Trendlyne Marketwatch
Trendlyne Marketwatch
13 Jun 2025, 04:01PM
Market closes lower, NCLT admits IREDA’s insolvency plea against Gensol Engineering
By Trendlyne Analysis

 

Nifty 50 closed at 24,718.60 (-169.6, -0.7%) , BSE Sensex closed at 81,118.60 (-573.4, -0.7%) while the broader Nifty 500 closed at 22,906.20 (-140.3, -0.6%). Market breadth is in the red. Of the 2,437 stocks traded today, 838 were in the positive territory and 1,557 were negative.

Indian indices closed in the red as Israel launched operation ‘Rising Lion’ against Iran, targeting its key military sites. The Indian volatility index, Nifty VIX, rose 7.6% and closed at 15.1 points. India's CPI inflation fell 34 bps to 2.8% in May from 3.2% in April, marking the lowest level since February 2019. The decline was mainly driven by a sharp drop in food prices.

Nifty Midcap 100 & Nifty Smallcap 100 closed in the red, following the benchmark index. Nifty India Defence and Nifty MidSmall Healthcare were among the top index gainers today. According to Trendlyne’s Sector dashboard, Forest Materials emerged as the best-performing sector of the day, with a rise of 1.4%.

Asian indices closed in the red, while European indices are trading in the red except Russia’s MOEX & RTSI indices. US index futures traded in the red after Israel launched a large-scale airstrike on Iran, intensifying geopolitical tensions, driving oil prices sharply higher, and raising concerns over global economic growth. Crude oil futures surged more than 7% amid fears of potential disruption in the Strait of Hormuz, a key route for nearly 20% of the world’s oil supply.

  • Money flow index (MFI) indicates that stocks like Dr. Reddy's Labs, AstraZeneca Pharma, Manappuram Finance, and Pfizer are in the overbought zone.

  • UBS downgrades L&T Finance to 'Neutral' from 'Buy', but raises the target price to Rs 210 per share. The brokerage expects margins to remain rangebound and credit costs to remain around 2.4–2.5%, which could weigh on return on assets (RoA) and return on equity (RoE). It projects the loan book to grow at a CAGR of 20% over FY26–FY27.

  • Gensol Engineering falls after the National Company Law Tribunal (NCLT) Ahmedabad admits the Indian Renewable Energy Development Agency's (IREDA) insolvency plea and initiates proceedings against the company. The tribunal also appoints an interim resolution professional to take control of Gensol’s management and operations.

  • ACME Solar commissions an additional 19.8 MW at its wind project in Shapar, Gujarat, bringing the total commissioned wind capacity at the site to 46.2 MW out of the planned 50 MW. This raises its overall operational renewable energy capacity to 2,826.2 MW.

  • Crude oil futures surge over 7% following Israel’s strikes on Iran, raising fears of disruption in the Strait of Hormuz, a critical channel for nearly 20% of global oil flows. August Brent oil futures jump 9.9%, while July WTI (West Texas Intermediate) crude futures rise 10.6%.

  • Sharekhan maintains its 'Buy' call on LTIMindtree, with a higher target price of Rs 6,200 per share. This indicates a potential upside of 14%. The brokerage believes that despite headwinds, the company's strong order book, healthy deal pipeline, and execution capabilities will help with growth momentum. The fit-for-future program will drive margin improvement. It expects the firm's revenue to grow at a CAGR of 8.6% over FY26-27.

  • Kernex Microsystems (India) is rising as its Kernex-VRRC consortium secures orders worth Rs 311 crore from Southern Railways, Chennai. The orders involve Rs 173.1 crore to install the Kavach safety system in multiple railway sections of the Chennai Division. The second order, valued at Rs 137.9 crore, includes setting up the Kavach system, towers, and an optical fiber cable network in the Arakkonam–Jolarpettai section.

  • Oil and Natural Gas Corp is rising as Brent crude jumps $6 to $75.4 per barrel following Israel’s airstrike on Iran. The strike raises fears of supply disruptions amid escalating geopolitical tensions in the Middle East.

  • InterGlobe Aviation falls over 4% amid reports that its promoter, InterGlobe Enterprises, may sell around a 4% stake through block deals. InterGlobe Enterprises currently holds a 35.7% stake in the company and is looking to raise approximately $1 billion from the stake sale.

  • ICRA is rising as its board approves the acquisition of a 100% stake in Bengaluru-based Fintellix India for $26 million (approximately Rs 223.9 crore). The deal strengthens ICRA’s credit risk assessment and monitoring portfolio by adding risk reporting capabilities to its existing solutions.

  • Asian Paints is falling as Reliance Industries sells a 3.6% stake (or 3.5 crore shares) worth Rs 7,703 crore in the company through its subsidiary, Siddhant Commercials.

  • Lloyds Enterprises rises sharply as it acquires 3.7 crore shares in Lloyds Engineering Works via a rights issue. It now holds 49 crore shares, making up 33.3% of the company’s equity.

  • Shipping stocks like Shipping Corp of India and GE Shipping are rising as escalating tensions in the Middle East raise concerns over global trade disruptions and higher tanker rates. A volatile Strait of Hormuz could force vessels to reroute, impacting global oil and gas transportation.

  • Jubilant Ingrevia surges as around 98.7 lakh shares (~7% stake), worth Rs 667 crore, reportedly change hands in a block deal at an average price of Rs 676 per share. Promoter Bhartia family is likely the seller in the transaction.

  • Jubilant Foodworks rises as around 1.1 crore shares (~2% stake), worth Rs 702 crore, reportedly change hands in a block deal at an average price of Rs 662 per share. Promoter Bhartia family is likely the seller in the transaction.

  • Jubilant Pharmova rises as 48.3 lakh shares (3% stake) worth approximately Rs 527 crore reportedly change hands in a block deal at an average price of Rs 1,087 per share.

  • Motilal Oswal maintains its bullish outlook on the cables & wires sector, citing robust demand growth outpacing supply, favourable trends in exports and infrastructure as key long-term drivers. The brokerage projects global grid capex to double by 2030 and believes India is well-positioned due to cost and compliance strengths. It names Polycab as its top pick in the sector, with a 'Buy' rating and a target price of Rs 7,250.

  • Universal Cables falls as the European Commission imposes an 8.3% countervailing duty (CVD) on its single-mode optical fibre cable (OFC) exports to the European Union.

  • Dixon Technologies signs a 50:50 joint venture agreement with Signify Innovations for the original equipment manufacturing (OEM) of lighting products and accessories.

  • Genus Power falls as Singapore sovereign wealth fund GIC plans to sell a 3.6% stake worth approximately Rs 650 crore via a block deal at an average price of Rs 360 per share.

  • India's CPI inflation falls 34 bps to 2.8% in May from 3.2% in April, marking the lowest level since February 2019. The decline is mainly driven by a sharp drop in food prices. Rural inflation eases MoM to 2.6% from 2.9%, while urban inflation softens to 3.1% from 3.4%.

  • NBCC secures an order worth over Rs 518.4 crore from Navodaya Vidyalaya Samiti to construct Jawahar Navodaya Vidyalaya campuses across Arunachal Pradesh, Manipur, Assam, and Telangana.

  • DCM Shriram's board of directors approves acquiring a 100% stake in Hindustan Speciality Chemicals for a cash consideration of Rs 375 crore. This acquisition marks the company's entry into the epoxy and advanced materials space.

  • Crompton Greaves Consumer Electricals secures an order worth over Rs 101 crore from the Maharashtra Energy Development Agency (MEDA) to supply and install 4,500 off-grid solar water pumps across the state under Component-B of the PM-KUSUM scheme.

  • Torrent Power is rising as its wholly-owned subsidiary, Torrent Green Energy, receives orders worth approximately Rs 2,650 crore from Solar Energy Corporation of India (SECI) to develop 300 MW of ISTS-connected wind power projects under Wind Tranche-XVIII.

  • Market sinks in morning trading. Nifty 50 was trading at 24,601.15 (-287.1, -1.2%), BSE Sensex was trading at 80,427.81 (-1264.2, -1.6%) while the broader Nifty 500 was trading at 22,757.65 (-288.8, -1.3%).

  • Market breadth is moving down. Of the 2,011 stocks traded today, 149 showed gains, and 1,826 showed losses.

Riding High:

Largecap and midcap gainers today include Max Healthcare Institute Ltd. (1,232.80, 2.6%), Jubilant Foodworks Ltd. (682, 2.1%) and ICICI Lombard General Insurance Company Ltd. (1,940.70, 2.0%).

Downers:

Largecap and midcap losers today include Indian Renewable Energy Development Agency Ltd. (167.26, -4.7%), InterGlobe Aviation Ltd. (5,262, -3.9%) and Canara Bank (111.46, -3.6%).

Volume Shockers

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

Top high volume gainers on BSE included Jubilant Ingrevia Ltd. (793.55, 16.4%), Narayana Hrudayalaya Ltd. (1,913, 4.9%) and Jubilant Foodworks Ltd. (682, 2.1%).

Top high volume losers on BSE were Jubilant Pharmova Ltd. (1,094.20, -2.8%), Hindustan Petroleum Corporation Ltd. (386.25, -1.6%) and GMR Airports Ltd. (80.90, -1.2%).

Great Eastern Shipping Company Ltd. (989.45, 1.5%) was trading at 16.1 times of weekly average. V-Guard Industries Ltd. (377.50, -0.3%) and Go Digit General Insurance Ltd. (342.95, 0.7%) were trading with volumes 5.9 and 3.7 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

6 stocks took off, crossing 52 week highs, while 3 stocks hit their 52 week lows.

Stocks touching their year highs included - JK Cement Ltd. (6,082.50, 1.4%), Manappuram Finance Ltd. (279.54, 3.2%) and Muthoot Finance Ltd. (2,598.70, 1.7%).

Stocks making new 52 weeks lows included - Escorts Kubota Ltd. (3,130.20, -1.2%) and Aditya Birla Fashion and Retail Ltd. (73.80, -1.9%).

5 stocks climbed above their 200 day SMA including Jubilant Ingrevia Ltd. (793.55, 16.4%) and RHI Magnesita India Ltd. (503.15, 3.4%). 68 stocks slipped below their 200 SMA including Tata Teleservices (Maharashtra) Ltd. (71.60, -6.9%) and Chennai Petroleum Corporation Ltd. (641.95, -3.4%).

 
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