Trending Stocks on June 3, 2026:Vodafone Idea, NHPC, Ola Electric Among Most Traded NSE Stocks; Rating Upgrades, OFS And Turnaround Hopes Drive Action

Mumbai, June 3:Vodafone Idea retained its position as the most actively traded stock on the NSE on Wednesday, buoyed by rating upgrades from Citi and ICRA and optimism around its improving financial outlook.

NHPC also witnessed strong trading volumes after the government’s Rs 4,300-crore offer-for-sale (OFS) opened for retail investors, while Ola Electric Mobility remained in focus amid signs of operational improvement and a recovery in investor sentiment.

Jaiprakash Power Ventures flatlined as investors continued to assess the implications of Adani Power’s planned acquisition of a 24% stake in the company and its Churk power assets.

Vodafone Idea (up 0.78%)

Vodafone Idea share price edged higher and retained position as the most actively traded stock after receiving rating upgrades from Citi and ICRA. The upgrades reflected improving financial visibility, supported by the Aditya Birla Group’s continued backing. Analysts also cited the government’s earlier conversion of dues into equity and the freeze on adjusted gross revenue (AGR)-related payments as key factors strengthening the telecom operator’s outlook.

The gains come a day after the stock had slipped around this time as Vodafone Idea sought to leverage the controversy surrounding Bharti Airtel’s “Priority Postpaid” plans. The telecom company launched a marketing campaign emphasising equal network access for all customers and positioning itself as an operator that does not differentiate between premium and non-premium users. The campaign tapped into the ongoing debate around net neutrality and concerns over preferential access enabled by 5G network-slicing technology.

NHPC (up 3.78%)

NHPC share price climbed on Wednesday after the government’s Rs 4,300-crore offer-for-sale (OFS) opened for retail investors, with market participants responding positively to the discounted share sale. The OFS, through which the Centre aims to reduce its stake in the state-run hydropower producer, was launched yesterday.

Investor sentiment was aided by strong participation from institutional buyers on the first day of the issue, raising expectations of healthy demand from retail investors as well. The government is offering a 3% stake in NHPC, with an option to sell an additional 3% through a green-shoe mechanism, potentially taking the total divestment size to around Rs 4,300 crore.

Brokerages remainlargely constructive on NHPC’s long-term prospects, citing its strong hydropower portfolio, stable cash flows and expanding renewable energy pipeline. Analysts note that the OFS provides investors an opportunity to accumulate shares at a discounted price, although near-term gains could be capped by the increase in free float following the stake sale.

The proceeds from the transaction will contribute to the government’s disinvestment programme, while NHPC continues to benefit from India’s growing focus on clean energy, hydroelectric power and renewable generation capacity. Investors will be watching subscription levels and post-OFS price action for further cues on market appetite for the stock.

Jaiprakash Power Ventures (up 0.05%)

Jaiprakash Power Ventures share price was little changed on Wednesday after witnessing some profit booking in theprevious session around this time, suggesting investors may be pausing after the stock’s strong rally over recent weeks.

The stock has been buoyed by optimism surrounding Adani Power’s agreement to acquire a 24% stake in the company, along with the Churk power assets, from Jaiprakash Associates for more than Rs 4,193 crore. The transaction is viewed as a key step in Jaiprakash Associates’ debt-reduction efforts and underscores the strategic appeal of Jaiprakash Power’s assets amid ongoing consolidation in India’s thermal power sector. For Adani Power, the acquisition is expected to expand its generation portfolio and strengthen its presence in Uttar Pradesh, one of the country’s largest power markets.

Ola Electric Mobility (up 1.83%)

Ola Electric Mobility share priceis on a recovery rally, supported by improving operational metrics and growing optimism around the company’s path to profitability.

Investor sentiment has strengthened since the company’s March-quarter results highlighted signs of stabilising fundamentals. The earnings update pointed to improved financial discipline, with better gross margins, reduced cash burn and the company’s first quarter of positive operating cash flow. Management’s guidance for a sharp sequential rise in vehicle deliveries in the current quarter, backed by improving demand trends, further boosted confidence.

The stock has also benefited from expectations that Ola Electric could regain lost ground in the electric two-wheeler market following a challenging period marked by intense competition and regulatory scrutiny. Rising vehicle registration numbers, inventory and supply-chain optimisation efforts, and progress on its battery cell manufacturing programme have added to the positive momentum.

Investors have additionally welcomed the company’s focus on localisation, cost efficiencies and expansion of its service network, initiatives that are expected to support margins and improve customer experience over time. After undergoing a steep correction since its market debut, the stock’s recent rebound reflects growing expectations that improving execution and a recovery in volumes could drive a gradual turnaround in the business.

Source:

• NSE