On Wednesday, 2071 stocks advanced, 1933 declined and 151 remained unchanged on Bombay Stock Exchange with advance decline ratio of 1.07 indicating a positive closing in the broader market. The trend of the major indices on Wednesday’s trading is given in the table below.
On NSE, 58 securities advanced and closed at a new 52-week high whereas 30 securities sank to close at their new 52-week lows. In sectoral indices – all indices ended in green. Nifty Infrastructure, Nifty Metal and Nifty Energy were among the biggest gainers.
Sun Pharma Advanced Research Company (SPARC) plunged after its investigational psoriasis drug, Viboziimod (SCD-044), failed to meet primary endpoints in Phase two trials. The company announced the discontinuation of the drug’s development and confirmed an ongoing FDA inspection at its Halol facility.
Starlink, Elon Musk's satellite communication company is expected to receive its licence by mid-June, paving the way for its entry into the Indian market.
Ashok Leyland’s (-0.21%) subsidiary Optare Plc had acquired a 1.01% stake in Switch Mobility UK from Dana Ltd, increasing its ownership from 98.56% to 99.57%. With Hinduja Automotive’s stake, the group now holds full 100% ownership of Switch Mobility UK.
Maruti Suzuki (+0.29%) had expanded its solar capacity by 30MWp with new projects at Kharkhoda and Manesar, commissioning a 20MWp facility at Kharkhoda and adding 10MWp at Manesar. By FY30-31, the company aims to scale its overall solar capacity to 319MWp, with an investment of over Rs925 crore, targeting 85% renewable energy usage in total electricity consumption.
Adani Airports secured $750 million in global financing through external commercial borrowings (ECB), with First Abu Dhabi Bank, Barclays PLC, and Standard Chartered Bank as lenders. The funds will refinance $400 million in existing debt and support growth capex for six airports and non-aero businesses. The company served 94 million passengers in FY24-25 and aims to triple capacity to 300 million by 2040, with Navi Mumbai Airport’s Phase-1 launch expected soon.
Marico (-0.08%) entered the cold pressed oils market under its Saffola brand, introducing a range featuring dual seed (Groundnut & Sesame) and single seed (100% Mustard) oils. Designed to support heart health with balanced MUFA & PUFA content, the products start at Rs356 for 1 litre mustard oil and are launched via quick commerce platforms, marking a strategic expansion of Saffola’s healthy cooking oils portfolio.
Coforge (+1.44%) received merger approval for consolidating its subsidiaries—Coforge Services Ltd (CSL), Coforge SmartServe Ltd (CSSL), and Coforge SF (SF)—into Coforge DPA, a wholly owned subsidiary. The move aligns with Coforge’s entity simplification strategy to enhance operational efficiency.
Epigral (-0.50%) signed agreements with Pro-Zeal Green Power Ten to source 19.80 MW Wind-Solar Hybrid (WSH) power in Gujarat. As a captive consumer, the company has executed an Energy Supply Agreement and will acquire a 26% stake through a Rs21.38 crore investment in equity and optionally convertible debentures (OCDs). The Power Producer SPV, incorporated in January 2025, is yet to commence operations, aligning with Epigral’s sustainability and expansion goals.
Tilaknagar Industries (+0.94%), known for its Mansion House brand, is leading the race to acquire Pernod Ricard’s Imperial Blue whiskey in a $600 million deal. If finalized, this would be the largest M&A transaction in the liquor industry since 2013.
Man Industries (+0.59%) allotted 25 lakh equity shares through warrant conversions, raising its equity share capital to Rs33.61 crores. The transaction has led to a change in the shareholding structure of Man Finance Private Limited, a promoter group entity.
Welspun Aunta-Simaria Project, a subsidiary of Welspun Enterprises (-0.02%), received the provisional commercial operations date (PCOD) from NHAI for the 4/6-laning of the Aunta–Simaria (Ganga Bridge) section of NH-31 in Bihar. The 8.15 km project, executed under the Hybrid Annuity Mode (HAM).
Caplin Point laboratories (-0.47%) subsidiary will acquire Triwin Pharma S.A DE C.V in Mexico, strengthening its pharmaceutical marketing and distribution capabilities. The move supports tender sales and enhances a stock-and-sale model in LATAM markets, marking a positive expansion for the company.
National Company Law Appellate Tribunal (NCLAT) suspended the May 30 order by NCLT Mumbai that admitted Reliance Infrastructure into the Corporate Insolvency Resolution Process (CIRP). This decision follows the company’s appeal in case C.P. (IB)/624(MB)2022, putting the insolvency admission under IBC on hold until further notice.
Bharat Electronics Limited (BEL) (+1.19%) secured fresh orders worth Rs537 crores. The contracts cover communication equipment, ship-based composite communication systems, jammers, software and simulator upgrades, spares, test rigs, and services.
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:
