🗞️ Daily Business Brief – june 02 2025
- FIIs & DIIs FIIs were net sellers of ₹8,362.92 crore, while DIIs remained strong buyers with net purchases of ₹9,589.32 crore in equities.
- Adani Ports & SEZ Cargo volumes increased 15% YoY, while logistics rail volumes declined 19% YoY, reflecting strong port operations despite softer rail logistics performance.
- Canara Bank Approved plans to raise up to ₹8,500 crore in FY27 through Basel III-compliant AT1 and Tier II bonds to strengthen capital adequacy and support growth.
- Concord Biotech Received US FDA approval for Mycophenolate Mofetil for Oral Suspension USP used in prevention of organ rejection in transplant patients.
- Advait Energy Transitions Signed Battery Energy Storage Purchase Agreement (BESPA) with GUVNL for development of a standalone BESS project.
- Dhanuka Agritech Share buyback offer worth ₹70 crore opens on June 4; company to repurchase up to 5 lakh shares at ₹1,400 per share.
- CBSE Chairman and Secretary transferred; inquiry committee constituted to investigate procurement of on-screen marking services.
- OYO (PRISM) Received SEBI approval for its proposed IPO.
- Infosys Shares surged after launching an AI-powered journalism platform with a German media group aimed at improving editorial productivity.
- Intellect Design Arena Launched AI-powered digital banking platform targeting financial institutions across the UK and Europe.
- Vodafone Idea ICRA upgraded the company’s credit rating to A-/Stable.
- Maruti Suzuki India has become the global export hub for e-Vitara. Company currently exports around 5,000 units monthly and targets annual exports of 7.5–8 lakh units by FY31.
- Glenmark Pharma FY27 guidance includes revenue of ₹17,000–18,000 crore, EBITDA margin of 21–22%, and net working capital days of 115–120.
- Godrej Industries Entered wealth management business under Godrej Financial, expanding its financial services vertical.
- Vedanta Company stated it is fully cooperating with authorities regarding ED investigations and remains committed to regulatory compliance.
- Morgan Stanley Economist Chetan Ahya suggested India should focus on attracting capital inflows rather than raising interest rates, citing potential economic costs of aggressive hikes.
- Airfloa Rail Technology Guided for FY27 revenue of ₹500 crore with PAT margin expected at 12–13%.
- Maharashtra Government Approved farm loan waiver of up to ₹2 lakh, benefiting nearly 56 lakh farmers under the debt relief scheme.
- IndiGo To suspend Manchester flights from August 31 due to airspace constraints and elevated operating costs.
- Maharashtra Government Acquired the iconic Air India building in South Mumbai for ₹1,601 crore.
- Mamata Machinery Granted European Union patent for its multi-purpose sealing module invention.
- Wipro Completed acquisition of an additional 20% stake in Aggne Global Inc. through its step-down subsidiary.
- B2B Software Technologies Received a USD 162,754 order for Microsoft Dynamics 365 ERP implementation across Kenya and Ethiopia.
- Bliss GVS Pharma Palghar manufacturing facility received WHO-GMP compliance confirmation from the World Health Organization.
- Power Ministry Consultative committee meeting focused on future-ready power grids, energy storage systems and renewable integration.
- Patel Retail Management remains optimistic on growth, targeting 75+ stores by FY27 and expansion into new cities across Western India.
- Mankind Pharma Acquired remaining 10% stake in Upakarma Ayurveda for ₹75 lakh, making it a wholly owned subsidiary.
- NHPC Government expanded OFS size to 6% after exercising full 3% oversubscription option.
- Germany Travel Update Germany removed airport transit visa requirements for Indian nationals travelling to third countries via German airports.
- Manas Polymers & Energies Approved incorporation of a wholly owned subsidiary in Dubai to support global expansion plans.
- Adani Ports May 2026 cargo volume stood at 48.3 MMT, up 16% YoY, while container volumes increased 17% YoY.
- Power Finance Corporation Three wholly owned subsidiaries were struck off by the Registrar of Companies effective June 1.
- Alkem Laboratories Launched Semaglutide in single-shot pre-filled syringes at ₹350, becoming the first company in India to offer this format.
- Bharti Airtel TRAI initiated an investigation into a postpaid plan over alleged net neutrality violations and sought additional information from the company.
- Servotech Renewable Power Systems Signed MoU with Haryana Enterprises Promotion Centre and plans investment of approximately ₹400 crore in clean energy manufacturing.
- MSI & Syrma SGS MSI plans laptop exports from India and expansion into AI servers. The partnership strengthens Syrma SGS’s position in high-value electronics manufacturing and enterprise hardware exports.
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