Trendlyne Marketwatch
Trendlyne Marketwatch
11 Jun 2025, 04:02PM
Market closes higher, Minda Corp forms JV with Toyodenso to make advanced auto switches
By Trendlyne Analysis

 

Nifty 50 closed at 25,141.40 (37.2, 0.2%), BSE Sensex closed at 82,515.14 (123.4, 0.2%) while the broader Nifty 500 closed at 23,337.85 (-2.1, 0.0%). Market breadth is in the green. Of the 2,463 stocks traded today, 1,334 were on the uptrend, and 1,094 went down.

Indian indices closed higher supported by Oil & Gas, Pharma & IT stocks. The Indian volatility index, Nifty VIX, declined 2.5% and closed at 13.7 points. Maruti Suzuki delayed the launch of its EV (e-Vitara) due to China’s export curbs on rare earth magnets. The company trimmed its FY26 production target to 67,000 units from 88,000.

Nifty Midcap 100 & Nifty Smallcap 100 closed in the red. Nifty Oil & Gas and BSE Oil & Gas were among the top index gainers today. According to Trendlyne’s Sector dashboard, Hardware Technology & Equipment emerged as the best-performing sector of the day, with a rise of 2.7%.

Asian indices closed higher, while European indices are trading in the green. US index futures traded in the red, indicating a cautious start to the trading session. A US appeals court allowed President Trump's broad tariffs to remain in place during a review of a lower court ruling that deemed them an overreach of his authority. Meanwhile, investors are eyeing the upcoming US May CPI data release and next week's Fed meeting. The monthly annual inflation rate is expected to remain at 0.2%, with core CPI seen rising 0.3% MoM.

  • Relative strength index (RSI) indicates that stocks like Central Depository Services of India, Concord Biotech, Dr Reddy's Laboratories, and Multi Commodity Exchange of India are in the overbought zone.

  • Jio Financial Services' JV with BlackRock, Jio BlackRock Investment Advisers, secures SEBI approval to operate as an investment adviser in India.

  • Garden Reach Shipbuilders & Engineers signs a contract with the Geological Survey of India to build two coastal research vessels for oceanic exploration, mineral exploration, and environmental monitoring.

  • Wipro rises as 18.1 crore shares (1.8% equity), amounting to Rs 4,675 crore, reportedly change hands in a block deal.

  • KP Green Engineering secures new orders worth Rs 97.3 crore across various segments. These include Rs 47.8 crore for crash barriers, Rs 37.6 crore for solar structures, Rs 7.2 crore for transmission materials, and the rest for isolators and rooftop projects.

  • Minda Corp forms a 60:40 joint venture (JV) with Japan's Toyodenso to develop, manufacture, and sell advanced automotive switches in India.

  • Rekha Jhunjhunwala sells a 1.9% stake worth Rs 218 crore in Nazara Technologies in the first week of June. She now holds a 5.07% stake in the company.

  • Antique Stock Broking remains bullish on India's defence sector, citing strong order flow, rising self-reliance, and geopolitical risks. It maintains its 'Buy' rating on HAL, BEL, Mazagon Dock, and PTC Industries, attributing to the government's Rs 16 lakh crore domestic defence outlay target by 2030.

  • Geojit BNP Paribas maintains its 'Buy' call on NTPC with a higher target price of Rs 368 per share. This indicates a potential upside of 7.7%. The brokerage believes that the company's focus on capacity expansion in the renewables segment and improvement in operational efficiency will drive long-term growth. It expects the firm's revenue to grow at a CAGR of 6.9% over FY26-27.

  • BSE falls after it is added to Stage 1 of the Additional Surveillance Measures (ASM) framework. The ASM framework monitors factors like price volatility, trading volumes, and client concentration.

  • Waaree Energies is rising as its wholly-owned subsidiary, Waaree Solar Americas, secures a 599 MW solar module supply order from a leading US utility-scale solar and energy storage project developer.

  • Sula Vineyards and GM Breweries surge over 9% after Maharashtra exempts beer and wine from the excise duty hike on Indian-made foreign liquor (IMFL). The duty on IMFL has been raised from 3X to 4.5X of the declared manufacturing cost.

  • Economists expect India’s CPI inflation to ease to 2.98% in May, down from 3.16% in April, the lowest level since July 2019 and below RBI's 4% target. Rahul Bajoria, India economist at BofA, notes that food inflation is now lower than core inflation, as the rise in non-perishable prices has been easing for some time. He added that while vegetable prices likely increased in May, the rise was smaller than usual seasonal trends.

  • Reliance Infrastructure's subsidiary, Reliance Defence, and Germany's Diehl Defence strengthen their partnership for the urgent supply of system vulcano 155mm precision-guided munition to the Indian Armed Forces.

  • Reports suggest that 60.9 lakh shares (0.1% stake) of Eternal, worth Rs 156 crore, have changed hands in a block deal at an average price of Rs 256 per share. The stock has recently witnessed selling pressure following reports that Rapido is set to launch a food delivery pilot in Bengaluru by the end of the month.

  • Avendus Spark initiates coverage on Oil India with a 'Buy' rating and a target price of Rs 630. The brokerage expects an increase in near-term production, helped by infrastructure projects and higher gas prices. It projects earnings to grow by 80% by FY28.

  • Shree Cement Chairman, HM Bangur, projects a 2–3% volume growth and 5–6% cement price growth in FY26. He expects the company to maintain EBITDA per tonne at Rs 1,400 this year and aims to reach a capacity of 100 million metric tonnes within the next 3–4 years.

  • CreditAccess Grameen is rising after securing a $100 million (approximately Rs 855 crore) multi-currency syndicated social loan, classified as an external commercial borrowing (ECB) under the Reserve Bank of India’s automatic route.

  • Maruti Suzuki falls as the launch of its e-Vitara faces delays due to China’s export curbs on rare earth magnets. The company reportedly plans to trim its FY26 production target to 67,000 units from 88,000. By September, it plans to produce 8,200 units, down from 26,500.

  • Aditya Birla Capital is rising as 2.3 crore shares (0.9% stake) worth approximately Rs 568 crore reportedly change hands in a block deal at an average price of Rs 242.7 per share. Private equity firm Advent International is likely the seller in the transaction.

  • Tata Communications is falling as it defers its targets for revenue growth, margin expansion, and return on capital employed (RoCE). The company aims to achieve these goals by FY28 instead of the earlier target of FY27. Additionally, the management guides for double-digit EBITDA margins in its digital portfolio over time, compared to the EBITDA loss of Rs 900 crore reported in FY25.

  • Talbros Automotive is rising as it receives Rs 580 crore in domestic and export orders to supply gaskets, heat shield products, and forging components to original equipment manufacturers (OEMs).

  • Marksans Pharma rises as around 1 crore shares (2.3% stake), worth Rs 257 crore, reportedly change hands in a block deal at an average price of Rs 250 per share. OrbiMed Asia IV Mauritius FVCI is likely the seller in the transaction.

  • Kolte-Patil Developers rises sharply as the Competition Commission of India (CCI) approves Blackrock's acquisition of a 40% stake worth Rs 1,166 crore in the company.

  • Inox Wind receives approval from the National Company Law Tribunal (NCLT) to merge Inox Wind Energy with itself.

  • Nifty 50 was trading at 25,124.45 (20.2, 0.1%), BSE Sensex was trading at 82,473.02 (81.3, 0.1%) while the broader Nifty 500 was trading at 23,379.90 (40.0, 0.2%).

  • Market breadth is overwhelmingly positive. Of the 2,001 stocks traded today, 1,474 were on the uptick, and 467 were down.

Riding High:

Largecap and midcap gainers today include Oil India Ltd. (465.30, 6.4%), Bharat Petroleum Corporation Ltd. (333.85, 4.3%) and Biocon Ltd. (354.45, 3.9%).

Downers:

Largecap and midcap losers today include United Spirits Ltd. (1,503.80, -6.6%), Hindustan Zinc Ltd. (520.55, -2.5%) and Mazagon Dock Shipbuilders Ltd. (3,314.60, -2.5%).

Volume Shockers

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

Top high volume gainers on BSE included Oil India Ltd. (465.30, 6.4%), Tata Teleservices (Maharashtra) Ltd. (75.85, 6.1%) and Crisil Ltd. (5,838.50, 6.0%).

Top high volume losers on BSE were Indian Energy Exchange Ltd. (193.68, -7.8%), United Spirits Ltd. (1,503.80, -6.6%) and Jubilant Ingrevia Ltd. (680.20, -2.0%).

NMDC Steel Ltd. (40.92, 2.6%) was trading at 8.4 times of weekly average. Grindwell Norton Ltd. (1,802.20, -0.3%) and Natco Pharma Ltd. (934.10, 6.0%) were trading with volumes 8.0 and 7.8 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

14 stocks made 52 week highs,

Stocks touching their year highs included - Deepak Fertilisers & Petrochemicals Corporation Ltd. (1,575.90, 1.5%), Divi's Laboratories Ltd. (6,719, 0.7%) and Gillette India Ltd. (10,235.50, 1.0%).

24 stocks climbed above their 200 day SMA including Tata Teleservices (Maharashtra) Ltd. (75.85, 6.1%) and Prism Johnson Ltd. (159.97, 5.9%). 10 stocks slipped below their 200 SMA including Info Edge (India) Ltd. (1,505.90, -1.9%) and EIH Ltd. (372.70, -1.7%).

 
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