Trendlyne Marketwatch
Trendlyne Marketwatch
24 Jun 2025, 03:56PM
Market closes higher, Bondada Engg bags a Rs 836 crore order in Tamil Nadu
By Trendlyne Analysis

 

 

Nifty 50 closed at 25,044.35 (72.5, 0.3%) , BSE Sensex closed at 82,055.11 (158.3, 0.2%) while the broader Nifty 500 closed at 23,113.20 (111.7, 0.5%). Market breadth is surging up. Of the 2,456 stocks traded today, 1,632 showed gains, and 773 showed losses.

Indian indices fell from their day highs amid reports of ceasefire violations between Iran and Israel. However, the benchmark Nifty 50 index managed to close in the green. The Indian volatility index, Nifty VIX, declined 3.7% and closed at 13.5 points. Vodafone Idea closed 5% higher as the government is reportedly exploring options to ease its Rs 84,000 crore adjusted gross revenue (AGR) dues.

Nifty Midcap 100 & Nifty Smallcap 100 closed in the green, following the benchmark index. Nifty Alpha Quality Value Low-Volatility 30 and S&P BSE SME IPO were among the top index gainers today. According to Trendlyne’s Sector dashboard, Transportation emerged as the best-performing sector of the day, with a rise of 1.7%.

Asian indices closed higher, while European indices are trading in the green except Russia’s MOEX & RTSI indices. US index futures traded in the green indicating a positive start to the trading session. Federal Reserve Governor Michelle Bowman signaled a dovish shift, saying a rate cut should be considered at the July meeting if inflation and labor market conditions remain favorable. She added that Trump’s broad tariff plans would likely have only a temporary impact on US inflation.

  • Relative strength index (RSI) indicates that stocks like Aditya Birla Capital, DCM Shriram, Max Financial Services, and Bharat Electronics are in the overbought zone.

  • Capacit'e Infraprojects surges as it receives a letter on intent (LOI) worth Rs 621 crore from Saifee Burhani Upliftment Trust (SBUT). The order includes building structure work and completing internal works such as electrical, plumbing, and finishing for Sector 7 of the Saifee Burhani Upliftment Project in Bhendi Bazaar, Mumbai.

  • Astec Lifesciences surges as its board of directors approves a fundraising of up to Rs 250 crore through the rights issue of equity shares.

  • Bondada Engineering's stock rises sharply as it bags a letter of award (LoA) worth Rs 836 crore from Tamil Nadu Green Energy Corp (TNGECL) to set up 400 megawatt-hour (MWh) battery energy storage systems (BESS) in the state.

  • Nuvama maintains a 'Buy' rating on Jindal Steel & Power with a target price of Rs 1,193. The brokerage views the recent correction, caused by seasonal weakness, as a good buying opportunity. It expects EBITDA to nearly double by FY27, driven by new 4.6 mtpa blast furnace and 3 mtpa basic oxygen furnace (BoF) commissioning in FY26.

  • Delhivery rises sharply as it expands the capacity of its Chandigarh Gateway Hub by 30%. The expanded hub is equipped with a hub conveyor solution with a 4,000 throughput per hour capacity and a cross belt sorter (CBS) with a 12,000 throughput per hour capacity.

  • Bajaj Consumer Care surges as its board appoints Naveen Pandey as the new Managing Director (MD) for five years, succeeding Jaideep Nandi, effective July 1.

  • Motilal Oswal initiates coverage on Aditya Birla Lifestyle Brands with a 'Neutral' call and a target price of Rs 190 per share. This indicates a potential upside of 22.6%. The brokerage believes that the company's revenue and profitability will improve on the back of retail store additions in lifestyle brands, improvement in store productivity, scale-up of emerging brands, lower discounting, an improved channel mix, and operating leverage benefits. It expects the firm's revenue to grow at a CAGR of 10.2% over FY26-27.

  • Jitendra Kumar Agarwal, Joint MD of Genus Power Infrastructures, projects 18% margins for FY26 and expects a reduction in working capital days. He highlights a strong order book of Rs 30,110 crore as of March and anticipates Rs 45,000 crore in tenders to be finalized over the next 9 months. He sees a significant growth opportunity with 300 million smart meters due for replacement in India.

  • Vodafone Idea rises sharply as the government reportedly explores options to ease its Rs 84,000 crore adjusted gross revenue (AGR) dues. The reported options include extending repayment to 20 years or applying simple interest on the outstanding amount instead of compound interest.

  • Gland Pharma is rising as it receives an establishment inspection report (EIR) from the US FDA following a pre-approval inspection (PAI) for sterile APIs at its Visakhapatnam facility conducted in February 2025, marking the closure of the inspection.

  • Ugro Capital rises sharply as its board of directors appoints its Chief Risk Officer (CRO), Anuj Pandey, as the Chief Executive Officer (CEO), effective July 1.

  • Defence stocks like Cochin Shipyard and Hindustan Aeronautics fall sharply as easing West Asia tensions trigger profit booking. However, Vishnu Kant Upadhyay of Master Capital Services says the long-term outlook remains strong, backed by government plans to raise defence spending to 3–4% of GDP and target of Rs 25,000 crore in exports by FY26.

  • NTPC falls as 4.8 crore shares (0.9% stake) worth approximately Rs 1,547 crore reportedly change hands in a block deal.

  • Garware Technical Fibres is rising as it plans to acquire Norway's Offshore & Trawl Supply and Advanced Mooring Supply for NOK 122 million (approximately Rs 104.7 crore) through its wholly-owned subsidiary, Garware Technical Fibres UK. This acquisition aims to strengthen its premium synthetic rope and offshore wind energy business.

  • Enviro Infra Engineers secures engineering, procurement, and construction (EPC) order worth Rs 306.3 crore from Chhattisgarh municipal bodies to construct sewage treatment plants.

  • Brent crude oil prices drop over 4% to around $65 per barrel after reports of a ceasefire agreement announced by US President Donald Trump, with Israel reportedly agreeing. Meanwhile, Iran’s foreign minister denied any formal deal but stated Tehran would stop attacks if Israel ended its aggression.

  • Marathon Nextgen's board of directors approves raising Rs 900 crore via qualified institutional placement (QIP) for debt repayment and land acquisition.

  • HG Infra Engineering is rising as it emerging as the lowest bidder for a Rs 117.7 crore order from the Military Engineer Services for the development of an integrated material handling facility at the Naval Dockyard in Mumbai, Maharashtra.

  • Kolte-Patil Developers' board of directors approves a preferential issue of 1.3 crore equity shares worth Rs 417 crore to BREP Asia III India Holding Co VII at an issue price of Rs 329 per share.

  • Rajan Sethuraman, CEO of Latent View Analytics guides a revenue growth of over 18%-19% along with 23% margin in FY26. He expresses confidence in doubling Gen AI revenue by that time. ICICI Securities expects global analytics outsourcing market size to rise to $32 billion by 2030.

  • Dixon Technologies falls after promoter Sunil Vachani sells a 2.7% stake on Monday, worth approximately Rs 2,200 crore, in a block deal at an average price of Rs 13,301.4 per share.

  • Devyani International is rising as it signs an agreement to raise its stake in Sky Gate Hospitality from 80.7% to 86.1% for Rs 106.3 crore.

  • Hindustan Construction Company's Chief Executive Officer & Managing Director, Jaspreet Bhullar, tenders his resignation, effective June 23.

  • Cochin Shipyard rises as its subsidiary, Hooghly Cochin Shipyard, bags an order reportedly worth Rs 100-250 crore from Heritage River Journeys to construct two luxury river cruise vessels.

  • Markets opened high. Nifty 50 was trading at 25,228.50 (256.6, 1.0%), BSE Sensex was trading at 82,534.61 (637.8, 0.8%) while the broader Nifty 500 was trading at 23,229.85 (228.4, 1.0%).

  • Market breadth is highly positive. Of the 1,978 stocks traded today, 1,721 were on the uptick, and 224 were down.

Riding High:

Largecap and midcap gainers today include Hyundai Motor India Ltd. (2,071.40, 3.6%), Ambuja Cements Ltd. (554.20, 3.5%) and Siemens Energy India Ltd. (2,706.40, 3.5%).

Downers:

Largecap and midcap losers today include Oil India Ltd. (445.85, -5.6%), Linde India Ltd. (6,562.50, -4.4%) and Oil And Natural Gas Corporation Ltd. (243.92, -3.0%).

Crowd Puller Stocks

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

Top high volume gainers on BSE included JM Financial Ltd. (150.29, 7.8%), Usha Martin Ltd. (332.05, 7.1%) and Titagarh Rail Systems Ltd. (922.85, 5.4%).

Top high volume losers on BSE were KPIT Technologies Ltd. (1,306.10, -6.1%) and NTPC Ltd. (329.95, -0.8%).

Swan Energy Ltd. (445.70, 4.5%) was trading at 13.0 times of weekly average. Garware Technical Fibres Ltd. (906, 5.2%) and Timken India Ltd. (3,387.50, 4.3%) were trading with volumes 9.9 and 6.9 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

11 stocks took off, crossing 52 week highs,

Stocks touching their year highs included - Bharat Electronics Ltd. (418.50, -0.6%), Bharti Airtel Ltd. (1,933.60, -0.1%) and L&T Finance Ltd. (200.06, 3.5%).

47 stocks climbed above their 200 day SMA including Kajaria Ceramics Ltd. (1,105.30, 4.9%) and Ambuja Cements Ltd. (554.20, 3.5%). 10 stocks slipped below their 200 SMA including Oil India Ltd. (445.85, -5.6%) and Linde India Ltd. (6,562.50, -4.4%).

 
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