Stock Market Today: All You Need To Know Going Into Trade On June 24

Good Morning!

The GIFT Nifty, an early indicator for the benchmark Nifty 50, is up 0.26% at 24,872 as of 6:54 am. Equity-index futures for the US (S&P 500) rose 0.08%. while Europe (Euro Stoxx 50) dipped 0.06%. 

India Market Recap

Domestic equity benchmarks fell on Tuesday, June 23, dragged by heavyweight IT and metal stocks, while weak business activity data and concerns over a patchy monsoon triggered profit-booking in the broader market following a recent rally led by low oil prices. The NSE Nifty 50 and BSE Sensex fell 1.16% each to 23,824.10 and 76,200.68, respectively.

US Market Recap

Wall Street opened lower on Tuesday as tech sell-off that began on Monday deepens globally. S&P 500 opened 1.54% lower at 7,358.50, tech-heavy Nasdaq Composite fell 2.21% at open to 25,598.41, and Dow Jones Industrial Average lost nearly 300 points and opened 0.59% lower at 51,428.06.

Asian Market Update

Asian equities were mixed on Wednesday as investors looked for signs that technology stocks could regain momentum after a broad sell-off in the US triggered losses across global markets in the previous session. South Korea's Kospi rose 4.02%, recovering sharply after a double-digit decline a day before. Japan's Nikkei 225 dipped 0.06%, while Australia's ASX 200 was largely unchanged, rising 0.01%.

Commodity Check

Oil prices dropped on Wednesday after settling 1% lower in the previous session amid signs of progress in US-Iran peace talks. Brent futures last traded 0.17% lower at $76.47 per barrel. The benchmark closed down 82 cents, or 1.1%, at $77.08 on Tuesday, while US West Texas Intermediate futures finished 65 cents, or 0.9%, lower at $73.21 per barrel. 

ALSO READ: Vedanta Promoter Sells $250-Million Stake In Block Deal As Group Steps Up Deleveraging

Stocks In News

• HPCL: Achieved a massive infrastructure milestone as the mega HPCL Rajasthan Refinery successfully declared its Commercial Operation Date (COD) on June 22. This hyper-scale refining and petrochemical project marks a major structural shift for HPCL, paving the way for higher-margin petroleum derivatives and localized product supply lines across northern India.
• IRFC: The government has formally announced an Offer for Sale (OFS) to divest up to a 2% stake (26.1 crore shares) in the state-run railway financier. The base size is set at 13.1 crore shares with an oversubscription green-shoe option for an equal amount. Crucially, the floor price has been locked at Rs 91 per share, presenting a distinct regulatory calibration against prevailing market prices. Non-retail bidding opens tomorrow, with retail blocks joining on Thursday.
• Honasa Consumer: The parent company of Mamaearth is aggressively executing its inorganic health and pharma expansion. The board approved the acquisition of a 58% majority stake in Fluence Pharma for an enterprise value of Rs 135 crore, with an agreement to absorb the remaining 42% over the next 5–7 years. Concurrently, the firm has incorporated a new B2C subsidiary, Honasa Health, to launch its proprietary, high-margin nutraceuticals vertical.
• NTPC: Its subsidiary, Patratu Vidyut Ut उत्पादन Nigam Ltd (PVUNL), has officially declared the commercial operations of Unit-2 of the Patratu Super Thermal Power Project in Jharkhand. The unit injects a massive 800 MW of high-efficiency super-critical power capacity into the grid, reinforcing NTPC's baseline power supply metrics.
• REC & PFC: The structural transformation of India's state-backed power sector financing is entering its final countdown. The board of REC is officially scheduled to meet on June 28 to formally consider and vote on the final scheme of amalgamation and merger with Power Finance Corporation (PFC).
• Tata Power: Received a significant operational extension as the Ministry of Power extended the validity of its Section 11 directions under the Electricity Act, 2003, up to September 30. The regulatory mandate forces the full-capacity operation of its ultra-mega power plant (UMPP) at Mundra, ensuring cost-plus tariff compensation amidst high seasonal power demands.
• Rashi Peripherals: Signed a definitive pact to acquire a 67% controlling stake in VDA Infosolutions for a consideration of Rs 369 crore. The acquisition sharply diversifies Rashi's traditional distribution capabilities into enterprise IT solutions, data center management, and next-generation enterprise hybrid cloud infrastructures.
• NLC India: Entered into a strategic green-energy MoU with oil marketing giant Indian Oil Corporation (IOCL). The parties will establish a formal Joint Venture to co-develop large-scale renewable energy power plants across Tamil Nadu, pooling land assets and power evacuation logistics.
• Bajaj Auto: Disclosed that its IT infrastructure, alongside certain networks of its subsidiaries, was recently hit by a localized ransomware attack. The management clarified that its cybersecurity protocols and rapid containment frameworks successfully mitigated the threat promptly, with zero impact on baseline manufacturing operations or supply chain links. Separately, its core financing arm approved the private placement of 50,000 NCDs to raise Rs 500 crore.
• Satin Creditcare: The microfinance institution's board has approved an enabling resolution to raise up to Rs 5,000 crore through the multi-tranche issuance of Non-Convertible Debentures (NCDs) to support its rural credit book expansion.
• Wipro: Sealed a comprehensive global cyber defense solution partnership with cybersecurity giant Palo Alto Networks. Separately, the firm extended the timeline for completing its asset and customer contract acquisition of Alpha Net Consulting to September 30, pushing it back from the initial June 30 target.
• Infosys: Formed a long-term AI managed services pact with global semiconductor leader GlobalFoundries. Under the contract, Infosys will deploy its proprietary AI architecture to deliver end-to-end, automation-led managed services to optimize GlobalFoundries' manufacturing workflows.
• PI Industries: Substantially strengthened the equity structure of its high-growth pharma intermediate segment by converting Rs 1,000 crore worth of Optionally Fully Convertible Debentures (OFCDs) held in its arm, PI Health Sciences, into 72.46 crore fresh equity shares at Rs 13.8 per share.
• Tanfac Industries: Formally approved its Placement Document and opened a fresh QIP issue to raise capital, locking in the floor price at Rs 2,090.34 per share to fund its ongoing specialty chemical capacity expansions.
• City Union Bank: The board has approved a capital-raising framework to pull in up to Rs 500 crore via a Qualified Institutions Placement (QIP) route.
• Yes Bank: Scheduled a crucial board meeting on June 29 to comprehensively consider, review, and approve various avenues for raising fresh equity or hybrid capital.
• Power Grid: Announced a dual financial management agenda for its upcoming June 26 board meeting, where it will evaluate both the issuance of fresh domestic debentures and a potential External Commercial Borrowing (ECB) program of up to $500 million.
• PFC: Continuing its active capital-market deployments, the non-banking finance giant successfully issued dollar-denominated senior secured notes worth $300 million maturing in 2031.
• IRCTC: Announced that the government has accepted the resignation of CMD Sanjay Jain, who stepped down citing personal grounds.
• Balakrishna Industries: Announced the formal resignation of its Deputy CFO, Ravi Narayan Joshi, from his executive financial role.
• Karur Vysya Bank: Orchestrated a top-tier executive rotation, appointing its current Chief Financial Officer, Ramshankar R, to take charge as the private bank's new Chief Operating Officer (COO) effective October 15.
• Garden Reach Shipbuilders: Emerged as the lowest (L1) bidder for a state-backed contract valued at Rs 40 crore to supply one 15-ton Electric Bollard Pull Tug, maintaining its robust order pipeline.
• Solarium Green Energy: Secured an engineering milestone by winning a Rs 186 crore solar EPC subcontract to build solar infrastructures across Maharashtra.
• Godawari Power & Ispat: Declared the successful commencement of commercial operations at its brand new 6.91 MW clean energy power plant located in Raipur

IPO Offering

Advit Jewels

Advit Jewels is a Jaipur-based jewellery company, specializing in handcrafted fine jewellery, with expertise in Kundan, Polki, Diamond and Studded pieces under the brand name "Rambhajo".
The public issue was subscribed to 11.18x on day 1. The bids were led by NIIs (23.73x), retail (11.55x), QIB (1.11x)

Waterways Leisure Tourism

Waterways Leisure Tourism Limited is one of India's leading domestic ocean cruise operators, offering luxury cruise experiences focused on Indian culture, hospitality, entertainment, and cuisine.
The public issue was subscribed to 19% on day 1. The bids were led by retail (99%), NII (4%).

Turtlemint Fintech Solutions

Turtlemint Limited is a technology-enabled insurance distribution platform that connects customers, insurance advisors (Digital Partners), and insurers through a phygital (physical + digital) model.
The public issue was subscribed to 1.2x on day 1. The bids were led by QIB (1.59x), retail (1.07x), NII (52%)

IPO Opening

CSM Technologies : IT solution providers that have delivered unique projects for both government and private clients. Share Issued at price band of Rs 107 to 113 and lot size 132 shares. Total Issue size of Rs 146 cr, which is 100%  Fresh Issue.

Set to open on 24th June 2026, IPO closes 29th June 2026, Listing 2nd  July 2026.

Bulk & Block Deals 

Delhivery: NEXUS VENTURES III LIMITED sold 43.23 lk shares at Rs. 481 per share.

Onix Solar Energy: ABHISHEK ASHVINBHAI KAMDAR sold 3.55 lk shares at Rs. 643 per share.

Craftsman Automation: FRANKLIN TEMPLETON MUTUAL FUND bought 29,190 shares; MERRILL LYNCH INVESTMENT MANAGERS LIMITED A/C. MLI EQ.F (MAU bought 29,859 shares; INVESCO MUTUAL FUND bought 1.08 lk shares; ABU DHABI INVESTMENT bought 57,298 shares; AXIS MUTUAL FUND bought 30,271 shares; EDELWEISS MUTUAL FUND bought 27,028 shares; TATA AIA LIFE INSURANCE COMPANY LIMITED bought 30,271 shares; HDFC MUTUAL FUND bought 1.83 lk shares; HDFC STANDARD LIFE INSURNACE bought 29,190 shares & SRINIVASAN RAVI sold 5.25 lk shares at Rs. 9250 per share.

M&M: PI OPPORTUNITIES AIF V LLP bought 10.18 lk shares & PRAZIM TRADING AND INVESTMENT COMPANY PRIVATE LIMITED sold 10.18 lk shares at Rs. 3046 per share.

Garuda Construction & Engineering: KIFS ENTERPRISE bought 5 lk shares at Rs. 190.11 per share.

SKY GOLD AND DIAMONDS LTD: VIKAS NAVRATANMAL GANNA sold 11.53 lk shares at Rs. 490.41 per share & JINESH NAVRATANMAL GANNA sold 11.41 lk shares at Rs. 491.13 per share.

Vedanta: TWIN STAR HOLDINGS LIMITED sold 6.5 cr shares at Rs. 291.36 per share.

Corporate  Action

Bajaj Auto- Buy Back
ZF Commercial Vehicle Control System India- Bonus 5:1

Board Meetings

Equitas Small Finance Bank- Fund Raising

AGM

June 24, 2026

Adani Ports

Adani Enterprises

HDFC AMC

Sundram Fasteners

Krishana Phoschem Ltd

ICICI PRUDENTIAL ASSET MANAGEMENT COMPANY LTD.

AVANTEL

Madhya Bharat Agro Products Ltd

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Insider Trades

• Paradeep Phosphates: Zuari Maroc Phosphates promoter has acquired 0.80 lk shares, Zuari Maroc Phosphates promoter has acquired 0.65 lk shares, Zuari Maroc Phosphates promoter has acquired 0.80 lk shares, and Zuari Maroc Phosphates promoter has acquired 0.65 lk shares.
• Confidence Petroleum India: Confidence Lpg Bottling promoter group has acquired 14.00 lk shares and Confidence Lpg Bottling promoter group has acquired 14.00 lk shares.
• Kcp: Vrk Grandsons Investment promoter group has acquired 0.35 lk shares.

List of securities shortlisted in Short - Term ASM Framework Stage: Aeroflex Enterprises, Ems, Kirloskar Industries, Kirloskar Pneumatic Company, NACL Industries, Standard Engineering Technology, Sika Interplant Systems, and VA Tech Wabag

List of securities to be excluded from ASM Framework: Sakar Healthcare

Trading Tweaks Price Band change from 10% to 5%: United Foodbrands Price Band change from 20% to 10%: Ems Ltd Price Band change from 20% to 5%: Vikram Solar

ALSO READ: Trade Setup For June 24: Nifty Set For Deeper Fall If 23,750 Support Breached — Analysts Flag Key Levels

F&O Cues

Nifty Jun futures is down 1.30% to 23,810.00 at a discount of 14 points. Nifty Options 30th Jun Expiry: Maximum Call open interest at 25,000 and Maximum Put open interest at 24,000.

 Securities in ban period: Kaynes Technology India

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Photo Credit: NDTV Profit

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