NIFTY, SENSEX slide; L&T, Waaree Renewable, Jindal Stainless, Prostarm Info Systems among buzzing stocks

Equity benchmark indices SENSEX and NIFTY slipped on Tuesday amid uncertainty on the geopolitical and global trade front. SENSEX declined 446.86 points to 80,926, while the NIFTY dipped 127 points or 0.52%, to 24,587 at 12:26 pm.

From the NIFTY pack, Bajaj Finserv, Coal India, Adani Ports, NTPC, HDFC Life, Apollo Hospital, Power Grid, Adani Enterprises, and UltraTech Cement were among the biggest laggards.

Grasim, Mahindra & Mahindra, Bajaj Auto, Shriram Finance, Reliance, HCLTech and Hindalco were among the gainers.

Buzzing stocks on June 3

It has secured an engineering, procurement, and construction (EPC) order for the Rajasthan Rural Water Supply and Fluorosis Mitigation Project– Phase II, Package-1. Another project pertains to strengthening and rehabilitating of water supply system on Ajmer's Kekri-Sarwar sector.

Despite the order, the stock is trading flat with a positive bias, up 0.07%, at ₹3,648.2 apiece on the National Stock Exchange.

The order size is ₹346.33 crore and is scheduled to be completed in the financial year 2025-26.

The stock started the trade at ₹120, registering a jump of 14.28% from the issue price on the NSE. At 12:28 pm, it was trading at 2.92% higher at ₹123.5.

At the BSE, the stock listed at ₹125, up 19%.

The ₹168-crore initial share sale, which was solely a fresh issue, was subscribed 97.20 times due to strong participation from institutional investors.

The stock is trading 3% higher at ₹662.65 apiece on the NSE.

"The Company expects to procure ~700 million units from Oyster Green annually, which would result in significant savings vis-a-vis the power alternatively sourced from the grid. Moreover, power procurement from this plant is in alignment with the Company’s commitment to power future growth through renewable sources of energy and reach net zero carbon emissions by 2050," the company said, adding that the equity stake is acquired at a cost of ₹79.20 crore.

"We have initiated a strategic capacity consolidation and are pursuing expansion at our Nanjangud Brewery in Mysuru, where we are making significant investments to scale our supply chain efficiencies," the exchange filing said.

The shutdown of the Mangalore Brewery will not impact the company's business performance, it added.