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Trendlyne Marketwatch
19 Sep 2025, 03:58PM
Market closes lower, JSW Energy arm to acquire Tidong Power
By Trendlyne Analysis

 

 

Nifty 50 closed at 25,327.05 (-96.6, -0.4%), BSE Sensex closed at 82,626.23 (-387.7, -0.5%) while the broader Nifty 500 closed at 23,486.65 (-32.3, -0.1%). Market breadth is neutral. Of the 2,549 stocks traded today, 1,269 showed gains, and 1,229 showed losses.

Indian indices closed in the red as profit booking hit the IT, auto, and FMCG sectors following gains driven by the Fed rate cut. The Indian volatility index, Nifty VIX, rose 0.5% and closed at 9.9 points. Adani Group stocks surged after the Securities and Exchange Board of India (SEBI) cleared Gautam Adani and the group of stock manipulation allegations made by US short-seller Hindenburg Research.

Nifty Midcap 100 & Nifty Smallcap 100 closed flat. S&P BSE Utilities and S&P BSE IPO were among the top index gainers today. According to Trendlyne’s Sector dashboard, Commercial Services & Supplies emerged as the best-performing sector of the day, with a rise of 2.4%.

Asian indices closed lower, while European indices are trading mixed. US index futures traded higher indicating a positive start to the trading session. Oil prices edge lower as worries about weak US fuel demand outweigh optimism from the Fed’s rate cut. Signs of a cooling labor market and a sharp rise in distillate stockpiles add to concerns, suggesting demand is slowing as the summer driving season winds down.

  • Money flow index (MFI) indicates that stocks like Kaynes Technology, Great Eastern Shipping, Poonawalla Fincorp, and L&T Finance are in the overbought zone.

  • Texmaco Rail & Engineering is rising as it secures an order worth Rs 86.9 crore from Ultratech Cement to supply bogie covered freight car (BCFC) wagons and a brake van.

  • Vedanta emerges as the preferred bidder for the 152-hectare Punnam Manganese block through an e-auction held by the Department of Mines & Geology, Government of Andhra Pradesh.

  • TCC Concept surges to its 5% upper circuit as it plans to acquire a 100% stake in Pepperfry.

  • Morgan Stanley initiates coverage on Adani Power with an 'Overweight' rating and a target price of Rs 1,041. The brokerage notes that timely project execution, power purchase agreements, and improved profitability in the recently acquired 2.9 GW plants could further support earnings. A reduction in the merchant portfolio from the current 20% may offer additional upside.

  • Arfin India rises sharply to its new 52-week high of Rs 47.8 as it secures a Rs 180 crore order from JFE Shoji India. The company will supply 6,900 MT of aluminium products over six months.

  • Bharat Heavy Electricals receives a Rs 586.4 crore show cause notice from the Commercial Tax Department, Telangana, for unpaid goods & services tax (GST) during FY22-24.

  • Graphite India is rising as it acquires a 6.8% stake in US-based Graftech International for Rs 168.1 crore. Graftech manufactures high-quality graphite electrodes used in the production of electric arc furnace steel and other ferrous and non-ferrous metals.

  • SBI Mutual Fund reportedly aims to launch its IPO before FY26-end, targeting a valuation of up to Rs 1.2 lakh crore while looking to dilute less than a 5% stake. The IPO is expected to be a mix of fresh issue and offer for sale. SBI holds a 61.9% stake in the JV, while Amundi owns 36.4% and is currently unwilling to participate in the OFS.

  • Larsen & Toubro's construction equipment and industrial products design & development (CE & IPDD) vertical bags multiple significant orders worth Rs 1,000-2,500 crore from major coal and cement producers in India. The orders involve the supply and after-sales support for Komatsu machinery.

  • Rajesh Power Services is rising as it bags a turnkey contract worth Rs 182.6 crore from Madhya Gujarat Vij (MGVCL). The contract involves converting the existing 11kV high-tension (HT) network to underground cable in Mehmedabad, Anand, Petlad, and Nadiad.

  • Vodafone Idea rises sharply after the Centre tells the Supreme Court it does not oppose the company’s plea on AGR dues, though it seeks a solution as an equity holder. The hearing, earlier set for September 19, has been pushed to September 26.

  • Motilal Oswal maintains a 'Buy' rating on Prince Pipes & Fittings with a target price of Rs 440. The brokerage believes the company is navigating a challenging operating environment and uncertainties in its trade channels. However, its medium-term growth drivers remain intact, helped by new capacity in Bihar, CPVC expansion, better margins from higher utilisation and product mix, and rising demand in Tier 2 and 3 markets.

  • CESC is rising as its subsidiary, CESC Green Power, plans to set up a solar cell/ module plant and other manufacturing facilities across India, with a capex of Rs 5,000 crore. The company will establish a 3 GW solar cell/module plant, a battery manufacturing plant, a 60 MW renewable energy plant, and other ancillary units.

  • Kaynes Technology India is falling as its Chief Executive Officer (CEO), Rajesh Sharma, tenders his resignation, effective October 31.

  • GE Power's board of directors approves the merger of its Durgapur facility with JSW Energy. Shareholders of GE Power will receive 10 shares in JSW Energy for every 139 shares held in the company.

  • Siddharth Mittal, CEO and MD of Biocon, expects new biosimilars to be key growth drivers for the company. He highlights that the US market for Denosumab is valued at $5 billion. Mittal is optimistic about the GLP-1 opportunity, particularly for the next 10–15 drug launches. Debt reduction remains a top priority, with repayments on bank loans scheduled to begin next year.

  • Great Eastern Shipping enters a loan agreement with its subsidiary, Greatship (India), for a Rs 425 crore loan for the prepayment of its existing external commercial borrowing facility worth $70.9 million (~ Rs 626 crore).

  • John Cockerill India rises sharply as it bags a contract from Tata Steel for the engineering, design, manufacture and supply of a push-pull picking line and spray roaster acid regeneration plant (ARP) with a capacity of 3.5 lakh tonnes per annum (TPA).

  • Adani Group stocks like Adani Enterprises, Adani Power, Adani Green Energy, and Adani Total Gas surge after the Securities and Exchange Board of India (SEBI) clears Gautam Adani and the group of stock manipulation allegations made by US short-seller Hindenburg Research.

  • Nomura maintains a 'Buy' rating on GE Vernova T&D India with a higher target price of Rs 3,350. The brokerage highlights domestic tailwinds, with management citing a Rs 2.7 lakh crore opportunity for base orders between 2025 and 2030. The company reiterates its focus on expanding exports and sustaining profitable growth through disciplined bidding and a lean cost structure.

  • Kingfa Science & Technology is rising as it receives approval from the NSE and BSE for the preferential issue of 14.4 lakh shares worth Rs 485.8 crore at an issue price of Rs 3,470 per share.

  • Ramky Infrastructure surges as its arm, Mallannasagar Water Supply, secures a Rs 2,085 crore contract from Hyderabad Metropolitan Water Supply and Sewerage Board (HMWSSB). The project involves the execution of the Godavari Drinking Water Supply Scheme (Phases II and III) and includes construction over two years, with operation and maintenance for 10 years.

  • Unichem Labs receives a demand notice worth Euro 19.4 million (~ Rs 202.7 crore) from the European Commission, Belgium, for an anti-trust case regarding its Perindopril drug.

  • JSW Energy is rising as its subsidiary, JSW Neo Energy, plans to acquire a 100% stake in Tidong Power Generation (TPGPL) for Rs 1,728 crore. TPGPL is developing a 150 MW hydropower project and will become a subsidiary of JSW Neo Energy and a step-down subsidiary of JSW Energy.

  • Nifty 50 was trading at 25,381.45 (-42.2, -0.2%), BSE Sensex was trading at 82,946.04 (-67.9, -0.1%), while the broader Nifty 500 was trading at 23,514.85 (-4.1, 0.0%).

  • Market breadth is in the red. Of the 2,046 stocks traded today, 935 showed gains, and 1,039 showed losses.

Riding High:

Largecap and midcap gainers today include Adani Power Ltd. (709.40, 12.4%), Ipca Laboratories Ltd. (1,441, 7.5%) and Adani Total Gas Ltd. (651.45, 7.3%).

Downers:

Largecap and midcap losers today include Escorts Kubota Ltd. (3,688.10, -2.8%), SBI Cards and Payment Services Ltd. (871.65, -2.3%) and Linde India Ltd. (6,314.50, -2.0%).

Crowd Puller Stocks

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

Top high volume gainers on BSE included Adani Power Ltd. (709.40, 12.4%), Tanla Platforms Ltd. (753.70, 7.7%) and Ipca Laboratories Ltd. (1,441, 7.5%).

Top high volume losers on BSE were Relaxo Footwears Ltd. (469.65, -5.2%), Jubilant Ingrevia Ltd. (673.85, -5%) and Emami Ltd. (579.60, -3.7%).

Adani Total Gas Ltd. (651.45, 7.3%) was trading at 50.8 times of weekly average. Adani Green Energy Ltd. (1,030.70, 5.3%) and AWL Agri Business Ltd. (256.95, -1.0%) were trading with volumes 18.6 and 16.4 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

12 stocks took off, crossing 52 week highs, while 1 stock were underachiever and hit their 52 week lows.

Stocks touching their year highs included - Adani Power Ltd. (709.40, 12.4%), Ashok Leyland Ltd. (140.89, 1.5%) and Eicher Motors Ltd. (6,973.50, 0.7%).

Stock making new 52 weeks lows included - Praj Industries Ltd. (389, -0.7%).

20 stocks climbed above their 200 day SMA including Anant Raj Ltd. (640.40, 9.4%) and Ipca Laboratories Ltd. (1,441, 7.5%). 15 stocks slipped below their 200 SMA including Relaxo Footwears Ltd. (469.65, -5.2%) and Emami Ltd. (579.60, -3.7%).

 
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