A sharp sell-off in U.S. markets, global sentiment weakened and triggered significant selling pressure in Indian equities on Thursday. Investors are likely to focus on several stocks on Friday due to key announcements and developments. Let’s look at the Stock Market on May 23, 2025.
Stock Market on Friday, May 23
Adani Ports
Adani Ports has announced plans to raise Rs 6,000 crore through non-convertible debentures (NCDs) on a private placement basis. The funds will be used for capital expenditure, debt refinancing, and general corporate purposes.
HFCL
HFCL reported a net loss of Rs 81.4 crore in Q4 FY25, as compared to a profit of Rs 110 crore in the same quarter last year. The decline was largely attributed to reduced demand for optical fibre cables (OFC).
Tata Steel
Tata Steel inaugurated the second phase of its Kalinganagar plant expansion in Odisha. With an investment of Rs 27,000 crore, the facility’s annual production capacity has increased from 3 to 8 million tonnes.
Ola Electric Mobility
Ola Electric plans to raise Rs 1,700 crore via non-convertible debentures or other securities. Also, on a private placement basis, as it continues to scale its operations.
UltraTech Cement
A subsidiary of UltraTech Cement, India Cements, has completed a debottlenecking projec. This took place at its Banswara Cement Works in Rajasthan. The upgrade will add 0.3 million tonnes of annual production capacity.
