Stocks Today: Today, the Indian stock market may witness some notable activity with specific shares of select companies experiencing fluctuations.
The Indian stock market has been exhibiting a positive trend in recent days, with gains recorded on June 25th. The BSE Sensex and Nifty both saw increases, with the Sensex rising by over 700 points and the Nifty surpassing the 25,000 level. Consequently, investors’ attention will be focused on the shares of key companies today, June 26th. These include Tata Steel, JSW Energy, Jio Financial Services, Reliance Infrastructure, CDSL, and Adani Total Gas.
Recent news and deals related to these companies may drive movement in their shares today. Let’s examine the updates for each company and understand why investors should be watching them closely.
Tata Steel Receives Notice Regarding Input Tax Credit
Tata Steel, a key company within the Tata Group, has received a tax notice from the Central GST and Excise Department in Jamshedpur. The department alleges that the company incorrectly claimed approximately ₹890 crore in input tax credit from 2018-19 to 2020-21. The notice was issued on June 13th and received on June 19th.
Tata Steel has informed the exchange about this notice. The company states that it has complied with all applicable regulations and will pursue appropriate legal avenues to address the matter. This news could impact Tata Steel’s share price today, as any tax-related issue can create volatility in the market.
JSW Energy’s New Deal May Boost Investor Interest
JSW Energy’s subsidiary, Energizent Power, has entered into a significant agreement with the government-owned NHPC. Under this agreement, the company will supply 300 megawatts of solar-wind hybrid power. The project will be established in Rajasthan and Andhra Pradesh, with the electricity priced at ₹3.49 per unit.
Jio Financial Services Fuels Digital Banking Growth
Reliance Group’s Jio Financial Services has made a substantial investment in its payment bank to strengthen it. The company has acquired 19 crore equity shares for ₹190 crore, bolstering the platform.
Reliance Defence Secures Largest Export Order to Date from Germany
Reliance Infrastructure’s affiliate, Reliance Defence, has secured a major order from Rheinmetall Waffe Munition GmbH, a leading German arms manufacturer. The order is worth approximately ₹600 crore and involves the supply of high-tech ammunition.
This is reportedly the largest defense export order ever received by an Indian private company. This deal will significantly enhance Reliance Defence’s international reputation. Positive sentiment is expected to impact Reliance Infrastructure’s share price.
CDSL Partners with IIM Mumbai
Central Depository Services India Limited (CDSL) has entered into a significant agreement with IIM Mumbai. The aim of this partnership is to promote new technologies and innovation in the stock market through data analytics and market research.
This collaboration will foster trust and transparency among investors. Furthermore, it represents a crucial step towards research and development in shaping the future of the market. CDSL’s move is anticipated to be viewed positively in the market.
Adani Total Gas and Jio BP Strategic Partnership
Adani Total Gas and Jio BP have entered into a strategic partnership. As a result, Adani Total Gas’s retail fuel stations will now dispense Jio BP’s petrol and diesel, while Jio BP will sell Adani’s CNG at its stations.
This partnership is expected to benefit both companies by strengthening their retail fuel networks. This step could inject new dynamism into the energy distribution sector in India. Investors will be closely monitoring the shares of both companies today, linked to this partnership.