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Trendlyne Marketwatch
23 Dec 2025, 03:27PM
Market trades higher, Coal India reportedly plans Rs 1,300 crore IPO of arm, BCCL
By Trendlyne Analysis

 

Nifty 50 was trading at 26,191.20 (18.8, 0.1%), BSE Sensex was trading at 85,570.10 (2.6, 0%) while the broader Nifty 500 was trading at 23,899.80 (32.2, 0.1%). Market breadth is in the green. Of the 2,571 stocks traded today, 1,479 were gainers and 1,037 were losers.

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.

  • Canara HSBC Life Insurance Co rises sharply after Investec initiates coverage with a Buy rating and a target price of Rs 225, implying a 69% upside. The brokerage cites strong premium growth and expects gains from HSBC’s plan to double its branch network and expand distribution.

  • Soma Papers & Industries surges to its 5% upper limit as its wholly-owned subsidiary, KS Smart Solutions, receives an order worth Rs 172.7 crore from the School Education Department, Government of Punjab. The order involves supplying and setting up computers and power backup systems in government schools.

  • Shailesh Chandra, MD & CEO of Tata Motors Passenger Vehicles, expects industry-wide EV volumes to reach 2 lakh units annually this year. He highlights TMPV's plans to launch five new EV models by FY30, including the Sierra EV and Punch EV in CY26, and add another three nameplates during FY27-30.

  • HFCL is rising sharply as its board of directors approves the qualified institutional placement (QIP) of equity shares at an issue price of Rs 65.8 per share.

  • Coal India is rising as it reportedly plans an initial public offering (IPO) worth Rs 1,300 crore of its arm, Bharat Coking Coal (BCCL), within the next two weeks. The proposed IPO is expected to be an offer-for-sale, with Coal India offloading a 10% stake.

  • Vardhman Special Steels plans to invest Rs 475 crore to set up a steel forging and machining facility in Ludhiana, enabling the company to expand beyond steelmaking into forged components.

  • PL Capital upgrades Aarti Industries to an 'Accumulate' rating with a target price of Rs 403. The brokerage says the company is transitioning from contract manufacturing to a partnership-led, innovation-driven platform, helped by collaborations across agrochemicals, polymers, energy and advanced materials. Its focus on differentiated chemistries and application-led solutions reduces dependence on China and strengthens its long-term positioning.

  • Motilal Oswal retains its 'Buy' call on Shriram Finance, with a target price of Rs 1,100 per share. This indicates a potential upside of 15.1%. The brokerage believes that MUFG's entry into the company de-risks its growth trajectory, expands its ability to serve a broader customer base across the commercial vehicle, micro, small & medium enterprises (MSME), and retail segments. It expects the firm to deliver an AUM CAGR of 18% over FY26-28.

  • Lloyds Enterprises falls sharply after its board approves the restructuring of its realty business. The company plans to merge Lloyds Realty Developers with Indrajit Properties. Post-merger, the realty business will be demerged into a new entity, Lloyds Realty, aimed at strengthening the balance sheet.

  • 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. (1,693.40, 6.9%), Indian Railway Finance Corporation Ltd. (122.46, 4.7%) and NMDC Ltd. (81.64, 4.0%).

Downers:

Largecap and midcap losers today include Coforge Ltd. (1,785.40, -4.5%), Mahindra & Mahindra Financial Services Ltd. (383.90, -2.6%) and Schaeffler India Ltd. (3,817.50, -2.2%).

Volume Rockets

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

Top high volume gainers on BSE included Jupiter Wagons Ltd. (352.50, 13.5%), Ircon International Ltd. (171.80, 9.6%) and IFCI Ltd. (53.55, 8.4%).

Top high volume loser on BSE was ACC Ltd. (1,759, -1.3%).

Rites Ltd. (246.40, 5.9%) was trading at 17.0 times of weekly average. Alok Industries Ltd. (16.95, 5.7%) and RailTel Corporation of India Ltd. (366, 7.1%) were trading with volumes 16.1 and 8.4 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

15 stocks made 52 week highs, while 1 stock hit their 52 week lows.

Stocks touching their year highs included - Bharat Forge Ltd. (1,463.60, 0.5%), City Union Bank Ltd. (287.95, 1.7%) and Eicher Motors Ltd. (7,315.50, 0.3%).

Stock making new 52 weeks lows included - ACC Ltd. (1759, -1.3%).

24 stocks climbed above their 200 day SMA including Jupiter Wagons Ltd. (352.50, 13.5%) and Ircon International Ltd. (171.80, 9.6%). 8 stocks slipped below their 200 SMA including Schaeffler India Ltd. (3,817.50, -2.2%) and Medplus Health Services Ltd. (808.90, -2.0%).

 
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