IFCI, Tata Motors, HFCL among key stocks to watch

Indian equities extended gains for a fourth straight session on Wednesday, with the Nifty 50 closing above 24,000, as stock-specific triggers around IFCI, Tata Motors, HFCL, Corona Remedies and General Insurance Corporation of India are set to guide Thursday’s trade. Technical indicators show the index approaching a key moving average zone, while large orders, block deals and management changes drive focus in individual counters.

Market overview and technical outlook

Index / Level	Value / Zone	Move & % Change	Comments
Sensex	77,155.62	+347.14 pts (+0.45%)	Extended winning streak to four sessions on favourable global cues.
Nifty 50	24,085.70	+96.55 pts (+0.40%)	Reclaimed 24,000, ongoing recovery supported by broad-based buying.
Nifty key resistance	24,150 (approx. 100-day EMA)	NA	Sustained move above may open path towards 24,500.
Nifty resistance	24,500	NA	Upside level if index holds above 24,150 zone.
Nifty support zone	23,800–23,900	NA	Expected immediate support on any profit-taking.
Next key support	23,650	NA	Deeper downside support if lower band breaks.

• Nifty advance supported by favourable global cues and sector-wide buying.
• Gift Nifty trends signal a likely flat to muted open near 24,083.
• Analysts flag 24,150 as critical short-term resistance for Nifty.
• Support at 23,800–23,900 seen as first buffer against pullbacks.

IFCI and NSE IPO linkage

• IFCI shares in focus after NSE filed draft IPO papers with SEBI.
• IFCI holds 52.86% in Stock Holding Corporation of India (SHCIL).
• SHCIL owns 4.4% of NSE as of the December quarter.
• IFCI stock has risen over 51% in the past month.

Tata Motors and JLR turnaround guidance

• Tata Motors in focus on updated outlook for Jaguar Land Rover (JLR).
• JLR projects 13% revenue growth in FY27.
• JLR guides for a swing back to profitability in FY27.
• FY26 impacted by a cyberattack that forced a month-long production shutdown.
• Higher US tariffs also weighed on JLR volumes in FY26.

HFCL and RVNL BharatNet orders

• HFCL has secured an order worth ₹2,666 crore from RVNL.
• Order relates to supply of equipment for BharatNet Phase 3.
• New contract is in addition to a prior ₹2,167.65 crore BharatNet order.
• Earlier order from RVNL covers Uttar Pradesh East and West telecom circles.
• Both contracts disclosed by HFCL in regulatory filings.

Corona Remedies block deal activity

• Corona Remedies saw a large secondary market transaction on exchanges.
• Sepia Investments sold shares worth about ₹749 crore via block deal.
• Buyers included HDFC Mutual Fund and Aberdeen Asset Management entities.
• Abu Dhabi Investment Authority also participated as a purchaser.

General Insurance Corporation of India (GIC Re)

• General Insurance Corporation of India (GIC Re) announced a leadership change.
• Hitesh Rameshchandra Joshi appointed Chairman-cum-Managing Director.
• Joshi formally took charge on 16 June, per company statement.

Other stocks to watch

• Rail Vikas Nigam Ltd (RVNL) received a Letter of Acceptance from East Coast Railway.
• RVNL project covers bridge construction under EPC model on Bhadrak–Vizianagaram route.
• Work relates to third and fourth line between Nergundi–Barang and Khurda Road–Vizianagaram.
• RailTel Corporation of India obtained a Letter of Intent for a domestic IT project.
• RailTel mandate involves development of disaster recovery IT infrastructure.
• HFCL order from RVNL for BharatNet Phase 3 also supports RVNL order book visibility.

Institutional flows and corporate actions

• DOMS Industries saw substantial block deals involving domestic mutual funds.
• SBI Mutual Fund bought 9.3 lakh DOMS shares worth ₹205 crore.
• Axis Mutual Fund purchased 3.6 lakh DOMS shares for ₹79.6 crore.
• Apollo Hospitals settled a regulatory matter with the Reserve Bank of India.
• Company paid a ₹17.8 crore compounding fee to close proceedings.
• Bosch Home Comfort to see promoter stake sale via offer for sale.
• Bosch Global Software Technologies plans to divest up to 7.97% stake.
• OFS for Bosch Home Comfort scheduled for 18–19 June.

Brokerage views on key names

• Tata Motors CV retains a buy rating from a global brokerage with ₹470 target.
• Brokerage notes market share gains in HCVs and SCVs from platform refresh and launches.
• Margin focus over growth chase seen intact despite near-term cost pressures.
• Upside from Iveco JV seen dependent on EU LCV recovery and capex synergies.
• JSW Steel rated buy with target of ₹1,520 by a domestic brokerage.
• Growth expected from new capacity ramp-up and backward integration cost savings.
• Brokerage projects double-digit revenue growth through FY27–FY28.
• EBITDA per tonne expected to rebound to about ₹14,000 by FY28.

Other brokerage-driven stock ideas

• Dixon Technologies rated overweight with ₹12,700 target.
• Brokerage revisits potential Vivo joint venture approval scenario.
• Management indicated Vivo has 3.5 crore annual India volumes.
• About 67% of Vivo volumes, or 2.2 crore units, could shift to Dixon.
• JV could add ₹30,000 crore revenue with higher ASP than current mobile portfolio.
• If approved in June, JV operations may start in Q3FY27 after 60–90 days.
• JV may add 1.1 crore units to FY27 volumes and 2.2 crore to FY28.
• Revenue estimates could rise 24–39% over FY27–FY28, EPS 13–18%.
• Pine Labs rated buy with ₹235 target, management guiding 21–23% FY26 YoY growth.
• B2B fintech arm seeing better monetisation and higher attach rate opportunities.
• Top-line CAGR of 18.5% expected over FY26–FY28.
• Adjusted EBITDA margin seen rising to 26% in FY27 and 30% in FY28 from 21% in FY26.
• PB Fintech (Policybazaar) rated buy with ₹1,950 target.
• Stock has derated about 20% in six months on commission and founder concerns.
• Brokerage says valuations already factor in 10% commission cut.
• Renewal profitability and business model seen largely unchanged.

Pharma and healthcare developments

• Lupin launched Azilsartan Medoxomil tablets in the United States.
• Launch covers 40 mg and 80 mg strengths.
• Product follows US FDA approval of its Abbreviated New Drug Application.

Global and macro cues

• Indian markets supported by optimism over a potential US–Iran peace agreement.
• White House confirmation of a Peace Deal Memorandum improved risk appetite.
• Agreement expected to enable reopening of the Strait of Hormuz.
• Reopening seen reducing geopolitical risk and energy market uncertainty.
• Decline in crude oil prices has aided Indian market sentiment.
• “Indian markets are expected to trade with a cautiously positive bias, supported by encouraging developments on both the geopolitical and monetary policy fronts,”

– Ponmudi R, CEO, Enrich Money.

FAQs

Q: Why is IFCI in focus in the current market session?

• IFCI is in focus because NSE has filed draft IPO papers with SEBI and IFCI indirectly holds exposure to NSE through its majority stake in SHCIL, which owns 4.4% of the exchange.

Q: What is driving attention to HFCL shares now?

• HFCL has received a ₹2,666 crore order from RVNL for BharatNet Phase 3, on top of an earlier ₹2,167.65 crore BharatNet contract, significantly boosting its order book visibility.

Q: Which levels are critical for Nifty 50 in the near term?

• On the upside, 24,150 near the 100-day EMA and then 24,500 are key resistance zones, while 23,800–23,900 and 23,650 are important support levels for Nifty 50.

Frequently Asked Questions

Why is IFCI in focus in the current market session?

IFCI is in focus because NSE has filed draft IPO papers with SEBI and IFCI indirectly holds exposure to NSE through its majority stake in SHCIL, which owns 4.4% of the exchange.

What is driving attention to HFCL shares now?

HFCL has received a ₹2,666 crore order from RVNL for BharatNet Phase 3, in addition to an earlier ₹2,167.65 crore BharatNet contract, materially lifting its order book.

Which levels are critical for Nifty 50 in the near term?

Key resistance zones are near 24,150 and 24,500, while 23,800–23,900 and then 23,650 are seen as important support levels.