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Stocks in News

* MASTEK:

The company launched ADOPT.AI, a comprehensive AI solutions suite designed to accelerate innovation and enable enterprise-wide AI adoption.

* KEYENS TECHNOLOGLY INDIA:

The company launched a QIP issue with a floor price of Rs 5,625.75 per share, aiming to raise Rs1,600 crore.

* SAI LIFE SCIENCES:

TPG Asia is likely to sell a 6% stake in the company at a floor price of Rs 710 per share, a 2.5% discount to the current market price, with the deal size estimated at ?887.8 crore, according to NDTV Profit.

* UNO MINDA:

The company will set up a greenfield aluminium die casting facility in Maharashtra to cater to rising EV demand.

* AXISCADES:

The company signed an MoU with Aldoria to enhance India’s space capabilities.

* DREAMFOLKS SERVICES:

The company clarified that reports of client shifts are unfounded, stating that annual contract negotiations are routine and unrelated to the news, and affirmed that all client relationships remain strong and intact.

* NATCO PHARMA:

USFDA concluded its inspection of the company's Hyderabad plant (June 9–19), issuing seven observations in Form 483.

* BIOCON:

The company closed its QIP at Rs 330 per share, a 3% discount to the floor price of Rs340.2 per share.

* JSW INFRA:

Arm Jaigarh Port signed an MoU with KRCL to provide a refundable security deposit for the Bhoke Railway Siding project.

* LEMON TREE HOTELS:

The company signed an agreement for a 60-room property in Limbodagari, Madhya Pradesh.

* GMM PFAUDLER:

The company entered into a Rs 330 crore agreement with a Europe-based customer for end-to-end acid recovery equipment..

Economic News

* Rare earths set to get up to Rs 5,000 crore incentive scheme: India is set to approve a Rs3,500-5,000 crore scheme to incentivise domestic production of rare earth minerals and magnets, aiming to reduce reliance on Chinese imports. This decision follows concerns raised by industries like automotive and renewable energy, which heavily depend on these critical materials.

Global News

* China's housing market weakens further as price declines deepen despite policy support: China’s new home prices fell 0.2% MoM in May, marking a continued two-year stagnation despite multiple policy support measures. The decline follows a flat April and reflects renewed pressure post-peak season due to weak demand, policy fatigue, and buyer caution. The property sector, once contributing a quarter of GDP and housing 70% of household wealth, remains in a prolonged slump since 2021, worsened by developer debt issues. Though a private survey showed a 0.3% MoM price rise across 100 cities, official data revealed a 10.7% YoY drop in property investment and a 2.9% fall in sales (Jan-May). Smaller Tier 3/4 cities continued to decline, with prices down 0.3% in May. Analysts warn of steeper drops without stronger, city-specific policy actions. The government has pledged further steps to boost demand and stabilise the sector.

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