Synopsis : Indian equity markets traded higher by midday on June 4, supported by gains in power, defence, healthcare and electric mobility stocks. Several counters witnessed sharp moves following strong business updates, fundraising plans, government policy support and major order wins.
Markets trade higher despite stock-specific volatility
Indian benchmark indices remained in positive territory during midday trade on June 4. The Nifty hovered around the 23,450 mark while the Sensex traded near 74,500 levels, supported by gains in select power, industrial, defence and electric mobility stocks.
While broader market sentiment remained stable, several stocks witnessed sharp moves driven by company-specific developments and policy announcements.
- IEX gains as power demand hits record highs
Indian Energy Exchange (IEX) gained around 2% after reporting strong operating data for May 2026.
The company recorded an 18.6% year-on-year increase in electricity traded volumes to 12,983 million units. India's power consumption also rose 11.5% year-on-year to 164.98 billion units, while peak demand touched a record 270.82 GW.
The strong demand environment reinforced optimism around power-sector stocks and electricity trading platforms.
- Jain Irrigation surges on biochar facility commissioning
Jain Irrigation Systems emerged among the top gainers of the day, rallying nearly 14% after commissioning a large-scale biochar production facility in Jalgaon, Maharashtra.
The facility has an annual production capacity of approximately 20,000 tonnes and can process over 50 metric tonnes of agricultural residue daily. The company believes the project will support climate-smart agriculture, carbon removal initiatives and create additional revenue opportunities for farmers.
- ideaForge hits upper circuit after fundraising announcement
Drone manufacturer ideaForge Technology gained 5% and touched its upper circuit after approving plans to raise up to ?500 crore through multiple fundraising routes.
Investor sentiment was further supported by the company's strong Q4 FY26 performance. Net profit stood at ?60 crore compared with a loss in the corresponding period last year, while revenue surged to ?141 crore from ?20.3 crore.
The company also reported securing orders worth ?530 crore during FY26.
EV stocks rally on commercial vehicle replacement scheme
Electric mobility stocks remained in focus after the Union Cabinet approved a vehicle replacement programme targeting ageing commercial vehicles in the Delhi-NCR region.
JBM Auto jumped over 6%, while Olectra Greentech gained nearly 4%, as investors anticipated stronger demand for electric buses and fleet modernisation.
The policy is expected to encourage the replacement of older commercial vehicles with BS-VI-compliant and electric alternatives through various incentives and financing support measures.
- Renewable energy initiatives boost Gujarat Alkalies
Gujarat Alkalies & Chemicals advanced more than 5% after announcing a renewable energy partnership with Clean Max Enviro Energy Solutions.
The project combines wind and solar energy generation and is expected to supply clean power to the company's manufacturing facilities in Gujarat. The initiative is aimed at enhancing long-term energy security while reducing environmental impact.
- Vedanta, Jeena Sikho and Atlanta Electricals remain in focus
Vedanta remained active following developments related to its ongoing demerger process and recent credit-rating upgrades.
Jeena Sikho Lifecare gained over 8% after its Bhopal hospital received NABH accreditation. The company now operates 50 NABH-accredited healthcare facilities and reported strong earnings growth in the March quarter.
Meanwhile, Atlanta Electricals hit its upper circuit for a second consecutive session after securing a ?285 crore order from Punjab State Transmission Corporation for the supply of power transformers.
- Lenskart slips after SoftBank stake sale
Lenskart witnessed mild selling pressure after SoftBank reduced its stake through a block deal worth approximately ?2,873 crore.
Despite the stake sale, several domestic mutual funds and institutional investors participated in the transaction, helping absorb the supply of shares.
- Market takeaway
Power, renewable energy, defence, healthcare and electric mobility themes continued to dominate market action on Thursday. Investors rewarded companies reporting strong operational momentum, policy tailwinds, capacity expansion and significant order wins, highlighting continued interest in growth-oriented sectors despite broader market volatility.
Disclaimer : This article is for informational purposes only and should not be considered investment advice. Investors should consult a qualified financial advisor before making investment decisions.
