Market Overview
Last week ended strong after the RBI cut the repo rate by 50 basis points and announced a phased 1% reduction in the Cash Reserve Ratio (CRR), boosting investor confidence and pushing indices higher.
Company-Specific Updates
HDFC Bank
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The Lilavati Kirtilal Mehta Medical Trust has accused HDFC Bank’s MD & CEO Sashidhar Jagdishan of serious charges, requesting regulatory action.
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HDFC Bank has said it will pursue legal recourse, but this controversy could dent short-term investor confidence.
Infosys
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Relief in a major tax issue: The GST Directorate General has closed pre-show cause notice proceedings related to a Rs 32,403 crore IGST demand.
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This removes a significant regulatory overhang and could improve investor sentiment.
IndusInd Bank
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SEBI issued a correction to its interim insider trading order involving the bank, though details are sparse.
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Any regulatory development related to insider trading typically attracts market scrutiny.
Suzlon Energy
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Promoters (the Tanti family and trust) plan to sell 20 crore shares via block deal on Monday.
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Large promoter sales may put downward pressure on the stock in the short term.
Ambuja Cements
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Ambuja accounts for about 30% of cement used in Indian housing and infrastructure, signaling its growing sector influence.
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Its performance will be closely watched as a barometer of construction sector demand.
Airtel
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Airtel has reached out to 40+ banks, RBI, and NPCI to collaborate on fighting digital fraud by sharing data on fraudulent domains.
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This proactive step may boost trust in digital payments.
MCX (Multi Commodity Exchange)
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SEBI approval obtained for launching electricity derivatives, opening new product lines and attracting interest from energy traders.
Bharat Electronics Ltd (BEL)
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BEL and Tata Electronics signed an agreement to develop semiconductor and advanced electronics solutions.
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This partnership could strengthen India’s high-tech manufacturing capabilities.
Tata Steel
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Plans to start construction of an electric arc furnace-based steel plant in the UK by July 2025, aiming for operations by 2027.
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The project supports cleaner steel production aligned with environmental goals.
LIC (Life Insurance Corporation)
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Sat Pal Bhanoo appointed acting CEO and MD for three months starting June 8, following the end of the previous chairman’s term.
NHPC
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Began phase three of the Karnisar Solar Power Project expansion in Bikaner, adding 53.57 MW toward a 300 MW target.
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Supports India’s renewable energy transition.
Hindustan Copper
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Signed an MoU with government consultancy RITES for cooperation in unspecified areas, indicating future collaboration.
GRSE (Garden Reach Shipbuilders & Engineers)
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Signed MoUs during visits to Sweden and Denmark to enhance marine engineering and explore expedition cruise vessel construction.
Investor Takeaway
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RBI’s easing moves and resolution of regulatory issues (Infosys) are positive catalysts.
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Watch out for short-term volatility in stocks facing controversies or large promoter sales (HDFC Bank, Suzlon).
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Renewable energy, digital fraud prevention, and high-tech manufacturing remain key thematic growth areas (NHPC, Airtel, BEL, Tata Steel).
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New product launches and global partnerships may attract fresh interest (MCX, GRSE).
