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Barring IT index all the sectoral indices on the NSE were traded in green.
At 09:25 IST, the barometer index, the S&P BSE Sensex fell 9.64 points or 0.02% to 77,134.48. The Nifty 50 index rose 2 points or 0.01% to 24,088.75.
The broader market outperformed the headline indices. The BSE 150 MidCap Index gained 0.12% and the BSE 250 SmallCap Index added 0.49%.
The market breadth was strong. On the BSE, 1,976 shares rose and 930 shares fell. A total of 190 shares were unchanged.
Foreign portfolio investors (FPIs) sold shares worth Rs 101.59 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 1,561.40 crore in the Indian equity market on 17 June 2026, provisional data showed.
Numbers to Track:
The yield on India's 10-year benchmark federal paper rose 0.10% to 6.872 compared with previous session close of 6.865.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 94.6275 compared with its close of 94.5000 during the previous trading session.
MCX Gold futures for 5 August 2026 settlement fell 0.81% to Rs 152,639.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.15% to 100.24.
The United States 10-year bond yield declined 0.20% to 4.448.
In the commodities market, Brent crude for August 2026 settlement fell $ 1.28 or 1.61% to $78.27 a barrel.
Stocks in Spotlight:
HFCL rallied 3.23% after the company has received a contract worth Rs 2,666.09 crore from Rail Vikas Nigam (RVNL) for the execution of the BharatNet Phase-III project in Uttar Pradesh. The scope of the contract includes the supply of telecom equipment and related accessories, the creation of an optical fiber cable telecom network, and maintenance of the project for 10 years.
Lupin rose 0.93%. The company announced the launch of Azilsartan Medoxomil Tablets, 40 mg and 80 mg, in the United States following approval from the US Food and Drug Administration (USFDA) for its abbreviated new drug application (ANDA). The product is bioequivalent to Edarbi and is indicated for the treatment of hypertension in adults. Lupin is the exclusive first-to-file applicant for the generic version and is eligible for 180 days of generic drug exclusivity in the U.S. market.
Balkrishna Industries shed 0.88%. The company announced the appointment of Saroj Kumar Khuntia as chief financial officer (CFO) and key managerial personnel (KMP) with effect from 18 June 2026. Meanwhile, Madhusudan Bajaj has ceased to be the company's CFO and KMP upon attaining the age of superannuation.
Global Markets:
Asian markets traded mixed on Thursday as the US Federal Reserve indicated the possibility of a rate hike this year.
Wednesday marked the first meeting of the Federal Reserve with Kevin Warsh at the helm of the U.S. central bank. At the conclusion of the meeting, the Fed kept the benchmark federal funds rate unchanged and anchored in a range of between 3.5% and 3.75%.
Policymakers’ 'dot plot” revealed that several Fed officials now see interest rates increasing in 2026. The median estimate for the year-end interest rate now stands at 3.8%, up from 3.4% in prior projections from March, suggesting that at least one rate hike could be in the picture in 2026.
Complicating the forecast was Warsh’s decision to abstain from submitting a rate forecast.
Overnight on Wall Street, stocks fell on Wednesday, while Treasury yields surged, as investors grew uncertain over the path of monetary policy after several Federal Reserve officials indicated there could be a rate hike this year to tamp down on inflation.
The Dow Jones Industrial Average fell 507.12 points, or 0.98%, after earlier hitting a fresh all-time intraday record — the index’s third consecutive high. The 30-stock index closed at 51,492.55. The S&P 500 lost 1.21% and ended at 7,420.10. The Nasdaq Composite shed 1.34% and settled at 26,021.66.
The contract is to be executed over a period of two years for implementation, followed by 10 years of operation and maintenance (O&M), including the warranty period. The company said the order is in addition to the Rs 2,167.65 crore contract awarded by RVNL in January 2025 for BharatNet Phase III projects in the Uttar Pradesh (East) and Uttar Pradesh (West) Telecom Circles.
RVNL is a domestic entity, and the contract does not involve any related-party transaction. The promoter, promoter group and group companies of HFCL do not have any interest in the awarding entity.
HFCL is a diversified telecom infrastructure enabler with businesses spanning telecom infrastructure development, system integration, and the manufacture and supply of high-end telecom equipment, optical fiber, and optical fiber cables (OFC). On a consolidated basis, HFCL reported net profit of Rs 178.50 crore in Q4 March 2026 as against net loss of Rs 81.43 crore in Q4 March 2025. Net sales surged 127.81% YoY to Rs 1824.12 crore in Q4 March 2026.
RailTel Corporation of India was incorporated in 2000, with the objective of creating nationwide broadband and VPN services, telecom, and multimedia networks to modernize the train control operation and safety system of Indian Railways. The company’s standalone net profit jumped 35.7% to Rs 143.52 crore in Q4 FY26, compared with Rs 105.78 crore in Q4 FY25. Revenue from operations rose 27.6% YoY to Rs 1,668.86 crore in Q4 FY26.
However, investors will keep a close watch on the annual general meeting (AGM) of Reliance Industries scheduled for Friday, 19 June 2026, while also monitoring monsoon progress, foreign institutional investor (FII) activity, and inflation trends for further market direction.
Realty, PSU Bank and Pharma shares advanced while IT and metal stocks declined.
As per provisional closing data, the barometer index, the S&P BSE Sensex advanced 254.36 points or 0.33% to 77,409.98. The Nifty 50 index rose 82.30 points or 0.34% to 24,168. In the five consecutive trading sessions, the Sensex jumped 4.85% and Nifty climbed 4.35%.
The broader market outperformed the frontline indices. The BSE 150 MidCap Index gained 0.41% and the BSE 250 SmallCap Index added 0.67%.
The market breadth was strong. On the BSE 2,425 shares rose and 1,811 shares fell. A total of 192 shares were unchanged.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 94.3650 compared with its close of 94.5000 during the previous trading session.
In the commodities market, Brent crude for August 2026 settlement declined $1.68 or 2.11% to $77.87 a barrel.
Monsoon update:
The India Meteorological Department (IMD) has forecast widespread monsoon rainfall over Mumbai and adjoining parts of Maharashtra by the end of June, indicating a delayed onset of the southwest monsoon in the city, where it typically arrives around June 10-11.
Buzzing Index:
The Nifty IT Index declined 1.19% to 28,466.45 as investors reacted to the US Federal Reserve's inflation outlook and growing expectations that interest rates could remain elevated for longer. The index increased 3.68% in the past three trading sessions.
Infosys (down 2.62%), Persistent Systems (down 2.11%), Tech Mahindra (down 0.9%), Wipro (down 0.85%) and Tata Consultancy Services (down 0.81%) were the top losers. Among the other losers were Oracle Financial Services Software (down 0.45%), HCL Technologies (down 0.33%), Mphasis (down 0.28%) declined.
Sentiment weakened after the US Federal Reserve kept interest rates unchanged on Wednesday, but signalled continued concerns over inflation. Policymakers indicated that borrowing costs could remain higher for longer as inflation stays above the central bank's 2% target.
The cautious outlook weighed on Indian IT stocks, which derive a significant share of their revenue from North America. Investors worried that elevated interest rates could dampen discretionary technology spending by enterprises, affecting demand for IT services.
HFCL hit an upper circuit of 5% after the company announced that it has secured a contract worth approximately Rs 2,666.09 crore from Rail Vikas Nigam (RVNL) for the BharatNet Phase-III project in the Uttar Pradesh (West) Telecom Circle.
FSN E-Commerce Ventures, the parent of Nykaa, jumped 5.85% after the company outlined its FY30 growth strategy. At its Annual Investor Day 2026, Nykaa outlined plans to deliver 2-3 times revenue growth and 4-5 times EBITDA growth by FY30, supported by operating leverage, capital-efficient investments and margin expansion. The company is also targeting a return on capital employed (ROCE) of over 40%.
The beauty business, which exited FY26 with GMV of around Rs 15,000 crore, aims to grow GMV by 2-3 times by FY30. Nykaa Fashion, which reported FY26 GMV of Rs 4,954 crore, is targeting 3-3.5 times GMV growth by FY30 with potential high single-digit EBITDA margins and progressing towards 10%+ steady-state profitability. House of Nykaa, the company's portfolio of beauty brands, is aiming to surpass Rs 5,000 crore in net sales value by FY30. Superstore by Nykaa, the company's B2B distribution platform, plans to cross Rs 3,500 crore GMV by FY30.
JBM Auto added 2.12% after the company’s subsidiary JBM ECOLIFE Mobility, has successfully secured a Rs 750 crore long term strategic investment from Motilal Oswal Alternates, the alternative investment arm of Motilal Oswal Group. The investment will provide growth capital to accelerate JBM Ecolife’s electric bus deployment and strengthen sustainable public transportation infrastructure across India.
Mobavenue AI Tech shed 0.79% after the company said that it has secured a new international order worth approximately Rs 10.02 crore through its wholly owned UK subsidiary, Mobavenue Global Holdings. The engagement will be executed through the company's AI-powered consumer growth and technology platforms to support the customer's digital growth objectives.
Lupin rose 2.83% after launching Azilsartan Medoxomil Tablets, 40 mg and 80 mg, in the United States following approval of its abbreviated new drug application (ANDA) by the US Food and Drug Administration (USFDA).
Lemon Tree Hotels added 3.32% after the company said that it has announced the opening of a new hotel in Sri Ganganagar, marking the hospitality chain's entry into the city and strengthening its footprint in Rajasthan.
Kirloskar Ferrous Industries (KFIL) rallied 7.20% after it has secured an international export order valued at around $13.51 million from a buyer based in London, United Kingdom. Under the contract, the company will supply 30,000 metric tonnes (±5%) of basic-grade pig iron on a Free on Board (FOB) basis. The order has been awarded by an international entity and is scheduled for execution with the final shipment to be completed by August 15, 2026.
Global Market:
The Dow Jones index futures were up 193 points, indicating a positive opening in the US stocks today.
Most European market declined ahead of interest rate decisions from the Bank of England and the Swiss National Bank, both scheduled later in the day.
Meanwhile, official data released on Thursday showed that the U.K.'s unemployment rate eased to 4.9% in the three months to April from 5.0% in the preceding period.
Asian market ended mixed on Thursday as the US Federal Reserve indicated the possibility of a rate hike this year.
The scope of the Contract includes (i)Supply of telecom equipment and related accessories with installation & commissioning, (ii) Creation of Optical Fiber Cable Telecom Network and (iii) Maintenance of the project for a period of 10 years, including a 1-year warranty period.
This contract is in addition to the earlier contract of Rs 2,167.65 crore awarded to the company by RVNL for BharatNet Phase-III projects in the Uttar Pradesh (East) and Uttar Pradesh (West) Telecom Circles.
Sterlite Technologies Ltd fell 4.99% today to trade at Rs 619.35. The BSE Telecommunication index is down 0.34% to quote at 3673.38. The index is up 15.71 % over last one month. Among the other constituents of the index, HFCL Ltd decreased 3.02% on the day. The BSE Telecommunication index went up 21.97 % over last one year compared to the 8.36% fall in benchmark SENSEX.
Sterlite Technologies Ltd has added 81.47% over last one month compared to 15.71% gain in BSE Telecommunication index and 4.27% drop in the SENSEX. On the BSE, 83659 shares were traded in the counter so far compared with average daily volumes of 6.11 lakh shares in the past one month. The stock hit a record high of Rs 651.9 on 04 Jun 2026. The stock hit a 52-week low of Rs 72.97 on 04 Jun 2025.
The Company had earlier undertaken the implementation of the Secure OPS Network for Indian defence forces under a project awarded by RailTel. The Company has successfully completed the design, supply, installation, and commissioning of one central data centre and 120 mini data centres at Indian defence establishments across the Country. The scope of the project included establishment of a secure defence communication network comprising hardware, software, and data centre infrastructure, along with AI-enabled network security, and was executed in accordance with the stipulated contractual requirements and prescribed technical and security specifications.
Post completion of the warranty period, RailTel has now issued the aforesaid purchase order for undertaking the AMC of the project. Under this AMC contract, the Company will provide end-to-end maintenance support services aimed at ensuring high availability, reliability, and security of the network infrastructure supporting critical defence communication operations. The scope of work includes preventive and corrective maintenance, network monitoring, incident management, performance optimization, and 24x7 technical support services.
According to the company, the AMC will be executed over a five-year period ending in January 2031. HFCL also clarified that neither its promoters nor promoter group entities have any interest in the awarding authority and that the contract does not constitute a related-party transaction.
HFCL stated that it had previously executed the implementation of the Secure OPS Network project for Indian defence forces under a contract awarded by RailTel. As part of the project, the company successfully completed the design, supply, installation, and commissioning of one central data centre and 120 mini data centres across defence establishments nationwide.
The original project involved the establishment of a secure defence communication network comprising hardware, software, and data centre infrastructure, along with AI-enabled network security systems. The company said the project was executed in line with prescribed contractual, technical, and security requirements.
Following the completion of the warranty period, RailTel has now awarded HFCL the AMC contract to provide end-to-end maintenance support services aimed at ensuring the availability, reliability, and security of the network infrastructure supporting critical defence communication operations. The scope of the AMC includes preventive and corrective maintenance, network monitoring, incident management, performance optimisation, and 24x7 technical support services.
RailTel Corporation of India was incorporated in 2000, with the objective of creating nationwide broadband and VPN services, telecom, and multimedia networks to modernize the train control operation and safety system of Indian Railways. The company’s standalone net profit jumped 35.7% to Rs 143.52 crore in Q4 FY26, compared with Rs 105.78 crore in Q4 FY25. Revenue from operations rose 27.6% YoY to Rs 1,668.86 crore in Q4 FY26. The counter rose 0.20% to Rs 325 on the BSE.
“We are pleased to inform all stakeholders that the company has secured an export order worth around $11.07 million (equivalent to about Rs 106.19 crore) for the supply of optical fiber cables, through its overseas wholly owned subsidiary, from a renowned international customer,” the company said in an exchange filing.
HFCL is a diversified telecom infrastructure enabler with businesses spanning telecom infrastructure development, system integration, and the manufacture and supply of high-end telecom equipment, optical fiber, and optical fiber cables (OFC).
On a consolidated basis, HFCL reported net profit of Rs 178.50 crore in Q4 March 2026 as against net loss of Rs 81.43 crore in Q4 March 2025. Net sales surged 127.81% YoY to Rs 1824.12 crore in Q4 FY26.
Shares of HFCL fell 2.20% to Rs 144.80 on the BSE.
This initiative forms part of HFCL's long-term strategic expansion into high-value defence manufacturing, aligned with India's national objective of achieving self-reliance (Aatmanirbharta) in defence production.