Moneylife’s market breadth indicators stayed in bullish territory for five consecutive sessions, but internal momentum has weakened. The proportion of stocks above their 20‑, 50‑, and 200‑day moving averages has been sliding steadily through the week. Asian markets came under pressure this week as policy uncertainty in South Korea, disappointment over MSCI index developments and concerns around proposed tax changes triggered profit-taking in a market that had been one of the world's strongest performers. The selling quickly spread to heavily-owned artificial intelligence (AI)-linked semiconductor stocks, with Samsung Electronics and SK Hynix falling more than 12% each and dragging the KOSPI nearly 10% lower. As the two companies account for more than half of the index's market-capitalisation, the correction rapidly evolved into a broader global semiconductor selloff, fueled by concerns over AI-related valuations, memory-chip demand expectations and higher interest-rate risks. The trends of the major indices in the course of the week's trading are given in the table below:
News
Hindustan Zinc signed an MoU (memorandum of understanding) with Advantek Associates and Aero Eagle Automobiles to explore green hydrogen and clean energy solutions in mining. The collaboration focuses on feasibility studies for hydrogen technologies to support the company’s Net Zero by 2050 goal and sustainable mining operations.
Aurobindo Pharma USA received FTC approval to acquire Lannett Company LLC for US$250mn (million), expanding its complex generics portfolio and U.S. manufacturing capacity. The deal is expected to close by June-end, delivering immediate earnings accretion and long-term operational synergies.
Tata Power announced the extension of regulatory directions under Section 11 of the Electricity Act, 2003, for its Mundra thermal plant until 30 September 2026. This extension allows continued operation under the regulatory framework while Tata Power focuses on sustainable energy solutions.
Wipro expanded its partnership with Palo Alto Networks to offer AI-driven managed detection and response (MDR) services by integrating Cortex XSIAM with Wipro’s CyberShieldSM. The collaboration utilises AI and automation for enhanced cyber threat detection and response.
Delhivery partnered with Bajaj Auto to deploy 200 Bajaj RIKI eCarts in tier-2 and tier-3 cities for last-mile delivery. The eCarts feature efficient electric powertrains and aid in operational efficiency with automated route optimization, boosting earnings for delivery partners.
Ola Electric Mobility became the first Indian company to obtain BIS (bureau of Indian standards) certification for its indigenously developed 46100 LFP (lithium iron phosphate) cylindrical cell, marking a milestone for battery manufacturing in India. The cell passed rigorous safety and performance tests at an accredited facility.
Bajaj Auto Limited reported a ransomware attack on 23 June 2026, impacting its systems and those of its subsidiary, Bajaj Auto Technology. The company’s technical team promptly mitigated the issue and the incident was reported to CERT-In as per IT Act compliance.
Godawari Power and Ispat started commercial operations of a 6.91MW (megawatt) waste heat recovery power plant in Raipur on 23 June 2026, using waste heat from its pellet and ferro-alloys plants. This initiative supports the company’s energy efficiency and sustainability goals.
Jindal Saw reinstated its API licences for seamless pipes effective 24 June 2026 through 24 June 2029, enabling it to supply certified pipes globally and participate in tenders after corrective measures.
Hindustan Zinc Limited deployed India’s first 250MT (metric tonne) electric hybrid crane at its Rajasthan Zinc Smelter Debari facility as part of its green roadmap, including EV (electric vehicle) fleets and clean mobility solutions.
ICICI Lombard General Insurance received a GST (goods and services tax) demand confirmation of ₹10,35,666 plus interest and penalties totaling over ₹10 lakh for the period April 2019 to March 2020. The company plans to appeal the order and sees no immediate financial impact.
Adani group announced a ₹2 lakh crore investment plan to expand Adani Power’s generation capacity to 45GW (gigawatt) over five years, addressing India's growing energy demand. Adani Energy Solutions’ transmission order-book also rose to ₹72,000 crore, highlighting infrastructure growth.
Orders
RailTel Corporation order win from the ministry of railways valued at ₹334.52 crore involves upgrading e-Office systems with digital signature and eSign capabilities, scheduled for completion by June 2031. The contract excludes promoter or related party involvement.
Ircon International and Badri Rai & Company JV (joint venture) won a ₹763.10-crore contract from Tripura State Electricity Corporation for an underground power cable network and smart grid system in Agartala. The 24-month project includes advanced distribution and communication systems.
Apar Industries Middle East Limited secured a significant contract in Saudi Arabia, marking a strategic expansion in the region. While financial details remain undisclosed, the contract is expected to strengthen Apar’s market position and contribute positively to future performance.
Bharat Electronics won additional orders worth ₹1,081 crore for products including communication equipment, radars and avionics. These orders will enhance BEL’s robust defence portfolio and significantly bolster its order book, reaffirming its sector leadership.
Tata Motors secured over 3,400 orders for electric commercial vehicles, including 2,000 small vehicles, 900 trucks and 500 buses. This milestone highlights Tata’s leadership in India’s zero-emission commercial mobility transition, supported by a comprehensive ecosystem for fleet and charging solutions.
Garden Reach Shipbuilders & Engineers (GRSE) emerged as the lowest bidder for supplying a 15-tonne electric bollard pull tug to Shyama Prasad Mukherjee Port, Kolkata, with an estimated contract value of ₹40 crore. The move supports SMPK’s initiative to adopt environmentally friendly vessels.
Interarch Building Solutions secured new orders worth ₹375 crore in June 2026 across energy, hydrocarbon, farm equipment and renewable sectors. Key projects include a ₹165 crore energy sector contract and four large industrial projects involving advanced steel structures.
Zydus Wellness incorporated a wholly-owned subsidiary, Zydus Wellness (EU) Limited, in Ireland on 23 June 2026. The entity will operate in the Vitamins, Minerals, and Supplements sector, supporting Zydus Wellness’s international business expansion.
Shilpa Medicare commissioned a GMP (good manufacturing practices)-certified antibody–drug conjugate manufacturing facility in Dharwad, India, enhancing its capabilities in HPAPI and integrated ADC drug substance production for global pharma partners.
Biocon’s partner Duopharma Biotech Berhad secured insulin supply contracts worth over Malaysian ringgit (MYR)225mn from Malaysia’s ministry of health covering multiple insulin types to improve diabetes care under Malaysia’s health plans.
Ircon International, through a 26:74 JV with Badri Rai & Company, secured a ₹763.10 crore contract from Tripura State Electricity Corporation for the agartala smart grid project. The project includes advanced power infrastructure upgrades to be completed within 24 months.
Jupiter Wagons Limited secured orders worth over ₹264 crore for freight logistics wagons from JSW (South) Rail Logistics (₹122.88 crore) and Central Warehousing Corporation (CWC) (₹141.44 crore), with execution timelines ranging from seven months to one year.
Torrent Power completed the acquisition of Nabha Power Limited for ₹3,632.35 crore, making NPL a wholly-owned subsidiary, reinforcing its power sector presence.
Mergers/ Acquisitions / Fund-raise / Stake Sale
Suryoday Small Finance Bank plans to raise up to ₹300 crore in tier-1 capital and up to ₹200 crore in tier-2 capital through equity shares, debt securities, and other instruments, with approvals valid for 12 months.
JK Cement was declared the preferred bidder for the Gilund limestone block in Rajasthan, covering 370.96 hectares, following a government e-auction, as per Securities and Exchange Board of India (SEBI) disclosure regulations.
Titan Company fully redeemed its ₹400 crore commercial papers issued on 27 May 2026, with maturity proceeds paid on 22 June 2026, in compliance with SEBI regulations. The company has disclosed this information on its official website.
Bajaj Auto announced a ₹5,632.80 crore buyback of up to 46.94 lakh equity shares at ₹12,000 per share through a tender offer. The buyback represents 1.68% of equity capital, with 15% reserved for small shareholders and may adjust share quantity and price within the overall size.
Grasim Industries increased its stake in Aditya Birla Capital Limited by acquiring 8.09 crore shares for ₹2,879.99 crore via preferential issuance, raising its holding to 52.30%. The investment supports ABCL’s growth, loan repayments and capital augmentation.
Honasa Consumer acquired a 58% majority stake in Fluence Pharma, entering the nutraceuticals market valued at over ₹16,000 crore. This move aligns with Honasa’s strategy to offer science-backed beauty solutions combining topical and nutritional products.
Bharti Airtel completed acquiring approximately 16.3% stake in Airtel Africa from promoter ICIL, raising its total holding to about 79%. The transaction involved allotting 14.67 crore shares at ₹1,923 each to fund a ₹28,220 crore share swap.
Raymond planned acquisition in aerospace, reportedly in talks to buy German engineering firm Deharde. The company allocated ₹248 crore from its recent ₹330 crore preferential issue for acquisitions, targeting sectors like aerospace and space technology.
Top gainers and losers of the major indices for the week are given in the table below:
