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India Market Recap
The benchmarks recovered most of Tuesday’s losses, when both indices fell 1.16%. Brent crude dropped below levels seen before the US-Iran war, easing concerns over oil-linked risks. The NSE Nifty 50 rose 197.55 points, or 0.83%, to close at 24,021.65, while the BSE Sensex gained 790.54 points, or 1.04%, to end at 76,991.22.
US Market Recap
Wall Street rose on Wednesday as chip stocks bounce back from the two-day sell-off and oil prices fell. S&P 500 opened 0.48% higher at 7,401.10, tech-heavy Nasdaq Composite rose 0.57% at open to 25,746.36, and Dow Jones Industrial Average added nearly 50 points and opened 0.08% higher at 51,703.37.
ALSO READ: US Stock Market Today: S&P 500, Dow Jones Rise As Chip Stocks Rebound; Nasdaq Recovers After Crash
Stocks In News
- Tata Steel: In a major move to fortify its overseas balance sheet, the steel giant has infused Rs 1,625 crore into its wholly-owned subsidiary, T Steel Holding Pte (TSHP). The company acquired 199 crore shares at $0.086 per share. This capital injection is likely aimed at restructuring offshore debt and supporting the ongoing decarbonization transition at its European facilities.
- Jubilant Pharmova: Received a significant regulatory relief as the Income Tax Department substantially reduced the tax demand on its subsidiary from Rs 108 crore to just Rs 42 crore. This major reduction frees up contingent capital for the pharma major as it focuses on expanding its CDMO and radiopharma operations.
- ICICI Bank: The private sector lender has received crucial regulatory approval from the Reserve Bank of India (RBI) to acquire an additional 2% equity stake in its life insurance arm, ICICI Prudential Life Insurance. This move will allow the bank to consolidate its holding and strengthen its integrated financial services ecosystem.
- LIC: The state-owned life insurance behemoth announced the unexpected resignation of its Chief Financial Officer, Sunil Agarwal. Agarwal is stepping down to pursue better prospects, and his cessation will take effect from July 14, 2026.
- NLC India: Accelerating its clean energy transition, its subsidiary has entered into a joint venture agreement with the Odisha Renewable Energy Development Agency (OREDA). The JV will construct a massive 1,000 MW green energy project in Odisha, significantly expanding NLC’s non-fossil fuel capacity profile.
- Embassy Developments: The real estate developer has signed a strategic Memorandum of Understanding (MoU) with the Uttar Pradesh government. The pact entails a heavy capital investment of Rs 1,500 crore to develop premium real estate projects in the high-growth Lucknow corridor.
- Bharat Forge: Continuing its inorganic expansion into defense and aerospace, its subsidiary has successfully completed the acquisition of a 90% controlling stake in RS Aerostructures. This acquisition strengthens Bharat Forge’s value-added capabilities in aerostructure component manufacturing.
- Deccan Gold Mines: The company officially inaugurated its flagship Jonnagiri Gold Project in Kurnool, Andhra Pradesh. Marking a historic milestone for private-sector gold mining in India, the facility boasts an initial ore processing capacity of approximately 1,000 tonnes per day, shifting the company from an exploration phase to active commercial production.
- HCLTech: The IT services major announced a string of strategic partnerships: It tied up with global aviation fuel and diesel producer Neste for AI-led operational efficiency solutions; partnered with Nokia to provide specialized rApps for Nokia’s Radio Access Network (RAN) portfolio; and signed an MoU with the Nagpur Municipal Corporation (NMC) to build technological sports opportunities.
- Signpost India: Secured a highly favorable ruling from the Karnataka High Court, which recognized the company’s legal rights under its Public-Private Partnership (PPP) agreement. The court explicitly permitted the company to place advertisements near police booths and footpaths, directing the Bruhat Bengaluru Mahanagara Palike (BBMP) to honor the existing contract.
- IRFC: The government has decided to formally exercise its green-shoe oversubscription option to sell an additional 1% stake in the ongoing Offer for Sale (OFS) of the state-run railway financier.
- Clean Science and Technology: The specialty chemicals manufacturer will invest Rs 50 crore into its wholly-owned subsidiary, Clean Fino-Chem, via a rights issue. The funds will be deployed to accelerate ongoing capital expenditure for its new performance chemical capacities.
- Infosys: Announced a strategic cloud and AI partnership with Sentara Healthcare to drive digital transformation, aiming to optimize patient care delivery and healthcare operational frameworks.
- Raymond: The company formally clarified that media reports suggesting an imminent buyout of the German aerospace components firm Deharde are speculative. However, management noted that up to Rs 330.88 crore of the funds raised via its preferential issue have been strategically earmarked for potential future M&A activities.
- Jubilant FoodWorks: The master franchisee of Domino’s Pizza in India has successfully revoked corporate guarantees amounting to €116 million that were previously extended to its Netherlands-based international subsidiary, streamlining its contingent liabilities.
- Electrosteel Castings: The company announced that the scheduled asset-integrity maintenance shutdown at its main Mini Blast Furnace (MBF) plant has concluded, with active commercial operations slated to resume on June 25.
- Reliance Industries: Its healthcare vertical, Karkinos Healthcare, crossed a major public health milestone by completing HPV DNA screening for over 1 lakh women, solidifying its presence in the preventive oncology and genomic screening space.
- Vikram Solar: The National Company Law Appellate Tribunal (NCLAT) has granted an interim stay on the ongoing insolvency proceedings against the solar module manufacturer, explicitly barring the Interim Resolution Professional (IRP) from taking any further steps until the next scheduled hearing.
- Jana Small Finance Bank: The bank successfully allotted 88.43 lakh convertible warrants to a cohort of institutional and private investors, enhancing its Tier-1 capital buffers to support mid-term credit growth.
- BASF India: Shareholders have overwhelmingly approved the structural demerger of the Agricultural Solutions business from the parent corporate entity, paving the way for focused value unlocking.
- Waaree Energies: Its Australian subsidiary, Waaree Renewable Energies Australia, has been voluntarily deregistered by the Australian Securities & Investments Commission (ASIC) and ceased to be an arm of the company effective June 10.
- CreditAccess Grameen: The microfinance lender’s board approved the formal allotment of Non-Convertible Debentures (NCDs) worth Rs 325 crore on a private placement basis to reinforce its loan book liquidity.
- Medplus Health: Disclosed that a subsidiary received two regulatory suspension orders regarding the drug licenses of its pharmacy store located in Andhra Pradesh.
- Gujarat Energy / SPR Auto Tech: State-run Gujarat Gas will officially be renamed “Gujarat Energy”, and Shriram Pistons & Rings will change its name to “SPR Auto Technologies”, with both corporate identity shifts taking effect from July 1.
- Oberoi Realty: Clarified that recent reports of it receiving RERA approval for a 14.8-acre project in Gurgaon reflect only a procedural milestone – the project has been registered on the portal, but the final physical certificate and registration number are yet to be formally issued.
- Bharat Coking Coal: A Dhanbad court formally acquitted six officials accused in a mining safety case linked to the 2013 Jamunia accident, officially disposing of the litigation filed by the State of Jharkhand.
- Apar Industries & Shanti Gold: Both companies have scheduled critical board meetings on June 30 to deliberate and approve various capital fundraising options via equity or debt routes.
- Cipla: The pharma major has scheduled its board meeting for July 23 to consider and approve its Q1 FY27 financial results.
IPO Offering
Waterways Leisure Tourism
Waterways Leisure Tourism Limited is one of India’s leading domestic ocean cruise operators, offering luxury cruise experiences focused on Indian culture, hospitality, entertainment, and cuisine.
The public issue was subscribed to 51% on day 2. The bids were led by Reail Investor (2.34x), NII (32%).
Advit Jewels
Advit Jewels is a Jaipur-based jewellery company, specializing in handcrafted fine jewellery, with expertise in Kundan, Polki, Diamond and Studded pieces under the brand name “Rambhajo”.
The public issue was subscribed to 44.16x on day 2. The bids were led by NIIs (121.16x), Retail (35.46%), QIB (1.56x).
CSM Technologies
CSM Technologies is one of the few IT solution providers that have delivered unique projects for both government and private clients.
The public issue was subscribed to 26% on day 1. The bids were led by Retail (40%), NII (53%).
Bulk Block Deals
- Afcom Holdings: Thiagaraja sold 3 lk shares at price Rs. 1163.51 per share
- Delhivery: Alpha Wave Ventures, LP sold 72.22 lk shares at price Rs. 460.03 per share and Alpha Wave Ventures LP sold 72.22 lk shares at price Rs. 460.36 per share
- Pine Labs: Axis Mutual Fund bought 96.15 lk shares at price Rs. 154 per share and Actis Pine Labs Investment Holdings Limited sold 2.39 crore shares at price Rs. 155.17 per share
- Shadowfax Technologies: Mirae Asset Late Stage Opportunities Fund sold 56.50 lk shares at price Rs. 212 per share.
Board Meeting
- Bandhan Bank – To review and consider the Capital Plan
- Magellanic Cloud – Fund Raising
- Suryoday Small Finance Bank – Fund Raising
AGM
- eMudhra
- Elecon Engineering
- Sagar Cements
- Apcotex Industries
- Adani Energy
- Adani Green Energy
- Adani Total Gas
- Oberoi Realty
- GHCL
- John Cockrill
- Cipla
Insider Trade
- Go Fashion (India): RAHUL SARAOGI Revised, promoter has revoked pledge of 46.82 lk shares.
- Tinna Rubber and Infrastructure: Bhupinder Sekhri & Sons HUF, promoter has sold 0.65 lk shares.
- MTAR Technologies: Akepati Praval Reddy, promoter group has sold 0.32 lk shares.
- Kcp: Rajiv Rangasami, promoter group has sold 0.20 lk shares.
- Bosch Home Comfort India: Bosch Global Software Technologies, promoter has sold 20.92 lk shares.
- Jindal Steel: Beaufield Holdings, promoter group has revoked pledge of 17.00 lk shares.
- List of securities shortlisted in Short – Term ASM Framework Stage: Igarashi Motors India and Oriental Hotels
- List of securities to be excluded from ASM Framework: Aegis Logistics, Aeroflex Enterprises,
- Jay Bharat Maruti, and Motisons Jewellers
Trading Tweaks
- Price Band change from 10% to 5%: Mtar Technologies
- Price Band change from 20% to 10%: Standard Engineering Technology
F&O Cues
- Nifty Jun futures is up 0.84% to 24,053.60 at a premium of 32 points.
- Nifty Options 30th Jun Expiry: Maximum Call open interest at 25,000 and Maximum Put open interest at 24,000
- Securities in ban period: None
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