Stocks to Watch Today: HCL Tech, HDFC Bank, IRFC, Tata Motors, Torrent Power & Adani Ports
From HCL Tech's Sarvam AI bet to Adani Ports' S&P upgrade and IRFC's share sale, here are the stocks likely to stay in focus as markets open to renewed Middle East jitters.
By Naina, 29th June 2026
Several stocks are in focus on Monday, 29 June 2026, as Indian markets open to a cautious mood amid renewed tensions in the Middle East. HCL Technologies, HDFC Bank, IRFC, Tata Motors, Torrent Power, and Adani Ports are among the names likely to see active trade, each driven by company-specific developments ranging from acquisitions and rating upgrades to share sales and legal clarifications. With benchmark indices set for a muted start after the US struck Iranian military targets over the weekend, stock-specific triggers are likely to drive much of the action. Here is what to watch and why.
Indian equities closed marginally higher on Friday, with the Sensex near 77,100 and the Nifty around 24,056, helped by easing crude and a steadier rupee. But the weekend's geopolitical escalation has clouded the open, with oil edging up and Asian markets trading mixed. Against that backdrop, the following companies carry fresh news that could move their shares. This roundup covers the key catalysts for each, without offering any view on whether to buy or sell.
The Market Setup Today
The broader mood is cautious. After Friday's modest gains, benchmark indices were poised for a subdued start on Monday, with GIFT Nifty futures pointing slightly lower near 24,086 and global cues mixed. The trigger is geopolitical: the United States struck Iranian military targets over the weekend in retaliation for Tehran's actions around the Strait of Hormuz, reviving fears over oil supply. Crude prices edged higher, and Asian markets were uneven, with South Korea's Kospi down sharply. That backdrop sets a risk-aware tone, making individual stock news especially influential.
HCL Technologies
HCL Tech is in focus after completing a ₹1,427.25 crore investment in Axonwise Private Limited, the entity behind homegrown AI firm Sarvam, through the subscription of 41,421 Series B2 compulsory convertible preference shares allotted on 25 June. The instruments will convert into equity later. The move deepens HCL's exposure to India's sovereign AI push and aligns the IT major with a leading domestic model-builder. Analysts see strategic merit in the bet, though they note the long-term payoff will hinge on Sarvam's ability to scale and execute in a competitive AI landscape.
HDFC Bank
HDFC Bank shares will be watched after the lender said an independent legal review found no evidence in board committee minutes, related communications, or witness interviews to support concerns raised by former chairman Atanu Chakraborty in his resignation letter. Chakraborty, in turn, said the terms of reference and legal framework of the review by the law firms were not shared with him. The development addresses a governance question that had drawn attention, and the market reaction will reflect how investors weigh the bank's clarification against the lingering dispute.
IRFC (Indian Railway Finance Corporation)
IRFC is in the spotlight after the government's offer-for-sale in the railway financier drew strong investor demand. The Centre raised an estimated ₹2,084 crore after exercising the greenshoe option, which allows additional shares to be sold when subscription is robust. A well-received OFS signals healthy appetite for the state-owned company and modestly increases its public float. The successful share sale is a positive signal of investor confidence, and the stock will react to both the pricing of the OFS and the demand it attracted.
Tata Motors
Tata Motors' passenger vehicle arm is in focus after it clarified media reports about a partnership with Stellantis. The company said that while it signed a non-binding memorandum of understanding in February, no definitive agreement has been finalised. The clarification tempers speculation about a major tie-up, and the share reaction will depend on how investors interpret the status of the talks. For a closely tracked automaker, clarity on potential global partnerships matters, even when the update is to dial back rather than confirm market expectations.
Torrent Power
Torrent Power will be active after completing the acquisition of an equity stake and convertible instruments in Nabha Power Limited from L&T Power Development for ₹3,632.35 crore. The deal expands Torrent's generation portfolio and marks a significant capital deployment in the power sector. Acquisitions of operating power assets can add scale and cash flows, and the market will assess the strategic fit and the price paid. The completion of the transaction removes execution uncertainty, turning attention to how the asset contributes to Torrent's earnings going forward.
Adani Ports
Adani Ports and Special Economic Zone is in focus after S&P Global Ratings upgraded its long-term issuer credit rating and the rating on its senior unsecured notes to 'BBB' from 'BBB-', with a stable outlook. The upgrade places Adani Ports' rating at par with India's sovereign rating from S&P, a notable endorsement of the company's credit profile. A higher rating can lower borrowing costs and signals improved confidence in the company's finances, making it a clear positive for the stock and the broader Adani group's standing with global investors.
The Road Ahead
With markets opening to renewed geopolitical uncertainty, these stock-specific developments are likely to stand out against a cautious broader tape. HCL Tech's AI bet, Adani Ports' rating upgrade, Torrent Power's acquisition, IRFC's share sale, HDFC Bank's governance clarification, and Tata Motors' partnership update each give investors a concrete reason to track these names today. How they trade will depend on both the company news and the direction of oil and global markets as the Middle East situation evolves. As always, individual catalysts can cut both ways. This is analysis, not investment advice.
Frequently Asked Questions
Why is HCL Tech in focus today?
HCL Technologies has completed a ₹1,427.25 crore investment in Axonwise, the company behind AI firm Sarvam, via compulsory convertible preference shares allotted on 25 June, deepening its push into India's AI ecosystem.
What is the news on Adani Ports?
S&P Global Ratings upgraded Adani Ports' long-term issuer credit rating and senior unsecured notes to 'BBB' from 'BBB-', with a stable outlook, placing it at par with India's sovereign rating from S&P.
Why is IRFC being watched?
The government's offer-for-sale in IRFC drew strong demand, allowing the Centre to raise an estimated ₹2,084 crore after exercising the greenshoe option, a sign of healthy investor appetite.
What did Tata Motors clarify?
Tata Motors' passenger vehicle arm said that, contrary to some media reports, it signed only a non-binding MoU with Stellantis in February and has not finalised any definitive partnership agreement.
How are markets expected to open?
Indian indices were set for a muted, cautious start on Monday after the US struck Iranian military targets over the weekend, with oil edging higher and Asian markets trading mixed.