Indian Equities Poised for Third Day Gains; Vi, HUL, JSW Steel in Focus Today

Indian equity markets are set to extend their winning streak for a third consecutive day, with benchmark indices eyeing their highest levels for the year. This optimistic outlook comes despite mixed signals from global markets and nuanced geopolitical developments.

As of 7:45 AM, the GIFT NIFTY, a key early indicator of the Nifty50's performance, was up 42 points, or 0.16%, at 25,293, suggesting a positive opening for domestic bourses.

Global markets, however, presented a mixed picture. Asian stocks wavered, taking cues from a flat close on Wall Street. Japan's Nikkei was up 1.1%, while South Korea's Kospi was down 1.65% at last check. In the US, benchmark indices closed muted, with the S&P 500 flat and the Dow Jones Industrial Average down 0.25%, even as they neared record highs. Traders are also parsing mixed comments from the US President regarding the Israel-Iran conflict, with an initial declaration of an end to the war followed by a warning of potential new fighting and news of an upcoming meeting with Iran next week.

Domestically, Wednesday saw a strong performance, with the BSE Sensex closing 700.40 points (0.85%) higher at 82,755.51, and the Nifty50 rising 200.4 points (0.80%) to finish at 25,244.75. Interestingly, Foreign Institutional Investors (FIIs) remained net sellers, offloading shares worth ₹2,427.74 crore, while Domestic Institutional Investors (DIIs) provided crucial support, net buying equities worth ₹2,372.96 crore.

Here are the key stocks to watch in today's trading session:

Telecom & Infrastructure:

♦ Vodafone Idea (Vi): The telecom major is reportedly in talks with lenders to secure approximately $2.9 billion in loans. This significant funding aims to bolster its network infrastructure and enhance its competitive edge against larger rivals. State Bank of India is expected to lead a consortium of lenders, with the debt likely comprising a mix of domestic and foreign loans with a 10-year tenor.

♦ Jio Financial Services: The company has infused ₹190 crore into its wholly-owned subsidiary, Jio Payments Bank Ltd, by subscribing to 190,000,000 equity shares at ₹10 each.

♦ Texmaco Rail: The company has secured a ₹535 crore order from CAMALCO SA for 560 wagons and 20 years of maintenance. The deal also includes the potential for an additional 1,040 wagons over the next five years.

♦ Dilip Buildcon: The company has provisionally completed the Bangalore-Chennai Expressway project (Km 127–156) in Andhra Pradesh, part of the Bharatmala program. Commercial operations commenced from May 09, 2025, following the Provisional Completion Certificate.

Manufacturing & Industry:

♦ JSW Steel: The steel giant has filed a petition seeking a review of the Supreme Court's (SC) order that rejected its resolution plan for the debt-laden Bhushan Power and Steel (BPSL). Lenders, including SBI and PNB, have also filed similar review petitions.

♦ JSW Energy: Its subsidiary, Energizent Power, has inked a 25-year Power Purchase Agreement (PPA) with NHPC for 300 MW ISTS-connected solar-wind hybrid capacity at ₹3.49/KWh. The project, spanning Rajasthan and Andhra Pradesh, is set for commissioning within 24 months.

♦ Ceat: The tyre manufacturer plans to raise up to ₹500 crore through the issuance of unsecured non-convertible debentures (NCDs) via a private placement. The company's Finance and Banking Committee approved this proposal on June 25.

♦ ASK Automotive: The company's board has given the nod for a joint venture with T.D. Holding GMBH to manufacture and market sunroof and helix cables. ASK Automotive will hold a 49% stake in the JV, investing up to ₹2.45 crore.

♦ Rashtriya Chemicals and Fertilisers (RCF): RCF's request for recognition of EPMC/spot gas used in Urea production for 2021–23 has been rejected by the DoF, resulting in an estimated impact of $204.14 crore. The company is seeking reconsideration.

♦ Coal India: The state-owned firm saw its coking coal production drop by 8.7% to 4.53 million tonnes in May, despite the government's efforts to boost output and reduce import dependency.

FMCG & Consumer:

♦ Hindustan Unilever (HUL): Magnum Ice Cream Company HoldCo 1 Netherlands B.V. has agreed to acquire a 61.9% stake in Kwality Wall’s (India) (KWI) from the Unilever Group. Magnum HoldCo will be required to make an open offer to KWI's public shareholders for additional shares.

Financial Services & Fintech:

♦ BSE: The securities market regulator has imposed a ₹25 lakh penalty on BSE for violations of Regulation 39(3) and related circulars between February 2021 and September 2022. BSE stated that this would have no material impact on its operations or finances.

♦ PB Fintech: Reports suggest that co-founders Yashish Dahiya and Alok Bansal might offload 5.05 million shares, or an 1.1% stake, at ₹1,800 apiece. The total transaction is valued at ₹912 crore.

♦ Union Bank of India: The state-owned lender plans to raise ₹6,000 crore through a mix of equity and debt to fuel its business growth. The board has approved raising equity capital not exceeding Rs 3,000 crore in tranches via a public issue.

Pharmaceuticals & Technology:

♦ Sun Pharmaceutical: The pharma major's European partner, Philogen S.p.A, has voluntarily withdrawn its marketing authorization application for its investigational skin cancer therapy Nidlegy in the European Union (EU).

♦ Tejas Networks: The Tata Group company and Rakuten Symphony have announced a strategic partnership to develop integrated Open RAN solutions and collaborate on joint go-to-market efforts both in India and internationally. This collaboration will involve integrating Rakuten Symphony’s CU and DU software, OSS, and cloud portfolio.