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Trendlyne Marketwatch
29 Sep 2025, 04:08PM
Market closes flat, E2E Networks approves Rs 1,000 crore QIP
By Trendlyne Analysis

 

Nifty 50 closed at 24,634.90 (-19.8, -0.1%) , BSE Sensex closed at 80,364.94 (-61.5, -0.1%) while the broader Nifty 500 closed at 22,739.10 (26.0, 0.1%). Market breadth is in the red. Of the 2,582 stocks traded today, 1,065 showed gains, and 1,469 showed losses.

Indian indices closed flat after switching between losses and gains throughout the day. The Indian volatility index, Nifty VIX, fell 0.5% and closed at 11.4 points. NTPC rose 0.9% after its board of directors approved an investment of Rs 2,444.4 crore in its subsidiary to set up three hydro projects and one solar project.

Nifty Smallcap 100 closed flat, while Nifty Midcap 100 closed higher. Nifty India Defence and Nifty Media were among the top index losers today. According to Trendlyne’s sector dashboard, Forest Materials emerged as the worst-performing sector of the day, with a fall of 2.1%.

Asian indices closed mixed. European indices are trading in the green, except for Spain’s IBEX 35. US index futures are trading higher, indicating a positive start to the trading session. Investors are awaiting a key jobs report later this week. Brent crude futures are trading lower on speculation that the Organization of Petroleum Exporting Countries and allies may consider another output hike in November.

  • Money flow index (MFI) indicates that stocks like Usha Martin, Anant Raj, Tata Investment Corp, and NLC are in the overbought zone.

  • Premier Energies bags two orders worth $20 million (~ Rs 177 crore) to supply and install solar power systems in the Republic of Benin, West Africa. According to the contract, the company will install 750 rooftop solar systems, 4,400 high efficiency solar streetlights, and 650 solar water heaters.

  • Power Grid Corporation of India’s board approves Rs 705.5 crore capital expenditure for two projects. This includes Rs 209.7 crore for a VOIP communication system across five regions and Rs 495.8 crore for a disaster preparedness project to procure 20 Emergency Restoration System (ERS) sets, covering 300 towers, under Make in India.

  • Tata Motors receives National Company Law Tribunal (NCLT) approval for demerger of commercial and passenger vehicle businesses, effective October 1. The company appoints Shailesh Chandra as MD & CEO of the passenger vehicle (PV) and electric vehicle (EV) business, and Girish Wagh as MD & CEO of the commercial vehicle (CV) unit.

  • Pharma stocks like Sun Pharma, Lupin, and Cipla gain as US tariff concerns ease. Analysts believe the impact is limited, as India primarily exports generic drugs, which are exempt from tariffs. Jefferies flags Sun Pharma and Biocon as the most exposed but expects minimal impact on generic exports and Indian CRDMO supplies, though further clarity on the tariff structure is awaited.

  • E2E Networks' board of directors approves raising Rs 1,000 crore through the qualified institutional placement (QIP) of equity shares and other securities.

  • Reliance Power is rising as it plans to sell its entire stake in five Indonesian coal entities to Singapore-based Biotruster for $12 million (around Rs 106.5 crore).

  • Godrej Agrovet signs a memorandum of understanding (MoU) with the Ministry of Food Processing Industries (MoFPI) to set up manufacturing facilities and R&D centres with a capex of Rs 960 crore.

  • Nuvama maintains a 'Buy' rating on Jindal Steel & Power with a higher target price of Rs 1,426. The brokerage highlights strong volume growth visibility, and improving debt metrics as key factors positioning Jindal Steel as a compelling long-term investment. Nuvama expects steel prices to recover from November 2025, supported by the recently imposed three-year safeguard duty on flat steel imports and the end of the monsoon season.

  • Bharat Electronics (BEL) is rising as the Indian Army issues a tender worth nearly Rs 30,000 crore for indigenously developed surface-to-air missile systems. The army plans to acquire five to six regiments, with BEL designated as the lead integrator.

  • Lemon Tree Hotels' board of directors approves the appointment of Neelendra Singh as the Managing Director for five years, effective October 1.

  • Indian Railways Finance Corp rises as it sanctions loans worth Rs 20,028.5 crore, including Rs 12,640 crore to Chhattisgarh State Power Generation Co for a thermal power project, Rs 3,388.5 crore to NTPC’s Patratu Vidyut Utpadan Nigam, and Rs 4,000 crore to Talcher Fertilisers.

  • Wockhardt rises over 8% following a clarification that US President Trump's new tariffs on branded pharma imports won’t apply to countries with trade agreements, a relief for the EU and Japan. This benefits Wockhardt, which has manufacturing facilities in Europe, including its acquisition of French firm Negma and a plant in North Wales, UK.

  • SKF India is rising as it receives approval from the National Company Law Tribunal (NCLT) to demerge its industrial business to arm, SKF India (Industrial).

  • Ganesh Consumer Products' shares debut on the bourses at an 8.1% discount to the issue price of Rs 322. The Rs 408.8 crore IPO received bids for 2.7 times the total shares on offer.

  • Atlanta Electricals' shares debut on the bourses at a 13.7% premium to the issue price of Rs 754. The Rs 687.3 crore IPO received bids for 70.6 times the total shares on offer.

  • PL Capital maintains an 'Accumulate' rating on Tata Steel with a higher target price of Rs 181. The company's management has reiterated its goal of reaching 40 mtpa capacity within the next five years. The brokerage notes that the Kalinganagar Phase-II (KPO-II) expansion remains on track, with the cold rolling mill (CRM) and finishing lines scheduled for commissioning in Q2FY26, contributing to volume growth over two years.

  • Ceigall India is rising as its joint venture bags a Rs 509.2 crore order from the Greater Mohali Area Development Authority (GMADA) for an infrastructure development project. The project includes constructing internal roads and associated civil, public health, and electrical works in Aerotropolis, Mohali.

  • PG Electroplast's wholly-owned subsidiary, PG Technoplast, acquires a 50-acre land parcel in Sri City, Andhra Pradesh. The company plans to invest Rs 1,000 crore over five years to develop a manufacturing campus to strengthen its manufacturing footprint and support export opportunities.

  • Interarch Building Solutions rises as it plans to add a 25,000 MT plant in Andhra Pradesh with a capex of Rs 100 crore.

  • JM Financial initiates coverage on Vishal Mega Mart with a 'Buy' rating and a target price of Rs 175. The brokerage sees potential gains in market share, especially in Tier 2 cities and smaller towns. Organised retail is expected to grow at ~20% CAGR, reaching a 30–32% market share by CY28, driven by better products at affordable prices, improved customer experience, and increased investment in retail infrastructure.

  • Lupin is rising as its wholly-owned subsidiary, Nanomi B.V., plans to acquire Amsterdam-based specialty pharmaceutical company VISUfarma B.V. for €190 million (around Rs 1,977 crore). The acquisition expands its European presence and strengthens its global specialty franchise.

  • Azad Engineering is rising as it signs a $73.5 million (around Rs 651 crore) long-term contract with Mitsubishi Heavy Industries, Japan. The contract includes the supply of advanced rotating and stationary airfoils for gas and thermal power turbine engines.

  • NTPC rises as its board of directors approves investing Rs 2,444.4 crore in its subsidiary, North Eastern Electric Power Corp, to set up three hydro projects and one solar project. The board also forms a joint venture (JV), Aravali Power, with Haryana Power Generation Corp (HPGCL) and Indraprastha Power Generation (IPGCL) to set up a 1,200 tonnes per day (TPD) Municipal Solid Waste (MSW) to Torrefied Charcoal Facility at Faridabad.

  • Dixon Technologies enters an agreement with Kunshan Q Tech Microelectronics (Q Tech India) to acquire a 51% stake for a cash consideration of Rs 553 crore.

  • Nifty 50 was trading at 24,673.70 (19, 0.1%), BSE Sensex was trading at 80,588.77 (162.3, 0.2%) while the broader Nifty 500 was trading at 22,738.30 (25.2, 0.1%).

  • Market breadth is even. Of the 2,121 stocks traded today, 1,000 were in the positive territory and 1,032 were negative.

Riding High:

Largecap and midcap gainers today include Hindustan Petroleum Corporation Ltd. (441.75, 4.6%), Petronet LNG Ltd. (278.55, 4.4%) and Bharat Petroleum Corporation Ltd. (338.10, 4.2%).

Downers:

Largecap and midcap losers today include Jindal Stainless Ltd. (737.70, -6.5%), Dixon Technologies (India) Ltd. (16,678, -4.8%) and Ipca Laboratories Ltd. (1,317, -4.0%).

Volume Shockers

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

Top high volume gainers on BSE included Wockhardt Ltd. (1,564.40, 17.1%), Sammaan Capital Ltd. (154.27, 11.9%) and Redington Ltd. (291.24, 10.0%).

Top high volume losers on BSE were Firstsource Solutions Ltd. (326.35, -7.2%), Dixon Technologies (India) Ltd. (16,678, -4.8%) and Supreme Petrochem Ltd. (843.25, -3.1%).

Westlife Foodworld Ltd. (696.55, 1.9%) was trading at 22.1 times of weekly average. InterGlobe Aviation Ltd. (5,707, 2.6%) and Hero MotoCorp Ltd. (5,300.50, -0.5%) were trading with volumes 21.1 and 14.2 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

5 stocks took off, crossing 52 week highs, while 6 stocks were underachievers and hit their 52 week lows.

Stocks touching their year highs included - Indian Bank (724.60, 2.6%), Tata Investment Corporation Ltd. (8,843, 2.0%) and RBL Bank Ltd. (277.80, 2%).

Stocks making new 52 weeks lows included - L&T Technology Services Ltd. (3,987.10, -1.8%) and Praj Industries Ltd. (341.45, -2.0%).

23 stocks climbed above their 200 day SMA including Wockhardt Ltd. (1,564.40, 17.1%) and Mangalore Refinery And Petrochemicals Ltd. (134.11, 5.3%). 33 stocks slipped below their 200 SMA including Finolex Industries Ltd. (200.78, -3.6%) and Zensar Technologies Ltd. (749.55, -3.2%).

 
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