Trendlyne Marketwatch
Trendlyne Marketwatch
04 Jun 2025, 03:56PM
Market closes higher, TVS signs MoU with Kadam Mobility to deploy 500 electric 3-wheelers in FY26
By Trendlyne Analysis

 

 

Nifty 50 closed at 24,620.20 (77.7, 0.3%), BSE Sensex closed at 80,998.25 (260.7, 0.3%) while the broader Nifty 500 closed at 22,807.85 (96.6, 0.4%). Market breadth is in the green. Of the 2,446 stocks traded today, 1,289 were gainers and 1,104 were losers.

Indian indices closed higher after rising throughout the day. The Indian volatility index, Nifty VIX, fell 4.9% and closed at 15.7 points. Garden Reach Shipbuilders surged 6.5% to its all-time high of Rs 3,465.5 after signing a memorandum of understanding (MoU) with Norway's Kongsberg to build a polar research vehicle.

Nifty Smallcap 100 and Nifty Midcap 100 closed higher, following the benchmark index. Nifty India Digital and S&P BSE Telecom Indices were among the top index gainers today. According to Trendlyne’s sector dashboard, Telecom Services emerged as the top-performing sector of the day, with a rise of 1.6%.

Asian indices closed higher, except for Thailand’s SET, which closed lower. European indices are trading higher, except for Portugal’s PSI, which is trading lower. US index futures are trading flat or higher as investors weigh increased metal tariffs against hopes of progress in US-China trade talks. Brent crude futures are trading higher after rising 1.7% on Tuesday.

  • Coforge sees a short buildup in its June 26 futures series, with open interest increasing by 4x and a put-call ratio of 0.5.

  • Yes Bank rises as its board of directors approves raising up to Rs 7,500 crore in equity and Rs 8,500 crore via debt instruments in FY26. The funds will be raised in tranches across domestic and global markets, with dilution capped at 10%.

  • Swiggy surges as Morgan Stanley initiates coverage with a 'Buy' call and a target price of Rs 405 per share. This indicates a potential upside of 12.4%. The brokerage believes that the company's food delivery and quick commerce businesses will grow due to aggressive investments in infrastructure. It expects the firm's quick commerce business to grow at a CAGR of 63% over FY26-28.

  • TVS Motor signs a memorandum of understanding (MoU) with Kadam Mobility to deploy 500 TVS King EV MAX electric three-wheelers in FY26. The company plans to roll out the vehicles in phases starting in Q2FY26.

  • Nomura maintains a 'Neutral' rating on Tata Motors with a target price of Rs 799. The brokerage expects the newly launched Harrier EV to drive higher EV penetration with its competitive pricing. Nomura projects EV penetration to increase to 4% in FY26 and 5% in FY27, up from 2.3% in FY25. The new model's price aligns with entry-level diesel automatic SUVs in the high SUV segment.

  • Geojit BNP Paribas retains its 'Buy' call on Bharat Electronics, with a target price of Rs 441 per share. This indicates a potential upside of 13.9%. The brokerage remains positive on the stock due to the government's focus on domestic manufacturing, the growing contribution of electronics in defense, healthy market positioning, a robust order backlog, and consistently strong margins. It expects the firm's revenue to grow at a CAGR of 17.7% over FY26-27.

  • Chennai Petroleum Corp allocates Rs 400 crore as capital expenditure to re-enter the direct fuel retail segment. It plans to set up petrol and diesel outlets over the next 2–3 years as part of its expansion plan.

  • Kaynes Technology India is falling as it provides a corporate guarantee for a Rs 250 crore loan from multiple banks for its step-down subsidiary, Kaynes Canada. The company also invests $8.8 million (~ Rs 75.6 crore) in its subsidiary, Kaynes Holding.

  • Crude oil futures decline as the OECD (Organisation for Economic Cooperation and Development) lowers its global GDP growth outlook from 3.3% in 2024 to 2.9% in the next two years, assuming that mid-May tariff rates remain in place. It expects growth through 2025 to remain weak, with global output projected to rise just 2.6% YoY by the fourth quarter and only 1.1% in the US.

  • Ethos is rising as its board of directors approves a fundraising of up to Rs 410 crore through the rights issue of equity shares.

  • Reports suggest that 63.4 crore shares (0.6% stake) of Vodafone Idea, worth Rs 428.4 crore, have changed hands in a block deal at an average price of Rs 6.8 per share. Ericsson India is likely the seller in the transaction.

  • Garden Reach Shipbuilders surges to its all-time high of Rs 3,465.5 per share as it enters a memorandum of understanding (MoU) with Norway's Kongsberg to construct a polar research vehicle.

  • Nuvama maintains a 'Buy' rating on Ceat with a target price of Rs 3,800. The brokerage believes the Camso acquisition will enhance the company’s margin profile and increase the export share of revenue to 25–26%. It anticipates strong export growth in FY26 and domestic replacement growth in single digits. It also projects a decline in raw material costs during Q1–Q2FY26 and estimates a capital expenditure of Rs 900–1,000 crore for FY26.

  • Sun Pharma Advanced Research Co plunges as it fails to meet key goals in phase-2 trials of its drug, Vibozilimod, for skin conditions like psoriasis and eczema. The company discontinues the drug’s development with no further trials planned.

  • Scoda Tubes’ shares make a flat debut on the bourses at Rs 140. The Rs 220 crore IPO received bids for 53.8 times the total shares on offer.

  • Tata Technologies falls as private equity TPG reportedly plans to divest its entire 2.1% stake (or 85.1 lakh shares) at a floor price between Rs 744.5 and Rs 767.5 per share, aggregating to Rs 634.1 crore through a block deal.

  • India's Services PMI rises marginally to 58.8 in May, up from 58.7 in April, staying well above the 50-mark. This represents the fastest expansion since February, driven by continued growth in output and new orders. Foreign sales touched record highs on the back of robust international demand.

  • Gland Pharma receives final approval from the US FDA for Angiotensin II Acetate injection, used to treat very low blood pressure. According to IQVIA, the drug had a market size of $58 million in the US as of March 2025.

  • Alkem Laboratories falls as a 1.4% equity stake worth approximately Rs 825 crore reportedly changes hands in a block deal at an average price of Rs 4,850 per share. Promoter Jayanti Sinha is likely the seller in this transaction.

  • Aditya Birla Fashion and Retail plunges as 10.7 crore share (8.8% stake), worth Rs 862 crore, reportedly change hands in a block deal at an average price of Rs 80 per share. Flipkart is likely the seller in the transaction.

  • Adani Enterprises' arm, Adani Airports Holdings, raises $750 million (approximately Rs 6,240 crore) through external commercial borrowings (ECB) from a consortium of international banks. These include First Abu Dhabi Bank, Barclays PLC, and Standard Chartered Bank. The proceeds will be used to refinance existing debt, invest in infrastructure upgrades, and expand capacity across the six airports.

  • Indegene falls sharply as Carlyle Group reportedly plans to divest its entire 10.2% stake (or 2.4 crore shares) at a floor price of Rs 580 per share, aggregating to Rs 1,420 crore through a block deal.

  • Indian Energy Exchange's electricity volume increases by 14% YoY to 10,946 million units (MU) in May. IEX Green Market achieves a volume growth of 47% YoY to 915 MU.

  • Ashok Leyland is rising as it secures an order worth Rs 183.8 crore from Tamil Nadu State Transport Corp (TNSTC) to supply 543 BSVI diesel chassis and fully built buses.

  • Zydus Lifesciences' subsidiary, Zyus Pharmaceuticals USA, acquires two US-based biologics manufacturing facilities in California from Agenus for a cash consideration of $75 million (~ Rs 643.2 crore). This acquisition allows Zydus to enter the global biologics contract development and manufacturing organisation (“CDMO”) business.

  • Nifty 50 was trading at 24,572.45 (30.0, 0.1%), BSE Sensex was trading at 80,777.65 (40.1, 0.1%) while the broader Nifty 500 was trading at 22,764.30 (53, 0.2%).

  • Market breadth is in the green. Of the 1,964 stocks traded today, 1,278 showed gains, and 641 showed losses.

Riding High:

Largecap and midcap gainers today include Rail Vikas Nigam Ltd. (429.95, 6.5%), PB Fintech Ltd. (1,841.40, 5.8%) and GlaxoSmithKline Pharmaceuticals Ltd. (3,420, 5.4%).

Downers:

Largecap and midcap losers today include Cholamandalam Investment & Finance Company Ltd. (1,512.70, -3.4%), Alkem Laboratories Ltd. (4,868.50, -2.6%) and Suzlon Energy Ltd. (66.72, -2.1%).

Movers and Shakers

21 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included Ircon International Ltd. (220.46, 13.7%), Swan Energy Ltd. (449.20, 9.0%) and Rail Vikas Nigam Ltd. (429.95, 6.5%).

Top high volume losers on BSE were Sun Pharma Advanced Research Company Ltd. (156.83, -19.7%), Aditya Birla Fashion and Retail Ltd. (76.77, -10.7%) and Kaynes Technology India Ltd. (5,737.50, -0.9%).

SKF India Ltd. (4,776, 3.0%) was trading at 6.2 times of weekly average. Aether Industries Ltd. (775.20, 3.9%) and Aster DM Healthcare Ltd. (582.85, 5.6%) were trading with volumes 4.3 and 4.0 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

14 stocks took off, crossing 52 week highs, while 3 stocks were underachievers and hit their 52 week lows.

Stocks touching their year highs included - CCL Products India Ltd. (889.60, -0.2%), Fortis Healthcare Ltd. (738.85, 1.3%) and GlaxoSmithKline Pharmaceuticals Ltd. (3,420, 5.4%).

Stocks making new 52 weeks lows included - Aditya Birla Fashion and Retail Ltd. (76.77, -10.7%) and Sheela Foam Ltd. (626, 0.4%).

14 stocks climbed above their 200 day SMA including Ircon International Ltd. (220.46, 13.7%) and Rail Vikas Nigam Ltd. (429.95, 6.5%). 20 stocks slipped below their 200 SMA including Sun Pharma Advanced Research Company Ltd. (156.83, -19.7%) and Star Health and Allied Insurance Company Ltd. (467.10, -1.2%).

 
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