Craftsman block deal, JSW Infra QIP keep stocks in focus
Indian equities ended higher on Monday with the Nifty 50 at 24,102.90, while traders turned attention to a ₹486 crore block deal in Craftsman Automation and fresh capital-raising moves by JSW Infrastructure, Vodafone Idea and IIFL Finance ahead of Tuesday’s session.
Improving global risk sentiment, aided by progress in US–Iran talks and softer crude prices, underpinned the broader market tone even as domestic flows shifted toward stocks with near-term fund-raising or corporate action triggers.
Market overview
| Index | 24 Jun Close | Move & % Change | Comments |
|---|---|---|---|
| Sensex | 77,094.07 | +291 pts (+0.38%) | Recovered part of Friday’s losses, led by banking shares. |
| Nifty 50 | 24,102.90 | +89.80 pts (+0.37%) | Held above 24,100 as risk appetite improved on global cues. |
- Nifty gains driven by banking sector strength and supportive global sentiment.
- Gift Nifty near 24,149, indicating a flat to mildly positive open.
- Crude softness and US–Iran diplomatic progress aided risk-on positioning.
Key stocks in focus
- Primary keyword: stocks in focus
- Tata Consultancy Services (TCS) board to meet on 9 July to approve June quarter results.
- TCS board will also consider an interim dividend on the same date.
- Vodafone Idea to issue 430 crore warrants on a preferential basis.
- Warrants allotted to Suryaja Investments Pte. Ltd., part of the Aditya Birla promoter group.
- IIFL Finance board to meet on 27 June to consider equity fund raising.
- Birla Corporation started coal mining operations at the Bikram coal block in Madhya Pradesh.
- Transrail Lighting approved 100 percent acquisition of Gactel Turnkey from Ajanma Holdings.
Craftsman Automation block deal and QIP
- Craftsman Automation traded about 5.25 lakh shares in a pre-market block deal.
- Average deal price ₹9,250 per share, implying value near ₹486 crore, per exchange data.
- Promoter Srinivasan Ravi is looking to sell up to 2.01% stake via the block.
- Floor price set at ₹9,250, at a discount to the previous close.
- Stock ended Monday at ₹9,470, down 3.43% in the prior session.
- Shares have gained 23% so far in 2026, despite recent volatility.
- Block sale follows a recent QIP where Craftsman raised nearly ₹2,000 crore.
- Company allotted 22.98 lakh shares at ₹8,700 per share to qualified buyers.
- Paid-up equity capital rose to ₹13.08 crore (2.62 crore shares of face value ₹5).
- Earlier capital was ₹11.93 crore, with 2.39 crore equity shares.
- QIP remained open from 15 June to 18 June.
- Promoters held 48.70% stake as per March quarter shareholding pattern.
JSW Infrastructure and other capital raises
- JSW Infrastructure launched a QIP to raise up to ₹7,503 crore.
| Company | Instrument / Route | Size / Details | Purpose / Context |
|---|---|---|---|
| JSW Infrastructure | QIP (fresh + OFS) | ₹7,503 crore total; ₹6,555 crore fresh, ₹948 crore OFS | Expansion, debt repayment, strategic investments. |
| Craftsman Automation | QIP | ₹2,000 crore via 22.98 lakh shares at ₹8,700 | Balance sheet strengthening and growth capital. |
| Vodafone Idea | Preferential warrants | 430 crore warrants to Suryaja Investments | Capital infusion by promoter group entity. |
| IIFL Finance | Proposed equity issue | Size not disclosed | Board to consider equity fund raise on 27 June. |
- JSW Infra QIP proceeds earmarked for expansion, debt reduction and strategic investments.
- JSW Infra issue structure: ₹6,555 crore fresh issue, ₹948 crore offer for sale.
- Vodafone Idea warrant issue signals continued promoter support for capital needs.
- IIFL Finance exploring equity issuance to bolster capital adequacy and growth funding.
Other corporate developments
- Bharat Electronics (BEL) secured fresh orders worth ₹1,081 crore since 25 May 2026.
| Company | Development | Notes |
|---|---|---|
| Bharat Electronics | New orders ₹1,081 crore | Includes communication systems, radars, CBRN gear, seekers, avionics and services. |
| Hindustan Zinc | MoU on green hydrogen | Partnered with Advantek Associates and Aero Eagle Automobiles for clean energy integration. |
| GHV Infra Projects | Work order ₹213 crore (incl. GST) | Composite civil, electrical, mechanical and S&T works from GHV (India) Pvt Ltd. |
| Info Edge | AI startup portfolio update | Portfolio at ₹1,268 crore on ₹614 crore invested across 28 firms. |
- BEL orders cover upgrades, spares and maintenance services across defence electronics.
- Hindustan Zinc MoU aims to evaluate green hydrogen and other clean energy options.
- GHV Infra order spans multiple engineering disciplines, adding to execution pipeline.
- Info Edge AI portfolio shows 2.1x return multiple and estimated 31% gross IRR.
Technical and sentiment backdrop
- Analysts cited banking sector buoyancy and sector rotation as key supports for indices.
- Index advance remains gradual despite positive bias, indicating measured risk-taking.
- Diplomatic progress in US–Iran talks continues to support global risk sentiment.
- One market participant noted a “cautiously positive bias” as talks build a “good foundation”.
- Lower crude prices reduce macro headwinds and support domestic equity valuations.
FAQs
Q: Why is Craftsman Automation in focus today?
- Large pre-market block deal of about ₹486 crore and a recent ₹2,000 crore QIP have altered its shareholding and capital structure, drawing trader interest.
Q: What is significant about JSW Infrastructure’s QIP?
- JSW Infra plans to raise up to ₹7,503 crore, combining a large fresh issue and offer for sale, with proceeds targeted at expansion, debt repayment and strategic investments.
Q: Which other stocks are being watched by traders?
- TCS (upcoming results and interim dividend consideration), Vodafone Idea (promoter-backed warrants), IIFL Finance (proposed equity raise), Bharat Electronics, Hindustan Zinc, GHV Infra Projects, Birla Corporation and Transrail Lighting are all in focus due to recent announcements.
Frequently Asked Questions
Why is Craftsman Automation in focus today?
Craftsman Automation saw a pre-market block deal of about ₹486 crore and recently raised nearly ₹2,000 crore via a QIP, changing its ownership and capital profile and drawing trader attention.
What is the size and purpose of JSW Infrastructures QIP?
JSW Infrastructure launched a QIP of up to ₹7,503 crore, including a ₹6,555 crore fresh issue and ₹948 crore offer for sale, to fund expansion, repay debt and support strategic investments.
Which major corporate actions are driving stock-specific moves?
Key actions include TCSs July 9 results and interim dividend consideration, Vodafone Ideas 430 crore promoter warrants, IIFL Finances proposed equity raise, BELs ₹1,081 crore orders and Hindustan Zincs green hydrogen MoU.
Disclaimer
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