Markets on the Edge, India on a Mission: DIIs Rule, IPOs Bloom, and Bulls Smell Opportunity

Today's Market at 08:10am
US Market (Futures)
      Nasdaq = -27.00
      Dow Jones = +4.40
      S&P 500 = -2.00
European (Futures)
      Ftse 100 = +1.50
      Cac 40 = -0.80
      Dax = +47.30
Asian
      Nikkei 225 = +350.69
      ASX 200 = +64.40
      Straits Times = -8.69
      Hang Seng = +85.51
      KOSPI = +63.23
      Taiwan weighted = +457.55
      Shanghai (SSE) = +8.19
Gift Nifty = 24723.00 (+9.00)

FII and DII Trading Activity June 3, 2025 in Cash market:
FIIs: Net Sell of ₹2,853.83 crore
DIIs: Net Buy of ₹5,907.97 crore

Key Corporate Developments and Updates:

HDFC Bank: HDB Financial Services, a subsidiary of the bank, has received approval from SEBI to launch a Rs 12,500-crore initial public offering (IPO) within the next one year. The IPO will comprise a fresh issue of Rs 2,500 crore and an offer-for-sale of Rs 10,000 crore worth of shares by parent HDFC Bank. The bank currently holds a 94.36% stake in HDB Financial Services. [Positive]

Wipro: The company has won a multiyear deal with Entrust, a global leader in identity-centric security solutions. Wipro will provide strategic resources, scale, and agility to help Entrust accelerate its growth. [Positive]

Zydus Lifesciences: The company is acquiring two US-based biologics manufacturing facilities from Agenus for $75 million upfront and has also secured exclusive licensing rights for Agenus's next-generation immuno-oncology platforms, Botensilimab and Balstilimab. [Positive]

Ashok Leyland: The company received an order worth Rs 184 crore to supply 543 BSVI diesel chassis and fully built buses. [Positive]

Tata Chemicals: The IT department granted a refund of Rs 55.7 crore including interest. [Positive]

Servotech Renewable Power Systems: The company has received an order for a 7.8 MW grid-connected solar rooftop project from the Rangiya Division of the Northeast Frontier Railway. The order, valued at Rs 33.6 crore, also includes a comprehensive 5-year annual maintenance contract (AMC) for various buildings within the Rangiya division. [Positive]

Texmaco Rail: Texmaco Rail & Engineering Ltd announced that it has bagged a Rs 122.3 crore contract from the Mumbai Railway Vikas Corporation. This contract entails designing, supplying, constructing, installing, testing and commissioning traction transformers & associated work. [Positive]

Garden Reach Shipbuilders & Engineers: The company entered an agreement with Norway’s Kongsberg to build India's first-ever polar research vessel. [Positive]

Sun Pharma: The company announced top-line results from its Phase 2 clinical trials evaluating SCD-044. Despite this, the company is discontinuing studies of SCD-044 for atopic dermatitis after the top-line results from its Phase 2 study did not meet the primary objective. [Negative]

Indegene: Carlyle Group is set to exit a 10.2% stake in the company for at least Rs 1,420 crore. The floor price is Rs 580 per share, which is a 6% discount from the current market price. [Negative]

Yes Bank: The board approved raising funds up to Rs 16,000 crore via debt and equity. The bank will raise Rs 7,500 crore from equity and Rs 8,500 crore from debt securities. [Neutral]

One 97 Communications: The company arm, Paytm Cloud Technologies, incorporated its wholly owned arm, Paytm Singapore. [Neutral]

NLC India: The company's arm incorporated a joint venture company with Rajasthan Rajya Vidyut Utpadan Nigam to develop, operate, and maintain lignite mines and lignite-based thermal power stations. [Neutral]

Bulk Deals
Zinka Logistics Solutions (BlackBuck)

Exits/Sell-offs:
- Quickroutes International exited fully, selling 9.01% stake (1.59 crore shares) worth Rs 671.76 crore.
- Peak XV Partners sold 0.68% (12.1 lakh shares) at Rs 444.71/share.
- Accel India IV (Mauritius) sold 23.5 lakh shares at Rs 420.29/share.
- Accel Growth Fund V LP sold 25 lakh shares at Rs 420.04/share, worth Rs 203.77 crore.
Buyers:
Institutional investors including Nomura India, SBI MF, MIT, ICICI Prudential MF, ADIA, and ICICI Pru Life bought 93.39 lakh shares at Rs 420/share, worth Rs 392.3 crore.

Yes Bank: CA Basque Investments sold 82 crore shares in two tranches at Rs 21.68 and Rs 21.61/share, totaling a 2.6% stake worth Rs 1,774.89 crore.
Held 6.84% stake as of March 2025.

Vodafone Idea: Ericsson India sold 63.37 crore shares at Rs 6.76/share, valued at Rs 428.43 crore.

Aptus Value Housing Finance
Promoter Westbridge Crossover Fund LLC sold 6.2 crore shares at Rs 307.54/share, totaling Rs 1,905.91 crore.
Buyers: Morgan Stanley Asia, Axis MF, SBI MF, and East Bridge Capital acquired 1.67 crore shares (3.35%) at Rs 307/share, worth Rs 514.64 crore.

Ola Electric Mobility
- Hyundai exited, selling - entire 2.47% stake (10.88 crore shares) at Rs 50.7/share.
- Kia sold 2.71 crore shares at Rs 50.55/share, totaling Rs 689.31 crore.
Buyer: Citigroup Global Markets Mauritius bought 8.61 crore shares (1.95%) at Rs 50.55/share, worth Rs 435.46 crore.

MIC Electronics:
Multitude Growth Funds sold 12.51 lakh shares at Rs 59.93/share.

Prostarm Info Systems:
PG Foils acquired 6.29 lakh shares at Rs 120/share.

Mainboard Listing
Scoda Tubes
SME Listing
N R Vandana Tex Industries, Neptune Petrochemicals
Stocks Trade Ex-Dividend
Tata Motors, Tata Consultancy Services, Seshasayee Paper and Boards, INOX India
Stock Trades Ex-Date for Split
Coforge
Stock Trades Ex-Bonus
Shalibhadra Finance
Stock Trades Ex-Date for Rights
Franklin Industries
Stock in F&O Ban
Manappuram Finance

Source: NDTV Profit, Moneycontrol, NSE India, Investing.com