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FINWIRES

Shakti Pumps (India) Invests INR100 Million in EV Mobility Unit

-- Shakti Pumps (India) (NSE:SHAKTIPUMP, BOM:531431) said it has invested 100 million Indian rupees in its wholly owned subsidiary Shakti EV Mobility by subscribing to 10 million equity shares, according to a Tuesday filing to the Indian stock exchanges.

Shares of the company rose 1% in Wednesday's trade.

With this, Shakti Pumps' total investment in the EV mobility unit has increased to 650 million Indian rupees, the filing said.

The investment is aimed at supporting business expansion of the subsidiary, it added.

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Commerzbank on Overnight News

Commerzbank in its "European Sunrise" note of Wednesday highlighted:Markets: United States Treasuries sell off in late New York session, are better bid in early Asian trading. Brent rises above US$100/barrel late Tuesday, but comes off the highs after President Donald Trump announces a ceasefire extension in the conflict with Iran. E-minis rise marginally after the ceasefire headline.Fed: Kevin Warsh says at Senate Federal Reserve chair confirmation hearing that cumulative price increases are a legacy of past policy error, inflation trajectory is improving, but there is more work to do. The balance sheet shouldn't hold long-term assets, Warsh doesn't have a particular fix number for size, changes would need to be choreographed.Fed: Federal Reserve Governor Christopher Waller says Fed banks are working well on 10% headcount reduction, needs to rethink physical footprint, centralize operations and incorporate Artificial Intelligence (AI).U.S.: White House nominates Christopher Phelan to chair Council of Economic Advisers.Iran war: President Trump extends ceasefire until "discussions are concluded." Trump maintains the naval blockade. Vice President JD Vance postpones trip to Pakistan after Iran refuses to attend. Iran's foreign minister calls the U.S. blockade an "act of war." Iran evades blockage by using different ports and ship-to-ship transfers (Telegraph). Iran received "some sign" that the U.S. is ready to break the blockade (news agency Tasmin).==EUROPE:ECB: European Central Bank Governing Council member Martins Kazaks says there is no urgency to raise rates; says expectations for inflation are currently containedGermany: CDU/CSU present plan for income tax reform with 25 billion to 30 billion euros tax relief per year (HB).France: Prime Minister Sebastien Lecornu extends aid for industries hit by fuel cost rises.Italy plans to bring down its budget deficit to 2.8% in 2026 (Reuters sources).Ukraine: President Volodymyr Zelenskiy says repairs to the Druzba oil pipeline are completed, clearing the way for 90 billion euros European Union loan.

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Morgan Stanley Upgrades Antero Midstream to Equalweight from Underweight, Lifts Price Target to $26 From $20

Antero Midstream (AM) has an average rating of hold and mean price target of $23.29, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

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Asia

Intraco Buys Back More Shares

Intraco (SGX:I06) bought back 2,500 shares in the open market on Wednesday for SG$951, or about SG$0.38 per share, according to a same-day filing with the Singapore Exchange.The plastics resin and other petrochemical products company has been authorized to repurchase 10.8 million shares under its current mandate and has so far bought back nearly 1.7 million shares.

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