Trendlyne Marketwatch
Trendlyne Marketwatch
17 Jun 2025, 03:54PM
Market closes lower, CG Power bags a Rs 641 cr order from Power Grid for 765/400 kV transformers
By Trendlyne Analysis

 

 

Nifty 50 closed at 24,853.40 (-93.1, -0.4%), BSE Sensex closed at 81,583.30 (-212.9, -0.3%) while the broader Nifty 500 closed at 22,981.50 (-113.6, -0.5%). Market breadth is overwhelmingly negative. Of the 2,441 stocks traded today, 773 showed gains, and 1,632 showed losses.

Indian indices closed in the red, with Nifty Pharma emerging as the biggest loser following renewed threats to the pharmaceutical sector from Donald Trump. The Indian volatility index, Nifty VIX, declined 2.9% and closed at 14.4 points. Siemens closed 1.5% higher as its consortium with R Agrawal Infracon and Siemens Mobility Gmbh bagged an order worth Rs 4,100 crore from National High Speed Rail Corp for India’s first high-speed rail project.

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

Asian indices closed mixed, while European indices are trading in the red except Russia’s MOEX & RTSI indices. US index futures traded in the red indicating a cautious start to the trading session. The Federal Reserve begins its two-day meeting today and is widely expected to keep interest rates steady at around 4.5%. Investors are focused on whether the central bank will hint at future rate cuts amid softer US inflation and signs of an economic slowdown.

  • Relative strength index (RSI) indicates that stocks like Manappuram Finance, Glenmark Pharma, Gland Pharma, and LTIMindtree are in the overbought zone.

  • CG Power and Industrial Solutions is rising as it secures an order worth Rs 641 crore from Power Grid Corporation of India to supply 765/400 kV single-phase transformers.

  • Rane (Madras) rises sharply after its board approves the sale of about 3.5 acres from its 4.5-acre property in Velachery, Chennai.

  • Sharekhan maintains its 'Buy' call on AU Small Finance Bank, with an upgraded target price of Rs 900 per share. This indicates a potential upside of 16.3%. The brokerage believes that the company's profitability will improve from H2FY26, backed by lower interest rates and normalisation of credit costs. It expects the lender's net interest income (NII) to grow at a CAGR of 23.7% over FY26-27.

  • Nomura upgrades Mahanagar Gas to a 'Buy' rating with a higher target price of Rs 1,680. The brokerage highlights MGL’s strong volume growth, limited exposure to volatile segments, and attractive valuation compared to peers like IGL and GGL. Nomura also notes MGL’s resilience to EV-related risks, citing its role in Maharashtra’s EV policy committee, which supports CNG’s continued relevance.

  • Happiest Minds surges as Anand Rathi initiates coverage with a 'Buy' rating and sets a target price of Rs 790, a 20% upside. The brokerage notes that a slowdown in the US market remains a big risk, but it anticipates discretionary tech spending to pick up in H2FY26. This is expected to boost the hi-tech, manufacturing, industrials, and BFSI segments, constituting 51% of revenue.

  • Hindustan Zinc plans to set up a 250 kilo tonnes (KT) integrated zinc metal complex at Debari, along with associated mining and milling facilities, with a total capital expenditure of up to Rs 12,000 crore.

  • Nelco receives very small aperture terminal (VSAT) virtual network operator authorisation across India from the Ministry of Communications, Government of India.

  • Brent crude prices surge amid rising tensions in West Asia after Israel shuts part of the Haifa refinery following an Iranian missile strike. Tanker operators are avoiding the Persian Gulf, driving up freight and insurance costs and further straining supply chains.

  • Siemens rises sharply as its consortium with R Agrawal Infracon and Siemens Mobility Gmbh bags an order worth Rs 4,100 crore from National High Speed Rail Corp for India’s first high-speed rail project. Siemens' share in the order is Rs 1,230 crore and involves designing, installing, and maintaining advanced signalling and telecommunications technologies.

  • Biocon's board of directors approves a Rs 4,500 crore qualified institutional placement (QIP) of equity shares at a floor price of Rs 340.2 per share.

  • Inox India is rising as it bags multiple orders worth Rs 373 crore across the industrial gas, cryo-scientific solutions, liquified natural gas (LNG), and beverage kegs businesses. The orders include Rs 151 crore in the cryo-scientific solutions business, Rs 141 crore in the industrial gas business, and Rs 71 crore in the LNG segment.

  • Sandeep Poundrik, Secretary at the Ministry of Steel, says the safeguard duty on steel has helped reduce imports. He believes per capita steel consumption will double to Rs 200/kg by 2035. Poundrik adds that steel prices should be balanced with consumer goods prices, which the Directorate General of Trade Remedies (DGTR) should consider. He also clarifies that no proposal exists to merge RINL with SAIL.

  • NBCC (India) receives an order worth Rs 172.5 crore from UCO Bank to construct a modern high-rise head office with a green building rating in New Town, Kolkata.

  • Citi initiates coverage on Max Financial Services with a 'Buy' rating and a target price of Rs 1,840. The brokerage expects improved margins in the near term, supported by a balanced product mix and diversified distribution channels.

  • Navin Fluorine International surges to its 52-week high of Rs 4,794.3 as Morgan Stanley upgrades its rating to 'Equalweight' call from 'Underweight', with a higher target price of Rs 4,160 per share. The brokerage believes that Indian chemical companies will see a volume growth cycle in the agrochemicals business in FY26, leading to higher orderbook growth, faster capacity monetisation, and margin improvement.

  • Goldman Sachs upgrades Schneider Electric to a 'Buy' rating with a target of Rs 910. The brokerage expects the company to expand its margin to 39.6% by FY32, partly supported by government initiatives. It also projects market share growth from 2.9% to 3.3%, reaching a total addressable market (TAM) of $14.5 billion.

  • Spiracca Ventures sells 20 lakh shares (4.2% stake) in Solara Active Pharma Sciences, worth Rs 99 crore, at an average price of Rs 495 per share in a block deal. Promoter Pronomz Ventures is the buyer in the transaction.

  • Axiscades Technologies is rising as it signs a Memorandum of Understanding (MoU) with Indra, a Europe-based defence equipment manufacturer, to produce aerospace and defence solutions in India. The partnership will cover antennas for tactical air navigation systems (TACAN), and countermeasure systems.

  • Bata India's board appoints Panos Mytaros as the new Chief Executive Officer (CEO), succeeding Sandeep Kataria, effective September 15.

  • Jefferies maintains an 'Underperform' rating on Tata Motors with a lower target price of Rs 600. The brokerage raises concerns over Jaguar Land Rover (JLR) after its Q3 results showed a 16% YoY drop in EBITDA, missing estimates. It also highlights challenges such as weaker demand in China and Europe, rising customer acquisition costs, and higher warranty expenses.

  • Vishal Mega Mart falls sharply as its promoter, Samayat Services LLP, plans to sell a 10% stake (or 45.9 crore shares) worth Rs 5,057 crore through a block deal at a floor price of Rs 110 per share.

  • Zydus Wellness rises as 46.3 lakh shares (7.3% stake), worth Rs 879 crore, reportedly change hands in a block deal at an average price of Rs 1,900 per share.

  • Tanla Platforms rises sharply as its board of directors approves a share buyback of up to Rs 175 crore. The company plans to repurchase up to 20 lakh fully paid-up equity shares, representing around 1.5% of its total equity, at Rs 875 per share through the tender offer route.

  • Nazara Technologies' board of directors approves raising Rs 495 crore by allotting 50 lakh equity shares to Axana Estates LLP via a preferential issue.

  • Nifty 50 was trading at 24,896.40 (-50.1, -0.2%), BSE Sensex was trading at 81,869.47 (73.3, 0.1%) while the broader Nifty 500 was trading at 23,062.90 (-32.2, -0.1%).

  • Market breadth is in the red. Of the 1,979 stocks traded today, 851 were on the uptrend, and 1,070 went down.

Riding High:

Largecap and midcap gainers today include Mazagon Dock Shipbuilders Ltd. (3,305.90, 4.4%), Aditya Birla Capital Ltd. (255.11, 2.6%) and PB Fintech Ltd. (1,950.10, 2.2%).

Downers:

Largecap and midcap losers today include Hindustan Zinc Ltd. (486.35, -5.2%), Sona BLW Precision Forgings Ltd. (479.95, -4.1%) and Jindal Steel & Power Ltd. (891, -3.4%).

Volume Rockets

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

Top high volume gainers on BSE included Happiest Minds Technologies Ltd. (668.45, 11.1%), Supreme Petrochem Ltd. (799.05, 5.1%) and Navin Fluorine International Ltd. (4,703.40, 4.2%).

Top high volume loser on BSE was Patanjali Foods Ltd. (1,657.80, -1.3%).

Latent View Analytics Ltd. (404.10, 0.9%) was trading at 22.6 times of weekly average. Supreme Industries Ltd. (4,644.40, 1.9%) and LMW Ltd. (16,264, 0.3%) were trading with volumes 4.6 and 4.0 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

11 stocks hit their 52 week highs,

Stocks touching their year highs included - Bharat Electronics Ltd. (401.75, -0.5%), Multi Commodity Exchange of India Ltd. (7,925.50, 1.3%) and Muthoot Finance Ltd. (2,645.70, 0.5%).

22 stocks climbed above their 200 day SMA including MMTC Ltd. (72.09, 5%) and Mahanagar Gas Ltd. (1,433.50, 3.2%). 24 stocks slipped below their 200 SMA including Hindustan Copper Ltd. (252.71, -3.8%) and FDC Ltd. (473.20, -3.5%).

 
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