The Indian stock market opened in positive territory on Friday, June 5, with GIFT NIFTY futures indicating that the NIFTY50 index may open 56 points higher. According to Upstox, the domestic equity market is expected to remain in focus as the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) is set to unveil its policy decision today. Market broadly expect the central bank to keep the key policy rate unchanged at 5.25%, as it continues to adopt a cautious stance amid global uncertainties, including the West Asia conflict, which poses risks to both inflation and economic growth. An A PTI poll of economists and treasury heads indicates that the RBI is likely to maintain the status quo this time, with 11 economists expecting no change in rates, while four anticipate a 0.25% hike. The Nifty 50 was hovering around the 23,400 level, while the Sensex was trading near the 74,400 mark by midday, with attention centered on buyback-related adjustments and fundraising activity.
Indian stock markets are expected to witness stock-specific action on June 5 as investors react to a series of corporate developments across multiple sectors. According to reports from ET Now, shares of IndiGo, Ola Electric, Groww, Hyundai Motor India, Inox Green, Vodafone Idea, L&T, Maruti Suzuki and Hindalco will remain in focus following key announcements ranging from fundraising and acquisitions to new product launches, infrastructure investments and business expansion plans. The latest developments include Titan Company providing retail outlook of 8-9% market CAGR through FY30, Aurobindo Pharma receiving final US FDA approval for Tofacitinib tablets for arthritis treatment, and InterGlobe Aviation temporarily suspending flights to six international destinations as part of network optimization.
Tata Motors Chairman N. Chandrasekaran stated that the company should aim to capture more than 20% market share by 2030, provided India's passenger vehicle market expands to 6 million units by then. Meanwhile, ICICI Bank received a warning letter from SEBI in its capacity as a custodian after permitting a foreign portfolio investor (FPI) to repatriate funds before the completion of the mandatory lock-in period prescribed under the Voluntary Retention Route (VRR). Vedanta confirmed that the Enforcement Directorate (ED) has completed search operations at certain company locations under the provisions of the Foreign Exchange Management Act (FEMA), with the company clarifying that no penalties, restrictions, or sanctions have been levied against it.
Ola Electric Mobility successfully raised ₹780 crore through a Qualified Institutional Placement (QIP), which was oversubscribed by 56%, reflecting strong interest from domestic and global institutional investors. As reported by ET Now, Inox Green Energy signed a major deal to acquire Vena Energy India's 6 GW renewable portfolio for approximately ₹6,000 crore. Meanwhile, ABB India secured an order from Cochin Shipyard for power and propulsion systems for two electric tugs at JNPA. ACME Solar Holdings closed its QIP issue with allotment of 10 crore shares at ₹279.50 per share, at a 4.97% discount to the floor price of ₹294.13.
Vodafone Idea launched Silent Mobile Verification services across Meta platforms, enhancing user authentication on WhatsApp, Facebook, and Instagram. According to ET Now, Maruti Suzuki launched India's first flex-fuel passenger vehicle, supporting cleaner mobility and reducing dependence on crude oil imports. Aurobindo Pharma has secured final approval from the US Food and Drug Administration (USFDA) to manufacture and sell Tofacitinib Tablets in 5 mg and 10 mg strengths, with the approved tablets being bioequivalent and therapeutically equivalent to the reference listed drug Xeljanz Tablets.
Goldman Sachs Bank Europe SE has purchased 1.13 crore equity shares, representing a 0.18% stake, in Billionbrains Garage Ventures for ₹210.4 crore. As reported by ET Now, Larsen & Toubro (L&T) signed an MoU with Tamil Nadu for three projects worth ₹18,600 crore, expected to create over 8,000 jobs. CG Power and Industrial Solutions has started commercial production at its newly established Extra High Voltage (EHV) switchgear manufacturing facility, S3 Unit-II, located in Nashik, Maharashtra. Groww saw Friale Fund sell 1.1 crore shares at ₹185.5 per share, with Goldman Sachs Bank EU among the buyers.
