All ten stocks in India’s Nifty IT index rose on June 1, boosting the index 2.66% to 29,854 as robust US software earnings lifted sentiment. Gains were led by Persistent Systems (+4%) and supported by Tech Mahindra, Infosys and others, reversing earlier losses despite a broader market decline.
The government will sell up to 6% of NHPC Ltd via an Offer for Sale, setting a floor price of ₹71 per share with a 3% base and a 3% green‑shoe option. The OFS opens June 2 for non‑retail investors and is expected to raise roughly ₹4,200 crore for the exchequer.
South Korea’s listed market cap jumped 86% this year to about $5 trillion, pushing it past India’s $4.8 trillion and making it the world’s sixth‑largest equity market. The surge is driven by AI‑focused chipmakers Samsung Electronics and SK Hynix, which have each entered the $1 trillion valuation club.
Coinbase has opened its platform to Indian retail traders with instant rupee deposits and withdrawals via IMPS, removing the need for peer‑to‑peer transfers. The move gives users access to local order books, spot trading, perpetual futures and advanced professional tools.
Indian pharma firm Wockhardt has received FDA approval for Zaynich, an antibiotic for complicated urinary‑tract infections, becoming only the second novel drug discovered in India to win US clearance. Founder Habil Khorakiwala sees the breakthrough as vindication of an $800 million bet on antibiotic R&D and expects peak global sales of $1.5 billion.
NMDC Steel’s shares leapt 18% to ₹52.60 after the company posted a Q4 FY26 net profit of ₹391.9 crore, reversing a loss of ₹473.4 crore a year earlier. Revenue rose 36.7% YoY to ₹3,879 crore, driving a full‑year profit of ₹58.7 crore and lifting the stock to a 20‑month high.
Maruti Suzuki said it will prioritize CNG vehicles after bookings hit a record high, while postponing its plan to scale domestic EV output beyond 2,000 units a month until the second half of the fiscal year. The move comes as rivals Tata Motors and Mahindra enjoy a surge in EV sales.
In a landmark May 2026 judgment, the Delhi High Court sided with Hindware, permanently restraining Google from allowing competitors to bid on Hindware’s trademark as a sponsored search keyword. The ruling challenges Google’s core keyword‑bidding model, potentially reshaping ad revenue streams in India.
A Mint poll of 15 economists projects India’s GDP grew 7.3% YoY in Jan‑Mar FY26, a dip from 7.8% in the previous quarter but still robust thanks to steady domestic demand and government spending. The forecast implies a full‑year FY26 growth of 7.6% and signals potential moderation in FY27 amid external risks.
India’s industrial output rose 4.9% year‑on‑year in April, the first reading under a revamped Index of Industrial Production that uses 2022‑23 as its base year. The new series expands the basket to 463 item groups, adding high‑tech goods and energy‑related services, with manufacturing up 6.2% while mining fell.
SEBI proposed allowing road-focused InvITs to add major maintenance expenses financed by debt back into Net Distributable Cash Flow, improving distributions to investors. The rule requires unitholder approval of at least 60% and detailed disclosure of projects and debt. It addresses an accounting mismatch and eases business for road‑sector InvITs.
In May 2026, UPI processed 23.2 billion transactions worth ₹29.9 lakh crore, a new high for both volume and value, according to NPCI data. Growth was spurred by summer travel spending and the Indian Premier League, while average ticket size fell, indicating a maturing ecosystem.
Crude oil prices surged on June 1, with Brent climbing to $97.79 a barrel and U.S. WTI rising over 8% above $94.70, driven by fresh Middle‑East tensions and fears of prolonged supply disruptions in the Strait of Hormuz. The spike threatens higher input costs for oil‑importing economies such as India.
You’re caught up.
That was all 13 stories in the 2 June issue.