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Fresh business developments, expansion plans and acquisition updates could keep SJVN, Balkrishna Industries and Akhotia Polyesters in focus during Tuesday's trading session.
✨ Key Takeaways
The benchmark indices ended lower on Monday, June 29, after recording their longest weekly winning streak of 2026 in the previous session. Investor sentiment remained cautious amid concerns over a weak monsoon, which offset optimism arising from easing geopolitical tensions in the Middle East and softer crude oil prices.
The Nifty 50 opened on a flat note before slipping to an Intraday low of 23,924.55. The index eventually settled at 23,946.25, down 109.75 points or 0.46 per cent. The Sensex declined 372.10 points, or 0.48 per cent, to close at 76,728.37, snapping its two-session winning streak.
Against this backdrop, the following stocks are likely to remain in focus during Tuesday's trading session.
SJVN announced that it has signed Power Purchase Agreements (PPAs) with Gujarat Urja Vikas Nigam Limited (GUVNL) for the supply of electricity from three upcoming hydroelectric projects in Himachal Pradesh.
The agreements cover the 66 MW Dhaulasidh Hydroelectric Project, the 210 MW Luhri Stage-I Hydroelectric Project and the 382 MW Sunni Dam Hydroelectric Project.
According to the company, the agreements strengthen its portfolio of long-term power sale arrangements with major utilities across the country and further reinforce its position in India's clean energy transition. The development is expected to provide greater revenue visibility for the company from its upcoming generation assets.
Balkrishna Industries informed exchanges that it has successfully completed its carbon black expansion project, significantly increasing its production capacity.
The company's carbon black capacity has been expanded to 3,60,000 metric tonnes per annum (MTPA) from the existing 2,65,000 MTPA, with the addition of 95,000 MTPA capacity.
The expansion forms part of the company's growth strategy through 2030 and involved an investment of Rs 800 crore, funded entirely through internal accruals. Prior to the expansion, the existing capacity utilisation stood at 91 per cent, indicating strong demand for the company's products.
3. Akhotia Polyesters (India) Ltd
Akhotia Polyesters (India) informed investors that the completion timeline for its proposed acquisition of New Nexus FZ LLC, a Dubai-based entity, has been extended.
The company had earlier planned to complete the acquisition by June 30, 2026. However, owing to delays in receiving regulatory approvals, the transaction is now expected to be concluded on or before September 30, 2026.
The acquisition involves the purchase of a 100 per cent stake in New Nexus FZ LLC and remains subject to the completion of the required regulatory formalities.
Disclaimer: The article is for informational purposes only and not investment advice.