From Vedanta To Adani Ports: Top Stocks In Focus On June 3
India’s benchmark stock market equity bourses, the Sensex and Nifty 50, ended a four-session losing streak on Tuesday, June 2, buoyed by gains in top IT stocks and value buying by investors.
- Republic Business
- 2 min read
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Stock In Focus: India’s benchmark stock market equity bourses, the Sensex and Nifty 50, ended a four-session losing streak on Tuesday, June 2, buoyed by gains in top IT stocks and value buying by investors.
After falling nearly 3% over the previous four trading sessions amid escalating West Asia conflict linked tensions and sustained foreign institutional selling, the BSE Sensex rebounded to close at 74,650, gaining 0.52%. Meanwhile, the NSE Nifty 50 rose 0.43% to settle at 23,484.
However, the market is expected to end its gaining streak as trends in the Gift Nifty index signalled a negative opening on Wednesday's trading session. Gift Nifty was trading near the 23,456 mark, 147 points lower from the previous close of Nifty futures.
Stocks In Focus On June 3
Vedanta
The Enforcement Directorate (ED) conducted raids in certain sites linked to the Vedanta Group and its subsidiary, Hindustan Zinc across Delhi and Mumbai. The company's official spokesperson noted that the conglomerate is fully cooperating with concerned authorities.
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Canara Bank
The public lender Canara Bank has approved a proposal to raise up to Rs 8,500 crore during FY27 through debt instruments, to bolster its capital position and funding future business expansion.
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Adani Ports and SEZ
The company reported a 15% year-on-year (YoY) increase in cargo volumes, indicating sustained growth in its port operations, whereas logistics rail volumes fell 19% compared to the same period last year.
NHPC
The central government's Offer for Sale (OFS) in NHPC Limited was subscribed 3.47 times on the first day of bidding by non-retail investors, prompting it to fully exercise the 3% greenshoe option, as per a regulatory filing dated Tuesday, June 2.
IndiGo
Amid international airspace restrictions that have led to longer flight times and increased cost pressure, IndiGo has decided to temporarily suspend its flights to and from Manchester, with effect from August 31, 2026.