Power & Electronic Stocks Fall (Thursday) :

On Thursday, many electronic and power-related stocks fell sharply, such as BHEL (-10%), Rectifiers (-9%), Hitachi Energy (-6%), and ABB (-6%).

Earlier, Chinese companies were not allowed to participate in Indian government projects. However, some news has been circulating in financial media that this rule may change, and Chinese companies could be allowed to bid for Indian government projects.

If this rule changes in the future, it could be negative for power-theme sector stocks, as competition may increase and margins could come under pressure.

IDFC First Bank – Bad News for Savings Accounts :

This is negative news for IDFC First Bank depositors due to a reduction in savings account interest rates.

• For deposits in the range of ₹5 lakh to ₹10 lakh, the savings interest rate has been reduced from 7% to 5%.

• For deposits in the range of ₹10 lakh to above ₹1 crore, the savings interest rate has been reduced from 7% to 6.5%.

This rate cut may impact depositors who were parking higher balances for better returns.

Panacea Biotec – Dengue Vaccine Update :

Panacea Biotec is working on developing a vaccine for dengue and has now registered for Phase 3 clinical trials.

Earlier, Phase 1 and Phase 2 trial results showed a success rate of around 94%.
If the vaccine is successfully launched in the coming years, the company could see strong business opportunities.

Due to this positive development, Panacea Biotec stock rose 13% on Thursday.