Infosys, Rajesh Exports, TechM, among buzzing stocks as SENSEX jumps over 650 pts, NIFTY rises 1% in noon deals

The Indian benchmark indices, SENSEX and NIFTY50, were trading with gains during the afternoon session on Wednesday, June 24, amid buying in cement and banking stocks. Furthermore, a fall in global crude oil prices and the strength of the rupee against the US dollar also boosted investor sentiment.

The SENSEX rallied as much as 1.02% to hit an intraday high of 76,976.37. Meanwhile, the NIFTY50 gained as much as 0.8% to touch the session’s peak of 24,013.85.

At 12:55 PM, the S&P BSE SENSEX was trading 685.44 points, or 0.90% higher at 76,886.12, while NSE’s NIFTY50 stood at 23,995.25, reflecting a 171.15 points, or 0.72% increase.

Buzzing stocks on June 24: Check list

The banking stocks witnessed a strong buying interest, with Nifty Bank gaining 1.6% to an intraday high of 58,128.65 as market sentiment turned positive.

All 14 constituents on the Nifty Bank were trading in the green, with AU Small Finance Bank taking the lead. ICICI Bank, HDFC Bank, IndusInd Bank, Yes Bank, and State Bank of India were the other top contributors.

The Reserve Bank of India (RBI) on June 23 injected ₹1,41,171 crore in transient liquidity into the banking system through a seven-day variable rate repo (VRR) auction. The funds were infused at a cut-off and weighted average rate of 5.26%.

Shares of Tech Mahindra surged as much as 3.42% to hit an intraday high of ₹1,464 apiece on the National Stock Exchange (NSE) on Wednesday, June 25, as it announced the expansion of its partnership with Telefonica Germany to build a private cloud platform.

This is aimed at driving cloud-native transformation and providing Platform-as-a-Service (PaaS) for technology and enterprise business growth, Tech Mahindra said in a release.

"The partnership will combine Tech Mahindra's platform engineering and AI-first operations with Telefonica Germany's telecom infrastructure modernisation objectives to create PaaS, laying the foundations for a full-scale private cloud," the release further said.

Rajesh Exports stock declined 5% to hit a lower circuit of ₹102.12 apiece on Wednesday, June 24, a day after the Enforcement Directorate conducted searches at multiple locations of the company.

The gold refining and jewellery manufacturing firm came under enhanced scrutiny following SEBI's allegation of a massive financial fraud.

ED officials said nine premises linked to the Bengaluru-headquartered company were searched under the provisions of the Foreign Exchange Management Act (FEMA). The premises are located in Bengaluru and Mumbai, they said.

Shares of Infosys jumped as much as 2.37% to hit the session’s peak of ₹1,053.70 per unit, following its 45th annual general meeting (AGM), which was held on June 23.

Addressing shareholders at the AGM, Nandan Nilekani, Infosys’ co-founder and Chairman, said that the company is keen to tap into a massive $400 billion artificial intelligence (AI) first service opportunity by 2030. Furthermore, he asserted that AI will not replace IT firms but rather "amplify" them.

Nilekani tackled what he termed the "existential question" facing the IT industry amid rapid technological disruption. "More than three years after GenAI was launched, Infosys is more relevant than ever before and well-positioned for the decade ahead. While we embrace the best coding tools and improve our productivity, there is much more to do in the software development life cycle,” he said.

Separately on Tuesday, Infosys announced the expansion of its multi-year collaboration with GlobalFoundries (GF), a leading semiconductor manufacturer, to deliver AI-led managed services across GF’s enterprise IT landscape. Through this collaboration, Infosys will manage GF’s end-to-end application, infrastructure, data, and service desk operations.

The board of directors of Power Grid Corp announced its plans to raise $500 million from domestic or foreign banks, according to an exchange filing.

As per the NSE filing, Power Grid Corp will be hosting a board meeting on Friday, June 26, to consider the fundraising proposal as the firm aims to raise $500 million through External Commercial Borrowings (ECB) or a bond issue move.

“This is to inform that a meeting of the board of directors of Power Grid is scheduled to be held on Friday, June 26, 2026, to inter alia consider and approve raising foreign currency funds through External Commercial Borrowings (ECB) up to $500 million from Domestic/Foreign Banks,” the company informed the stock exchanges.

The Centre's divestment drive gathered further momentum on Wednesday, June 24, as the offer-for-sale (OFS) in Indian Railway Finance Corporation (IRFC) opened for non-retail investors. Through the OFS, the government is looking to offload up to a 2% stake in the railway financing company, making it the sixth divestment transaction of FY27.

Amid the stake sale, IRFC shares came under pressure, falling as much as 5.13% to an intraday low of ₹93.60 apiece on the NSE.

Wipro announced the expansion of its partnership with Palo Alto Networks to offer artificial intelligence (AI) driven Managed Detection and Response (MDR) services in a regulatory filing dated June 23.

The partnership will bring together Palo Alto Networks’ Cortex XSIAM and Wipro’s managed security services capabilities, CyberShield, in a more focused offering for modern security operations.

Separately, the IT services company on Tuesday, post-market hours, said the completion of its acquisition of select customer contracts of Alpha Net Consulting LLC and its subsidiaries has been delayed.

The transaction, which was earlier expected to close by June 30, 2026, is now anticipated to be completed on or before September 30, 2026, the company said in an exchange filing.

Shares of Clay Craft India Ltd started trading at ₹211 per share on the SME platform of the National Stock Exchange, Emerge.

It listed at a premium of 3.94% over the IPO issue price of ₹203 per share.

The ₹110.11 crore IPO was exclusively a fresh issuance of 54.24 lakh shares, without an offer for sale (OFS) component. The funds generated will be utilised for capital expenditure towards setting up an additional manufacturing facility and general corporate purposes.