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Stocks in News

* MARUTI SUZUKI INDIA: The company’s production in May rose 1.4% YoY to 1.95 lakh units, up from 1.93 lakh units last year.

* ADANI ENTERPIESES: The company dismissed the Wall Street Journal’s report linking Adani entities to sanctioned Iranian LPG as baseless and mischievous, denying any deliberate involvement in sanctions evasion or trade of Iranian-origin LPG.

* VERITAS (INDIA): A major fire at a nearby terminal spread to the UAE office of the company’s subsidiaries but was brought under control with no casualties. Assessment of the impact is underway, and insurance coverage is in place. Meanwhile, CFO Rajaram Shanbhag has resigned.

* AWIFS SPACE SOLUTIONS: The company secured a loan facility of Rs.80 crore, including a Rs.30 crore overdraft, to fund capex for existing and new centers and reimburse eligible expenses. It will utilize the facility based on future business needs.

* HCLTECH: The company signed a deal with UiPath to boost agentic automation for global enterprises and will set up an AI lab with UiPath in India.

* SALZER ELECTRONICS: The company formed an SPV, Effilume Private, to execute a Rs.192 crore energy efficiency project in Bengaluru, awarded by the Bruhat Bengaluru Mahanagara Palike in May.

* ISGEC HEAVY ENGINEERING: The National Green Tribunal has allowed the company to resume operations at its Muzaffarnagar unit.

* TVS SUPPLY CHAIN: The company has filed an appeal with the appellate tribunal challenging the EPFO’s order on dues reassessment.

Economic News

* Factory activity falls to 3-month low in May on inflation & Pakistan conflict: India's manufacturing sector experienced a slight slowdown in May, with the PMI falling to a three-month low of 57.6 due to rising inflation and geopolitical tensions. Despite this dip, new export orders surged, leading to increased employment and improved supply chain performance. Input costs also rose, prompting manufacturers to increase selling prices.

* Duty imposed on steel, aluminum not safeguard measures: The United States rejected India's stance on steel and aluminum tariffs. America claims these are for national security, not safeguards. India reserved the right to impose retaliatory duties. The US argues India hasn't complied with obligations. GTRI suggests resolving the issue via the India-US trade agreement. They propose India impose its own tariffs as a sign of resistance.

Global News

* Macron calls for a strong Europe-Asia coalition to navigate US-China tensions and uphold global order: At the Shangri-La Dialogue in Singapore, French President Emmanuel Macron urged Europe and Asia to build a new coalition to navigate the growing U.S.-China rivalry without being caught in its crossfire. Emphasizing France’s balanced ties with both powers, Macron warned that the deepening division between the U.S. and China poses the greatest global risk. Highlighting recent defense agreements with Indonesia and Vietnam worth billions, he stressed the impact of trade uncertainties on regional economies and defense funding. Macron called for joint efforts to uphold the global order and counter “revisionist” actions, referencing China’s assertiveness in the South China Sea and Taiwan, while cautioning against accepting territorial aggressions like those in Ukraine.

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