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Trendlyne Marketwatch
29 Aug 2025, 03:59PM
Market closes lower, Reliance Jio Infocomm to list by first half of 2026
By Trendlyne Analysis

 

Nifty 50 closed at 24,426.85 (-74.1, -0.3%), BSE Sensex closed at 79,809.65 (-270.9, -0.3%) while the broader Nifty 500 closed at 22,462.95 (-78.7, -0.4%). Market breadth is in the red. Of the 2,521 stocks traded today, 1,078 were on the uptrend, and 1,387 went down.

Indian indices closed lower after paring gains in the afternoon session. The Indian volatility index, Nifty VIX, fell 3.5% and closed at 11.8 points. Mukesh Ambani, Chairman and MD of Reliance Industries, confirmed that Reliance Jio Infocomm will go public in the first half of 2026.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the red, tracking the benchmark index. Nifty Capital Markets and BSE Realty Index were among the worst-performing indices of the day. According to Trendlyne’s sector dashboard, Forest Materials emerged as the highest-performing sector of the day, with a rise of 1.7%.

European indices are trading lower. Major Asian indices closed in the red, except China’s FTSE China 50 and Sri Lanka’s CSE All-Share indices, which closed 0.5% and 1.2% higher. US index futures are trading lower, indicating a cautious start to the session as investors await the Federal Reserve’s inflation data, set to come later today. Meanwhile, Alibaba Group Holding, Ulta Beauty, Ambarella, and Affirm Holdings are set to report their earnings today.

  • Relative strength index (RSI) indicates that stocks like Maruti Suzuki, UNO Minda, Eicher Motors and Jindal Stainless are in the overbought zone.

  • Dreamfolks Services receives contract termination notices from Adani Digital, Semolina Kitchens, effective September 15 and Encalm Hospitality, effective November 1.

  • Reliance Industries announces a 70:30 joint venture with Meta to develop enterprise AI solutions for India and select global markets. Both companies will invest $100 million (approx. Rs 855 crore), leveraging Meta’s Llama models for a secure AI platform.

  • Easy Trip Planners is falling as its Managing Director (MD), Prashant Pitti, tenders his resignation, effective immediately.

  • Hitachi Energy India plans to invest Rs 300 crore in its insulation and components business in India by expanding its Mysuru facility. The expansion will double the production capacity for high-voltage pressboard and laminated board used in transformers. This step addresses insulation material shortages in India and supports growing demand in overseas markets.

  • Mukesh Ambani, Chairman and MD of Reliance Industries, confirms that Reliance Jio Infocomm will go public in the first half of 2026. He also outlines plans to expand Jio’s global presence, aiming to take its home-grown technology to international markets.

  • Kernex Microsystems is rising as it secures an order worth Rs 209.8 crore from the Dedicated Freight Corridor Corporation of India (DFCCIL). The contract involves installing the KAVACH train collision avoidance system and related equipment across a 931 km stretch of the Eastern Dedicated Freight Corridor.

  • Smartworks Coworking Spaces gets a win as the Supreme Court of India dismisses a civil appeal by NGO Infrastructure Watchdog, warning the NGO for submitting fabricated documents. The appeal, filed on July 8, claimed that SEBI had not acted on the complaints.

  • Geojit BNP Paribas retains its 'Buy' call on Siemens India with a target price of Rs 3,509 per share. This indicates a potential upside of 13.8%. The brokerage expects the company to capitalise on opportunities due to its focus on solidifying its position as a leading technology-driven player in the industry, as well as the infrastructure and mobility sectors. It expects the firm's revenue to grow at a CAGR of 16.3% over FY26-27.

  • Taher Badshah, CIO at Invesco, lists two-wheelers, entry-level four-wheelers, and some staple products as the major beneficiaries of the GST cuts. He sees improved India-China ties as positive for supply chains. Badshah believes the government can support both consumption and industrial growth without missing fiscal targets, if tariff issues are managed. He suggests exploring additional measures to sustain a “twin-track” economy.

  • Authum Investment & Infrastructure is rising as its board of directors approves the sale of a 20% stake in its subsidiary, Billion Dream Sports, to HRX Group. Its board also rejects the proposal for a fundraise through a qualified institutional placement (QIP).

  • ABB India is rising as it receives an order worth Rs 173.6 crore from Siemens Gamesa Renewable Power to supply 3.X wind turbine converters and electrical cabinets. The equipment will be manufactured on a built-to-print basis at its Nelamangala factory.

  • NTPC is falling as it approves the transfer of its coal mining business to its subsidiary, NTPC Mining, for Rs 10,503.3 crore to be paid in phases. The business contributed Rs 7,735 crore in revenue in FY25.

  • PL Capital initiates coverage on Amber Enterprises India with a 'Buy' rating and a target price of Rs 9,782. The brokerage highlights improved capacity utilisation, product diversification, and expansion into the fast-growing PCB market, supported by a Rs 5,000 crore electronics order book as the key growth drivers. It also notes a revival in the mobility segment, backed by a Rs 2,000 crore order book, and strong leadership in room air conditioner (RAC) contract manufacturing.

  • CG Power & Industrial Solutions is rising as its subsidiary, CG Semi, plans to invest Rs 7,600 crore in partnership with Renesas and Stars Microelectronics over the next five years. The investment involves developing two outsourced semiconductor assembly and test (OSAT) facilities in Surat. The company has inaugurated the first facility and expects the second facility to be operational by the end of 2026.

  • Yes Bank rises sharply as reports suggest Sumitomo Mitsui Banking Corp (SMBC) plans an additional Rs 16,000 crore infusion to bolster the bank’s balance sheet. This comes on top of Rs 13,500 crore already committed for a 20% stake.

  • RBL Bank rises sharply as French lender Societe Generale buys 31 lakh shares in the company worth Rs 79 crore at an average price of Rs 250.6 per share through a bulk deal.

  • According to Jefferies' Greed & Fear report, US tariffs could pare India’s GDP by $55–60 billion, with textiles, footwear, jewellery, and gems likely to be the most hit. The report warns that 50% tariffs pose a serious risk to SMEs, potentially impacting microfinance and consumer finance firms. Despite these near-term challenges, India remains Greed & Fear's top capital market pick outside the US. Jefferies has also made portfolio changes, replacing Aditya Birla Real Estate with M&M.

  • National Aluminium Company is rising as it reportedly plans to invest around Rs 30,000 crore in capex for a new smelter and a coal power plant over the next four to five years.

  • Banco Products falls as its French step-down subsidiary, NRF France SAS, shuts down its local operations following a fire incident at its warehouse. The company also reports no injuries and states that current orders and shipments will be fulfilled from other warehouses.

  • Bank of Baroda reportedly reduces interest rates on car loans by 25 bps to 8.2% and loan against property rates by 60 bps to 9.2%, effective immediately.

  • Ashish Jakhanwala, CMD & CEO of Samhi Hotels, believes that a GST cut on hotel rooms priced below Rs 7,500 could boost the company’s revenue by 10–15%. Currently, 60–65% of its room inventory falls under this pricing, constituting 45% of its overall revenue. He adds that their new hotel in Hyderabad is expected to add Rs 75–80 crore in revenue.

  • Muthoot Finance acquires an additional 3.3 lakh shares in its subsidiary, Muthoot Money, for a cash consideration of Rs 500 crore. Muthoot Finance buys the shares through a preferential allotment by its subsidiary.

  • Adani Power secures a letter of award from Bihar State Power Generation to supply electricity for 25 years. It will supply power from a 2,400 MW ultra-supercritical greenfield plant to be developed at Pirpainti in Bhagalpur district. The company is investing about $3 billion (~Rs 26,000 crore) to set up the plant and related infrastructure.

  • Jain Irrigation Systems is rising as its board of directors schedules a meeting for September 2 to consider a proposal for raising funds.

  • Samvardhana Motherson International plans to acquire an 81% stake in Yutaka Giken for about $184 million (around Rs 1,600 crore) through its subsidiary. It will also acquire an 11% stake in Shinnichi Kogyo and 100% of Yutaka Autoparts India to strengthen its business with Japanese original equipment manufacturers.

  • Nifty 50 was trading at 24,507.40 (6.5, 0.0%), BSE Sensex was trading at 80,010.83 (-69.7, -0.1%) while the broader Nifty 500 was trading at 22,552.20 (10.6, 0.1%).

  • Market breadth is in the green. Of the 2,010 stocks traded today, 1,221 were in the positive territory and 718 were negative.

Riding High:

Largecap and midcap gainers today include CG Power and Industrial Solutions Ltd. (694.30, 4.6%), Colgate-Palmolive (India) Ltd. (2,331.80, 3.1%) and Escorts Kubota Ltd. (3,567.80, 2.7%).

Downers:

Largecap and midcap losers today include Jindal Stainless Ltd. (762.95, -5.4%), IDBI Bank Ltd. (85.67, -4.7%) and Mahindra & Mahindra Ltd. (3,199.50, -2.9%).

Volume Shockers

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

Top high volume gainers on BSE included Relaxo Footwears Ltd. (477.60, 6.7%), Granules India Ltd. (492.25, 5.4%) and Sammaan Capital Ltd. (123.96, 5.1%).

Top high volume losers on BSE were TBO Tek Ltd. (1,305, -3.9%), Aegis Logistics Ltd. (672.15, -3.3%) and PB Fintech Ltd. (1,770.80, -1.9%).

Sun TV Network Ltd. (543.50, -1.7%) was trading at 7.3 times of weekly average. Aavas Financiers Ltd. (1,520.20, -1.4%) and Ratnamani Metals & Tubes Ltd. (2,390, 0.5%) were trading with volumes 5.8 and 5.2 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

6 stocks hit their 52 week highs, while 8 stocks hit their 52 week lows.

Stocks touching their year highs included - UNO Minda Ltd. (1,279, -1.3%), Procter & Gamble Health Ltd. (6,325.50, 0.4%) and CreditAccess Grameen Ltd. (1,395, 3.9%).

Stocks making new 52 weeks lows included - HFCL Ltd. (70.23, 0.8%) and REC Ltd. (350, -1.4%).

15 stocks climbed above their 200 day SMA including CG Power and Industrial Solutions Ltd. (694.30, 4.6%) and YES Bank Ltd. (19.10, 2.3%). 28 stocks slipped below their 200 SMA including SJVN Ltd. (93.66, -2.6%) and Nuvama Wealth Management Ltd. (6,384, -2.5%).

 
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