Market Morning Notes For 23rd June 2025

Market Commentary

Global markets – US indices closed mixed on Friday after US President unveiled nuclear deal with Tehran amid Fed’s policy outlooks. Dow Jones closed higher by 0.1 pct. While Nasdaq dipped by 0.5 pct.

Commodities – Gold prices edged up at USD 3,364 amid worries over the Middle East conflict. Oil prices surged and stood at USD 78.52/bbl as US joins Israel-Iran war.

Asian markets – Asian markets trading lower in the early morning trade. Hang Seng trading lower by 0.3 pct. While Nikkei trading lower by 0.5 pct.

Indian Indices – India’s equity benchmarks are likely to start lower as GIFT Nifty indicates. Benchmark indices closed in green on Friday, led by financials after RBI eased project financing rules.

Stocks to watch

Positive Read through

• It Stocks – Accenture beat Q3 sales estimates, guided 6–7 pct growth, 10 bps margin expansion.
• ONGC/Oil – Crude rose above 2 pct after US strikes in Iran, Brent edged above USD 78/bbl.
• NTPC – Commissioned 2^nd and last part capacity of Nokh solar PV project in Rajasthan.
• SFBs – RBI cut required priority sector net credit exposure to 60 pct from 75 pct.
• Godrej Prop – Sold homes for Rs. 20,000 mn at launch of MSR City project in Bengaluru.
• Bel – Bagged orders for Rs. 5,850 mn since June 5, 2025.
• India Cements – Decided to sell entire investment in ICML for Rs. 980 mn to Mirai Sensing.
• Brigade – Launched Morgan Heights, residential project for GDV at Rs. 21,000 mn.
• Waaree Re – Order value for 2012.47 MWp solar project revised up by Rs. 2,469.2 mn.
• Bajel Projects – Bagged ultra mega power transmission order worth over Rs. 4,000 mn.
• NLC India – Got LOA from TN Green Energy for 3 battery energy storage systems on BOO basis.
• ZEN Tech – Decided to acquire majority stake in UAV maker Tisa Aerospace for Rs. 656 mn.
• Lloyds Metals – Commissioned 4 MTPA pellet plant, along with 85 km slurry pipeline.
• EMS – Declared lowest bidder for a project worth Rs. 1,040 mn from UP Jal Nigam (urban).
• Interarch – Bagged order worth Rs. 800 mn from Ather Energy.
• Yes Bank – Received Rs. 2,010 mn one-time settlement amount from an NPA.
• Emcure Pharma – Decided to acquire remaining stake in its subsidiary Zuventus Healthcare.
• Embassy Dvpt – Signed joint agreement for 17.9 acres land in Bengaluru, GDV at Rs. 16,000 mn.
• HG Infra – Got LOI from PFC Consulting to set up inter-state transmission system in Odisha.

Negative Read through

• HDFC Bk/ICICI Bk/Axis Bk – Odisha government removed them from its list of empanelled banks.
• OMCs/Paint Cos – Crude rose above 2 pct after US strikes in Iran, Brent moved above USD 78/bbl.
• LT Foods – US imposed duty of 340.7 pct on arm’s organic soybean meal exports.
• Unichem – US FDA issued 3 observations for company’s Roha API facility.
• Metropolis/Dr Lal – Amazon India launched an at-home diagnostics service via its app.

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