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Stocks in News

• HPCL: HPCL achieved a key milestone with the commissioning of the Rajasthan Refinery, strengthening its petrochemical presence, enhancing product margins, and expanding supply capabilities in northern India.

• HONASA CONSUMER: Honasa Consumer is accelerating its health and wellness expansion through the acquisition of a majority stake in Fluence Pharma and the launch of Honasa Health to build a high-margin nutraceuticals business.

• PFC & REC: REC and PFC's proposed merger is nearing a decisive stage, with REC's board scheduled to consider the final amalgamation scheme on June 28, a key step toward creating a consolidated state-backed power sector financing entity.

• GARDEN REACH SHIPBUILDERS: Emerged as the lowest (L1) bidder for a state-backed contract valued at Rs 40 crore to supply one 15-ton Electric Bollard Pull Tug, maintaining its robust order pipeline

• SOLARIUM GREEN ENERGY: Secured an engineering milestone by winning a Rs 186 crore solar EPC subcontract to build solar infrastructures across Maharashtra.

• POWER GRID: The board will consider raising funds through domestic debentures and a potential $500 million ECB program at its June 26 meeting.

• INFOSYS: Entered a long-term AI managed services partnership with GlobalFoundries to enhance manufacturing efficiency through automation-led solutions.

• NLC INDIA: Signed a strategic MoU with IOCL to form a joint venture for developing large-scale renewable energy projects in Tamil Nadu.

• CITY UNION BANK: The board has approved a capital-raising framework to pull in up to Rs 500 crore via a Qualified Institutions Placement (QIP) route.

• IRCTC: The government accepted CMD Sanjay Jain's resignation, submitted on personal grounds.

Economic News

• Falling Oil Prices and Stronger Rupee Delay RBI Tightening Outlook: Economists now expect the RBI to delay any interest rate hike until the second half of FY27, as easing crude oil prices, rupee-supportive measures, and potential foreign capital inflows are likely to reduce inflationary pressures while supporting economic growth. Several banks have pushed back their rate-hike forecasts, with lower oil prices and rupee appreciation expected to ease imported inflation, while growth could potentially exceed the RBI’s FY27 GDP growth forecast of 6.6%.

Global News

• U.S. manufacturing hits a 3-year high as pre-emptive ordering boosts demand, but factory job cuts and inflation concerns persist: U.S. manufacturing activity strengthened for the fourth consecutive month in June, with the S&P Global Manufacturing PMI rising to a three-year high of 55.7, driven by businesses front-loading orders and inventory purchases amid concerns over supply disruptions and rising input costs linked to the Middle East conflict. While both manufacturing and services sectors supported overall economic growth, factory employment fell to its lowest level since 2020 as companies cut jobs to offset higher raw material and operating costs. Despite easing input price pressures, inflation remained elevated, prompting firms to continue passing costs to customers, reinforcing expectations that the Federal Reserve may maintain a tighter interest-rate stance

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