Summary:
Indian markets traded higher on June 9, supported by banking stocks and improved global sentiment. Jain Resource Recycling, CemIndia Projects and Ola Electric emerged as the top gainers on strong business developments and investor interest. Meanwhile, Tata Technologies, NLC India and Balrampur Chini came under pressure due to sectoral concerns, government stake sale activity and profit booking.
Indian equity indices showed positive trading trends on June 9 owing to the rise in banking stocks after the Reserve Bank of India announced a concessional forex swap facility for foreign borrowings. A conducive international market sentiment post Israel and Iran tensions also contributed to market sentiment. The Nifty 50 was up 0.36% at 23,205.2, and the Sensex was up 0.35% to 73,776.79 in early trading sessions.
On the back of the upbeat market environment, there were many Nifty 500 stocks that showed a volatile trend. Some of the notable gainers were Jain Resource Recycling, CemIndia Projects, and Ola Electric, whereas some of the major losers included Tata Technologies, NLC India, and Balrampur Chini Mills.
Jain Resource Recycling Surges After Sharp Post-Earnings Correction
Jain Resource Recycling was the outperforming stock of the Nifty 500 Index with a gain of about 7%. This company primarily involved in the recycling business of non-ferrous metal scraps and producing lead, copper, and aluminium products bounced back after going through tough times for quite some time following the release of its March quarter results.
The buying pressure continued to be high for the stock, with NSE trading volume crossing 79 lakh against a 30-day moving average of 39.1 lakh. The recent rally can largely be attributed to the correction in the stock that has seen a fall of almost 40% following the announcement of the quarterly results.
In the quarter ended March 31, 2026, Jain Resource Recycling registered a growth of 76.4% in its revenue at ₹3,105 crore. Its EBITDA stood at ₹110 crore and net profit at ₹66 crore. EBITDA margins came down by 180 basis points to 3.5% owing to higher cost of fuels and logistics disruptions. The company expects to witness an improvement in its operating environment starting from FY27Q1 onwards.
CemIndia Projects Extends Earnings-Driven Rally
CemIndia Projects was up by around 9% and emerged as one of the top gainers in the wider market, in the absence of any new corporate update.
The infrastructure and engineering firm has been favoured by the investors owing to its strong Q4FY26 performance. The revenue witnessed an increase of 17% on a year-over-year basis, reaching ₹2,973 crore. On the other hand, EBITDA jumped by 66% to ₹450 crore.
EBITDA margin also widened by 440 basis points to 15.1%. Further, net profit almost doubled during the quarter under review to ₹242 crore. CemIndia Projects’ order book stood at ₹24,545 crore at the end of FY26.
Ola Electric Gains on QIP Success and Better Registration Numbers
Ola Electric was up 7% amid positive investor sentiment due to the company’s ability to fundraise and its turnaround in vehicle registration numbers.
The company recently conducted an IPO where it managed to collect ₹780 crore despite being 56% oversubscribed. The funds will help boost the balance sheet, expand operations, and cut debt.
Volume trading stayed quite heavy; more than 16.7 crore shares were traded on the NSE platform compared to the average volume of 11 crore shares over 30 days. The vehicle registration number improved to 15,139 from 12,323 units in April, while the share price surged about 28% last month.
Tata Technologies, NLC India and Balrampur Chini Under Pressure
As part of the underperformers, Tata Technologies dropped by 4% to ₹748.40. The decline in the stock price did not have any correlation with any company-specific incident but was driven by negative sentiments around technology shares on account of investor expectations from AI, as well as demand moderation within the sector.
The stock of NLC India fell 3.84% to ₹322.85 after the government of India decided to divest its 3% interest via an offer for sale route. A lower limit of ₹303 per share created selling pressure due to the discount from the current market price.
Balrampur Chini Mills witnessed a fall of 3.37% to ₹531.85, as most of the action was based on profit booking following the gains made recently.
Conclusion
In regard to stock-specific events, June 9 was marked by them, with Jain Resource Recycling bouncing back sharply after undergoing significant corrections, CemIndia Projects continuing with an earnings-led rally, and Ola Electric gaining strength following successful fundraising. However, Tata Technologies was affected by industry dynamics, NLC India being negatively impacted by the stake sale announcement made by the government, while Balrampur Chini underwent some profit-taking activities.
