Indian benchmark indices were trading in the red by midday on June 8, with the Nifty 50 hovering around the 23,200 level, down nearly 0.70%, while the BSE Sensex trading near the 73,700 mark, declining around 0.68%. According to The Financial Express, market sentiment remained cautious after South Korea's benchmark KOSPI index plunged as much as 8%, triggering circuit breakers amid heavy profit booking in technology stocks and fresh concerns over escalating tension in the Middle East. Despite the broader weakness, several stocks witnessed sharp moves on the back of fundraising plans, order wins, regulatory developments and company-specific triggers.
Reliance Infrastructure emerged as one of the standout performers, gaining 5% by midday and remaining locked in its upper circuit for the sixth consecutive trading session. The latest rally followed the company's move to seek a review of the insolvency-related surveillance framework, with the stock surging around 33% over the last six trading sessions. EMS Ltd. jumped nearly 15% by midday after the company secured L-1 status for a major sewerage infrastructure project in Uttar Pradesh. The project involves construction of sewer networks and household sewer connections across four wards of Varanasi under a broader urban sewerage development programme. Zee Entertainment Enterprises Ltd. gained nearly 4% by midday after the company announced that its board will meet on June 10 to consider a fundraising proposal through equity shares and other securities convertible into equity shares.
IT stocks traded in positive territory despite the broader weakness, with Tech Mahindra rising 1.44%, Mphasis gaining 1.02%, and Persistent Systems advancing 0.51%. Among midcap technology names, D-Link (India) climbed 3.38%, Rashi Peripherals gained 1.83%, and Alldigi Tech advanced 1.34%. The Nifty Pharma index gained 1.4% during the midday session, bucking the market selloff as investors sought refuge in defensive sectors amid heightened global uncertainty. Among top pharma gainers, JB Chemicals & Pharmaceuticals surged nearly 1.8%, while Alkem Laboratories and Mankind Pharma advanced around 1.7% each. DEE Development Engineers surged 5% by midday after the company updated its order book for May 2026, hitting its upper circuit and a fresh 52-week high.
Zee Entertainment announced that its board will meet on June 10 to consider a fundraising proposal through equity shares and other securities convertible into equity shares, with the proposed fundraising remaining subject to shareholder approval and other regulatory clearances. The development comes even as the broadcaster reported a difficult March quarter, posting a consolidated net loss of ₹102.4 crore compared with a profit of ₹188.4 crore in the corresponding quarter last year. Reliance Infrastructure advanced 5% and touched its upper circuit after the company approved fundraising plans worth up to ₹500 crore through preferential allotment, qualified institutional placement and other permissible routes. The issue size could reach ₹5,000 million through one or multiple tranches, following strong Q4 FY26 performance with the company reporting a net profit of ₹60 crore.
JBM Auto Ltd. jumped 6.25% by midday after the Union Cabinet approved a vehicle replacement scheme covering ageing trucks and buses in the Delhi-NCR region. The policy aims to encourage replacement of BS-IV and older commercial vehicles with BS-VI-compliant or electric alternatives, benefiting more than 2 lakh vehicle owners across Delhi, Haryana, Rajasthan and Uttar Pradesh. The scheme includes interest subvention on loans, monthly fuel vouchers and incentives linked to electric vehicle adoption, strengthening expectations of improved order inflows for companies like JBM Auto with strong presence in the electric bus segment.
