The Indian stock market is poised for an eventful trading session on June 23, with several key stocks and sectors expected to be in focus. Oil and gas companies, such as IOCL, BPCL, and HPCL, will be closely watched as geopolitical tensions in the Middle East impact crude oil prices. The US attacked Iran over the weekend, and Iran threatened to shut down the Strait of Hormuz, escalating the situation.
Changes to the SENSEX composition will take effect from the start of trading on June 23. Trent and Bharat Electronics will be added to the index, while Nestle India and IndusInd Bank will exit. V-Mart Retail expects revenue growth of 6-7% in local currency for the full year FY25, with a favorable foreign exchange impact of 0.2%.
DLF is set to launch more than 400 homes in the first phase of its upcoming project in Mumbai’s Andheri suburb. This marks the company’s entry into the city’s residential property market. Zen Technologies did not disclose financial details of a recent deal.
Coal Mine Planning & Design Institute Ltd (CMPDIL) filed a draft red herring prospectus (DRHP) with SEBI last month, and the company’s Chairman-cum-Managing Director stated that the next course of action will be decided after receiving preliminary comments from the regulatory body. Indian IT giants like TCS and Infosys will also be in the spotlight.
Sensex updates for June 23
Despite a positive forex impact, new bookings were down, while generative AI bookings reached a significant milestone. TCS stock closed 7% lower in US trading on Friday. Hindustan Aeronautics Limited (HAL) secured the Small Satellite Launch Vehicle (SSLV) technology from ISRO with a winning bid worth ₹511 crore.
The company aims to handle 6-8 SSLV launches annually and become the sole producer of these rockets in India within two years. Bharat Electronics Limited (BEL) announced new defence orders worth ₹585 crore since June 5, including missile fire control systems, communication gear, jammers, and spares. Waaree Renewable Technologies Ltd saw an increase in its existing solar EPC order by ₹246.92 crore, bringing the total project value to ₹1,480.40 crore.
The Reserve Bank of India imposed a penalty of ₹29.6 lakh on Fino Payments Bank for repeatedly breaching end-of-day balance limits in customer accounts. Granules India completed a US FDA inspection at its API Unit-I facility in Telangana, concluding with one Form 483 observation. The company might also face challenges after the US Department of Commerce imposed a high countervailing duty on organic soybean meal exports by its subsidiary.
Bajel Projects secured a significant power transmission order from PowerGrid Corporation, categorized as “Ultra-Mega” and exceeding ₹400 crore. The Reserve Bank of India eased lending norms for small finance banks by reducing their mandatory priority sector lending requirement by 15 percentage points. These developments across various sectors will influence market dynamics and should be closely monitored by investors on June 23.
