Stock Market News Today Live Updates: Nifty, Sensex Swing As Losses In Infosys, RIL Outweigh Gains In HDFC Bank, L&T

• The India Meteorological Department said the southwest monsoon has remained stalled over parts of Maharashtra due to the absence of favourable large-scale weather conditions.
• IMD said the monsoon advanced over parts of South Konkan and adjoining South Madhya Maharashtra on June 8.
• It said rainfall activity over the Konkan belt may increase around June 24–25, and conditions are being monitored.

• ICICI Prudential Mutual Fund sold a 2% stake in Kalpataru Projects International through open market transactions between Dec. 10, 2021 and June 16, 2026.
• The disclosure was made in an exchange filing.

• Wockhardt is in focus after the USFDA approved an oral carbapenem, making a strong IV antibiotic available in tablet form for the first time.
• The treatment is used in the same complicated UTI segment where Wockhardt’s Zaynich operates. Patients may shift from hospital-based injections to at-home oral treatment, reducing the need for IV antibiotics.
• The update may add mild competitive pressure on Zaynich, though severe cases will still require injectable treatments.

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• India’s peak power demand eased to 241 GW as of June 16, down from the record high of 270.8 GW last month and 259 GW on June 9.
• Average spot power price fell 18% year-on-year to Rs 3.6 per kWh in mid-June.
• The real-time market price stood at Rs 4.5 per kWh on June 16, compared with Rs 6.5 per kWh on May 21, when demand hit record levels, according to IEX and Grid Controller of India data assessed by NDTV Profit.
   

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Nifty fell as much as 0.1% to 24,058 after rising as much as 0.2% to 24,133.35 in opening trade.

Sensex declined as much as 0.1% to 77,066 after gaining as much as 0.2% to 77,281.

The Indian rupee depreciated as much as 19 paise to 94.72 against the US dollar.

• Nifty 50 traded 14.35 points, or 0.06%, lower at 24,071.35 in pre-open trade.
• Sensex declined 197.50 points, or 0.26%, to 76,958.12.

• Macquarie said a possible US-Iran peace deal on Friday could moderate inflation pressure, as seen in the correction in crude oil prices.
• The brokerage named Asian Paints, Titan, Trent, Devyani and HUL as preferred plays if inflation pressure stays lower.
• It said crude moderation could aid Asian Paints and HUL margins, while Titan may benefit if current account and gold import concerns ease.

• Ambit initiated coverage on Schneider Electric with a Buy rating and a target price of Rs 1,400.
• The brokerage said the company is a proxy to the data centre theme and could benefit from Schneider Global’s focus on India as a manufacturing base.
• Ambit said commodity inflation may pose short-term margin risk, while business mix could support growth.

• Macquarie said IMD data showed a weak picture, but food inflation may not be as severe as feared.
• The brokerage said water storage is 16% above the long-term average, though 8% lower year-on-year. It said higher storage levels and government measures should help cushion food inflation.

• Citi initiated coverage on Vedanta with a Buy rating and a target price of Rs 560. The brokerage cited aluminium outlook, growth plans, cost focus and improving leverage, and expects the company to move to a net cash position by FY28.
• Kotak Securities initiated coverage on Vedanta Aluminium with a Buy rating and a target price of Rs 600. It said backward integration, aluminium prices, cash flows and deleveraging will remain key factors for the business.

• BofA maintained Underperform on Tata Motors PV with a target price of Rs 335, while Jefferies kept Underperform with a target of Rs 300. Citi maintained Sell and cut its target price to Rs 320 from Rs 330.
• Morgan Stanley maintained Equal-weight with a target price of Rs 367, citing FY27 EBIT guidance as broadly in line. CLSA maintained Outperform but cut its target price to Rs 452 from Rs 468.
• Brokerages cited JLR’s FY27 guidance, North America expansion, new model launches, cost-cutting plans, EV launches and free cash flow outlook among key factors.

• Shyam Metalics said it aims to grow revenue 2.3 times to Rs 42,647 crore and EBITDA 2.7 times to Rs 6,236 crore over FY26–31.
• The company is targeting 22% RoCE, 20% return on equity and a net cash position by FY31. It said stainless steel capex, aluminium foil exports and the railways business will support growth.
• JM Financial maintained Buy and raised its target price to Rs 1,100, while Jefferies maintained Buy and raised its target price to Rs 1,150.

• Sepia Investments sold 43.28 lakh shares of Corona Remedies at Rs 1,730 apiece. HDFC Mutual Fund bought 24.50 lakh shares, while Aditya Birla Sun Life Mutual Fund, Aberdeen funds, Invesco Mutual Fund, Kotak Mahindra Mutual Fund and WhiteOak Capital Mutual Fund were among other buyers.
• In DOMS Industries, Fila sold 42.48 lakh shares across two transactions at about Rs 2,200 apiece. SBI Mutual Fund bought 9.32 lakh shares and Axis Mutual Fund bought 3.61 lakh shares.
• HDFC Life Insurance sold shares in Finolex Industries, while bulk deals were also reported in Baazar Style Retail, Kitex Garments, Motisons Jewellers and SBC Exports.

• LIC is the largest key shareholder in NSE with a 10.72% stake.
• Aranda Investments holds 4.54%, Stock Holding Corp. holds 4.44%, SBI Capital Market owns 4.33%, and Mahogany has a 3.73% stake.
• SBI holds 3.23%, while PI Opportunities Fund, General Insurance Corp., New India Assurance and Oriental Insurance are also among key shareholders.

NSE’s IPO offer for sale will include SBI selling 2.48 crore shares, the largest among selling shareholders.

MS Strategic (Mauritius) will sell 1.60 crore shares, while CPPIB will offer 1.19 crore shares.

Aranda Investments, Bank of Baroda, Stock Holding Corp., GIC Re and New India Assurance will each sell over 1 crore shares.

Reliance Jio plans to build a 1,600-satellite broadband network, The Economic Times reported.

The company is looking to launch satellite broadband services within three years, according to the report.

• HFCL received a Rs 2,666.09 crore contract from Rail Vikas Nigam for the BharatNet Phase-3 project in the Uttar Pradesh telecom circle.
• RailTel received a letter of intent for an order estimated at Rs 52.56 crore, while Rail Vikas Nigam received a Rs 967.92 crore order from East Coast Railway for bridge construction.
• Lupin launched Azilsartan Medoxomil tablets in the US after receiving US FDA approval for its abbreviated new drug application.
• Waaree Renewable Technologies received an additional order for an existing solar project, raising the contract value by Rs 31 crore to Rs 1,045 crore.

The National Stock Exchange filed its draft red herring prospectus with SEBI for its IPO.

The issue will be entirely an offer for sale of 14.89 crore shares. State Bank of India will sell 2.475 crore shares, making it the largest seller.

LIC will not sell any stake in the offer. Canada Pension Plan Investment Board, Bank of Baroda and GIC are among the other sellers.

US President Donald Trump said he signed the memorandum of understanding between the US and Iran on Wednesday, setting in motion steps to end the war and reopen the Strait of Hormuz.

Trump said the document was signed in Versailles during the G7 summit in France. Iranian President Masoud Pezeshkian signed on behalf of Iran.

Brent crude fell back below $79 a barrel after gaining in the previous session, while West Texas Intermediate traded near $76.

Prices declined as an interim peace arrangement between the US and Iran came into effect, with focus shifting to crude flows through the Strait of Hormuz and Gulf output from suspended fields.

• Japan’s Nikkei 225 rose 1.44%, while South Korea’s Kospi gained 0.93% as both indices extended gains to fresh highs.
• Thailand’s SET Index advanced 1.16%. Australia’s ASX 200 slipped 0.14%, while New Zealand’s NZX 50 eased 0.03%.

• The US Federal Reserve kept its benchmark rate unchanged at 3.5–3.75%, in line with expectations.
• Investors focused on updated projections, which showed the median estimate for the 2026 year-end policy rate rising to 3.8% from 3.4% in March.
• Fed Chair Kevin Warsh did not provide his own rate projection, adding to uncertainty over the rate path.

GIFT Nifty traded at 24,091.50, compared with Wednesday’s Nifty 50 close of 24,085.70.

The early indicator pointed to a flat start for the Indian equity benchmark.