📰 India Business Brief: Top Headlines for June 02, 2026

Business Standard

• Govt to Sell 6% Stake in NHPC: The Indian government has announced an Offer for Sale (OFS) to offload up to 6% of its stake in NHPC on June 2 and 3, with a base offer size of 3% and an additional green shoe option.
• Manufacturing PMI Hits 3-Month High: India’s manufacturing sector showed robust growth in May, with the Purchasing Managers' Index (PMI) climbing to 55.0, driven by strong new orders and output.
• South Korea Overtakes India in Market Cap: Amid a massive AI-driven rally in North Asian tech stocks, South Korea has surpassed India to become the world's sixth-largest stock market.
• RBI Staff Strength Declines: For the first time in five years, the Reserve Bank of India reported a 2.2% year-on-year decline in its total staff strength, bringing the count to 13,220.
• Alkem Laboratories Block Deal: The Samprada and Nanhamati Family Trust is expected to sell a 1.5% stake in Alkem Laboratories today via a block deal with a floor price of ₹5,200 per share.

Economic Times

• GST Collections Surge: India’s Goods and Services Tax (GST) collections rose 3.2% year-on-year to reach ₹1.94 trillion in May, supported by strong import-led revenues.
• Fiscal Deficit Target Met: The government successfully met its FY26 fiscal deficit goal of 4.4% of GDP, despite global volatility and significant spending pressures.
• Oil Prices on the Rise: Brent crude futures surged toward $95 per barrel as stalled peace negotiations in the Middle East and renewed supply concerns weighed on global markets.
• Alphabet’s $80 Billion AI Push: Google’s parent company, Alphabet, has announced plans for an $80 billion stock sale to fund its massive expansion into artificial intelligence infrastructure.
• Maruti Suzuki Hits Sales Milestone: The country's largest carmaker reported its highest-ever monthly sales in May, defying broader market weakness in the passenger vehicle segment.

Mint

• India-Oman Free Trade Pact: The comprehensive economic partnership between India and Oman has officially kicked in, providing duty-free access for 99% of Indian exports to the Gulf nation.
• Ola Electric Launches QIP: Ola Electric Mobility has opened its Qualified Institutional Placement (QIP) with a floor price fixed at ₹37.74 per equity share to fund its expansion plans.
• Anthropic Files for IPO: The AI giant Anthropic has confidentially filed for an Initial Public Offering (IPO) with the SEC, signaling a new wave of public listings in the artificial intelligence sector.
• Textile Stocks Rally: Shares of textile companies surged following the government's decision to temporarily waive the 11% customs duty on cotton imports until October 2026.
• UPI Transactions Hit Record High: Digital payments in India reached a new milestone in May, with UPI transactions totaling ₹29.90 trillion in value across 23.20 billion transactions.

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