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India Market Recap
Indian equity benchmarks halted a four-day losing streak. The NSE Nifty 50 rose 0.43% to close at 23,483.55, while the BSE Sensex gained 0.52% to end at 74,649.84. IT stocks led the gains, with Infosys contributing 53.59 points and TCS adding 35.57 points to the Nifty's rise. Financials and energy stocks such as ICICI Bank, Axis Bank, NTPC and Reliance Industries weighed on the indices.
US Market Recap
The main Wall Street indices retreated from record highs to open in the red on Tuesday as traders awaited clarity to emergy on the US-Iran truce talk front.
The S&P 500 broke its eight-day long rally to open 0.18% lower at 7,586.44, Dow Jones Industrial Average slumped over 200 points or 0.44% to open at 50,853.99 levels, while Nasdaq Composite's AI-fuelled rally cooled off with the index opening 0.27% lower at 27,014.03.
However, Dow touched a fresh record after jumping over 100 points or 0.25% to 51,195.59
Business Update
Adani Ports & SEZ (May Update)
Handles cargo volume of 48.3 MMT, up 16% YoY
Logistics rail volume declines 19% YoY to 48,170 TEUs
Stocks in news
Infosys: The company expands its partnership with DNB Bank ASA to strengthen financial‑crime operations.
- Power Finance Corporation (PFC): The Registrar of Companies strikes off subsidiary PFC Projects, citing lack of future business opportunities.
- Strike off and Dissolution of Three wholly owned subsidiaries (Deoghar Infra, Deoghar Mega Power, Jharkhand Infra )of Power Finance Corporation Limited.
- Dhanuka Agritech: The company's Rs. 70 crore buyback will open on June 4 and close on June 10.
- Indian Overseas Bank: The company receives approval from IFSCA to set up a banking unit in GIFT City.
- Concord Biotech: The company receives US FDA approval for Mycophenolate Mofetil ANDA, used in organ‑rejection prophylaxis, with an estimated US market size of USD 30 million.
- Patanjali Foods: The company receives a tax demand of Rs. 73 crore for FY23, related to alleged ineligible input tax credit.
- Delhivery: The company will incorporate a new subsidiary, Delhivery Fintech Distribution.
- Mufin Green Finance: The company will issue NCDs worth Rs. 119 crore via private placement.
- John Cockerill India: The company receives an order of around Rs. 1,300 crore from JSW Vijayanagar Metallics for commissioning two annealing and coating lines.
- Canara Bank: The company approves a capital‑raising plan of up to Rs. 8,500 crore via bonds in FY27.
- Mankind Pharma: The company's arm acquires the remaining 10% stake in Upakarma, taking full ownership.
- NHPC (OFS Update): The government exercises the oversubscription option, increasing total offer size to 6% stake, or 60.3 crore shares.
- Advait Energy Transitions: The company's arm signs an agreement with GUVNL for a 150 MW BESS project.
- Aequs: The Karnataka government sanctions incentives under the ESDM scheme for setting up a manufacturing unit in Dharwad.
- Elpro International: The company acquires 92,000 shares in Jana Small Finance Bank.
- Hexaware Technologies: The company plans to enhance its ‘Agentverse' AI platform by adding governance, development, and lifecycle management capabilities.
- United Foodbrands: NCLT approves the merger scheme of Blue Planet Foods and Red Apple Kitchen.
- Vedanta: The company clarifies that Enforcement Directorate officials visited certain offices of Vedanta and Hindustan Zinc. The company is extending full cooperation and proceedings are underway.
- Onix Solar Energy: The company approves allotment of 1.2 crore shares aggregating Rs. 60.2 crore.
- String Metaverse: Ghanshyam Das resigns as Chairman. The company appoints Dr. Sethurathnam Ravi as the new Chairman.
- Wipro: The company completes acquisition of an additional 20% stake in Aggne Global Inc.
- Ajax Engineering: Ganesh B J resigns as Interim CFO. The company appoints Ketan Pendse as CFO with immediate effect.
- Kalpataru: The company withdraws the proposed Project Magnus demerger. The board states that the envisaged benefits are no longer relevant and there will be no financial impact.
- Bliss GVS Pharma: The company receives WHO closure report for its Palghar unit, confirming compliance with GMP standards.
- Epack Prefab Technologies: The company secures an order worth Rs. 165 crore for supply of cells and modules.
- Restaurant Brands Asia: The company will allot shares worth Rs. 900 crore and warrants worth Rs. 600 crore to Lenexis Foodworks.
- InterGlobe Aviation: The company will discontinue flights to and from Manchester effective August 31, citing a challenging cost and operational environment. It also plans to return one of its six Boeing 787‑9 Dreamliners to Norse Atlantic.
- B.R. Goyal Infrastructure: The company secures an order worth Rs. 118 crore.
IPO To Open
CMR Green Technology: A non-ferrous metal recycler and secondary aluminium market, specializing in aluminium and zinc die-casting alloys. Shares issued with Price Band of 182 to 192 rupees and Lot Size of 78 shares. Total Issue size of Rs. 631 cr which is 100% offer for sale
Set to open on 3rd June 2026, close on 5th June 2026 and Listing on 10th June 2026.
Bulk & Block Deals
Alkem Laboratories: Jayanti Sinha sold 12.3 lk shares, Samprada&Nanhamati Singh Family Trust sold 5.5lk shares & ICICI Prudential Mutual Fund bought 9 lk shares, HDFC Mutual Fund bought 5lk shares, DSP bought 86.5k shares & BNP Paribas, Edelweiss Mutual Fund, Goldman Sachs Bank, Morgan Stanley Asia Singapore, Nippon India Mutual Fund, Societe Generale bought 48k shares each at Rs. 5,200 a piece
BAJAJ ELECTRICALS: Jamnalal Sons Sold 56.16L Shares & Kamalnayan Investments, Madhur Securities, Niraj Holdings, Rahul Securities, Rupa Equities, Shekhar Holdings Bought 9.36L Shares Each At avg price of Rs. 320.5 A Piece
Mangalam Cement: Santosh Industries sold 2lk shares for Rs. 840 a piece
Neogen Chemicals: AXIS MUTUAL FUND sold 2.6 lk shares at Rs. 1,788.01 a piece
Shares to exit anchor Lock-in
Wakefit Innovations: 6 months lock in, 4 mn lock in shares, 1% of total outstanding shares
Board Meeting
- DEE Development Engineers - Fund Raising
- Indiabulls- Fund Raising
- Ideaforge Technology- Fund Raising
- Skipper- Fund Raising
Corporate announcement
Anand Rathi Wealth - 1:1 Bonus
Insider trade
Paisalo Digital: Equilibrated Venture, Pro Fitcch, Pri Caf, Promoter Groups acquired 6.3 lk shares each
Price band
Price Band change from 10% to 5%: DYNACONS SYSTEMS & SOLUTIONS
Short Term ASM
- List of securities shortlisted in Long - Term ASM Framework Stage : WOCKPHARMA
- List of securities shortlisted in Short - Term ASM Framework Stage: Aditya Infotech, Kernex Microsystems, V Marc, Yasho Industries
- List of securities to be excluded from ASM Framework: Shaily Engineering Plastics, Wockhardt, KDDL
F&O Cues
- Nifty futures is up 0.61% to 23,605 at a premium of 121 points.
- Nifty Options 9th June Expiry: Maximum Call open interest at 24,000 and Maximum Put open interest at 23,300
- Securities in ban period: AMBER, KAYNES
Photo Credit: NDTV Profit
Photo Credit: NDTV Profit
Currency Recap
The rupee weakened by 10 paise to settle at 95.29 against the US dollar on Tuesday, pressured by a rise in global crude oil prices and a stronger greenback amid heightened safe-haven demand.
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