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India Market Recap
Benchmark indices stayed in negative territory in early trade, with selling pressure visible across sectors, specifically IT. Despite accounting for only about 8.5% of the Nifty 50’s weight, the sharp selloff in IT stocks dragged the benchmark index down by more than 120 points.
Nifty fell as much as 0.97% to 23,938, whereas Sensex fell 1.07% in trade to 76,578 in early trade. Nifty is trading 0.86% lower, and Sensex is trading 0.97% lower as of 9:40 am.
US Market Recap
The US Stock Market was closed on the account of Juneteenth, a federal holiday that is celebrated on June 19, to mark the end of slavery in the US.
ALSO READ | SBI Mutual Fund Gets SEBI’s Clearance To Launch IPO
Stocks To Watch
- BCL Industries: The company reports a major fire incident at its Bathinda distillery involving an ethanol tanker, with no injuries reported; fire remains under control and impact is being assessed.
- Bharat Dynamics The government appoints Shailesh Vagerwal as Chairman and Managing Director.
- Lloyds Enterprises The company will acquire a 17.98% stake in Steel Infra Solutions for Rs. 1,073 crore.
- Kirloskar Oil Engines The company secures a significant order from HyperNext for large-scale data center infrastructure.
- Wipro The company completes acquisition of an additional 20% stake in Aggne Global IT Services.
- Satin Creditcare Network The company commences operations in Kerala.
- Equitas Small Finance Bank The board will consider fundraising via debt and QIP on June 24.
- Bandhan Bank RBI approves appointment of Arun Kumar Singh as Additional Director on the board.
- Aster DM Healthcare NCLT approves merger of Quality Care with the company.
- Zaggle Prepaid Ocean Services The company enters a co‑branding partnership with Punjab National Bank.
- Amber Enterprises Il Jin Electronics will acquire a 37.5% stake in the company’s arm Ascent for Rs. 328 crore.
- MedPlus Health The company’s arm receives a one‑day drug license suspension for a Telangana store.
- John Cockerill India The company secures an order of around Rs. 90 crore from JSW JFE Electrical Steel for tunnel furnace packages.
- Goodluck India The company receives a Rs. 255 crore order for long-range empty shells.
- Bharat Forge The company signs a Rs. 425 crore contract with the Defence Ministry to supply gas turbine generators to the Indian Navy.
- Welspun Living The company extinguishes 1.4 crore shares under its buyback program.
- Karur Vysya Bank The bank hikes MCLR by 10 basis points across tenures.
- UCO Bank Executive Director Rajendra Saboo gets additional charge as MD and CEO till August 31.
- Krishna Institute of Medical Sciences The company’s QIP issue closes with allocation of 1.9 crore shares at Rs. 755 per share.
- Black Box: Approval for raising of funds by issuance of securities upto Rs. 2,500 Crores
- Reliance Industries: Proposed IPO of Jio Platform to the exchanges for approval
- Vikram Solar: NCLT Kolkata has admitted an insolvency petition against the company 9.44 crore disputed claim towards non-payment of dues for civil works subcontracted in 2018 for a solar EPC project.
- Sumeet Industries: Company issues rights of 16.84 cr equity shares, of size Rs 199.75 crore at price Rs. 11. 86 to Fund 140,000 TPA Capacity Expansion, Debt Reduction and Solar Project.
- Zota Healthcare: MoU for acquisition of Acquisition of 80% stake in M/s Globotask IT Consultancy Services.
- Som Distilleries & Breweries: The Excise Department rejects FY27 licence for the Bhopal plant; the company is pursuing legal remedies to restore the manufacturing licence.
- GIC Housing Finance: The company nominates Dabasish Prusty as Director with immediate effect.
- Affle India: Promoter entity Affle Holdings buys a 2.96% stake, increasing its shareholding to 43.6%.
- Gujarat State Energy: The company sets July 2 as record date for allotment of GSPL Transmission shares in a 1:3 ratio.
- Chennai Petroleum Corporation: The government grants Navratna status to the company.
- MSP Steel: Swagat Trexim sells a 2.27% stake, reducing its holding to 1.44%.
- Windsor Machines: The company allots 1.04 crore shares worth Rs. 150 crore via preferential allotment.
- Aurobindo Pharma: US FDA issues 5 observations after pre‑approval inspection at the Eugia Steriles Andhra unit conducted from June 10 to 19.
- Aequs: The company’s arm Aerostructures India acquires 100% stake in Aequs Aerospace France for Rs. 33 crore.
- SIS: The company acquires an additional 1.8 lakh shares in Updater Services for Rs. 3.2 crore, increasing stake to 4.63%.
- Syngene International: Shareholders approve re‑designation of Kiran Mazumdar‑Shaw as Executive Chairperson.
- Amber Enterprises: The company schedules a business update call on June 20 to discuss its manufacturing collaboration with Oppo India.
- Prestige Estates Projects: The company states there is no material development regarding its arm’s IPO and denies reports of plans being put on hold.
- Texmaco Rail & Engineering: The company receives a Letter of Intent worth Rs. 253 crore from JSW South Rail Logistics to supply BFNSM1 rakes.
- Cyient: The company’s Rs. 720 crore buyback qualifies for tier exemption under the US Securities Exchange Act.
- Himadri Speciality Chemical: Company increases Stake in International Battery Company to 20.47%, Reinforcing Commitment to Advanced Battery Technologies
- Divgi Torqtransfer Systems: Company wins strategic order for All-Wheel Drive system from an existing leading Indian OEM customer, annual supply of 6,000 units of ITM Assemblies, ECUs and PTU Assemblies, for a period of five years.
- Power Mech: Won order worth Rs 1,008.9 crore from JSW Thermal Energy.
- Uno Minda: Received PN3 approval for the Proposed Investment by lnovance Automotive (HK) Investment Co. in Uno Minda Auto Innovations.
- Electronics Mart: To close the operations of two of its Exclusive Brand Outlets (EBOs) under the brand names “Kitchen Stories” and “Samsung” situated in Hyderabad.
- Refex Industries: Received an order worth Rs 29.3 crore from a Maharatna Company for Transportation of pond ash to NHAI road projects.
- Oswal Pumps: Subodh Kumar, CFO, tendered his resignation on May 27, 2026, in order to pursue opportunities outside the Company. The Board of Directors has accepted his resignation today.
- Sun Pharma: To acquire 100% stake in Innovcare Lifesciences for Rs 271.2 crore. The company based in Mumbai and engaged in the business of marketing, distribution and sale of pharmaceutical drugs, nutraceutical and cosmeceutical products.
- STL Network: The board approved fund raise of Rs 108 crore from promoter via warrants.
- PTC Industries: The board meet on June 27 to consider fund raise via equity shares.
- Pace Digitek: Announces capacity addition of 7.5 GWh for a capex of Rs 200 crore. The company will acquire remaining 49% stake in Inso Pace – involved in the business of renewable energy, solar projects, solarisation of telecom towers and BESS solutions.
IPO Update
Turtlemint Fintech
IPO sees 45% subscription on Day 1
QIB at 73%
Retail at 29%.
Bulk And Block Deals
- Altius Telecom Infrastructure Trust: Nippon Life India Asset Management brought 15.25 lk shares, Ask Financial Holdings sold 15.25 lk shares at price Rs. 165.90 each.
- JTL Industries: ABSL Umbrella UCITS Fund PLC India Frontline Equity Fund bought 20 lk shares at Rs. 72 each.
- Knowledge Marine & Engineering Works: Dinesh Mohanlal Kewalramani sold 1.67 lk shares at Rs. 1,962 each, Kanak Sujay Kewalramani sold 3.45 lk shares at Rs. 1,962.52 each, SBI Funds Management Limited bought 4 lk shares at Rs. 1,963.17 each.
- GNA Axles: Seehra Maninder Singh sold 7.26 lk shares at Rs. 433.39 each.
- Gokaldas Exports: SBI Life Insurance Company Ltd bought 4 lk shares at Rs. 814.79 each.
- Magellanic Cloud: Dipti Jitesh Parmar sold 35.89 lk shares at Rs. 31.56 each.
- Nelco: Doshi Hitesh Satish sold 1.14 lk shares at Rs. 960.78 each.
- Pine Labs: Actis Pine Labs Investment Holdings Limited sold 98.28 lk shares at Rs. 154.25 each.
- Protean Egov Techno: IShares Cybersecurity And Tech ETF sold 3.81 lk shares at Rs. 607.16 each.
- Ravindra Energy: Nova Global Opportunities Fund PCC – Touchstone bought 9 lk shares, Radiant Computech Private Limited sold 27.88 lk shares at Rs. 36.37 each.
- Simplex Infrastructures: Pragya Mercantile Pvt Ltd sold 8 lk shares at Rs. 280.03 each.
- Sustainable Energy Infra: Askwa Income Opportunities AIF bought 20.50 k shares at, Larsen & Toubro sold 20.50 lk shares at Rs. 123 each.
Lock In Shares
22nd June 2026
KSH International: 6 months lock in, 1 mn lock in shares of value USD 8 mn, 1% of total outstanding shares
Board Meetings
20th June 2026
Utkarsh Small Finance Bank: Fund Raising
Insider trade
- DOMS Industries: FILA Fabbrica Italiana Lapis Ed Affini Spa, Promoter, disposed 42.48 lk equity shares.
- General Insurance Corporation of India: The President of India acting through and represented by the Ministry of Finance, Government of India, Promoter, disposed 8.77 cr equity shares.
- Procter & Gamble Hygiene and Health Care: Temple Trees Impex and Investment Private Limited, Promoter Group, disposed 6.19 lk equity shares, Procter & Gamble Home Products Private Limited, Promoter Group, acquired 6.19 lk equity shares.
Price Band
- Price Band change from 10% to 5%: Powerica
- Price Band change from 20% to 10%: MTAR Technologies, Paras Defence And Space Technologies
- Price Band change from 5% to 2%: Sahasra Electronic Solutions
ALSO READ | SEBI Aligns Securitisation Norms With RBI Framework, Eases Municipal Bond Rules
F&O Cues
- Nifty June futures is down by 0.48% to 24077 at a premium of 63.9 points.
- Nifty Options 23rd June Maximum Call open interest at 25000and Maximum Put open interest is also at 23500
Securities in ban period: Kaynes
Photo Credit: Bloomberg
Photo Credit: Bloomberg
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