🇮🇳 India Daybook ~ Stocks in News

Positive Buzz

• Nykaa: The company outlined an ambitious long-term growth plan at its FY30 Investor Day, targeting a valuation of over $5 billion in the beauty and lifestyle space. It expects 2-3x revenue growth and 4-5x EBITDA growth by 2030.
• Wipro: Announced a multi-year AI-led transformation and data center migration deal with METRO AG, strengthening its order book in the European market.
• Bharat Forge: Its subsidiary, Kalyani Strategic, signed a strategic pact with AM General for the development and supply of mounted artillery gun systems.
• Endurance Technologies: The company has officially commenced commercial production of lithium-ion battery packs at its new facility, involving an investment of approximately ₹62 crore.
• Amber Enterprises: Its subsidiary, IL JIN Electronics, is set to increase its stake in Ascent Circuits to 98.5% for ₹336.75 crore, aiming for complete operational control.
• Himadri Speciality Chemical: The company announced an additional investment of $5.4 million in International Battery Company to increase its stake to over 20%.
• Kirloskar Ferrous: Shares will be in focus after the company confirmed receiving a significant new export order for its casting products.
• TruAlt Bioenergy: Received approval for financial assistance worth ₹150 crore for its sustainable aviation fuel (SAF) project.
• MSP Steel: Signed a 25-year power purchase agreement (PPA) to procure 10 MWp solar power at a competitive rate of ₹3.17 per unit.

Neutral Developments

• Anthem Biosciences: Promoter sold 1.7 crore shares at ₹744.80 each; however, the impact is mitigated as HDFC Mutual Fund, ICICI Prudential, and Kotak Mutual Fund were among the prominent buyers.
• Doms Industries: FILA sold a 7% stake (42.5 lakh shares) via a block deal at ₹2,200.34 per share, totaling approximately ₹935 crore.
• Diamond Power Infrastructure: The board has approved a proposal for fundraising up to ₹2,000 crore through various instruments.
• Manappuram Finance: The board is scheduled to meet on June 23 to consider raising funds through the issuance of non-convertible debentures (NCDs).
• PNC Infratech: Incorporated a new special purpose vehicle (SPV), Mustafabad Biswariya Highway, for a recently awarded road project.
• Management Changes: GIC Housing Finance appointed Rajesh Laheri as CFO, while HG Infra Engineering named Vikas Jain as its new CFO.

Negative News

• Brigade Enterprises: The company faced a setback as the environmental clearance for its 'Brigade Morgan Heights' project in Chennai was revoked. The company plans to appeal the decision.
• IT Sector Weakness: Heavyweight IT stocks including Infosys, TCS, and Tech Mahindra saw selling pressure in the previous session, tracking hawkish signals from the US Fed despite the broader market rally.
• FII Selling: Foreign Institutional Investors (FIIs) remained net sellers in the previous session, offloading shares worth ₹1,025.20 crore, though this was largely offset by strong domestic buying.

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