JSW Infra, Syrma SGS, Vedanta, Info Edge, among buzzing stocks as SENSEX, NIFTY50 tank 1%

The Indian benchmark indices, SENSEX and NIFTY50, declined in the afternoon session on Tuesday, June 23, amid a sharp selloff in Korean and Japanese benchmark indices in a few minutes at noon.

The South Korean benchmark KOSPI index hit 8% circuit breaker levels after heavy selling in its chip-making stocks. Similarly, the Japanese benchmark indices plunged 3%, taking cues from the selloff in Korean markets.

The SENSEX tanked as much as 0.77% to touch an intraday low of 76,501.52, while the NIFTY50 reached the session’s low of 23,917.30.

At 12:58 PM, the S&P BSE SENSEX slumped by 521.57 points, or 0.68%, to trade at 76,572.50. NSE’s NIFTY50 stood at 23,932.50, marking a 170.04-point, or 0.71% drop.

On Monday, the foreign institutional investors (FIIs) sold shares worth ₹635.91 crore, while the domestic institutional investors (DIIs) purchased equities worth ₹1,035.72 crore on a net basis, according to exchange data.

Buzzing stocks on June 23: Check list

Pharma stocks like Piramal Pharma, Gland Pharma, Cipla, Alkem, and Zydus were among several others that surged on Tuesday, June 23, following reports that the United States Food and Drug Administration (US FDA) approached Indian firms for cancer drug supply.

According to a Mint report citing officials aware of the development, the US FDA reached out to the Indian Drug Manufacturers’ Association (IDMA) to identify potential Indian pharmaceutical manufacturers that are capable of supplying cancer medicine to the United States.

The report also mentioned that the US FDA’s approach to the Indian pharma body is to acquire a supply of ifosfamide, which is used to treat testicular, bladder and lung cancer among patients.

“The US FDA is interested in information from manufacturers that are currently producing or have the capability to produce these products for any market,” according to an IDMA communication cited in the news portal’s report.

JSW Infrastructure shares gained 3.6% to touch an intraday high of ₹318.40 apiece on the National Stock Exchange (NSE) on Tuesday, June 23, a day after the company said it plans to raise funds through a qualified institutional placement (QIP).

The company said that its board has approved the launch of QIP, which comprises a fresh issue of equity shares along with an offer for sale (OFS) by the promoter selling shareholder.

JSW Infrastructure said that the proposed offer will comprise a fresh issue of up to 23,00,00,000 equity shares through a QIP, along with an offer for sale of up to 3,32,52,427 equity shares by the promoter selling shareholder.

The stock of Bharti Airtel was trading in the negative territory, despite the company announced increasing its stake in the Africa business entity to 79%.

The company announced through an exchange filing that it has completed the acquisition of 595,204,251 shares (about 16.3% stake) of Airtel Africa from ICIL on June 22, 2026. Consequently, the company’s effective stake in Airtel Africa has increased to approximately 79%.

The share swap deal, worth ₹28,200 crore, was approved by nearly 100% of the shareholders to transfer Bharti Airtel’s shares to the promoter group entity Indian Continent Investment Ltd (ICIL). Consequently, ICIL’s stake in Bharti Airtel has now increased 3.2% from less than 1% earlier.

Shares of Vedanta declined as much as 8.77% to ₹279 apiece on the NSE on Tuesday, following a large block deal involving the company's shares.

According to market reports, around 7.3 crore shares worth nearly ₹2,149 crore changed hands through block transactions at ₹292 per share.

Earlier, reports had indicated that promoter entity Twinstar Holdings was planning to sell up to 6.5 crore shares, representing a 1.7% stake in Vedanta, through block deals. The floor price for the transaction was set at ₹291 per share, implying a deal size of around ₹1,900 crore.

CITI was reported to be managing the transaction, according to the term sheet.

Shares of electronics manufacturing services (EMS) firm Syrma SGS Technology climbed as much as 6.4% to hit a record high of ₹1,422 per unit on June 23.

The surge in its stock came after the company signed a pact with another firm, Kaga Electronics, to form a joint venture focusing on production for Japanese clients, a regulatory filing said on Monday.

Syrma SGS will hold a 60% stake in the joint venture company (JVCo), with the remaining 40% held by the Indian arm of the Japanese firm Kaga Electronics.

The company entered into an agreement to establish, develop, and operate a technologically advanced, state-of-the-art EMS manufacturing facility in India, focusing on Japanese clients.

Sterling and Wilson Renewable’s stock rallied over 7% during the market hours on Tuesday, after reports suggested that the company had secured a $560 million EPC order contract for a solar power project in Egypt, in collaboration with Hassan Allam Holding.

According to a Saudi Gulf Projects report, Hassan Allam Holding’s subsidiary, Hassan Allam Construction and Sterling and Wilson Renewable Energy, in a joint venture, was awarded an engineering, procurement, and construction (EPC) order for the $560 million West Minya Solar Power Project in Egypt.

As per the details of the deal, the EPC project will feature 1,000 MWac (megawatts of alternating current) of solar power generating capacity, along with a 600 MWh battery energy storage system (BESS).

The joint venture company will work on the installation of photovoltaic generation facilities, battery energy storage infrastructure, grid interconnection works, transmission facilities, and all associated balance-of-plant and supporting systems required for the project.

Shares of Info Edge (India), the parent company of Naukri, surged as much as 4% to ₹1,024.80 apiece on the NSE in early trade on Tuesday, June 23, after the company shared an update on its investments in artificial intelligence (AI), deeptech and consumer technology startups through both direct investments and its alternative investment funds (AIFs).

In a letter to shareholders, the company said it has invested ₹614 crore across 28 AI startups so far, with the portfolio now valued at ₹1,268 crore. This translates into a 2.1x multiple on invested capital and a gross internal rate of return (IRR) of nearly 31%.