Gift Nifty Slips, Coal India's ₹670 Billion Expansion & JSW Energy's Project Win Among Top Stock Highlights Today

Indian benchmark indices, BSE Sensex and Nifty 50, ended Tuesday’s trading session on a positive note, buoyed by strong performance in the US markets overnight. The Sensex closed 362 points higher, marking a 0.4% increase, while the NSE Nifty followed suit, climbing 105 points, also up by 0.4%.

Among the top gainers were Wipro, Bharti Airtel, and LTIMindtree, while Bajaj Finance, Bajaj Finserv, and HDFC Life emerged as the biggest losers. MidCap and SmallCap stocks outperformed, with the BSE MidCap index rising by 0.5% and the SmallCap index by 1.5%.

Sectoral performance was mixed, with power, telecom, and IT sectors seeing positive buying interest. On the contrary, oil & gas and finance sectors faced selling pressure.

Meanwhile, gold prices on the MCX were trading marginally higher at ₹71,710 per 10 grams as the market closed.

Gift Nifty Forecast

At 7:40 AM today, the Gift Nifty was trading 29 points lower at 25,087, signaling a potentially negative opening for the Indian markets.

Top Buzzing Stocks Today

Tata Power

Shares of Tata Power are set to be in the spotlight today after surging as much as 6% on September 10. The rally came after the company announced the commercial commencement of solar cell production at its subsidiary’s facility in Tirunelveli, Tamil Nadu. This move is expected to enhance India’s domestic solar manufacturing capacity, reducing reliance on imports for solar cells and modules.

ITI

ITI Limited, a public sector undertaking (PSU), saw its shares rise by nearly 9% on Tuesday, recovering from a six-day losing streak. The rally followed news of the company winning a ₹3 billion contract from the Bihar government. This significant order has fueled investor optimism, making ITI one of the top buzzing stocks of the day.

JSW Energy’s Latest Project Win

In a significant development, JSW Energy announced that its subsidiary, JSW Neo Energy, had received a Letter of Award (LoA) from the Maharashtra State Electricity Distribution Company (MSEDCL) for a 600 MW Wind-Solar Hybrid Power Project. This project will also include an additional 400 MW under the green shoe option.

This new capacity expands JSW Energy’s total locked-in generation to 18.2 GW, with 3.8 GW in hybrid energy solutions. The company is well on its way to achieving its target of a 10 GW installed generation capacity by FY25, up from its current 7.5 GW.

JSW Energy has ambitious plans to expand to 20 GW by 2030, while also increasing energy storage capacity to 40 GWh. The company aims to achieve carbon neutrality by 2050, reinforcing its commitment to renewable energy solutions.

Maruti Suzuki’s Electric Vehicle Strategy

Maruti Suzuki India (MSI) is gearing up for the electric vehicle (EV) revolution by launching a new EV with a 500-km range. Powered by a 60 Kilowatt-hour battery, the company plans to introduce several EV models in the coming years.

In a strategic move, Maruti is not only focusing on the domestic market but also planning to export these EVs to international markets like Europe and Japan, aiming to increase its export share significantly by 2030.

The automaker is also exploring multiple technologies to reduce carbon emissions. Along with EVs and strong hybrids, Maruti is looking into biofuels and hydrogen-powered vehicles to help reduce the country’s oil consumption and CO2 emissions.

Coal India’s ₹670 Billion Expansion Plan

State-owned Coal India Ltd. has unveiled a massive ₹670 billion (approximately $8 billion) investment plan to build coal-fired power plants near its mining sites. These power plants, with a total capacity of 4.7 gigawatts, will be constructed over the next 6 to 7 years, with most of the facilities located in Odisha, India.

This expansion plan reflects India’s ongoing dependence on coal as a primary source of energy. With electricity demand projected to soar, coal will remain a critical part of the country’s energy mix for at least the next three decades, despite India’s goal of achieving net-zero emissions by 2070.

In addition to coal, the company is also exploring renewable energy options and looking to venture into mining critical minerals to support India’s energy transition goals. The placement of power plants near mining sites will help reduce transport costs, making coal-based electricity more cost-effective.

Final Thoughts

Indian equity markets are riding a wave of optimism fueled by positive global cues and domestic growth prospects. While sectors like power and telecom are gaining investor confidence, traditional sectors like oil and finance are facing challenges. Key corporate developments, such as Tata Power’s solar cell production, ITI’s government contract win, and JSW Energy’s new project award, reflect the evolving landscape of India’s energy and infrastructure sectors.

Meanwhile, companies like Maruti Suzuki and Coal India are strategically positioning themselves to navigate the transition toward cleaner energy solutions, even as the demand for fossil fuels remains significant.

Stay tuned for more updates as these stocks continue to shape the market narrative.