Redington, JSW Steel, DMart among buzzing stocks as SENSEX jumps over 270 pts, NIFTY above 23,200

The Indian benchmark indices, SENSEX and NIFTY50, advanced during the afternoon session on Tuesday, June 9, amid buying in banking stocks. Investor sentiment improved as crude oil prices eased, and the Israel-Iran ceasefire in West Asia.

The SENSEX advanced by as much as 0.7% to hit an intraday high of 74,035.41 during the opening bell. Meanwhile, the NIFTY50 reached the session’s peak of 23,259.45.

At 1:44 PM, the S&P BSE SENSEX gained by 271 points, or 0.37%, to trade at 73,795.26. NSE’s NIFTY50 stood at 23,217.35, reflecting a 94.35 points, or 0.41% jump.

Buzzing stocks on June 9: Check list

NIFTY PSU Bank and NIFTY Bank were among the top-performing sectoral indices during the afternoon session on June 9, as the Reserve Bank of India (RBI) on Monday introduced a US dollar-rupee forex swap facility for fresh FCNR (B) deposits mobilised by banks for a minimum tenor of three years and a maximum of five years to attract foreign capital. Foreign Currency Non-Resident (Bank) deposits are foreign currency term deposits maintained by non-resident Indians (NRIs).

Under the swap arrangement, a bank can sell US dollars in multiples of USD one million to the RBI and simultaneously agree to buy the same amount of US dollars at the end of the swap period, a central bank circular said.

This move is basically the RBI trying to pull more long-term foreign money into India by making FCNR deposits more attractive and liquid for banks. For banking stocks. This is generally mildly positive for banks, especially large ones.

** Bharti Airtel, Vodafone Idea**

Shares of telecom operators Bharti Airtel and Vodafone Idea were trading mixed on Tuesday, June 9, a day after the Bombay High Court quashed the central government's 2012 decision to levy a one-time spectrum charge for spectrum held above 6.2 megahertz (MHz) from 2008 onwards.

A bench of Justices Manish Pitale and Shreeram Shirsat also set aside the demand notices issued by the centre seeking recovery of the one-time spectrum charge (OTSC) while noting that the Union government has not been able to show any source of power to issue such a decision and the consequent demand notices.

The bench observed that the centre, under the garb of public interest, has acted beyond the term of the contract/licence between it and the telecom companies and has not been able to identify any source of power to issue the impugned decisions.

"We find that the government has not been able to justify its unilateral action of issuing the decision within the four corners of the terms and conditions of the contract/licence agreements or the relevant statutory provision and therefore the retrospective effect demonstrates its illegitimacy, rendering the same unsustainable and liable to be set aside," the court noted.

The stock of Redington, a major supply chain and distribution partner for Apple in India, the Middle East, Africa, and South Asia, surged as much as 4.99% to hit an intraday high of ₹241 apiece on the National Stock Exchange (NSE) on Tuesday, June 9.

This comes a day after Apple unveiled a major overhaul of its software ecosystem at its annual Worldwide Developers Conference (WWDC).

At WWDC2026, held at the Apple Park campus in Cupertino, California, the tech giant introduced a new artificial intelligence-powered Siri as the iPhone maker tries to catch up to rivals when it comes to AI.

Apple previewed the next generation of Apple Intelligence and introduced Siri AI, an entirely new version of Siri that the company said was “profoundly more intelligent, knowledgeable, and capable”.

Shares of JSW Steel jumped 1% on Tuesday morning, after the company announced its monthly business updates for May.

The company announced 15% YoY jump in consolidated crude steel production at 22.9 lakh tonnes.

Production was higher in May 2026, mainly due to full operations of the Dolvi unit (one of the blast furnaces was under planned maintenance shutdown in May 2025), and JVML operations fully ramped up.

Panacea Biotec stock rallied as much as 15.39% to hit a 52-week high of ₹638 apiece in early trade on the NSE on Tuesday, June 5, after announcing the launch of the EU-funded DENSTAR project.

Starting on June 1, the DENSTAR project will work to advance the licensure of the dengue vaccine DengiAll in sub-Saharan Africa and to facilitate its broader global use, according to a regulatory filing dated June 8.

The four-year initiative is funded under the Global Health European & Developing Countries Clinical Trials Partnership 3 Joint Undertaking (GH EDCTP3 JU) and is supported by the European Union.

The initiative aligns with the EDCTP3 mission to combat Neglected Tropical Diseases (NTDs), including dengue fever, and seeks to reduce the disease burden across Africa, the filing read.

Shares of Avenue Supermarts, the promoter of retail chain operator DMart, rose as much as 1.5% on Tuesday, June 9, after the company, in the post-market hours on Monday, informed the exchanges that it has invested ₹149.99 crore in its subsidiary Avenue E-Commerce.

Avenue Supermarts has subscribed to 4,32,90000 equity shares of ₹10 each of Avenue E-Commerce at an issue price of ₹34.65 per share.

Avenue Supermarts in an exchange filing said that Avenue E-Commerce was incorporated on 11th November, 2014 and is engaged in the business of online and multi-channel grocery retail under the brand name DMart Ready.

Polycab India’s stock jumped as much as 2.14% to hit an intraday high of ₹9,698 per equity share, as it announced the record date for its ₹47 per share dividend issue after the company’s shareholders meeting.

As per the NSE filing dated June 8, Polycab India’s board of directors has fixed Friday, June 19, as the official record date to determine the eligibility of the shareholders for the financial year ended 2025-26.

The dividend issue “would be paid subject to deduction of tax at source, as may be applicable, after June 30, 2026, to those persons or their mandates: whose names appear as Beneficial Owners as at the end of the business hours on Friday, June 19, 2026 (Record date),” the company informed the stock exchanges.

Grasim Industries shares gained 2% as it said it will invest ₹3,094 crore on the expansion of its Lyocell capacity at Harihar, Karnataka, under phase II.

The Board of Directors of Grasim Industries, a global leader in cellulosic fibres, in a meeting on Monday, approved a capex of ₹3,094 crore to expand Lyocell capacity at Harihar, Karnataka.

This will be financed through a "mix of internal accrual and borrowed funds."