Macro & Sentiment
• Oil: Extended decline on supply glut outlook; supportive for downstream OMCs.
• Gold: Topped $3,800 on U.S. shutdown fears; positive for gold financiers.
• F&O: Nifty Futures up marginally (0.02%); PCR climbed to 0.71 → bullish sentiment strengthening.

Trading & corporate housekeeping
• Listings / IPOs: Atlanta Electricals and Ganesh Consumer Products to list today (subscription: Atlanta ~70.6x; Ganesh ~2.7x).
• Corporate actions: Several board meetings and record dates across small-caps; shares exiting anchor lock-in for some issues.
• Regulatory / tax: Multiple GST / CGST show-cause notices and penalties across the fertilizer, cement and other sectors; these remain event risks for affected stocks.

Stocks to watch
PG Electroplast — Large greenfield investment and production roadmap in South India.
• Phoenix Mills — Strong FY25 operating metrics; continued retail consumption recovery.
• Power Grid — Project approvals for grid resilience and disaster preparedness.
• Alkem Laboratories — Structural change via trade-generics transfer to subsidiary.
• Chambal Fertilisers — High-value tax notice; monitor legal outcomes.
• Deepak Nitrite — New hydrogenation capacity at Dahej expands specialty chemistry capability.

Stocks in Focus (Positive/Neutral)
• Positive: BEL, IRFC, RailTel, Globus Spirits, Thomas Cook, Blue Dart, DMart, Eco Hotels, Hero MotoCorp (festive sales outlook), PB Fintech, Bharat Forge, Sammaan Capital, Axiscades, GIPCL, Syschem India.
• Neutral: M&M divestment, Tilaknagar fundraising, PTC India Fin resignations, BEML stock split, Godrej Agrovet SEBI warning, JSW Infra GST SCN.

Investor Insight
• Tariff concerns hit EMS stocks; Avalon relatively insulated.
• Strong order inflows in defence (BEL, Axiscades) and rail (RailTel, Oriental Rail) reinforce PSU momentum.
• IPO market continues to see selective frenzy in biofuels & export plays, while infra/telecom IPOs lag.
• Investors should watch PSU lenders (IRFC, REC, PFC) as power financing activity accelerates.
• Consumer discretionary firms (Blue Dart, DMart, PNG Jewellers) indicate festive season expansion, signaling consumption resilience despite macro headwinds.
• Infrastructure & industrials continue to report steady order flows and capacity investments — selective contractors and equipment suppliers look attractive on execution clarity.
• Corporate tax / GST notices (large penalties) are headline risks for a handful of cyclical names; treat these as event-driven, watch for provision updates.
• Retail recovery evident in mall operators and select retailers — use dips to add quality names with proven FCF generation.
• Safety & governance: recent industrial accident and tax actions highlight operational and compliance risks — prioritise lenders/companies with transparent disclosures.