Indian equity markets snapped a seven-session rally on Tuesday, with the Nifty 50 sliding 278 points or 1.16% to close at 23,824, the sharpest single-day fall in over two weeks. The session saw an intraday high of 24,135 before sellers stepped in hard, dragging the index to a low of 23,784. Profit booking emerged after the Nifty had rallied over 4% across the previous seven sessions, aided by moderating crude and easing FPI outflows. But global headwinds returned fast.
Wednesday’s session opens with a cautiously positive tone.
GIFT Nifty traded at 23,867, up 57 points, or 0.24%, signalling a positive start for Dalal Street. That said, the underlying setup remains fragile.
Technically, the Nifty found support at a rising trendline on the hourly chart. Resistance sits at 23,950–24,000, and crucial intraday support is at 23,700; break that, and serious selling could follow.
Market Mood: VIX Spikes, FIIs Buy Marginally
- India VIX surged 10.83% to settle at 14.23, signalling elevated fear in the market. A VIX above 14 on the day Nifty breaks below 24,000 is not a comfortable setup for bulls.
- On the flow side, FIIs were net buyers of Rs 17.90 crore in the cash segment while DIIs bought Rs 680.20 crore, providing a floor of sorts, but hardly enough to call it a reversal.
- Global cues are mixed. The Nasdaq and S&P 500 ended at more than one-week lows on Tuesday, pulled down by semiconductor stocks and rising concerns over US Federal Reserve hawkishness.
- Asian markets staged a cautious recovery overnight, S&P 500 futures edged up 0.2%, Hang Seng futures rose 0.8%, while Japan’s Topix slipped 0.4%.
- Oil extended losses, trading near four-month lows as tankers stranded in the Gulf since the Iran war began showing signs of movement through the Strait of Hormuz.
- Gold slipped further as dollar strength on rate-hike bets weighed on the metal.
- On F&O, Kaynes Securities remains in the ban period after crossing 95% of the market-wide position limit.
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Vedanta: Twin Star Dumps Rs 1,896 Cr Worth Shares, Stock Hits Rs 279
The headline corporate story of Tuesday. Twin Star Holdings, the promoter entity of Vedanta, sold up to 6.5 crore shares via block deals at a floor price of Rs 291 per share, a discount of 4.9% to Monday’s closing price of Rs 305.90. Exchange data put the final count at 6.51 crore shares at Rs 291.36 apiece, totalling Rs 1,896 crore.
Bad timing made it worse. MSCI officially removed Vedanta from its Global Standard Indexes on June 22, 2026, the very day before the block deal, due to its recent demerger, forcing passive funds and institutional investors to exit positions simultaneously. Two large supply events hitting back-to-back sent Vedanta down 8.3% intraday to Rs 279.
As of March 31, 2026, Twin Star Holdings held a 40.02% stake, with the broader promoter group at 56.38%. The sale represents roughly 1.8% of total equity.
Analysts say the key watch now is whether block deal proceeds are used for group-level debt reduction, that would be the only near-term catalyst to rebuild market confidence.
| Detail | Figure |
|---|---|
| Shares sold | 6.51 crore |
| Price | Rs 291.36/share |
| Deal value | Rs 1,896 crore |
| Intraday low | Rs 279 |
| Promoter stake (pre-deal) | 56.38% |
Bajaj Auto: Ransomware Attack Detected at 8 AM, Subsidiary Also Hit
A different kind of shock for Bajaj Auto. The company reported a cybersecurity incident, a ransomware attack, that hit its systems and those of its wholly owned subsidiary Bajaj Auto Technology Limited at approximately 8:00 AM IST on June 23.
Internal technical teams and external cybersecurity experts mobilised immediately, activating containment protocols to limit spread and mitigate operational impact.
Bajaj Auto notified CERT-In under the IT Act, 2000, and disclosed under SEBI LODR Regulation 30.
The company says containment has been successful so far.
However, no clarity has been provided on whether manufacturing operations, supply chains, or dealer networks were materially disrupted, and no threat actor or ransom demand has been publicly identified. Investors should watch for follow-up filings in the next 48–72 hours.
IRCTC: CMD Resigns After 2.5 Years, Margin Pressure Already Visible
IRCTC announced the resignation of CMD Sanjay Kumar Jain effective July 20, 2026, following Ministry of Railways approval via a letter dated June 22, 2026. Jain cited personal grounds. He had overseen IRCTC’s progression from Mini Ratna to Nav Ratna and from Schedule B to Schedule A.
The timing is sensitive.
IRCTC’s EBITDA margin contracted to 27.33% in Q4 FY26 from 30.39% in Q4 FY25, and PAT fell 8.88% year-on-year to Rs 326 crore.
The Railway Board is expected to announce an interim CMD arrangement shortly.
Honasa Consumer: Acquires 58% in Fluence Pharma for Rs 135 Cr
Mamaearth parent Honasa Consumer is diversifying fast.
The board approved a 58% stake acquisition in nutraceuticals firm Fluence Pharma at an enterprise value of Rs 135 crore, with the remaining 42% to be acquired in two tranches over five to seven years. Fluence Pharma specialises in OTC supplements for hair and skin health under brands Hair Fact, Skin Fact, and Pro Fact.
Honasa also approved a new wholly-owned subsidiary, Honasa Health, to run the D2C nutraceuticals business. In FY26, Honasa reported net profit of Rs 200.2 crore, up 175.4%, on operating revenue of Rs 2,391.9 crore, up 15.7%.
Tata Motors CV: FY28 Roadmap Targets 40% Market Share, Double-Digit EBITDA
At its Investor Day 2026 on June 23, Tata Motors’ CV business outlined FY28 targets of 40% domestic market share, double-digit EBITDA margins through the cycle, and a 30–35% return on capital employed post the Iveco acquisition.
FY26 revenue stood at Rs 77,399 crore, the EBITDA margin improved to 13.2% from 12% in FY25, and free cash flow came in at Rs 9,186 crore, equivalent to 12% of revenue. The Iveco deal remains on track for Q2 FY27 completion.
Check Live: TATA MOTORS PASSENGER VEHICLES Share Price Chart
Disclaimer: This article is for informational and educational purposes only and does not constitute investment advice. Investments in securities markets are subject to market risks. Please consult a SEBI-registered investment advisor before making investment decisions.
