🇮🇳 India Daybook ~ Stocks in News

Positive Buzz

• Bajaj Auto: Today, June 24, marks the record date for the company’s ₹5,633 crore buyback. The buyback is priced at ₹12,000 per share via the tender route, representing a significant premium for eligible shareholders.
• HPCL: The company achieved a major milestone as its mega Rajasthan Refinery successfully declared its Commercial Operation Date (COD). This project is expected to significantly boost margins through localized supply lines in northern India.
• Infosys: The IT major has entered into a long-term AI managed services pact with global semiconductor leader GlobalFoundries. Infosys will deploy its proprietary AI architecture to optimize manufacturing workflows.
• Honasa Consumer: The parent company of Mamaearth is expanding into the health and pharma space by acquiring a 58% majority stake in Fluence Pharma for ₹135 crore.
• NLC India: The company has signed a strategic MoU with Indian Oil Corporation (IOCL) to form a Joint Venture for developing large-scale renewable energy projects in Tamil Nadu.
• Rashi Peripherals: The company signed a definitive pact to acquire a 67% controlling stake in VDA Infosolutions for ₹369 crore, diversifying its portfolio into enterprise IT and data center management.
• Wipro: Announced a global cyber defense solution partnership with Palo Alto Networks. Separately, the firm extended its timeline for the Alpha Net Consulting acquisition to September 30.

Neutral Developments

• Tata Steel: The company has officially closed its trading window effective June 24, 2026, ahead of the finalization of its Q1FY27 financial results.
• PI Industries: Strengthened its pharma segment structure by converting ₹1,000 crore worth of Optionally Fully Convertible Debentures (OFCDs) in its arm, PI Health Sciences, into fresh equity shares.
• Ex-Dividend/Bonus Actions: Shares of Shankara Buildpro and Wheels India will trade ex-dividend today. Additionally, ZF Commercial Vehicle and Kotyark Industries will trade ex-bonus.
• Market Liquidity: FIIs were marginal net buyers of ₹17.86 crore, while DIIs provided stronger support with net buying of ₹680.21 crore in the previous session.

Negative News

• IRFC: The Government of India has launched an Offer for Sale (OFS) to divest up to a 2% stake in the railway financier. Non-retail bidding opens today with a floor price set at ₹91 per share, which may put short-term pressure on the stock price.
• Vedanta: Promoter entity Twin Star Holdings sold a 6.5 crore share stake (worth approx. $250 million) via a block deal as part of the group's ongoing deleveraging efforts.
• Sectoral Pressure: The Metal and IT sectors continue to face headwinds following a global tech sell-off and weak business activity data, which led to a 1.16% drop in benchmark indices on Tuesday.

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