effective. ✅ The Board has also approved the Merger Implementation Agreement, outlining the implementation process, rights, obligations, and representations of the parties. ✅ The merger aims to create a stronger pharmaceutical company with enhanced scale, a broader product portfolio, and improved domestic and international presence. 💡 Merger Arbitrage Snapshot Implied Value of 51 Torrent Shares for every 100 JB Shares: 51 × ₹4,865.70 = ₹2,481.51 (per 100 JB shares) Equivalent Value per JB Share: ₹2,481.51 Current JB CMP: ₹2,427.10 Spread: ₹54.41/share (~2.2%) in favor of the merger ratio (before considering taxes, transaction costs, and time value). Investors should now watch for the effective date, record date, and share allotment timeline for the completion of the merger.

📢 OFS ALERT | Cochin Shipyard limited - Government of India Stake Sale The President of India, acting through the Ministry of Ports, Shipping & Waterways, has announced an Offer for Sale (OFS) through the stock exchange mechanism. 📌 OFS Details • Base Offer: 66,29,636 equity shares (2.52% stake) • Oversubscription Option: 66,29,636 equity shares (additional 2.52% stake) • Total Potential Offer: 1,32,59,272 equity shares (5.04% stake) 💰 Floor Price: ₹1,400/share 📈 CMP (06 Jul 2026): ₹1,504.75 🔻 Discount to CMP: ~6.96% 🏢 Market Cap: ₹39,587.08 crore 🛒 Retail Investors • Reservation: 10% of the offer size • Retail Discount: Nil 📅 OFS Schedule 🔹 Non-Retail Investors: 7 July 2026 (9:15 AM – 3:30 PM) 🔹 Retail Investors: 8 July 2026 (9:15 AM – 3:30 PM) 💵 Offer Size • Base Issue: ~₹928 crore • Including Oversubscription: ~₹1,856.3 crore Key Takeaway: The floor price is ~7% below the previous closing price, which may attract institutional and retail participation. Watch the subscription levels and post-OFS price action for trading opportunities.