June 15, 2026

 

TOP NEWS

 

War update: US and Iranian officials said they had agreed on a framework to end the war, halt the US blockade of Iran and reopen the Strait of Hormuz, a preliminary pact that sent oil prices lower but leaves the future of Iran's nuclear programme to further negotiations. US President Donald Trump wrote on his Truth Social platform around 5:30 p.m. ET (2130 GMT) on Sunday. "The Deal with the Islamic Republic of Iran is now complete," US President Donald Trump wrote on his Truth Social platform his post came right after Pakistani PM announced the deal. The memorandum of understanding is scheduled to be formally signed in Switzerland on Friday. In a statement, Iran's Supreme National Security Council said military operations on all fronts, including Lebanon, would permanently cease beginning Monday night. There was no immediate response from Israel, which has maintained that it was not a party to the US-Iran talks. In a joint statement, the United Kingdom, Germany, France and Italy said they were prepared to ease sanctions on Iran in exchange for "clear, verifiable steps" limiting Tehran's nuclear programme.The Strait of Hormuz will be opening up on Friday after MOU gets signed on Friday in Geneva. Oil prices fell by 4% to $ 82/ barrel following the announcement. Asian markets is cherishing the news with a strong gap up. All the Asian markets are up in the range of 2 to 5%. Japan touched its all time high. Gift nifty indicates a strong gap up of 384 points.

 

Patanjali Foods: Successfully resolved a tax dispute as the GST demand proceedings initiated against the company. This decision removes a potential financial liability of Rs 1352 crore plus interest that was initially claimed by the department.

 

NRB Bearings: Reduced its promoter pledge from 31.64% to 11.42% after Managing Director Harshbeena Zaveri released 1.96 Cr shares on June 11 and June 12, 2026. The release followed the pre-payment of loans with Tata Capital Limited and Aditya Birla Capital Limited.

 

Oswal Pumps: Secured three Letters of Award from NBPDCL and SBPDCL for 63 MW grid-connected rooftop solar projects worth Rs 247 crore under PM Surya Ghar – Muft Bijli Yojana, covering 57,492 consumer installations in Bihar. The CAPEX plus RESCO model project carries a cumulative revenue opportunity exceeding Rs 500 crore, including Rs 257 crore in long-term energy supply revenue over a 10-year O&M period, to be commissioned within 9 months of PPA execution.

 

Powergrid: Declared the successful bidder under tariff-based competitive bidding (TBCB) to establish an inter-state transmission system project in Andhra Pradesh. The project is titled “Transmission system for proposed Green Hydrogen / Green Ammonia projects in Kakinada area (Phase-I)” and will be developed on a Build, Own, Operate and Transfer (BOOT) basis.

 

NLC India: State-run NLC India announced that it has secured a critical mineral block in Telangana. In a regulatory filing, the company stated that it has been selected as the preferred bidder in the auction of critical and strategic mineral blocks conducted by the Ministry of Mines.

 

H.G. Infra Engineering: Received a Letter of Intent (LOI) from REC Power Development and Consultancy Limited for the WR-ER Inter-Regional Network Expansion Scheme – Part C transmission project in Jharkhand. The project will be executed through a tariff-based competitive bidding process. Financial details were disclosed earlier on May 27, 2026.

 

Dr Reddy's Laboratories : The pharmaceutical company announced the first-to-market launch of Bosutinib Tablets 400 mg, a generic equivalent of Bosulif, in the United States, further expanding its oncology portfolio. Bosutinib Tablets (400 mg) was a first-to-file product and is eligible for 180 days of generic drug exclusivity for this strength in the US. Thre sales in the US for the drug stood at $253.8 million during the latest 12-month period ended April 2026.

 

MACRO WRAP

  • IndiaInc: May CPI rose slightly less than expected by 3.9% yoy (Bloomberg consensus: 4.0%) vs 3.5% in April. It marked the sixteenth consecutive month that inflation remained below the Reserve Bank of India’s (RBI) 4% mid-point target. In the first five months of this year, inflation averaged 3.4%, below RBI’s 5.1% forecast for fiscal year (FY) 2026-2027.
  • Food prices picked up to 4.6% yoy vs 4.0% in April, and it is expected to remain elevated amid higher global fertiliser prices and a hotter summer due to the El Nino weather phenomenon. Transport inflation rose for the first time since January, gaining 1.8% vs no change in April, driven by the rise in retail fuel prices from state-owned oil marketing companies. However, Liquefied petroleum gas (LPG) inflation, which is used for cooking, softened to 2.2% vs 3.0% previously as supply of LPG expanded amid larger imports from the US and aggressive expansion in production from domestic refineries. Core CPI, which excludes food and fuel prices, rose 3.9% yoy vs 3.4% in April. This was largely due to higher gold and silver prices. Core CPI excluding precious metals was only moderately higher at 2.3% vs 2% previously.
  • US and Iran agreed to a peace deal to end the conflict and reopen the Strait of Hormuz by week’s end, allowing Persian Gulf oil shipments to resume and lifting the US blockade on Iranian ports. The pact reportedly includes dismantling Iran’s nuclear program in return for economic incentives; the official signing ceremony will take place later this week on 19 Jun in Switzerland.
  • A US-Iran agreement prompted traders to pare Federal Reserve tightening expectations and sent US Treasury yields lower across the curve, with the short end—most sensitive to policy—falling the most. Interest-rate swaps price roughly a 60% chance of a 25bp Fed hike before December, down from about 80% last Friday.  The UST Yields have dropped sharply around 4.41% Oil prices have fallen sharply over 10% in last 5 trading sessions and are down 25% in June, as the broader risk to the ME war seems to be over and market is pricing that oil market would soon be flooded with oil stuck due to Hormuz closure. US crude oil futures fell another 5% on Monday to trade around $80. Brent futures lost 4.5% to settle at $83.3bbl. Positive for Indian rupee, OMC’s , Paint co.
  • The US Michigan Consumer Sentiment Index rose to 48.9 in early June 2026 from 44.8 in May, beating expectations of 46, with the rebound helped by easing gasoline prices and strongest among lower-income consumers. Views on personal finances and business conditions improved but remain well below January and year-ago levels. Year-ahead inflation expectations slipped to 4.6% and long-run expectations to 3.4%, though inflation concerns remain elevated. US year-ahead inflation expectations fell to 4.6% in June 2026 from 4.8% in May, while the five-year outlook dropped to 3.4% from 3.9%, according to preliminary University of Michigan data.
  • The DJIA, the S&P500, and the Nasdaq Composite Index rose 0.7%, 0.5%, and 0.3% respectively. For the week, the three major indices rose 0.7% last week. The Euro Stoxx 50 jumped 2.2% last Friday and gained 2.1% for the week. The Dollar Index dipped 0.1% to 99.75 last Friday and fell 0.3% for the week. EUR-USD was slightly lower at 1.1570 last Friday and gained 0.4% for the week.
  • The US 2Y treasury yield gained 2bp to 4.08% last Friday but fell nearly 7bp for the week. The US 10Y yield rose 2bp to 4.48% last Friday but fell 5bp for the week. The German 10Y fell 4bp to 3.0%. last Friday and down 4bp for the week.. Brent crude oil prices fell 3.4% to USD87.33 last Friday and 6.2% for the week. Gold fell edged up 0.2% to USD4,219 last Friday but fell 2.5% for the week.
  • Data watch: Empire manufacturing, industrial production, and the NAHB Housing Market index today

 

OTHER NEWS

 

Ather Energy Fundraising : Ather Energy's board has greenlit a substantial fundraising plan, aiming to secure up to Rs 2,500 crore. This significant capital infusion will be achieved through a combination of equity and convertible securities, including a Rs 1,500 crore Qualified Institutional Placement and Rs 1,000 crore from various other instruments.The latest fundraising comes as Ather Energy looks to strengthen its balance sheet and invest in manufacturing capacity expansion, product development and distribution amid intensifying competition in India's electric two-wheeler market. The company had raised primary capital through its initial public offering, but had indicated that additional capital could be required to support future growth plans.

 

Auto components: India clears way for self-driving, safety car tech to reduce road deaths. India has scrapped a licence requirement for radar sensors. freeing automakers to adopt technology that helps cars avoid crashes and drive themselves by sensing surrounding objects, in a bid to make some of the world's deadliest roads safer. In a notice on Thursday, the government waived the licence requirement for radar sensors operating in the frequency band from 77GHz to 81 GHz. That lets companies enable the technology without the government having to separately. Automakers Maruti Suzuki, Tata Motors and Mahindra & Mahindra, stand to benefit from the change, as well the suppliers behind them, such as Germany's Bosch and Continental.

 

Ceinsys Tech: Ceinsys Tech and its US subsidiary have secured purchase orders worth Rs. 30.1 crore (US$ 3.16 million) from T Second Inc., USA, for NVMe drive supply and AI-based geospatial solutions. The orders strengthen the company’s AI capabilities and overseas business presence.

 

Ipca Labs: The company has signed a global licensing agreement with BRL to access its proprietary biologics delivery platform. The partnership will focus on the development of advanced monoclonal antibody therapies, specifically targeting oncology and inflammatory diseases. 

 

Aurobindo Pharma : The United States Food and Drug Administration (US FDA) inspected Eugia Unit-III, a formulation manufacturing facility of Eugia Pharma Specialities, a wholly owned subsidiary of Aurobindo Pharma, in Telangana from January 27 to February 6, 2026. The inspection concluded with 11 observations. The FDA has now classified the facility's inspection status as "Official Action Indicated" (OAI).