Indian stocks are expected to see significant action on Thursday with multiple corporate developments driving investor interest. According to reports from The Hindu BusinessLine, the government has launched an open offer for sale (OFS) to sell up to 2% stake in Indian Railway Finance Corporation (IRFC). As per Arunish Chawla, secretary at the Department of Investment and Public Asset Management, the government proposes to divest a 1% equity stake initially, with an additional 1% stake available through a green-shoe option if investor demand is strong. The floor price has been fixed at ₹91, with the OFS opening for retail investors today after non-retail investors participated on Wednesday. Institutional investors over-subscribed the government's offer for sale (OFS) on Wednesday, with non-retail investors putting in bids for over 18.74 crore IRFC shares, or 1.59 times of over 11.76 crore shares reserved for them. This divestment move comes alongside several other strategic corporate announcements, including the latest developments where promoter Srinivasan Ravi is likely to sell up to 2.01% stake in Craftsman Automation through block deals with a transaction size estimated at around ₹484 crore and a floor price of ₹925 per share. At the floor price, the IRFC stake sale will fetch over ₹2,300 crore to the exchequer, representing a 7.79% discount to Tuesday's closing price.
Swiggy is experiencing significant leadership changes with chief operating officer Ankit Jain and chief business officer Hari Kumar resigning from the quick-commerce platform, as reported by Business Standard. Sources indicate that the company has already identified a replacement for one of the positions, with the individual set to take over in the coming weeks. Meanwhile, Infosys has announced an expanded multi-year collaboration with GlobalFoundries, a leading semiconductor manufacturer, to deliver AI-led managed services across GF's enterprise IT landscape. Through this collaboration, Infosys will manage GF's end-to-end application, infrastructure, data and service desk operations, with GF selecting Infosys based on its proven track record as an incumbent technology provider and deep semiconductor domain expertise. Infosys shares gained nearly 2% following the announcement of this strategic partnership. Additionally, Rashi Peripherals Ltd has announced a strategic partnership with VDA Infosolutions, an enterprise technology and digital infrastructure solutions company specialised in enterprise IT infrastructure, cloud computing, enterprise storage, cybersecurity, and overall data lifecycle management. Rashi Peripherals shares added 2%, hitting 52-week high after the company entered into definitive agreements to acquire a 67% stake in VDA Infosolutions for ₹368.50 crore, subject to the fulfilment of customary closing conditions.
Yes Bank is scheduled to have its board meeting on June 29 to consider fundraising plans, as reported by ET Now. The board will consider a proposal for raising funds by way of issuance of eligible equity securities through permissible modes, including private placement, preferential issue, or other methods, and also evaluate borrowings or raising of funds by way of issuance of eligible debt securities. The bank may evaluate the potential fundraising, as necessary in the future, and in order to have the requisite enabling shareholders' resolution(s) in place in terms of applicable provisions of the Companies Act, 2013. Meanwhile, JSW Infrastructure has launched its Qualified Institutional Placement (QIP) issue on June 22 with a floor price of ₹290.35 per share, comprising a fresh issue and an offer-for-sale of equity shares by the Sajjan Jindal Family Trust. Tanfac Industries has approved the opening of a preferential issue on June 23, setting a floor price of ₹2,090.34 per share with a potential discount of up to 5%. Batliboi Ltd has announced the acquisition of 100% equity share capital of Penta Automation Systems Private Ltd for ₹20 crore, marking an important step in Batliboi's growth journey and strengthening its presence in industrial automation and robotics.
Power Finance Corporation (PFC) has successfully raised USD 300 million through international bond issuance, marking India's second such issuance since the RBI's special swap arrangement. The five-year bond was priced at 105 basis points above US treasuries, attracting a substantial order book. This move capitalizes on the RBI's 1.5% fixed-rate swap for external borrowings, with other major Indian banks also planning similar issuances. The success comes as companies rush to secure funding amidst expectations of potential interest rate hikes by the Federal Reserve. The Reserve Bank of India engaged vigorously in the forex market in April, offloading a net amount of $8.94 billion to protect the rupee from plunging to record lows caused by the U.S.-Iran crisis and increasing oil costs.
Pine Labs shares rose 3% after 41.9 lakh shares (0.40% equity) worth ₹63.5 crore changed hands at ₹152 per share via block deals. Interarch Building Solutions has secured a new order worth ₹165 crore, bringing its total order inflows for June 2026 to ₹375 crore, according to ET Now reports. Bharat Electronics has secured additional orders worth ₹1,081 crore since May 25, including communication equipment, radars, CBRN protection systems, seekers, avionics, upgrades, spares and services. In the technology sector, Swiggy has partnered with Zerodha Fund House to allow delivery partners to invest a portion of their earnings in mutual funds through its rider app, expanding its financial services offerings to its workforce. Hindustan Zinc has signed an MOU with Advantek Associates LLP and Aero Eagle Automobiles to explore green hydrogen and alternative clean energy solutions for underground mining applications. Solarium Green Energy Ltd has received a Letter of Award worth ₹186.525 crore for a 50 MW AC/65 MW DC Solar PV Power Project in Maharashtra under Maharashtra State Power Generation Company Limited, with operations spanning three years of O&M services.
Honasa Consumer Ltd has announced the acquisition of a majority 58% stake in Fluence Pharma, a science-backed nutraceuticals company known for its differentiated and patented Cyclical Nutrition Therapy (CNT) and strong dermatologist-led distribution network. As part of the deal, Honasa Consumer will acquire a majority 58% equity stake of Fluence Pharma via secondary purchase at ₹135 crore enterprise value, subject to closing adjustments and completion of conditions precedent, with the company acquiring the remaining 42% stake of Fluence Pharma via secondary purchase in two tranches over the next 5-7 years from the completion of the acquisition. NLC India has signed an MOU with Indian Oil Corporation (IOCL) to form a joint venture for developing large-scale renewable energy projects in Tamil Nadu, focusing on solar, wind, hybrid and energy storage projects, along with opportunities in green fuels, e-mobility and solar module manufacturing. ARSS Infrastructure Projects Ltd has received a work order worth ₹21.47 crore for improvement of Dengapola to Champahat Junction in Jagatsinghpur under State plan, while Godawari Power and Ispat Ltd has announced that its 6.91 MW Capacity Waste Heat Recovery Based Power Plant has commenced commercial operations from June 23 at its integrated steel plant in Raipur.
