Sensex Today | Stock Market LIVE Updates: Nifty 50 surges towards 24,800; Dr. Reddy's shares rise

HSBC says that a diabetes treatment drug has the potential to significantly boost Dr Reddy’s performance, following an upgrade in its rating.

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Dipan Mehta, Director, Elixir Equities (fundamental)

On Power Space

By and large, the renewable power equipment manufacturers are the ones we should be focusing on. They are sitting on a very good order book position. And at the same time, capacities are coming up pretty well over there. But within that, we have the solar equipment, and we have the wind equipment. So within the two segments, we prefer the wind equipment companies. There are only two listed companies, Suzlon Energy and Inox Wind.

A disclosure, we and our clients are invested in them. I think the threat of competition is least for the wind equipment manufacturers. Basically, the Chinese cannot come and dump any of their equipment, and it cannot easily set up capacity the way we are seeing happening in solar modules and in solar cells.

And look at the order book position of Suzlon and Inox Wind – it is like a three- or four-year depth order book position and still growing. And now valuations have also become reasonable, mainly because earnings have shot up in the last three, four quarters or so.

So, within the entire power space, and even within the entire capital goods space, these two companies are our top bets. Having said that, it’s a disclosure; we are invested in these companies, so our views could be biased.

Rajiv Batra of JPMorgan said foreign portfolio inflows into India have been inconsistent as overall flows to emerging markets remain negative.

He noted that developed markets in Europe have been the first destination for capital exiting the US.

However, even a slight reduction in US allocations could lead to increased flows into emerging markets, including India.

Dipan Mehta, Director, Elixir Equities (fundamental)

On Dalmia Bharat

I think it’s one of the largest cement players with an aggressive expansion plan. And as I said, we are getting constructive on the cement industry, although a bit disappointed with the numbers which came from Ultratech and Shree Cement.

But yes, Dalmia Bharat also certainly is one of the stocks which may do well. But within the cement space, the top picks still remain ACC and Ambuja, and especially ACC, where there’s still scope for improvement in efficiencies, which may result in better bottom line and expansion of capacity as well.

But if you’re holding shares of any of the cement companies, the top 5-6 players or so, you can expect decent returns. We have seen an uptick in government spending, and real estate is also revving up. In terms of the number of projects they have announced and launched in the last six months, all of them should start going into the construction phase, so that should be supportive for cement demand, and all our infrastructure spending also will pick up.

And the most important thing about cement companies is the base effect will help them from this quarter onwards, although June quarter is one of the stronger quarters, and then we have the monsoon season, but the base effect will certainly benefit and optically the numbers for the cement companies for the upcoming earning season will look pretty decent.

Garden Reach Shipbuilders & Engineers Limited has signed a Memorandum of Intent (MoI) with Germany’s Carsten Rehder to build four multi-purpose vessels.

#CNBCTV18Market | Pharma stocks higher, #ZydusLife up over 2% pic.twitter.com/q2TmdEBgXW

— CNBC-TV18 (@CNBCTV18Live) June 5, 2025

Here are a couple of stock recommendations by Mitessh Thakkar, Technical Analyst

Buy Astral with a stop loss of ₹1,500 and a target of ₹1,570

Buy CESC with a stop loss of ₹165 and a target of ₹178

Buy Jio Financial with a stop loss of ₹287 and a target of ₹300

Buy JSW Energy with a stop loss of ₹500 and a target of ₹530

Disclosure: Reliance Industries Ltd, which owns Jio, is the sole beneficiary of Independent Media Trust that controls Network18, the parent company of CNBCTV18.com.

According to sources, the Reserve Bank of India (RBI) is considering loosening the rules to allow foreign financial institutions (like investment firms or banks from other countries) to own a larger share in Indian banks.

Current Rules:

Foreign institutions can currently own up to 15% in an Indian bank.

If their stake goes above 5%, they must get RBI approval.

Recently, the RBI made exceptions for companies like Fairfax and SMBC, allowing them to own more than 15% on a case-by-case basis.

What’s Next:

After reaching an internal agreement, the RBI may open the topic for public discussion (i.e., consult stakeholders before making a rule change).

The review is not expected to include giving bank licences to private manufacturing companies.

Here are a couple of stock recommendations by Sudarshan Sukhani of Technical Trends

Buy Jubilant Foods with a stop loss of ₹673

Buy LIC Housing Finance with a stop loss of ₹591

Buy Torrent Power with a stop loss of ₹1,394

Buy Gujarat Gas with a stop loss of ₹464

#CNBCTV18Market | #Market opens higher, all the major indices in the green pic.twitter.com/fYWugoshWk

— CNBC-TV18 (@CNBCTV18Live) June 5, 2025

#RupeeCheck | #Rupee opens at 85.86/$ Vs Wednesday’s close of 85.90/$ pic.twitter.com/p3QHUzJwZe

— CNBC-TV18 (@CNBCTV18Live) June 5, 2025

HSBC believes M&M’s electric vehicle business has the potential to exceed expectations and drive the stock upward.

Read Full Article#JustIn | #WelspunCorp bags repeat export order secured for 50 kms of LSAW pipes for critical #WestAsia offshore proj

New orders worth ₹450 cr secured for India Pipes facility since May 7 announcement pic.twitter.com/5oh3g5VjRV

— CNBC-TV18 (@CNBCTV18Live) June 5, 2025

Dr Reddy’s Laboratories has partnered with Alvotech to jointly develop a biosimilar version of Keytruda for international markets.

Alert: Keytruda is indicated for the treatment of numerous cancer types

#CNBCTV18Market | Here’s a list of global market cues that are in focus going into trade today pic.twitter.com/NSmVRpMxuA

— CNBC-TV18 (@CNBCTV18Live) June 5, 2025

Citi On PB Fintech

Brokerage firm Jefferies, in a note on Thursday, June 5, has recommended Hindustan Aeronautics Ltd. (HAL), Siemens Ltd., Larsen & Toubro Ltd. and KEI Industries Ltd.as its top four picks within the engineering and construction space.

#JustIn | #AngelOne May Update: Gross client acquisition up 1.70% MoM & down 43.10% YoY at 0.50 m

Client base up 1.5% MoM & up 34.1% YoY at 31.95 m

Here’s more???? pic.twitter.com/jOcETHbZO7

— CNBC-TV18 (@CNBCTV18Live) June 5, 2025

Jefferies On Welspun Living

Jefferies On Telecom Sector

Jefferies On Engineering & Construction#CNBCTV18Market | #JPMorgan on #RIL: Earnings recovery ahead, consumer biz to drive bottom-line growth pic.twitter.com/tq2PSFTekl

— CNBC-TV18 (@CNBCTV18Live) June 5, 2025

Gold held gains after weaker-than-expected US data reinforced expectations that the Federal Reserve will cut interest rates at least twice this year to prevent a recession.

Emerging-market assets look poised to deliver “several percent” returns this year on expectations of a continued decline in the US dollar, according to Bofa Securities. BofA Securities is bullish on the Eastern European currencies and equities. In fixed income, Brazil remains its top pick as interest rates are very high in the South American nation, and rate cuts could begin by the end of the year.

NTPC Green Energy wins 1,000 MW solar project in Uttar Pradesh Power Corporation Limited (UPPCL) auction.

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Sunil Singhania’s Abakkus Emerging Opportunities Fund was one of the buyers in the block deal that took place in Indegene Ltd. on Wednesday, June 4.

Other buyers in the block deal included East Bridge Capital Master Fund, Societe Generale, Smallcap World Fund, and PI Opportunities AIF.

#CNBCTV18Market | #GIFTNifty flat, indicates a muted start for the Indian market pic.twitter.com/IEk1VBHAzU

— CNBC-TV18 (@CNBCTV18Live) June 5, 2025

HAL, REC, YES Bank, Gland Pharma, Vedanta, Diamond Power Infrastructure, PowerGrid, Waaree Energies, and more. These are the stocks to watch for today.

Thursday Cues

Asian markets trade mixed after weak US services & private employment data

ADP report: Payrolls rise 37,000 vs estimate of 110,000

May ISM Services PMI At 49.9 Vs Estimate Of 52

ECB expected to cut rates today in the face of US tariff challenges

ECB likely to lower rate by 25 bps; RBI in focus tomorrow

OFS Action on D-Street

Indosolar : Promoter Waaree Energies To Sell 1.15% Eq Via Offer For Sale (OFS)

Diamond Power Infra: Promoters Monarch Infraparks & GESC To Sell Up To 5.98% Eq Via OFS

Nifty seeing buying at lower end of range close to 24500

Fund Flow

FIIs Net Sell ₹1,076.18 Cr In Equities

DIIs Net Buy ₹2,566.82 Cr In Equities

Brent traded below $65 a barrel after losing 1.2% in the previous session, while West Texas Intermediate was under $63.

Oil extended declines on signs Saudi Arabia is seeking another big production increase at next month’s OPEC+ meeting, in a bid for market share that could worsen a glut expected later this year.

TRADE SET UP

Equities ended flat; SPX +0.01%, Nasdaq +0.32%

A major theme was weaker macro data (ADP + ISM Services)

US Treasury 10y yield shed 10 bps to 4.36%

Trump again called on ‘too late Powell’ to cut rates; “he is unbelievable!”

Dollar Index -0.43% to 98.80

Brent Oil -1.1% to $64.88

News report: ‘Saudis want more super-size OPEC+ hikes in push for mkt share’

President Trump spoke with Russian President Putin

Trump: Had a “good conversation” with Russian President Putin, but it was “not a conversation that will lead to immediate peace… President Putin said, and very strongly, that he will have to respond to [Ukraine’s] recent attack on [Russia’s] airfields”

Nifty attempted to bounce from the lower end of range

Nifty trading in a broader range of 24,462-25,116

Nifty faces channel resistance at 24,750

On the way down, support at 24,462 & 24,324 (40-day EMA)

Bank Nifty support at 55,216 (20-day MA)

Bank Nifty resistance at recent high of 56,161