Several stocks are expected to be active in today's trading session due to recent news and developments, including IREDA, Bajaj Finserv, JSW Energy, and Ashok Leyland.
IREDA (Indian Renewable Energy Development Agency)
IREDA is in focus following the launch of its Qualified Institutional Placement (QIP) to raise up to ₹5,000 crore. The board has set the floor price at ₹173.83 per share and may offer a discount of up to 5% on this price. The QIP opened on June 5, 2025, authorized by a board decision in January and shareholder approval in February. IDBI Capital Market Services, BNP Paribas, SBI Capital Markets, Emkay Global Financial Services, and Motilal Oswal Investment Advisors are managing the QIP. The share sale will not dilute more than 7% of the government's equity.
The company aims to use these funds to meet the increasing demand for green energy financing. While IREDA's stock ended 1.4% higher in the previous session at ₹176.5, it has shown a mixed performance over the past year. It's up 10% in the last month but down over 40% from its peak. Since its IPO in December 2023, the stock has multiplied nearly sevenfold from its IPO price of ₹32, reaching highs above ₹200 before declining.
The government retains a 75% stake in IREDA. Retail shareholders have nearly doubled since December 2023, now holding a 20.25% stake. In contrast, domestic mutual funds and Foreign Portfolio Investors (FPIs) have minimal exposure.
Bajaj Finserv
Bajaj Finserv is in the spotlight as its promoter entities, Bajaj Holdings and Investment Limited and Jamnalal Sons Private Limited, are planning to sell up to 1.94% stake via block deals. This stake sale is expected to generate approximately ₹5,800 crore, with a base deal size of ₹4,750 crore and an upsize option of ₹1,078 crore.
The floor price for the block deal is set at ₹1,880 per share, a 3.3% discount to the stock's last closing price. The transaction involves offering around 25.3 million shares, with a potential upsize of an additional 5.7 million shares. Kotak Securities is likely to be the broker for this deal.
As of March 31, 2025, Bajaj Holdings held a 39.03% stake in Bajaj Finserv, while Jamnalal Sons held 9.70%. On June 5, Bajaj Finserv shares closed at ₹1,944.90 on the NSE, down by 0.57%. The company reported a 14% increase in its Q4FY25 net profit to ₹2,417 crore, with revenue at ₹36,595 crore, up 14% year-on-year.
JSW Energy
JSW Energy is attracting attention after commissioning a 281 MW renewable energy project, boosting its total installed capacity to 12,499 MW. This includes 215 MW of solar capacity and 66 MW of wind capacity. Renewables now constitute 55% of JSW Energy's total capacity, with 3,482 MW from wind, 1,968 MW from solar, and 1,391 MW from hydro energy.
The company also signed a 25-year Power Purchase Agreement (PPA) with Adani Electricity Mumbai for a 250 MW wind project. JSW Energy aims to achieve 30 GW of generation capacity and 40 GWh of energy storage by FY2030. It currently has a locked-in generation capacity of 29.9 GW, including operational, under-construction, and pipeline projects. The board has recommended a dividend of ₹2 per share. JSW Energy shares closed at ₹508.15, shedding 0.20% on June 5.
Ashok Leyland
Ashok Leyland's board will meet on May 23, 2025, to consider a bonus share issue alongside financial results for the year ended March 2025. The stock rose 3% following the announcement in intraday trade on May 20. The company declared a dividend of ₹4.25 per share for the quarter ending March 2025.
Ashok Leyland recorded a 5% increase in sales of trucks, buses, and LCVs in May 2025. The company's shares closed at ₹233.90 on June 5, down 0.68% from the previous close. The 52-week high for the stock is ₹264.70, and the 52-week low is ₹190.40.
These are the key stocks to watch today, June 6, 2025, based on recent market developments and company announcements.
