NBCC’s ₹160 Cr Win
- 22nd May 2025
Aaj Ka Bazaar
U.S. stocks closed sharply lower on Wednesday as Treasury yields surged, raising concerns that U.S. government debt could increase by trillions of dollars if Congress approves President Donald Trump’s proposed tax-cut bill. The Dow Jones Industrial Average fell by 816.80 points, or 1.91%, closing at 41,860.44, while the S&P 500 dropped by 95.85 points, or 1.61%, to finish at 5,844.61. Asian shares also declined, and Treasuries continued to slide when trading opened on Thursday, following the losses on Wall Street linked to worries about the U.S. increasing deficit. Japan’s Nikkei index fell to a two-week low, impacted by rising U.S. Treasury yields and a stronger yen. The Nikkei dropped 0.8% to 37,007.79, after hitting a low of 36,873.61, the lowest level since May 8. Considering the global cues, the domestic market, the Sensex and Nifty 50 indices are expected to open lower on Thursday due to a sell-off in global markets. Investor sentiment has been shaky since Moody’s downgraded the United States’ credit rating last Friday, amid concerns regarding the country’s growing debt. On a stock-specific level, shares of IndusInd Bank are anticipated to be in focus following its report for Q4FY25, which revealed a net loss of Rs. 2,236 crore, compared to a profit of Rs. 2,346 crore during the same period last year. This marks the lender’s largest quarterly loss ever, and the company noted suspicions that some employees may have engaged in fraudulent activities, which led to accounting discrepancies previously disclosed by the bank.
Markets Around Us
BSE Sensex – 80,989.57 (-0.74%)
Nifty 50 – 24,619.50 (-0.76%)
Bank Nifty – 54,789.30 (-0.55%)
Dow Jones – 41,897.68 (0.08%)
Nasdaq – 18,872.64 (-1.41%)
FTSE – 8,786.46 (0.06%)
Nikkei 225 – 36,943.35 (-0.95%)
Hang Seng – 23,718.17 (-0.45%)
Sector: Construction
NBCC Wins ₹162 Cr Delhi Project
State-owned construction major NBCC (India) Ltd on Wednesday (May 21) said it has received a work order worth approximately ₹161.55 crore (excluding GST) for interior work at Tower H of the World Trade Centre in Nauroji Nagar, New Delhi. The contract has been awarded by Power Finance Corporation Limited and falls under the routine course of business for NBCC. Last week, NBCC India concluded the e-auction of its flagship residential project, Aspire Silicon City Phase 4, awarding development and selling rights to AU Real Estate for ₹1,467.93 crore. The auction marks one of the largest residential property deals in the region this year. Located in one of Noida’s developed sectors, the project spans 8.5 acres and comprises seven residential towers. Of these, five towers housing 446 apartments have been handed over to AU Real Estate as part of the transaction.
Why it Matters:
This news highlights NBCC’s strong project execution capabilities and growing presence in high-value government contracts. The ₹162-crore deal from Power Finance Corporation boosts its order book and reinforces its role in Delhi’s infrastructure growth. Additionally, the massive Aspire Silicon City deal signals robust demand in the real estate sector and NBCC’s success in asset monetization.
NIFTY 50 GAINERS
ADANIPORTS – 1406.60 (1.59%)
JIOFIN – 276.60 (0.82%)
INDUSINDBK– 775.25 (0.69%)
NIFTY 50 LOSERS
TECHM – 1564.10 (-2.13%)
HCLTECH – 1618.90 (-2.00%)
POWERGRID – 290.75 (-1.82)
Sector : Metal & Mining
Vedanta Group firm, Hindustan Zinc Limited (HZL), on Wednesday (May 21) said it has received a letter of intent (LoI) from the government of Andhra Pradesh for the grant of a composite licence for the Balepalyam tungsten and associated mineral block in Ananthapuram district. The licence, issued under Rule 18(1) of the Mineral Auction Rules, 2015, follows Hindustan Zinc’s selection as the preferred bidder in the e-auction conducted by the Ministry of Mines, Government of India. The Balepalyam block spans 308.30 hectares and is expected to enhance Hindustan Zinc’s access to strategic minerals, notably tungsten, classified as a critical mineral.
Why it Matters:
This win strengthens Hindustan Zinc’s foothold in critical minerals, particularly tungsten, which is vital for defense and high-tech industries. Securing the 308.3-hectare Balepalyam block positions the company strategically amid rising demand for rare minerals. It also reflects Vedanta Group’s focus on expanding its mining portfolio through government-backed auctions.
Around the World
Most Asian stock markets dropped on Thursday, mirroring overnight losses in the U.S. due to worries about the American economy, rising debt, and U.S.-China trade tensions. Tech stocks were hit the hardest, following a surge in U.S. bond yields and criticism from China over U.S. chip export restrictions. Key Asian indices like South Korea’s KOSPI and Hong Kong’s Hang Seng saw notable declines, with big names like Baidu and CATL sliding due to profit booking and weak global cues. Japanese markets also fell after weak PMI data signaled slower business activity and continued pressure from U.S. tariffs. While most markets slipped, China’s indexes edged up slightly on hopes of more government stimulus. Meanwhile, Singapore and Australia also posted losses following mixed economic data. India’s markets are expected to open flat, with investors awaiting the country’s PMI numbers for further cues. Overall, caution remains high across Asia amid global uncertainty.
Option Traders Corner
Max Pain
Nifty 50 – 24700
Bank Nifty – 55000
Nifty 50 – 24815 (Pivot)
Support – 24,683, 24,554, 24,422
Resistance – 24,944, 25,075, 25,205
Bank Nifty – 55034 (Pivot)
Support – 54,731, 54,388, 54,085
Resistance – 55,377, 55,680, 56,023
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