News Overview

Tata Capital Limited witnessed profit booking after a strong rally last week, as the stock slipped 3% to ₹355.55 on June 22. The decline followed a board-approved ₹36,000 crore Non-Convertible Debenture (NCD) issuance plan that had previously triggered bullish momentum, pushing the stock to a 52-week high of ₹379.95.

Bajaj Auto has announced its largest-ever ₹5,633 crore share buyback at ₹12,000 per share. With the record date approaching, investors are evaluating eligibility, retail quota benefits, and potential returns from the tender offer.

GRSE’s Navratna status strengthens its financial and operational autonomy, supporting rapid growth in defence shipbuilding, commercial expansion, and global competitiveness.

Turtlemint Fintech Solutions' ₹882.67 crore IPO is nearing closure amid weakening grey market sentiment. The GMP has declined to ₹0.50 ahead of the final subscription day, indicating a marginal listing premium. The IPO is scheduled to list on NSE and BSE on June 29, 2026.

Asian markets closed mixed as China and Hong Kong declined on weak macro data and Fed concerns, while Japan and South Korea rallied to fresh records on AI and semiconductor momentum. India’s Nifty snapped a five-day winning streak as IT stocks fell sharply after Accenture’s weak guidance, with broader pressure from FII outflows and profit booking.

Infosys plunged to a new 52-week low of ₹1,030 amid a broad IT sector correction sparked by Accenture's weaker revenue outlook. The stock has significantly underperformed benchmark indices due to concerns around slowing global IT spending, AI-driven industry disruption, geopolitical risks, and weakening demand visibility. Heavy selling pressure erased nearly ₹40,000 crore in market value as investors reassessed growth prospects for the sector.

Indian benchmark indices snapped a five-session winning streak on June 19, 2026, with Nifty closing at 24,013 and Sensex falling 607 points. Weak guidance from Accenture sparked a broad IT sector sell-off, while profit booking and renewed FII selling further weighed on sentiment. Pharma and Defence stocks provided some support amid the broader market weakness.

Indian IT stocks witnessed heavy selling pressure after Accenture trimmed its FY27 revenue growth forecast, triggering concerns over global technology spending. Nifty IT plunged more than 6%, while Infosys, TCS, HCL Tech, Tech Mahindra, LTIMindtree, Persistent Systems, and Mphasis fell sharply. Despite strong quarterly results, Accenture's subdued outlook and concerns around discretionary IT spending weighed heavily on investor sentiment.

Vedanta Group's newly listed demerged entities bucked the broader market weakness, with Vedanta Iron and Steel emerging as the biggest winner after gaining 28% in just five sessions. The rally reflects growing investor confidence in the value-unlocking potential of Vedanta's landmark demerger, as the market begins assigning independent valuations to its aluminium, iron and steel, power, and oil and gas businesses.

Paras Defence and Space Technologies shares rallied more than 7% to a fresh 52-week high, significantly outperforming the broader market. The surge comes amid record Indian defence production of ₹1.78 lakh crore, growing optimism around a proposed ₹30,000 crore drone procurement programme, and strong technical indicators pointing to continued momentum. While defence sector tailwinds remain supportive, investors are also watching for signs of consolidation after the stock's stellar rally of more than 100% in 2026.