Market Highlights: Gift Nifty Flat, Century Textiles’ JV, HAL’s Surge, and Top Buzzing Stocks Today

Indian share markets maintained their upward momentum, ending Thursday’s session on a strong note as investors eyed the continuation of Modi's government. The BSE Sensex climbed by 693 points, marking a 0.9% increase, while the NSE Nifty rose by 231 points, up 1%. Major gainers included HCL Tech, Tech Mahindra, and SBI, whereas Hindalco, HUL, and M&M were among the top losers. MidCap and SmallCap indices also performed well, gaining 2.3% and 3% respectively.

Gift Nifty and Market Outlook

At 8:00 AM on Friday, the Gift Nifty was trading down by 4 points at 22,914 levels, indicating a potentially muted start for the Indian markets.

Top Buzzing Stocks Today

Amara Raja Energy and Mobility saw its shares surge another 10% to a fresh all-time high of ₹1,333, driven by investor optimism following the Telugu Desam Party’s significant victory in local elections. This political win has positioned the party as a major player in national politics.

Kalpataru Projects International Limited (KPIL) also experienced a substantial rise, with shares rallying 6.5% to an intraday high of ₹1,177.5. The surge followed the company’s announcement of a board meeting scheduled for June 10 to approve the issuance of Non-Convertible Debentures (NCDs) on a private placement basis.

Why HAL Share Price is Rising

Hindustan Aeronautics Limited (HAL) shares soared by 8.9% after the inauguration of advanced Propellant Tank Production and CNC Machining facilities at HAL’s Aerospace Division by ISRO Chairman S Somanath. These facilities are set to support the LVM3 program, which aims to increase the frequency of launches from two to six annually. This expansion is expected to accelerate ISRO’s human spaceflight missions and the development of Next-Generation Launch Vehicles (NGLV).

Century Textiles’ Arm Forms JV

Century Textiles shares jumped 12.8% to ₹2,076.7 following the announcement of a joint venture between its wholly-owned subsidiary, Birla Estates Private Ltd, and Barmalt India Pvt Ltd for a luxury residential project in Gurugram. The development, spanning 13.27 acres, has a potential of approximately 2.4 million square feet and is expected to generate revenue of around ₹50 billion. This project will benefit from its proximity to key commercial hubs and connectivity via NH-48 and the metro line.

NBCC’s New Order Win

Navratna PSU NBCC saw an 8% rise in its share price after securing a series of government and private sector orders worth close to ₹5 billion. Among these, the largest order, valued at ₹1.3 billion, is for constructing residences on a government plot in New Delhi. NBCC has also been tasked with building a multi-facility healthcare complex in Mumbai for ₹1.1 billion. Additionally, NBCC is planning to establish its own non-banking finance company (NBFC) later this year to reduce borrowing costs for key infrastructure projects.

In Conclusion, The Indian stock markets continue to display robust performance, buoyed by significant developments across various sectors. Companies like HAL, Century Textiles, and NBCC are making headlines with their strategic expansions and new ventures. As political and economic landscapes evolve, investors remain optimistic about future growth opportunities in the Indian market.