GIFT Nifty Opening Update
GIFT Nifty opened today at 24,044.00. It is up 101.50 points (0.42%) from yesterday’s close of 24,048.50— so the trend is positive.
Indian equity benchmarks concluded in negative territory on Friday, 19 June, marking the end of a five-session rally as significant selling pressure in information technology stocks adversely impacted market sentiment. The Sensex declined by 607.08 points, representing a decrease of 0.78%, concluding at 76,802.90. Meanwhile, the Nifty 50 experienced a drop of 154.90 points, equivalent to a 0.64% fall, ending at 24,013.10. However, the market is likely to open in positive territory as trends in the Gift Nifty index signalled a favourable opening on Monday, 22 June. Gift Nifty was positioned around the 24,154 level, reflecting a decline of more than 97 points from the prior closing of Nifty futures.
Indian equity markets are expected to commence with a degree of caution, as the initial optimism regarding a possible US–Iran peace agreement has been moderated by reports indicating a challenging beginning to the negotiations. Concerns emerged after reports indicated that an Iranian delegation walked out of the talks following recent threats from U.S. President Donald Trump, casting doubt on the pace and durability of the proposed agreement. Nevertheless, negotiations are reportedly continuing through mediators, suggesting that diplomatic efforts remain on track despite the initial setback’, stated Ponmudi R.
As the market indicates a favourable opening, certain stocks are expected to attract attention on Monday owing to their specific positive or negative catalysts.
Equities to Monitor:
- Sun Pharmaceutical Industries Ltd, the largest pharmaceutical company in India, has reached an agreement to acquire Innovcare Lifesciences Private Ltd, based in Mumbai, for around $28.7 million ( Rs 271.2 crore) in an all-cash transaction. This move is intended to enhance and diversify its product portfolio.
- Reliance Industries – Jio Platforms, the telecommunications division of Reliance Industries Ltd., presented its draft red herring prospectus (DRHP) to the Securities and Exchange Board of India (SEBI) on Friday, June 19. The proposed IPO will consist of a fresh issuance of 27 crore equity shares.
- Bharat Forge – Auto components manufacturer Bharat Forge Ltd announced that it has secured a 425 crore contract from the Ministry of Defence to supply Gas Turbine Generators (GTGs) for onboard power generation on the Indian Navy’s Kolkata-class warships.
- RVNL has obtained a Letter of Award from the state-owned NMDC for the establishment of buffer stockyards and a blending facility in Visakhapatnam, Andhra Pradesh, designed to handle an annual material capacity of 10 million tonnes (MTPA).
- Tata Motors Commercial Vehicle has received over 3,400 orders for electric commercial vehicles (eCVs) across various categories, highlighting a significant milestone in the broader acceptance of electric mobility for cargo and passenger transport in India. The order book comprises nearly 2,000 small commercial vehicles (SCVs) and pick-ups, approximately 900 trucks, and around 500 buses.
- Garden Reach Shipbuilders & Engineers has been awarded Navratna status by the Department of Public Enterprises under the Ministry of Finance, marking a notable milestone that bolsters the operational and financial independence of the defence public sector undertaking.
- Nestle India’s Board of Directors is set to convene on July 3 to deliberate on the proposal for a special dividend for 2026, if applicable. Additionally, July 10 has been established as the record date to ascertain which shareholders are entitled to receive the final dividend, along with any special dividend for FY2025-26.
- Alembic Pharma announced on Friday that it has obtained tentative approval from the US Food and Drug Administration (USFDA) for its generic version of Binimetinib tablets, a drug utilised in cancer treatment.
- Power Mech Projects has secured a contract valued at Rs 1,008.9 crore from JSW Thermal Energy for executing civil and structural works in the Boiler, Turbine and Generator (BTG) segment of a 2×800 MW thermal power plant being developed at Salboni in West Bengal.
- Kirloskar Oil Engines has secured a significant order from HyperNext, a digital infrastructure firm that focuses on hyperscale-ready, AI-powered data center solutions. The order encompasses the provision of 96 units of Kirloskar Oil Engines’ 2,500 kVA Optiprime Dual Core Power Systems, amounting to a cumulative power capacity of 192 MW.