Trendlyne Marketwatch
Trendlyne Marketwatch
23 Jun 2025, 03:16PM
Market trades lower, NBCC bags a Rs 296.5 cr order from MDA for redevelopment projects in UP
By Trendlyne Analysis

 

Nifty 50 was trading at 25,041.45 (-71.0, -0.3%), BSE Sensex was trading at 82,060.61 (-347.6, -0.4%) while the broader Nifty 500 was trading at 23,046.85 (5.8, 0.0%). Market breadth is in the red. Of the 2,425 stocks traded today, 1,095 were gainers and 1,278 were losers.

Nifty 50 opens lower after falling around 140 points in the pre-opening session. On Friday, Indian indices closed higher after extending gains in the afternoon session. FIIs bought equity worth Rs 7,940.7 crore, while DIIs sold equity worth Rs 3,049.9 crore in Indian markets on the same day. 

Nifty Midcap 100 and Nifty Smallcap 100 open lower, tracking the benchmark index. Nifty IT and Nifty Realty indices open lower. 

Major US indices closed lower on Friday, except for Dow Jones, which closed flat. European indices closed mixed. Asian indices are trading lower, except for Malaysia KLCI, which is trading higher. Meanwhile, the US conducted airstrikes on Iran’s nuclear sites at Fordow, Natanz, and Isfahan on Sunday, under “Operation Midnight Hammer.” Crude oil prices are trading 1.7% higher on concerns over regional supply disruption.

  • Waaree Renewable Technologies is rising as it signs a memorandum of understanding (MoU) with Viet Khanh Joint Stock Company to develop a 100 MWp ground-mounted solar power project.

  • ideaForge Technology surges to its 10% upper limit as it receives an order worth Rs 137 crore from the Ministry of Defence to supply mini unmanned aerial vehicles (UAVs) with accessories.

  • Macquarie holds a positive outlook on India’s metal sector, citing strong domestic demand and supportive government policies. The brokerage notes the stable and elevated trend in steel prices and sees the 12% import safeguard duty as a key protective measure that enables Indian steel to maintain a premium over imports. Macquarie names JSW Steel as its top pick, viewing it as best positioned to capitalize on India’s growing steel consumption.

  • NBCC (India) is rising as it receives an order worth Rs 296.5 crore from Meerut Development Authority (MDA) to redevelop projects in Meerut, Uttar Pradesh.

  • Sharekhan retains its 'Buy' call on Trent with a higher target price of Rs 6.781 per share. This indicates a potential upside of 12.6%. The brokerage believes that the company's focus on improving its product portfolio, 100% contribution from its brands, store expansion, scaling up the Star business and leveraging digital presence will be key growth drivers in the medium term. It expects the firm's revenue to grow at a CAGR of 26.3% over FY26-27.

  • Embassy Developments signs a joint development agreement for a 17.9-acre land parcel in Whitefield, Bengaluru, to develop a residential project with a gross development value of Rs 1,600 crore.

  • Shipping Corporation of India rises by 3.5%, driven by speculative bets on higher freight rates amid Strait of Hormuz risks. The Baltic Dry Index (BDI), a key indicator of shipping rates, has shown volatility, dropping 13.5% last week, indicating mixed signals for sustained gains.

  • Hero MotoCorp, TVS Motor Company, and Mahindra & Mahindra fall as the government proposes making anti-lock braking system (ABS) mandatory for all new two-wheelers from January 1, 2026. Nomura expects a 2–4% demand hit due to higher vehicle costs from the regulation.

  • Union Bank of India's board of directors schedules a meeting on June 25 to consider and approve a plan to raise capital through a public issue, including further public offer, rights issue, or private placement.

  • Zee Entertainment rises sharply as it projects a breakeven in its digital business, Zee5, in FY26. This comes after an EBITDA loss of Rs 548 crore in FY25. The company targets an operating margin between 18% and 20%, compared to 14.6% in FY25.

  • Jefferies names Bharti Airtel as its top telecom sector pick, setting a target price of Rs 2,370. The brokerage anticipates strong mid-teen revenue growth and emphasizes a structurally declining capex trend. However, it also cautions about potential risks, including a lack of tariff hikes, higher-than-expected capital spending, weaker 5G monetization, and possible market share losses.

  • Northern Arc Capital rises sharply as Madhusudan Kela buys 10 lakh shares worth Rs 20 crore in a block deal on Friday.

  • HG Infra Engineering receives a letter of intent (LoI) from PFC Consulting to set up an interstate transmission system for the Eastern Region Generation Scheme–I (ERGS-I) in Odisha.

  • Jana Small Finance Bank is rising as the Reserve Bank of India (RBI) reduces priority sector lending (PSL) requirements from 75% to 60%. Priority sector in small finance banks includes lending to sectors like agriculture, Micro, Small and Medium Enterprises (MSMEs), and weaker sections.

  • Union Minister Hardeep Singh Puri addresses concerns over potential oil supply disruptions from the Israel-Iran conflict, highlighting India’s reduced dependence on the Strait of Hormuz. He notes that over 4 million of India’s 5.5 million daily crude imports now come from alternative sources like Russia, the US, and Brazil. Russian crude, which bypasses the Strait, makes up 38% of imports as of May 2025, up from less than 1% in early 2022.

  • Ola Electric falls as 2.4 crore shares (0.5% stake) worth approximately Rs 107 crore reportedly change hands in a block deal at an average price of Rs 44 per share.

  • Dr. Lal PathLabs and Metropolis Healthcare fall over 2.5% as Amazon launches home lab testing service, Amazon Diagnostics, across six cities.

  • NLC India secures a Letter of Award (LoA) from Tamil Nadu Green Energy Corporation (TNGECL) for developing three standalone battery energy storage system projects with a total capacity of 250 MW/500 MWh.

  • India's Composite PMI climbs to a 14-month high of 61 in June, up from 59.3 in May. The uptrend is driven by a sharp rise in private sector activity, supported by strong domestic and international demand, record export growth, and solid hiring momentum.

  • Bajel Projects secures an engineering, procurement, and construction (EPC) contract worth over Rs 400 crore from Power Grid Corporation of India for transmission line and substation bay extension works in Madhya Pradesh.

  • Granules India is falling as it receives Form 483 with one observation from the US FDA after an inspection at its active pharmaceutical ingredient (API) facility in Telangana.

  • Unichem Laboratories is falling as it receives Form 483 with three observations from the US FDA following an inspection at its API facility in Roha.

  • Bharat Electronics bags multiple orders worth Rs 585 crore to supply fire control & sighting systems for missiles, communication equipment, jammers, spares, and services, among others.

  • Market sinks in morning trading. Nifty 50 was trading at 24930 (-182.4, -0.7%) , BSE Sensex was trading at 81947.20 (-461.0, -0.6%) while the broader Nifty 500 was trading at 22888.65 (-152.5, -0.7%)

  • Market breadth is moving down. Of the 2050 stocks traded today, 413 were gainers and 1583 were losers.

Riding High:

Largecap and midcap gainers today include Polycab India Ltd. (6,282.50, 4.7%), Trent Ltd. (6,141, 4.1%) and Dixon Technologies (India) Ltd. (1,4542, 3.5%).

Downers:

Largecap and midcap losers today include Astral Ltd. (1,502.60, -3.6%), Siemens Ltd. (3,112.20, -3.2%) and Tube Investments of India Ltd. (2,860.20, -2.3%).

Volume Rockets

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

Top high volume gainers on BSE included Zee Entertainment Enterprises Ltd. (147.30, 10.7%), Chennai Petroleum Corporation Ltd. (699.90, 10.6%) and Mangalore Refinery And Petrochemicals Ltd. (146.15, 8.2%).

Top high volume losers on BSE were Ola Electric Mobility Ltd. (43.78, -5.0%) and UCO Bank (29.39, -1.9%).

Alkyl Amines Chemicals Ltd. (2142.60, 3.7%) was trading at 5.3 times of weekly average.

BSE 500: highs, lows and moving averages

7 stocks overperformed with 52 week highs, while 2 stocks tanked below their 52 week lows.

Stocks touching their year highs included - Bharat Electronics Ltd. (420, 2.9%), Bharti Airtel Ltd. (1,937.60, 0.1%) and Multi Commodity Exchange of India Ltd. (8,295.50, 2.6%).

Stocks making new 52 weeks lows included - Siemens Energy India Ltd. (2,675, 1.3%) and Ola Electric Mobility Ltd. (43.78, -5.0%).

23 stocks climbed above their 200 day SMA including Chennai Petroleum Corporation Ltd. (699.90, 10.6%) and Mangalore Refinery And Petrochemicals Ltd. (146.15, 8.2%). 19 stocks slipped below their 200 SMA including Campus Activewear Ltd. (276, -2.7%) and TVS Holdings Ltd. (10,705, -2.2%).

 
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