POST MARKET
Indian equities extended their winning streak for a fourth consecutive session on June 17, with the Nifty 50 settling above the 24,050 mark, supported by broad-based buying across sectors and continued strength in the broader market.
On the sectoral front, capital goods was the standout performer, surging 2.8 percent, while consumer durables, metals, power and PSU banks gained more than 1 percent each. In contrast, auto and realty indices slipped 0.5 percent each.
The broader market outperformed the frontline indices, with the Nifty Midcap 100 index rising 0.5 percent and the Nifty Smallcap 100 index advancing 0.8 percent.
STOCKS IN NEWS
Tata Motors
Shares of Tata Motors Passenger Vehicles Ltd (TMPV) fell nearly 8.10 percent intraday and emerged as the top loser on the Nifty 50 on Wednesday, as investors reacted to Jaguar Land Rover’s FY27 outlook and investor day commentary.
IDBI Bank
Shares of state-owned IDBI Bank surged as much as 16.14 per cent on Wednesday after a series of large block deals triggered heavy trading activity in the stock, while investors also continued to track progress on the government’s long-pending strategic divestment of the lender.
Samvardhana Motherson International
Shares of Samvardhana Motherson International Ltd (SAMIL) fell nearly 2% on June 17 as BMW AG said its profit margin will dwindle to as little as 1% this year as weakening Chinese demand and fallout from the Middle East conflict take a growing toll on what had been Germany’s most resilient automaker.
Paras Defence, HAL, Bharat Dynamics
Shares of defence companies rallied on Wednesday after the government announced that India’s annual defence production had reached a record Rs 1.78 lakh crore in FY26.
Paras Defence and Space Technologies led the gains, surging 18.58 per cent to Rs 1,295.00. Hindustan Aeronautics Ltd (HAL) climbed 5.36 per cent to Rs 4,484.00, while Bharat Dynamics rose 6.09 per cent to Rs 1,312.00
Source: Mint, Moneycontrol
