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Trendlyne Marketwatch
09 Jul 2025, 05:47PM
Market closes lower, Sarda Energy gets CSPDCL nod to source power from Rehar-1 hydro project
By Trendlyne Analysis

 

Nifty 50 closed at 25,476.10 (-46.4, -0.2%), BSE Sensex closed at 83,536.08 (-176.4, -0.2%) while the broader Nifty 500 closed at 23,557.45 (-15.1, -0.1%). Market breadth is neutral. Of the 2,483 stocks traded today, 1,242 were gainers and 1,195 were losers.

Indian indices closed lower after falling in the afternoon session. The Indian volatility index, Nifty VIX, fell 2.1% and closed at 11.9 points. Vedanta closed 3.4% lower after US-based short-seller Viceroy Research accused its parent, Vedanta Resources, of running a Ponzi-like scheme to service debt. The Vedanta Group denied the allegations, calling the report baseless and malicious.

Nifty Smallcap 100 closed higher, while Nifty Midcap 100 closed flat. Nifty Realty and BSE Metal were among the top index losers today. According to Trendlyne’s sector dashboard, Oil & Gas emerged as the worst-performing sector of the day, with a fall of 1.1%.

Asian indices closed mixed. European indices are trading higher, except for Russia’s RTSI and MOEX, which are trading lower. US index futures are trading flat as investors assess Donald Trump’s threat of a 200% tariff on drug imports and a 50% import duty on copper. Investors also await the Federal Reserve’s June meeting minutes for clarity on the outlook for interest rate cuts. Brent crude futures are trading higher after rising 0.8% on Tuesday.

  • Relative strength index (RSI) indicates that stocks like Laurus Labs, Bayer Cropscience, Jaiprakash Power, and JM Financial are in the overbought zone.

  • Indian Energy Exchange rises sharply as reports suggest the government is not prioritising market coupling as a key reform. This eases concerns that the move could reduce trading volumes on exchanges like IEX by introducing a uniform power price.

  • Motilal Oswal retains its 'Buy' call on SRF, with a higher target price of Rs 3,700 per share. This indicates a potential upside of 12.8%. The brokerage believes that the company's focus on market recovery, innovation, and improving operational efficiencies will grow profitability. It expects the firm's revenue to grow at a CAGR of 17.5% over FY26-27.

  • Lupin signs a global licensing agreement with Zentiva to commercialize its biosimilar Certolizumab Pegol. Under the deal, Lupin will develop and supply the drug, while Zentiva will manage sales outside the United States and Canada. Lupin to receive $10 million upfront and up to $50 million in milestones.

  • Antique Stock Broking initiates coverage on Birlasoft with 'Hold' rating and a target price of Rs 450. The brokerage expects a gradual recovery for Birlasoft following a tough FY25, with growth likely to pick up in the second half of FY26, supported by deal ramp-ups and a rebound in key sectors like BFSI. Management is focusing on revenue growth over short-term profitability, and expects FY26 margins to stay flat at around 13%.

  • Sarda Energy & Minerals is rising as it receives approval from the Chhattisgarh State Power Distribution (CSPDCL) to procure 24.9 MW of electricity from the Rehar I small hydro power project on a long-term basis.

  • Vedanta falls sharply after short-seller Viceroy Research alleges material discrepancies in group financials and calls the structure financially unsustainable, citing elevated debt and governance concerns. Vedanta denies the claims, calling them baseless allegations aimed at discrediting the group.

  • Prestige Estates Projects' sales surges 3X YoY to Rs 12,126.4 crore in Q1FY26. Collections for the quarter increase by 55% YoY to Rs 4,522.7 crore. The company adds four new residential projects during the quarter across NCR, Chennai and Bengaluru.

  • Syrma SGS Technology plans to establish India’s largest multi-layer Printed Circuit Board (PCB) and Copper Clad Laminate (CCL) manufacturing facility at Naidupeta in Andhra Pradesh. The Rs 1,800 crore project will be developed in partnership with South Korean major Shinhyup Electronics, which will provide technology and marketing support.

  • Mahindra Logistics surges as its board of directors schedules a meeting on July 11 to consider raising funds by issuing equity shares or other securities.

  • GR Infraprojects is rising as its subsidiary, GR Varanasi Kolkata Highway, receives a Rs 1,248 crore project from the National Highways Authority of India (NHAI). The project involves constructing a 6-lane greenfield highway section in Bihar over the next two years.

  • Ventura maintains its 'Buy' call on Larsen & Toubro, with a target price of Rs 4,448 per share. This indicates a potential upside of 24%. The brokerage believes that the company is well-positioned to bag new orders with the government increasing the capex for railways, roads, defence, energy, and rural/urban development to Rs 11.2 lakh crore. It expects the company's revenue to grow at a CAGR of 13.5% over FY26-28.

  • Tesla assures its Indian suppliers that its local sourcing policy stays unchanged despite possible US tariffs. It adds that its long-term global partnership approach will remain consistent. Reportedly, Sona BLW and Samvardhana Motherson are among those supplying parts to Tesla.

  • Tata Motors' global wholesales decline 9% YoY to 3 lakh units in Q1FY26. The drop is led by lower sales across segments, including an 11% fall in subsidiary Jaguar Land Rover's (JLR) global wholesales. The company attributes the decline to the phasing out of older Jaguar models and a temporary pause in US shipments due to new import tariffs.

  • Ashok Leyland's board of directors sets July 16 as the record date for its 1:1 bonus share issue. The shareholders will receive one new fully paid equity share of Rs 1 each for every one existing equity share.

  • Hindustan Copper falls after US President Donald Trump says he will impose a 50% tariff on copper imports. The news pushes global copper prices up over 10% before easing slightly.

  • Elgi Equipments rises over 4% as SBI Mutual Fund reportedly buys 18.1 lakh shares (0.6% equity) amounting to Rs 96.4 crore in a block deal.

  • Signature Global's Q1FY26 pre-sales decline 15% YoY to Rs 2,640 crore, with a 23% YoY decrease in collections to Rs 930 crore.

  • Crizac’s shares debut on the bourses at a 14.7% premium to the issue price of Rs 245. The Rs 860 crore IPO received bids for 59.8 times the total shares on offer.

  • Union Bank's Q1FY26 total business reaches Rs 22.1 lakh crore, up 5% YoY. Total deposits grow 3.6% to Rs 12.3 lakh crore, and gross advances rise 6.8% YoY during the quarter.

  • According to data released by the Association of Mutual Funds in India (AMFI), mutual funds' net equity inflows rise 24% MoM to Rs 23,568 crore in June. Meanwhile, total assets under management(AUM) increase by 3% MoM, reaching Rs 74.4 lakh crore in June.

  • Motilal Oswal initiates a ‘Buy’ rating on Delhivery with a target price of Rs 480. The brokerage believes Delhivery’s focus on strategic acquisitions and integrated logistics, along with rising e-commerce penetration, strengthens its growth prospects and expects EBITDA to grow at a CAGR of 36% between FY26 and FY28.

  • Bajel Projects rises to its 5% upper limit as it plans to invest Rs 170 crore to expand capacity at its Ranjangaon facility. The expansion will increase galvanisation capacity from 40,500 metric tonnes per annum to 1.1 lakh metric tonnes per annum.

  • Puravankara is rising as it bags orders to redevelop eight residential societies in Mumbai, with an estimated saleable area of 12 lakh square feet and a gross development value (GDV) of Rs 2,100 crore.

  • Varroc Engineering is falling as its Dutch subsidiary, VarrocCorp Holding BV, receives an arbitration order worth $66.4 million (~ Rs 570.4 crore) from the ICC International Court of Arbitration. The order is in favour of OPmobility Lighting Holding, France, for alleged breaches in the securities purchase agreement by VarrocCorp.

  • Nifty 50 was trading at 25,488.30 (-34.2, -0.1%), BSE Sensex was trading at 83,656.14 (-56.4, -0.1%) while the broader Nifty 500 was trading at 23,557.65 (-14.9, -0.1%)

  • Market breadth is in the green. Of the 2,002 stocks traded today, 1,251 showed gains, and 701 showed losses.

Riding High:

Largecap and midcap gainers today include FSN E-Commerce Ventures Ltd. (213.37, 5.3%), Coromandel International Ltd. (2,302.40, 4.3%) and MRF Ltd. (1,50,715, 4.0%).

Downers:

Largecap and midcap losers today include GAIL (India) Ltd. (185.03, -4.0%), Union Bank of India (144.59, -3.8%) and Max Healthcare Institute Ltd. (1,247.40, -3.7%).

Crowd Puller Stocks

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

Top high volume gainers on BSE included Metropolis Healthcare Ltd. (2,057.90, 10.3%), Sterling and Wilson Renewable Energy Ltd. (331.45, 8.6%) and PG Electroplast Ltd. (788.75, 6.5%).

Top high volume losers on BSE were Union Bank of India (144.59, -3.8%), Vedanta Ltd. (440.75, -3.4%) and Hindustan Copper Ltd. (264.75, -3.3%).

Akzo Nobel India Ltd. (3,648.80, -1.0%) was trading at 30.5 times of weekly average. Global Health Ltd. (1,278.70, 5.0%) and PCBL Chemical Ltd. (423.70, 4.8%) were trading with volumes 21.5 and 17.5 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

7 stocks took off, crossing 52 week highs, while 1 stock hit their 52 week lows.

Stocks touching their year highs included - MRF Ltd. (1,50,715, 4.0%), The Ramco Cements Ltd. (1,102.20, 0.3%) and UltraTech Cement Ltd. (12,562, 0.9%).

Stock making new 52 weeks lows included - Ola Electric Mobility Ltd. (40.38, -0.9%).

20 stocks climbed above their 200 day SMA including Metropolis Healthcare Ltd. (2,057.90, 10.3%) and PCBL Chemical Ltd. (423.70, 4.8%). 9 stocks slipped below their 200 SMA including GAIL (India) Ltd. (185.03, -4.0%) and Vedanta Ltd. (440.75, -3.4%).

 
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