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Trendlyne Marketwatch
22 Aug 2025
Market closes lower, PMO reviews DoT's proposal to cut Vodafone Idea's AGR dues
By Trendlyne Analysis

 

Nifty 50 closed at 24,870.10 (-213.7, -0.9%), BSE Sensex closed at 81,306.85 (-693.9, -0.9%) while the broader Nifty 500 closed at 22,991.30 (-145.9, -0.6%). Market breadth is in the red. Of the 2,513 stocks traded today, 949 were in the positive territory and 1,515 were negative.

Indian indices closed lower after extending losses in the afternoon session. The Indian volatility index, Nifty VIX, rose 2.9% and closed at 11.7 points. Vodafone Idea closed 7.9% higher as reports emerge that the Prime Minister's Office (PMO) is reviewing the Department of Telecommunications’ (DoT's) proposal to cut adjusted gross revenue (AGR) dues.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the red, tracking the benchmark index. BSE Metal and Nifty PSU Bank were among the worst-performing indices of the day. According to Trendlyne’s sector dashboard, Hardware Technology & Equipment emerged as the highest-performing sector of the day, with a rise of 3.6%.

European indices are trading higher, except the UK’s FTSE 100 and Portugal’s PSI indices, which are trading flat. Major Asian indices closed in the green, except Australia’s S&P ASX 100 and Indonesia’s IDX Composite indices, which closed 0.6% and 0.1% lower. US index futures are trading higher, indicating a positive start to the session as investors await Federal Reserve Chair Jerome Powell’s speech at Jackson Hole later today.

  • Relative strength index (RSI) indicates that stocks like HBL Power Systems, Maruti Suzuki, TVS Motor and Eicher Motors are in the overbought zone.

  • Edelweiss Financial Services to sell a 15% stake in Edelweiss Asset Management, the asset manager of Edelweiss Mutual Fund, to WestBridge Capital for Rs 450 crore.

  • Vodafone Idea is surging as reports emerge that the Prime Minister's Office (PMO) is reviewing the Department of Telecommunication's (DoT's) proposal to cut adjusted gross revenue (AGR) dues. The DoT also proposes giving the telecom provider additional time to repay the dues, smaller annual payouts and waivers on interest penalties on AGR dues. The company currently owes Rs 83,400 crore in AGR dues.

  • Ashoka Buildcon secures an order worth Rs 500 crore from North Western Railway for the upgradation of the existing 25 kilovolt (kV) electric traction system.

  • Nuvama notes a slowdown in general insurance growth in July and expects overall industry growth to remain muted due to weak motor sales. However, it believes large insurers could gain from stricter enforcement of Expenses of Management (EoM) rules. The brokerage maintains a 'Buy' rating on ICICI General Insurance and Star Health, with target prices of Rs 2,340 and Rs 490, respectively.

  • Midwest Gold rises to its all-time high of Rs 1,915.7 as its board of directors approves the merger of its subsidiary, Midwest Energy, with itself.

  • Choice International’s subsidiary, Choice Consultancy Services, secures orders worth Rs 140 crore for housing redevelopment, rural digitisation, urban planning, and water management projects in Maharashtra, Odisha, and Rajasthan.

  • Foseco India rises sharply after signing a deal to acquire a 75% stake in Morganite Crucible at Rs 1,557 per share, valuing the deal at Rs 654 crore. This acquisition will enable Foseco to expand into the non-ferrous market segment.

  • Care Edge Ratings reports a sharp drop in banks' gross NPAs in Q1FY26, reflecting improved asset quality. The net non-performing asset (NNPA) ratio held steady at 0.5% for the second straight quarter, down from 0.6% a year ago. The improvement was driven by better asset quality, upgrades, and stricter retail lending norms. However, stress remains in unsecured loans, education loans, and credit card dues.

  • Ircon International secures an order worth Rs 510 crore from the Meghalaya Infrastructure Development & Finance Corporation (MIDFC) to construct residential schools at eight locations in Meghalaya.

  • Geojit BNP Paribas upgrades Suzlon Energy to a 'Buy' call from 'Accumulate', with a target price of Rs 75 per share. This indicates a potential upside of 28%. The brokerage expects revenue and margins to improve, driven by strong delivery momentum and better utilisation in the wind turbine generator (WTG) and forging businesses. It expects the company's revenue to grow at a CAGR of 42% over FY26-27.

  • Hindalco Industries plans a $10 billion investment over five years to expand its aluminium, copper, and speciality alumina operations in India and overseas.

  • UBS names Ambuja Cement, UltraTech, and Dalmia Bharat as top picks, citing demand recovery, lower costs, and ongoing reforms. Despite Q1 volumes rising just 3%, below estimates, UBS anticipates strong EBITDA in Q2 and projects 7–8% growth for FY26, given the sector's near- to medium-term prospects. Following a steep decline in FY25, cement prices are expected to rebound in FY26 and FY27, boosting sector profitability.

  • Apollo Micro Systems surges to its new 52-week high of Rs 236.4 as it bags orders worth Rs 25.1 crore from the Defence Research and Development Organisation (DRDO) and Defence Public Sector Undertakings (PSUs).

  • Intellect Design Arena is rising as its subsidiary signs a memorandum of understanding (MoU) with UK-based ITIXA to form a 51:49 joint venture (JV). The JV will provide AI-enabled software together with bookkeeping, accounting, payroll, HR, and other related business support services to businesses in the UK.

  • R Systems International rises sharply as it enters into a definitive agreement to acquire Novigo Solutions for Rs 400 crore. This deal will enable R Systems to expand its offerings in advanced automation solutions in the Middle East and strengthen its delivery presence in Bengaluru and tier-2 cities.

  • Sanjay Kulshrestha, CMD of HUDCO, expects the company’s assets under management (AUM) to exceed Rs 1.5 lakh crore by Q3FY26, with infrastructure projects making up 75% of the order book by FY26-end. He notes the net interest margin stood at 2.9% in Q1FY26 and anticipates it will remain in the 3.2-3.3% range for the full fiscal year.

  • Apollo Hospitals plunges as 19 lakh shares (1.3% stake) worth Rs 1,489 crore, reportedly change hands in a block deal at an average price of Rs 7,850 per share. Promoter Suneeta Reddy is likely the seller in the transaction.

  • Texmaco Rail is rising as it secures an order worth Rs 103 crore from Leap Grain Rail Logistics to supply BCBFG wagons and BVCM brake vans.

  • NIIT Learning Systems' board of directors approves a corporate guarantee worth Euro 15.8 million (~ Rs 159.6 crore) to ICICI Bank UK, in favour of its subsidiary, NIIT (Ireland), for a loan worth Euro 15 million (~ Rs 152 crore).

  • Manoj Verma, Chief Operating Officer of Bikaji Foods, states that the company has no plans for more price hikes. Bikaji has already implemented a 3.5–4% price hike over the past three quarters. His comments come amid a sharp rebound in Malaysian crude palm oil, which has risen 16% since its low in May 2025, after falling nearly 30% from its peak. Verma does not expect a significant increase in palm oil costs going forward.

  • GHV Infra Projects receives a letter of intent (LoI) worth Rs 2,000 crore from Valor Estate for the engineering, procurement and construction (EPC) of the police housing project in Malad under the Project Affected People (PAP) scheme.

  • PTC Industries is rising as it bags an order worth Rs 110 crore from BrahMos Aerospace for the supply of critical titanium castings over the next 24 months.

  • Titagarh Rail Systems is rising as it secures an order worth Rs 445 crore from Garden Reach Shipbuilders & Engineers for the construction of two vessels. The vessels will handle geological mapping, mineral exploration, ocean monitoring, and onboard scientific analysis.

  • Wipro to acquire 100% of Harman Connected Services for $375 million (approximately Rs 3,274 crore) to strengthen its global engineering, research, and development (ER&D) and information technology (IT) services.

  • Nifty 50 was trading at 25,022.50 (-61.3, -0.2%), BSE Sensex was trading at 81,951.48 (-49.2, -0.1%) while the broader Nifty 500 was trading at 23,117.60 (-19.6, -0.1%).

  • Market breadth is neutral. Of the 2,005 stocks traded today, 989 were on the uptick, and 962 were down.

Riding High:

Largecap and midcap gainers today include Ipca Laboratories Ltd. (1,418.40, 4.4%), Bharti Hexacom Ltd. (1,859.60, 3.2%) and UNO Minda Ltd. (1,265.80, 2.9%).

Downers:

Largecap and midcap losers today include Hyundai Motor India Ltd. (2,366.60, -3.4%), ICICI Lombard General Insurance Company Ltd. (1,910.70, -2.9%) and Samvardhana Motherson International Ltd. (95.16, -2.8%).

Volume Shockers

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

Top high volume gainers on BSE included Aditya Birla Fashion and Retail Ltd. (81.25, 7.4%), Zee Entertainment Enterprises Ltd. (123.58, 5.5%) and Poly Medicure Ltd. (2,070.60, 5.4%).

Top high volume loser on BSE was Finolex Cables Ltd. (849.50, -0.2%).

PTC Industries Ltd. (13,764, 3.0%) was trading at 11.5 times of weekly average. Procter & Gamble Health Ltd. (6,581.50, 3.8%) and Titagarh Rail Systems Ltd. (858.85, 0.4%) were trading with volumes 6.3 and 5.6 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

15 stocks overperformed with 52 week highs, while 1 stock were underachiever and hit their 52 week lows.

Stocks touching their year highs included - Apollo Hospitals Enterprise Ltd. (7,922.50, -0.1%), Cummins India Ltd. (3,916, 0.8%) and JM Financial Ltd. (193.02, 1.7%).

Stock making new 52 weeks lows included - Cohance Lifesciences Ltd. (884.70, -1.5%).

11 stocks climbed above their 200 day SMA including Zee Entertainment Enterprises Ltd. (123.58, 5.5%) and PTC Industries Ltd. (13,764, 3.0%). 21 stocks slipped below their 200 SMA including Samvardhana Motherson International Ltd. (95.16, -2.8%) and Lodha Developers Ltd. (1,261, -2.5%).

 
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