On Wednesday, 1,399 stocks advanced, 2,818 declined and 164 remained unchanged on Bombay Stock Exchange with advance decline ratio of 0.50 indicating a negative closing. The trend of the major indices on Wednesday’s trading is given in the table below.
On NSE, securities 140 advanced and closed at a new 52-week high whereas 18 securities sank to close at their new 52-week lows. Nifty FMCG was the only gainer. Nifty Media, Nifty Energy and Nifty Metal were among the biggest losers.
Quality Power Electrical Equipments (+1.25%) plans to acquire Winwin Speciality Insulators Limited for around ₹315 crore, enhancing its high-voltage product range. The acquisition includes a modern manufacturing facility near Visakhapatnam with an 18,000 MTPA capacity for ceramic and polymeric insulators, plus strategic industrial land. Winwin’s facility meets international standards and benefits from proximity to major ports. The deal also brings the established WS Insulators brand, serving customers in 55 countries.
Wanbury Limited's (-2.22%) API manufacturing unit in Tanuku cleared Australia's Therapeutic Goods Administration inspection, earning GMP certification to export three more APIs. This expands Wanbury's reach in regulated global markets. Additionally, its Patalganga facility received GMP certification from South Korea's FDA after a successful April 2026 inspection. Wanbury remains committed to cGMP compliance and continuous operational improvements.
The Bombay High Court granted interim protection to Anil Ambani from prosecution and penalties under the Black Money Act while hearing his constitutional challenge to the law. The court allowed his appeal process to continue and barred coercive actions until final judgment. The Income Tax department alleges Ambani hid ₹814 crore in foreign accounts, with unpaid taxes of ₹420 crore. The law permits up to ten years' imprisonment plus fines if convicted.
Bharat Forge (+1.24%) secured its largest-ever carbine order from the Indian Army and entered the semiconductor sector, partnering with three of the world's largest chip companies. Defence exports now make up 40% of its revenue, marking its growth as a global defence manufacturer. The company sees major opportunities amid global geopolitical shifts and government-backed investments in defence and semiconductors. This expansion signals a strong growth outlook across multiple high-potential industries.
Concord Biotech (+4.60%) received USFDA approval for its ANDA of Tofacitinib Tablets in 5 mg and 10 mg strengths, targeting treatment for rheumatoid arthritis and other autoimmune diseases. The US market for these tablets is valued at about $500 million, presenting a significant growth opportunity. This approval strengthens Concord’s position in the US and international markets. The company has not reported any regulatory setbacks related to this approval.
Meta Platforms partnered with Clean Max Enviro Energy Solutions (+8.37%) to develop 900 MW of renewable energy capacity in India, focusing on solar and wind projects in Rajasthan and Karnataka. CleanMax will build and operate the new capacity, while Meta commits to buying all environmental attributes. This effort supports Meta’s goal of matching its energy use with 100% renewable sources to reduce its regional value chain emissions. The collaboration underlines Meta’s commitment to sustainability.
Hyundai Motor India (-0.40%) expects normal production by June 22, 2026, after a fire at supplier Mobis India Limited caused disruption mainly at Chennai Plant 1. The company is sourcing alternate parts to mitigate impact. Operations at Pune and Chennai Plant 2 remain largely unaffected. Production at the affected Chennai plant is projected to resume fully by mid-June 2026.
Welspun Corp's (-2.92%) subsidiary sold a 4.5% stake in Saudi-listed East Pipes Integrated Company (EPIC) for about SAR 283.46 million (~$75.59 million). Despite this divestment, another Welspun subsidiary retains a 22% stake in EPIC. The sale was done through negotiated trades, complying with regulations and without promoter group involvement. EPIC reported strong financials for March 2026, and no further disclosures are required for this transaction.
Anupam Rasayan India (+0.40%) launched an open offer to acquire 26% stake in Bliss GVS Pharma (+0.72%) at ₹299 per share. The offer complies with SEBI takeover regulations and is not conditional on minimum acceptance or competing bids. The draft offer letter has been filed with SEBI, and no approvals are currently required to proceed. Future regulatory approvals, if needed, will be sought before the tender closes.
Bharti Airtel (-1.32%) deployed over 2900 new 5G sites across 77 districts in Upper North India, covering Punjab, Haryana, Himachal Pradesh, and Jammu & Kashmir. This expansion benefits 28.6 million customers, enhancing speed, coverage, and reliability in urban and rural areas. The rollout supports seamless streaming, fast downloads, remote work, and digital payments. With over eight sites activated daily, Airtel is strengthening its 5G network footprint in the region.
The top gainers and top losers of the major indices are given in the table below:
The closing values of the major Asian indices are given in the table below:
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Market This Week
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Moneylife’s market breadth indicators began the week in neutral territory before slipping into emerging strength, where they remained for the rest of the week. The movement has been flattish, reflecting a market that is struggling to...
