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Trendlyne Marketwatch
23 Sep 2025, 03:57PM
Market closes lower, Tata Motors’ JLR extends production halt till Oct 1
By Trendlyne Analysis

 

Nifty 50 closed at 25,169.50 (-32.9, -0.1%) , BSE Sensex closed at 82,102.10 (-57.9, -0.1%) while the broader Nifty 500 closed at 23,325.25 (-56.2, -0.2%). Market breadth is in the red. Of the 2,547 stocks traded today, 990 showed gains, and 1,518 showed losses.

Indian indices closed lower after switching between gains and losses throughout the day. The Indian volatility index, Nifty VIX, rose 0.6% and closed at 10.6 points. Tata Investment Corp closed 10.4% higher as its board of directors approved a 1:10 stock split, setting October 14 as the record date.

Nifty Smallcap 100 and Nifty Midcap 100 closed lower. Nifty PSU Bank and Nifty Metal were among the best-performing indices of the day. According to Trendlyne’s sector dashboard, FMCG emerged as the worst-performing sector of the day, with a fall of 1.6%.

European indices are trading higher. Major Asian indices closed with varied trends. US index futures are trading flat, indicating a cautious start to the session as investors await comments from the Federal Reserve Chair Jerome Powell. Meanwhile, Micron Technology, Autozone, and Worthington Enterprises are set to report their earnings today.

  • Money flow index (MFI) indicates that stocks like Adani Total Gas, Usha Martin, Adani Enterprises, and MMTC are in the overbought zone.

  • KNR Constructions receives a letter of acceptance (LoA) for a Rs 459.1 crore infrastructure project in Telangana. The engineering, procurement, and construction (EPC) contract includes building multi-level flyovers, grade separators, and widening key roads. The project is scheduled for completion within 24 months.

  • HEG’s board of directors approves an unsecured loan of Rs 210 crore to its associate Bhilwara Energy. The loan, with an annual interest rate of 9%, will be disbursed in tranches and has a one-year tenure.

  • Tata Motors’ UK-based subsidiary, Jaguar Land Rover, extends its production halt till October 1 due to a recent cybersecurity breach. Reports suggest that JLR’s car production may remain suspended until November.

  • India's flash PMI eases to 61.9 in September, a slight slowdown from 63.2 in August, but still shows strong expansion. This is the second-best reading in over two years. Manufacturing growth outpaces services, though both sectors record moderate gains. HSBC Chief India Economist Pranjul Bhandari says Trump's 50% tariff on India likely contributed to the slower rise in new export orders during August and September.

  • Axis Direct retains its 'Buy' call on JSW Energy with a target price of Rs 705 per share. This indicates a potential upside of 29.3%. The brokerage remains positive on the stock due to its strong execution capabilities and diversified portfolio. It expects the firm's revenue to grow at a CAGR of 35.6% over FY26-28.

  • Brigade Enterprises signs a joint development agreement to build a premium residential project in Banashankari, Bengaluru. The 7.5-acre project has a gross development value (GDV) of around Rs 1,200 crore.

  • Hindustan Construction rises sharply as it bags two orders worth Rs 2,566 crore from the Patna Metro Rail Corp (PMRCL) to construct 10.7 km of underground tunnels and six metro stations for the Patna Metro Rail project.

  • Avendus Spark initiates coverage on Premier Energies with an 'Accumulate' rating and a target price of Rs 1,100. The brokerage notes that Premier Energies is a relatively new entrant in the renewable space. Despite debuting at a 120% premium to its issue price in September 2024, the stock currently trades slightly above its listing level. The brokerage sees potential for the solar company, projecting 44% CAGR in production along with healthy gross margins of 36%.

  • Coal India's subsidiary, Bharat Coking Coal, receives approval from the Securities and Exchange Board of India (SEBI) to launch its initial public offering (IPO).

  • Shilpa Medicare rises as it receives initial authorisation from the European Medicines Agency (EMA) for its Rivaroxaban Orodispersible Films, a generic version of Bayer’s Xarelto. The drug is used to prevent and treat blood clots in patients. The European oral Rivaroxaban market is valued at around $2.5 billion.

  • JK Lakshmi Cement expands its capacity to 18 metric tonnes per annum (MTPA) from 16.5 MTPA by adding a 13.5 lakh tonnes per annum grinding unit in Surat.

  • Citi rates Vodafone Idea as a 'High-Risk Buy' with a target price of Rs 10. The brokerage highlights that the Supreme Court's acceptance of Vodafone Idea’s latest AGR plea, combined with government backing, has increased the chances of a potential relief for the company.

  • ICICI Direct maintains its 'Buy' call on Apollo Tyres, with a target price of Rs 565 per share. This indicates a potential upside of 14.8%. The brokerage remains positive on the stock as it expects GST 2.0 reforms to increase demand in the auto sector in the near to medium term, with margins showing signs of recovery. It expects the firm's net profit to grow at a CAGR of 30.6% over FY26-27.

  • Vedanta falls as the Centre denies its request to extend the production sharing contract for the CB-OS/2 offshore oil and gas block in Gujarat’s Cambay basin. The company's subsidiary, Vedanta Cairn Oil and Gas, held a 40% stake in the block.

  • Tata Investment Corp rises as its board of directors approves a 1:10 stock split, sets record date as October 14.

  • Nomura retains a 'Buy' rating on Hyundai Motor India with a target price of Rs 2,846. The brokerage projects earnings per share (EPS) to grow at a 27% CAGR over FY26-28, supported by a strong model cycle, an increasing SUV mix, and a growing share of exports. It views the company as a major beneficiary of the changing dynamics in the Indian automotive sector.

  • Birla Corp's subsidiary, RCCPL, emerges as the preferred bidder for the 3.3 sq. km. Guda-Rampur Limestone & Manganese block in an auction held by the Telangana Government.

  • Rail Vikas Nigam emerges as the lowest bidder for a Rs 145.4 crore Southern Railway project. The contract includes building and setting up traction substations, integrating control systems, and installing automatic fault detectors across the Jolarpettai–Salem section.

  • Euro Pratik Sales' shares debut on the bourses at a 10.2% premium to the issue price of Rs 247. The Rs 451.3 crore IPO received bids for 1.3 times the total shares on offer.

  • S&P Global Ratings projects India will continue to be one of the fastest-growing economies in the Asia-Pacific region, maintaining a steady 6.5% growth rate in FY25–26. The agency highlights that robust domestic demand and sustained government-led investments are helping the country withstand mounting global trade pressures, including a sharp rise in US import tariffs.

  • Refex Industries surges more than 15% as its board of directors approves the merger of Refex Green Mobility with itself and the demerger of its green mobility business, Refex Mobility, from itself.

  • Acme Solar Holdings secures a Rs 1,100 crore loan from State Bank of India for its 300 MW renewable energy project in Rajasthan and to refinance existing debt.

  • Emkay Global Financial Services announces that veteran investor Kirti Doshi acquires a 21% stake in the company, investing Rs 227.5 crore through Antique Securities.

  • KEC International secures orders worth Rs 3,243 crore in its transmission & distribution business. The projects include 400 kV transmission lines in the United Arab Emirates (UAE) and supply of towers, hardware, and poles in the Americas.

  • Nifty 50 was trading at 25,227.65 (25.3, 0.1%), BSE Sensex was trading at 82,147.37 (-12.6, 0.0%), while the broader Nifty 500 was trading at 23,384.90 (3.5, 0.0%).

  • Market breadth is even. Of the 2,060 stocks traded today, 957 were gainers and 1,033 were losers.

Riding High:

Largecap and midcap gainers today include Au Small Finance Bank Ltd. (731.65, 3.6%), Ashok Leyland Ltd. (144.04, 3.3%) and Jindal Steel Ltd. (1,062.70, 2.9%).

Downers:

Largecap and midcap losers today include Adani Total Gas Ltd. (722.95, -7.4%), Adani Power Ltd. (162.35, -4.6%) and AWL Agri Business Ltd. (260.10, -4.1%).

Volume Rockets

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

Top high volume gainers on BSE included Tata Investment Corporation Ltd. (8,138, 11.8%), Gujarat Mineral Development Corporation Ltd. (627.40, 11.0%) and NLC India Ltd. (276.09, 4.5%).

Top high volume losers on BSE were 360 One Wam Ltd. (1,019.60, -2.9%), ZF Commercial Vehicle Control Systems India Ltd. (12,999, -2.5%) and Trent Ltd. (4,891, -2.4%).

KEC International Ltd. (883.90, 2.1%) was trading at 47.2 times of weekly average. R R Kabel Ltd. (1,292.90, 2.0%) and Gujarat State Petronet Ltd. (322.10, 2.9%) were trading with volumes 6.8 and 5.5 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

16 stocks made 52 week highs, while 3 stocks were underachievers and hit their 52 week lows.

Stocks touching their year highs included - Adani Power Ltd. (162.35, -4.6%), Ashok Leyland Ltd. (144.04, 3.3%) and Bajaj Finance Ltd. (1,025.50, 1.9%).

Stocks making new 52 weeks lows included - Praj Industries Ltd. (380.35, -0.4%) and Five-Star Business Finance Ltd. (522.85, -2.4%).

7 stocks climbed above their 200 day SMA including Gujarat State Petronet Ltd. (322.10, 2.9%) and Linde India Ltd. (6,480, 1.6%). 23 stocks slipped below their 200 SMA including AWL Agri Business Ltd. (260.10, -4.1%) and CIE Automotive India Ltd. (429.50, -3.1%).

 
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