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Stocks in News

* WIPRO: The company has extended its partnership with global food wholesaler Metro AG for another two years, continuing to deliver integrated digital services including cloud, data, application development, and AI-driven IT support.

* ADITYA BIRLA CAPITAL: Advent International plans to sell a 1.4% stake via its affiliate Jomei Investments for Rs 856 crore, setting a floor price of Rs 237.81 per share; it held 3.84% equity as of March.

* SIS: The company will buy back shares worth Rs 150 crore at Rs 404 each, with the offer open from June 12 to June 18 for eligible shareholders.

* SONATA SOFTWARE: The company partnered with IISc’s Foundation for Science Innovation and Development to drive AI-powered scientific research and promote a responsible-first approach to AI adoption.

* RELIANCE INFRA: Reliance Defence and Germany's Diehl Defence have strengthened their strategic partnership to ensure urgent supply of Vulcano 155mm precision-guided munitions for the armed forces.

* POPULAR VEHICLES AND SERVICES: The company received Letters of Intent from Maruti Suzuki India to set up a 6,000 sq. ft. True Value outlet for pre -owned vehicles in Bengaluru, with space for 15 cars, expected to be operational by August 2025.

* CASTROL INDIA: The company appointed Vishal Thakkar as interim CFO effective June 12, while Rohit Talwar resigned as VP and Head of Marketing, effective August 8.

* ASHOK LEYLAND: Arm acquired a 1.01% stake in Switch Mobility UK from Dana, raising its holding from 98.56% to 99.57%; as a result, Optare Plc. UK and Hinduja Automotive Ltd. now jointly hold 100% of SML UK.

* INTERARCH BUILDING: The company received Rs 45 crore purchase order from Prestigious Automobile original equipment manufacturer.

Economic News

* Mango prices tumble as record harvest floods markets: Mango growers and traders in Uttar Pradesh are facing challenges. Mango prices have fallen significantly this year. Increased supply and early harvesting due to monsoon predictions are the main reasons. Totapuri mango farmers in Andhra Pradesh are also experiencing losses. Pulp factories have delayed procurement. West Bengal mango prices have also dropped due to good production and early plucking.

Global News

* UK consumer spending cools in May as rising bills and weak confidence weigh on households: British consumer spending lost steam in May after a strong April, as rising household bills and weakening confidence hit purchasing power. The British Retail Consortium reported retail sales growth slowed sharply to just 1% year-on-year—the lowest in six months—following a 7% jump in April, driven by early seasonal buying and warmer weather. Linda Ellett of KPMG noted that rising essential costs dampened spending appetite despite continued sunshine. Meanwhile, Barclays reported a similar slowdown, with overall consumer spending rising only 1% in May compared to 4.5% in April. Its consumer confidence index dropped three points to 67%, with nearly half of respondents planning to reduce discretionary spending amid concerns over persistent inflation and interest rates.

Key Highlights:

NIFTY SPOT: 25104.25 (0%)

TRADING ZONE:

Resistance :25250 (Pivot Level) and 25500 (Key Resistance). Support: 24900 (Multiple Touches) & 24800 (Key Support).

BROADER MARKET:

OUTPERFORMED MIDCAP 150: 59681.4 (0.01%), SMALLCAP 250: 18899.8 (0.14%)

VIEW: Bullish till above 24800 (Key Support).

BANKNIFTY SPOT: 56629.1 (-0.37%)

TRADING ZONE:

Resistance:57000 (Multiple Touches) / 57500 (Key Resistance) Support: 56000 (Pivot Level) / 55500 (Key Support).

VIEW: Bullish till above 55500 (Key Support).

SEBI Registration number is INH000000081.

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