📈 Market Overview

Indian equity benchmarks are poised for a higher open today, buoyed by positive trends in Asian markets. The MSCI Asia ex Japan index rose 0.8%, supported by a rally in South Korean stocks reaching an 11-month high following election optimism, alongside gains in Hong Kong. In the U.S., stock indices closed mixed, while Treasury yields and the dollar declined after services sector data showed contraction for the first time in a year, adding to expectations ahead of U.S. employment data. Lower Treasury yields typically favor emerging markets like India. Foreign investors resumed buying Indian equities, with net purchases of ₹10.76 billion ($125.3 million), and domestic institutions continued their buying streak for a 12th consecutive session. Markets are also anticipating the Reserve Bank of India's monetary policy decision on Friday, where a 25 basis point rate cut—potentially the third consecutive one—is expected.

• Hindustan Aeronautics Ltd (HAL)
  HAL has denied reports of stalled negotiations with General Electric regarding the local production of GE414 engines. The company reaffirmed its commitment to the Light Combat Aircraft (LCA) Mk2 program.

• REC Ltd
  The board has approved a proposal to raise up to ₹1.55 lakh crore through private placement of bonds or debentures, subject to shareholder approval at the upcoming AGM.

• Gland Pharma
  Its subsidiary Cenexi received an inspection report noting 11 observations on Good Manufacturing Practices (GMP) at its Fontenay facility. The company is preparing corrective actions.

• PowerGrid Corporation
  Completed the acquisition of MEL Power Transmission Ltd (MPTL) for ₹8.53 crore. This includes equity shares and the transfer of all assets and liabilities.

• Vedanta Ltd
  The company has scaled its renewable energy capacity to 1.03 GW and is targeting 2.5 GW by 2030. This supports its mission to achieve net-zero emissions by 2050 or earlier.

• YES Bank
  On investor watch due to increased trading volumes and institutional activity in the banking sector.

• Waaree Energies (via Indosolar)
  Plans to offload 4,76,495 shares (1.15% stake in Indosolar Ltd) through an Offer for Sale (OFS) on June 5 and 6 to meet public shareholding norms.

• Newgen Software Technologies
  The stock is being closely tracked due to expected price action and corporate developments.

• NTPC Green Energy (NTPC Renewable Energy)
  Signed a Power Purchase Agreement for 1,000 MW renewable capacity at a tariff of ₹2.56 per kWh.

• Reliance Infrastructure
  In focus today due to recent market activity and investor interest.

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  📅 Upcoming Events

• RBI Monetary Policy Decision: Scheduled for Friday, June 6, with expectations of a 25 basis point rate cut, potentially the third consecutive one.

Source: Taken from multiple websites

Disclaimer
The information provided in this media release is based on current facts and circumstances as of the date of publication. It may contain forward-looking statements, including but not limited to projections, expectations, or assumptions about future events or performance. These forward-looking statements are subject to risks, uncertainties, and other factors that may cause actual results to differ materially from those anticipated. Hester Biosciences Ltd does not undertake any obligation to update, revise, or correct any forward-looking statements based on new information or future events. This release is intended for informational purposes only and does not constitute financial, investment, or professional advice.