After opening on a lower note, Indian benchmark indices extended their downward momentum throughout the session, ending the session in the red.

The BSE and the NSE benchmark indices closed lower in the final session of the week, pressured by broad-based selling across IT, Metal, and Auto sectors on Friday.

At the closing bell, the BSE Sensex  closed lower by 182 points (down 0.2%)

Meanwhile, the NSE Nifty closed points 82 lower (down 0.3%)

SBI, HDFC Bank, L&T among the top gainers today

Tech Mahindra, HCL Tech, and Asian Paints, on the other hand, were among the top losers today.

The GIFT Nifty was trading at  24,831, lower by 106 points at the time of writing.

The BSE MidCap index ended 0.4% lower, and the BSE SmallCap index ended 0.2% higher.

Sectoral indices were trading mixed today, with stocks in the banking sector and the financial services sector witnessing buying. Meanwhile, stocks in the metal sector and the IT sector are witnessing selling pressure.

The rupee is trading at Rs 85.3 against the US$.

Gold prices for the latest contract on MCX are trading 0.2% lower at Rs 95,160 per 10 grams.

Meanwhile, silver prices were trading 0.2% lower at Rs 97,626 per 1 kg.
 

Reliance Power Share Soar to 52-Week High

In the news from power sector, Reliance Power share rose 15.3% to Rs 59.7, hitting a 52-week high. The stock has gained 111% in year, outperforming the Sensex.

Reliance Power's arm, Reliance NU Energies, received a letter of award from SJVN to develop a 350 MW solar power project with a 175 MW battery storage system.

The project will add 600 MW of solar capacity and 700 MWh of battery storage to Reliance Power's portfolio. The company's clean energy pipeline now totals 2.4 GW of solar capacity and 2.5 GWh of battery storage.

Reliance NU Energies won project from SJVN at a fixed rate of Rs 3.3/kWh for 25 years. The project was a part of a larger 12,00 MW solar and 600 MW battery storage tender.

The project shows Reliance Power's commitment to renewable energy and creating sustainable value. It's a big step towards cleaner energy and India's sustainable future.

Reliance power is a leading private company in India with a 5,305 MW operations capacity, including the world's largest coal-based power plant, Sasan Power Limited.

Bharat Dynamics Shares Surge to New High

Moving on to the news from defence sector, Bharat Dynamics share jumped 6% after the stock was added to the future and option (F&O) segment.

The government is planning to place a Rs 20-30 billion (bn) for Invar missiles with Bharat Dynamics Ltd (BDL).

India's defence production hit a record Rs 1460 bn in 2024-25, a 15% increase from pervious year, said Defence Minister Rajnath Singh.

India's defence export surged to record Rs 240 bn, a 14% rise from the previous year. Defence products now reach 100 countries. For the first time the private sector will also participate in the Advanced Medium Combat Aircraft (AMCA) programme.

BDL has a strong order backing Rs 270 bn, ensuring steady revenue growth. BDL is also exporting export market, with potential orders for the Akash Weapon System to 9 Countries.

BDL has set up a special team to explore and boost exports of its weapon systems, identifying new markets and opportunities.

BDL is a government owned defence company in India, established in 1970 in Hyderabad. It manufactures missiles and defence equipment, mainly for the Indian Armed Forces. BDL has three main production units and is setting up more facilities in other locations.
 

Suzlon Shares Jumps 13% after Q4 Results

Moving on to the news from energy sector, shares of Suzlon Energy jumped 13% to a 9-month high after the company reported a big profit increase in Q4.

Suzlon Energy's share has surged 28% in May, making their third consecutive month gain.

Its Q4 revenue surges 73% year-over-year to Rs 377.3 bn up from 217.9 bn in the same period last year.

The company's total income also grew 73% to Rs 382.5 bn, driven by strong growth in its operations.

Net profit jumped to Rs 118 bn in Q4FY25 from Rs 25.4 bn last year.

Suzlon Energy for FY25, net profit surged 213.7% to Rs 207.6 bn from Rs 6.6 bn in the period last year. Revenue from its wind turbine segment rose 3.4% to Rs 314.7 bn.

The company's chairman added that the company's strong profit, cash reserves, and record orders are results of its focused business strategy and operational efficiency.

Suzlon Energy is a leading renewable energy company based in Pune, India with a global presence in 17 countries and 20.9 GW of installed energy capacity. They design and manufacture wind turbines, with R&D centres in Europe and India, manufacturing facilities in India.

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