Stocks to Watch: IRFC, IDFC First Bank, RVNL Among Stocks in Focus Today

Indian Stock Market Expected to Open Higher on Wednesday

The Indian stock market is expected to open higher on Wednesday, driven by positive global market cues. The Nifty index is trading near the 25,669 mark, reflecting a premium of about 69 points over the previous close of Nifty futures.

Market Trends and Outlook

Indian equity markets are likely to see a flat to mildly positive start, tracking a modest overnight recovery on Wall Street and a constructive tone across Asian markets. However, the overall undertone is expected to remain cautious, as sentiment stays subdued amid persistent US-Iran geopolitical tensions and firm crude oil prices, which continue to pose a macroeconomic challenge for India. Ongoing concerns around AI-driven disruptions in global technology stocks are also weighing on broader risk appetite.

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Market Performance on Tuesday

On Tuesday, the Indian market ended with steep losses amid broad-based selling pressure, with the Nifty 50 slipping below the 25,500 level. The Sensex plunged 1,068.74 points, or 1.28%, to settle at 82,225.92, while the Nifty 50 declined 288.35 points, or 1.12%, to close at 25,424.65.

Stocks to Watch

The following stocks are likely to remain in focus on Wednesday:

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• IRFC: The government will divest up to a 4% stake in Indian Railway Finance Corporation (IRFC) through an offer for sale (OFS), which will open on Wednesday for non-retail investors.
• IDFC First Bank: The Government of Haryana has set up a high-level committee to investigate the unauthorized transfer of funds from IDFC First Bank and AU Small Finance Bank.
• RVNL: Rail Vikas Nigam Limited (RVNL) has won a contract worth ₹270.22 crore from Central Railway to establish a 220/132/55 KV traction substation.
• Lupin: The company has secured approval from the US Food and Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) for Brivaracetam Oral Solution 10 mg/mL.
• Waaree Energies: The company's wholly owned subsidiary, Waaree Forever Energies Private Ltd, has been awarded a Letter of Award by Solar Energy Corporation of India Limited for developing a 300 MW wind power project.
• Dr Reddy's Lab: The company has received a communication from the US Securities and Exchange Commission (SEC) indicating that the regulator has concluded its investigation into the alleged improper payments.
• Hindalco: The company's wholly owned subsidiary, Novelis Inc., has entered into a subscription agreement with AV Minerals.
• Hexaware Technologies: The company has broadened its partnership with Amazon Web Services (AWS) to offer AI-powered software development lifecycle (SDLC) capabilities to enterprises globally.
• Power Grid Corporation of India: The Cabinet Committee on Economic Affairs has raised the allowable equity investment ceiling for Power Grid Corporation of India from ₹5,000 crore per subsidiary to ₹7,500 crore per subsidiary.
• HG Infra Engineering: The company has emerged as the lowest bidder for a ₹1,582 crore project awarded by the National Highways Authority of India.