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Reading: Sensex Drops Over 700 Points, Nifty Below 23,300 as IT Stocks Weigh Down Market
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Stock Market Live, June 3: Sensex falls over 700 points, Nifty below 23,300 as IT stocks drag markets lower
Breaking India News Today | In-Depth Reports & Analysis – IndiaNewsWeek > Economy > Sensex Drops Over 700 Points, Nifty Below 23,300 as IT Stocks Weigh Down Market
Economy

Sensex Drops Over 700 Points, Nifty Below 23,300 as IT Stocks Weigh Down Market

Indianewsweek By Indianewsweek June 3, 2026 7 Min Read
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John Cockerill has secured a major order from JSW Vijayanagar Metallics valued at approximately ₹1,250–1,300 crore, signaling a positive development for the company.

Blue Cloud announced the identification of 196.7 acres of contiguous land in Chhatrapur, Odisha, for its expansion plans, which is viewed positively.

B.R. Goyal Infrastructure has received a ₹118 crore work order from NHAI for the Kathpur fee plaza project in Gujarat, marking another positive milestone.

Concord Biotech gained USFDA approval for mycophenolate mofetil oral suspension ANDA, targeting a market opportunity valued at approximately ₹285 crore.

Sharika Enterprises has been awarded a work order under Uttarakhand’s Ganga corridor RDSS scheme, aimed at improving the infrastructure for SCADA, RTU, FRTU, and distribution automation.

Aditya Birla Fashion and Retail Limited (ABFRL) reported that Caladium Investment Pte. Ltd. acquired 26,32,904 shares, representing 0.22% of the company’s total share capital.

Adani Ports reported a cargo volume of 48.3 million metric tons (MMT) in May 2026, reflecting a 16% year-over-year increase, which is seen as a positive outcome.

Concord Enviro’s arm secured a ₹16 crore order for zero liquid discharge systems, contributing to the firm’s growth trajectory.

Advait Energy has initiated a 150 MW/300 MWh standalone Battery Energy Storage System (BESS) project near GETCO’s 220kV Bhesan substation in Gujarat.

Aequs Ltd.’s subsidiary has received incentives under Karnataka’s Special Incentives Scheme for the ESDM Sector from 2020 to 2030, enhancing its strategic position.

Pondy Oxides expanded its lead recycling capacity by 55% to 204,000 MT per year and doubled its copper capacity to 12,000 MT per year, showcasing operational enhancement.

Prozone Realty’s shareholders approved the disinvestment of its subsidiaries, with a potential sale consideration of up to ₹1,242.50 crore.

Hexaware Technologies announced enhancements to its Agentverse™️ platform, integrating new governance, development, and lifecycle management features.

Borosil Renewables and Asahi India Glass have been subjected to Counter-Vailing Duty (CVD) on textured tempered glass, providing a protective measure for their market.

Epack Prefab secured an order worth ₹165 crore for the supply of cells and modules, reinforcing its business strategy.

Restaurant Brands Asia is set to allot shares worth ₹900 crore and warrants worth ₹600 crore to Lenexis Foodworks, marking a significant financial transaction.

V-Mart Retail announced that ICRA has reaffirmed its credit ratings concerning the company’s bank facilities, which is considered neutral news.

Canara Bank’s Board of Directors approved a capital raising plan of up to ₹8,500 crore for FY27 through debt instruments, a strategic decision viewed as neutral.

Sayaji Hotels has received a reaffirmation of its credit ratings from CRISIL Ratings Limited, viewed as a neutral update.

The buyback offer for Dhanuka Agri is set to open on June 04, 2026, and close on June 10, 2026, providing an opportunity for shareholders.

Hindustan Copper has appointed Mr. Shyam Sundar Sethi as Executive Director (Operations) – Production, which is reported as a neutral appointment.

Elantas Beck has approved an investment of ₹56 crore to expand the manufacturing capacity at its Ankleshwar plant, reflecting ongoing investment activity.

Power Finance Corporation (PFC) announced that Shri V. Packirisamy has assumed his position as Director (Commercial) on the board, a move assessed as neutral.

NHPC’s Offer for Sale (OFS) expanded to 6% as the government exercised a full 3% oversubscription option, a development with neutral implications.

La Tim Metal acquired a 50.1% stake in La Proviso Buildcon LLP, thus making it a subsidiary, a step regarded as neutral.

Protean eGov has named Ajay Rajan as MD & CEO, replacing V Easwaran as Interim CEO, an internal leadership change considered neutral.

Manas Polymers & Energies plans to incorporate a wholly owned subsidiary in Dubai to facilitate global expansion, a strategic move noted as neutral.

Delhivery has incorporated a wholly owned subsidiary named ‘Delhivery Fintech Distribution’ to expand its fintech operations, which is a neutral expansion initiative.

Indian Overseas Bank received an IFSCA license to establish an IFSC banking unit at Gift City, Gujarat, marking a neutral expansion in operations.

Delhivery noted the incorporation of a new subsidiary, ‘Delhivery Fintech Distribution’, reiterating its focus on diversifying its business lines.

Elpro International announced the acquisition of 92,000 shares in Jana Small Finance Bank, which reflects an investment move deemed neutral.

Onix Solar Energy has approved the allotment of 1.2 crore shares valued at ₹60.2 crore, part of its financial strategies classified as neutral.

Ghanshyam Das resigned as Chairman of String Metaverse, with Dr. Sethurathnam Ravi appointed as the new Chairman, a transition viewed as neutral.

Wipro completed the acquisition of an additional 20% stake in Aggne Global Inc., enhancing its investment portfolio in a neutral manner.

Infosys announced an expansion of its strategic collaboration with DNB Bank to modernize financial crime operations, a partnership considered neutral.

Kalpataru has withdrawn its proposed Project Magnus demerger, a decision reflected as neutral in the market.

InterGlobe Aviation announced the discontinuation of flights to and from Manchester, effective August 31, due to challenging cost and operational conditions, a move rated as neutral.

Neogen Chemicals reported that Axis Mutual Fund sold 2.6 lakh shares at ₹1,788.0 per share, representing a neutral change in holdings.

A list of stocks included in the Long-term ASM Framework now includes Wockpharma, which has implications for monitoring.

New additions to the short-term ASM Framework include Aditya Info, Kernex Micro, V Marc, and Yasho Industries, with regulatory oversight.

The following companies—Shaily Engineering Plastics and KDDL—have been excluded from the ASM Framework, indicating a shift in regulatory focus.

A circuit filter change has been instituted from 10% to 5% for Dynacons, reflecting a regulatory adjustment.

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