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Trendlyne Marketwatch
23 Dec 2025, 12:58PM
Market trades flat, L&T's onshore arm secures a Rs 5,000-10,000 crore order from BPCL
By Trendlyne Analysis

 

Nifty 50 opens higher, after gaining 32.8 points in the pre-opening session. Indian indices closed in the green on Monday. FIIs sold shares worth Rs 457.3 crore, while DIIs bought Rs 4,058.2 crore in Indian equities on the same day.

Nifty Midcap 100 and Nifty Smallcap 100 open higher, tracking the benchmark index. Nifty Media and Nifty Private Bank open in the green, tracking the benchmark index. Nifty IT opens lower, despite the tech-heavy Nasdaq 100 index, closing 0.5% higher on Monday.

Major European indices closed lower on Monday, except Russia’s RTSI index, which closed higher. Major Asian indices are trading in the green, except Indonesia’s IDX Composite and Malaysia’s KLCI indices, which are trading in the red. US indices closed higher on Monday, with the Dow Jones and S&P 500 closing 0.5% and 0.6% in the green, respectively, buoyed by a rebound in IT stocks.

  • Welspun Corp is rising as it acquires 2.7 crore shares (4.1% stake) in its subsidiary, Welspun Specialty Solutions, from its promoters, MGN Agro Properties and Welspun Group Master Trust, for Rs 109 crore.

  • Metal stocks like NMDC, Hindustan Copper, and SAIL are rising, helped by a favourable global macro backdrop. Broad-based buying across ferrous and non-ferrous counters, coupled with incremental Chinese policy support for infrastructure has improved demand visibility for steel, copper, aluminium, and zinc. Tight base metal inventories have further limited downside risks despite uneven global growth.

  • Granules India’s board approves raising Rs 300 crore through the preferential issue of 51.3 lakh shares at Rs 585 per share, which will be allotted to investors across non-promoter categories.

  • Belrise Industries is rising sharply as its promoter group reportedly sells 5.8 crore shares (6.6% stake) for Rs 897 crore through a block deal.

  • Shakti Pumps (India) surges as it secures an order worth Rs 356.8 crore from Maharashtra State Electricity Distribution Co (MSEDCL) to supply and install 12,883 off-grid solar photovoltaic water pumps.

  • Morgan Stanley initiates coverage on Pine Labs with a target price of Rs 260. The brokerage highlights the company’s leadership in merchant payments and commerce solutions. It projects a 19% revenue CAGR through FY28, with EBIT margins expanding to ~20%, helped by its asset-light model and strong ecosystem partnerships. It also flags risks from execution challenges, rising competition, and potential regulatory changes in India’s digital payments space.

  • Larsen & Toubro's subsidiary, L&T Onshore, secures an order worth Rs 5,000-10,000 crore from Bharat Petroleum Corp. L&T will construct and commission a linear low-/high-density polyethylene (LLDPE/HDPE) swing unit comprising two trains of 575 KTPA each, at Bina in Madhya Pradesh.

  • Puravankara surges over 10% as it acquires a 53.5-acre land parcel in Anekal Taluk, Bengaluru, with a 6.4 million sq. ft. development area and a revenue potential of Rs 4,800 crore.

  • KSH International's shares debut on the bourses at a 3.6% discount to the issue price of Rs 384. The Rs 710 crore IPO received bids for 0.8 times the total shares on offer.

  • Ambuja Cements rises over 2% as its board approves a merger with group companies ACC and Orient Cement to streamline the Adani Group’s cement business. Under the swap, ACC shareholders will receive 328 Ambuja shares for every 100 shares held, while Orient Cement shareholders will get 33 Ambuja shares per 100 shares. The transaction is expected to be completed within a year.

  • Azim Premji's Prazim Trading and Investment acquires 5.1 crore shares (2.6% stake) in National Highways Infra Trust for Rs 754.2 crore at an average price of Rs 149.1 per share through a bulk deal.

  • Sanghvi Movers is rising sharply as its subsidiary, Sangreen Future Renewables, bags orders worth Rs 428.7 crore from independent power producers (IPPs) for civil works of 270.6 MW of wind projects.

  • Prestige Estates Projects acquires a 25-acre land parcel in Medavakkam, Chennai, with a 5 million sq. ft. development area and a revenue potential of Rs 5,000 crore.

  • Saatvik Green Energy surges as its subsidiary, Saatvik Solar Industries, receives an order worth Rs 486 crore from an Independent power producer (IPP) to supply solar PV modules.

  • Nifty 50 was trading at 26,159.05 (-13.4, -0.1%), BSE Sensex was trading at 85,690.10 (122.6, 0.1%), while the broader Nifty 500 was trading at 23,859.15 (-8.5, 0.0%).

  • Market breadth is in the green. Of the 2,090 stocks traded today, 1,139 were in the positive territory and 868 were negative.

Riding High:

Largecap and midcap gainers today include Cholamandalam Investment & Finance Company Ltd. (1,658.90, 4.7%), Ambuja Cements Ltd. (556, 3.0%) and Mahindra & Mahindra Financial Services Ltd. (405.30, 2.8%).

Downers:

Largecap and midcap losers today include Coforge Ltd. (1,780.40, -4.7%), Infosys Ltd. (1,665.10, -1.5%) and Coromandel International Ltd. (2,363.50, -1.3%).

BSE 500: highs, lows and moving averages

11 stocks overperformed with 52 week highs,

Stocks touching their year highs included - Eicher Motors Ltd. (7,300, 0.1%), Hindustan Copper Ltd. (409.60, 1.5%) and Hindustan Zinc Ltd. (610.40, 0.6%).

14 stocks climbed above their 200 day SMA including Ambuja Cements Ltd. (556, 3.0%) and Coal India Ltd. (391.70, 1.4%). 2 stocks slipped below their 200 SMA including Hexaware Technologies Ltd. (739.35, -0.9%) and Astral Ltd. (1,403.80, -0.3%).

 
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