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Stocks in News

* BAJAJ FINSERV: Promoter entities Bajaj Holdings and Jamnalal Sons plan to sell shares worth Rs.5,800 crore via open market block deals on Friday, offloading up to 3.1 crore shares or 1.94% stake.

* ASHOK LEYLAND: The company received letters of intent worth Rs.1,387 crore from the Motor Vehicles Department.

* IREDA: The board approved fundraising of up to Rs.5,000 crore via QIP at a floor price of Rs.173.83 per share, with a maximum discount of 5%.

* JSW ENERGY: The company commissioned 281 MW of renewable energy (215 MW solar, 66 MW wind), raising total capacity to 12,499 MW. Its subsidiary also signed a PPA with Adani Electricity for a 250 MW STU-connected wind project.

* COAL INDIA: The company signed a non-binding MoU with Indian Port Rail and Ropeway Corporation to develop rail infrastructure for Coal India and its subsidiaries.

* BRIGADE ENTERPRIES: The company’s subsidiary incorporated “Auraterra Developers LLP” with an initial capital of Rs.99,990 to undertake real estate development projects.

* R SYSTEMS INTERNATIONAL: The company sold land worth Rs.50.5 crore in Noida and received board approval to invest, lend, or issue guarantees up to Rs.2,000 crore under Section 186.

* PRAJ INDUSTRIES: The company signed an agreement with Paraguaybased Enersur SA to set up a large-scale biorefinery in Paraguay, producing ethanol and co-products like DDGS, corn oil, SAF, biogas, and bio bitumen.

Economic News

* India coal power output drops 9.5% in May at fastest pace in five years: India's coal-fired electricity generation experienced a significant 9.5% drop in May, marking the fastest decline in five years, driven by decreased power demand and a surge in renewable energy output to a record high. Consequently, natural gas-fired power generation also plummeted, while the share of coal in the power mix reached its lowest level since June 2022.

Global News

* OECD lowers global growth forecasts amid rising trade tensions and economic uncertainty: The OECD has lowered its global growth forecast, citing the growing impact of the U.S. trade war under the Trump administration. Global growth is expected to slow from 3.3% in 2024 to 2.9% in both 2025 and 2026, below earlier estimates. Rising protectionism risks inflation, supply chain issues, and financial market instability. The U.S. economy is projected to grow just 1.6% in 2025 and 1.5% in 2026, down sharply from previous forecasts, as tariffs raise consumer costs and dampen corporate investment. While tariffs may boost domestic manufacturing, they reduce purchasing power and add uncertainty. Budget deficits are expected to widen to 8% of GDP by 2026 due to tax cuts and slower growth. Inflation pressures suggest the Federal Reserve will keep rates steady in 2024 and cut them by 2026. China’s growth is forecast at 4.7% in 2025 and 4.3% in 2026, supported by government aid. The euro area’s growth remains steady at around 1%, helped by strong labor markets, rate cuts, and German public spending. The UK’s outlook has slightly improved, with growth around 1.3% in 2025 and 1.0% in 2026, a slight downgrade from earlier estimates.

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