Market News & Corporate Updates – 3rd June 2025

>> Positive Developments
Biocon: Receives approval for diabetes drug Liraglutide in India.

> PTC India Financial Services: Recovers ₹125 Cr from NSL under the resolution plan, completing full principal recovery.

> Frontier Springs: Secures orders worth ₹92.6 Cr for air springs assemblies.

> HCL Tech: Announces strategic partnership with UiPath to drive Agentic Automation for global enterprises.

> ISGEC Heavy Engineering: Granted approval by NGT to resume operations at one of its units.

> Mahamaya Steel Industries: Reports May 2025 sales of 14,518.230 MT.

> Sarda Energy: Gets environmental clearance to expand Raigarh coal washery from 0.96 MTPA to 1.8 MTPA.

> Star Cement: Successfully begins commercial production of AAC blocks.

> Yes Bank: SMBC to seek RBI approval for wholly-owned subsidiary ahead of Yes Bank stake acquisition.

> Man Industries: To raise up to ₹300 Cr via preferential allotment of warrants and equity shares.

> Mphasis: Continues to be a key FedEx service provider; other news in reports deemed speculative.

> Salzer: Forms SPV Effilume Pvt Ltd with Schnell Energy Equipment Pvt Ltd.

> Britannia Industries: Strike at Jhagadia (Gujarat) plant officially called off.

> Niva Bupa Health: M Pallonji and Co acquires 1.35 Cr shares at ₹83.95 each.

> Star Health: Promoter Setu AIF Trust acquires 12.65 lakh shares on May 27 & 30.

.> Sai Silks: Promoter SSKL Family Trust buys 1.5 lakh shares.

> Reliance Infrastructure: Targets ₹3,000 Cr in defence exports within 2 years.

> Maruti Suzuki: May production rises 1.4% YoY to 1.95 lakh units (vs. 1.93 lakh YoY).

> Neutral Developments
Aptus Value Housing: Westridge Investments to offload 9.8% stake via ₹1,495 Cr block deal.

> Zinka Logistics: Quickroutes International to sell 9% stake via block deal at ₹405/share floor price, targeting ₹647 Cr.

. Ajcon Global Services: Record date for stock split set for 20th June 2025.

> LIC Housing Finance: Appoints three senior management personnel.

> Mahindra Holidays: Appoints Ms. Asha Kharga as Chief Customer Officer.

> Matrimony.com: VP Operations Mr. Mayank Anand Jha resigns, effective 2nd June.

> Jindal Stainless: Buys 33.64% in Oyster Renewables’ 282 MW SPV, plans ₹132 Cr investment.

> Adani Group: WSJ reports US DOJ investigation on possible Iran sanctions violations. Group denies knowledge of any probe.

Everest Industries: Appoints Mr. Rajesh Gagrani as CFO.

Torrent Power: Signs LNG supply agreement (SPA) with BP Singapore for 0.41 MMTPA (2027–2036).

Mittal Life Style: Acquires 100% stake in JK Infrasol for ₹8.88 Cr.

Century Extrusions: Mr. Vikram Jhunjhunwala resigns as Chairman & MD effective 2nd June.

Latent View: Acquires 80% stake in Decision Point Pvt Ltd.

Saurashtra Cement: ICRA reaffirms credit rating (Term Loan: BBB- / Stable).

D.P. Abhushan: Company Secretary Ms. Aashi Neema resigns.

SNL Bearings: CEO Mr. Lalit Pandey resigns.

Grasim Industries: Approves fundraising of up to ₹1,000 Cr via NCDs.

Awfis Space Solutions: Secures ₹80 Cr in rupee term loan.

>>Price Band Revisions
From 5% to 2%: Shanti Overseas, Nagarjuna Fertilizers

From 20% to 10%: Apollo Micro, IFB Agro