June 17, 2026

TOP NEWS

Prime Focus: The Securities and Exchange Board of India (SEBI) has disposed of adjudication proceedings against Prime Focus (PFL), its promoters, directors, chief financial officer, and audit committee members after concluding that the alleged violations related to the company's accounting treatment of two business transfer transactions were not established. Positive

Wipro: The company announced the launch of its Applied AI Center of Excellence (CoE) for Claude models powered by Anthropic, reinforcing its commitment to accelerating enterprise AI adoption and impact. The CoE is a key initiative under the newly formed AI-Native Business & Platforms Unit. Positive

Krishna Defence and Allied Industries Limited: Krishna Defence has secured an order worth Rs. 45.64 crore from the Ministry of Defence for the supply of special steel products for a shipbuilding project. The order will be executed within 8 months and strengthens the company’s order book in the defence manufacturing segment. Positive

DOMS Industries: Italian stationery giant FILA (Fabbrica Italiana Lapis ed Affini S.p.A.) is likely to sell up to a 7% stake in DOMS through block deals, with the floor price set at Rs 2,100 per share and the total block deal size estimated at Rs 892 crore, according to media reports. Negative

HPCL: Brent crude has fallen to a 3-month low, which is positive for oil-consuming sectors as lower fuel and raw material costs can improve margins. This benefits, OMCs, aviation (InterGlobe Aviation), ceramics (Kajaria Ceramics), tyres (Apollo Tyres), and paints (Asian Paints).

Nykaa: Beauty and lifestyle retailer Nykaa has announced a collaboration with OpenAI to introduce artificial intelligence-driven shopping experiences and make its catalogue directly accessible to users through ChatGPT. As part of the multi-year agreement, Nykaa Beauty and Nykaa Fashion have been integrated as connected apps within the ChatGPT platform.

Power Grid Corporation of India Limited: Power Grid has won the WR-ER Inter-Regional Network Expansion Scheme Part-A under TBCB and received the LoI on June 16, 2026. The project involves new substations and transmission lines across Jharkhand, Chhattisgarh, Odisha, and West Bengal, strengthening inter-state power infrastructure.

Tata Motors PV: eyes industry-leading FY27 growth as new launches, EV momentum fuel optimism: Tata Motors Passenger Vehicles anticipates strong growth in fiscal 2027. The company plans new product launches and a multi-powertrain strategy. Collaboration with Jaquar Land Rover will enhance scale and efficiency. Tata Motors aims for industry-leading growth, focusing on safety, sustainability, and customer satisfaction.  Jaguar Land Rover is adjusting its strategy. The company will offer a mix of petrol, hybrid, and electric vehicles. This change comes after a challenging year for the luxury car maker. JLR faced trade disruptions, a cyberattack, and market weakness.

MACRO WRAP

• FOMC: all eyes will be on the outcome of the two-day FOMC meeting, the first to be led by new chairman Kevin Warsh While the Fed is widely expected to keep rates steady, attention will be paid to any forward guidance on the Fed’s policy outlook. With elevated inflation and a firm labour market, any signal that policymakers are leaning toward a prolonged “higher for longer” stance, will be key for the US dollar, rates and broader risk sentiment.
• Iran is set to receive a $300b redevelopment fund as part of a 14-point draft memorandum, provided by the US and its allies. US and Iran are set to sign an interim deal in Switzerland on Friday, granting Tehran broad economic incentives and allowing immediate resumption of oil exports. Negative for Oil and positive for broader market.
• US housing starts surprised significantly to the downside, with the headline growth came in at -15.5%mth in May, taking the annualised level to 1.18mn, the lowest since the height of the pandemic in the first half of 2020. The drop was almost entirely accounted for by multifamily homes, which plummeted 40.2% m/m.
• Gold rose in Asian morning trade. easing worries about energy-supply disruptions, inflation and rates has improved market sentiment and created a more favourable backdrop for gold.; a BOJ rate hike has pushed Japanese yields higher and could curb gold’s upside, while markets expect the Fed to hold rates. if the Fed’s updated economic and inflation projections remain positive, that could further support gold, and sustained central-bank buying would provide strong structural support; we see firm support near $4,000/oz.
• Oil prices, fell to their lowest level in three months on Tuesday, prices have corrected 16% in last four sessions and over 25% in June, as the US will reportedly allow Iran to immediately begin selling crude under the terms of the deal to end the conflict. Brent crude futures fell 5% to close at $78.96/bbl, the first time the international benchmark has fallen below $80/bbl since Mar. US West Texas Intermediate futures lost 5.8% to settle at $76.05/bbl. Positive for OMC’s Inr, Paint stocks.
• The Bank of Japan (BOJ) raised its policy rate by 25 bps to 1.00%, the highest in 31 years since 1995, in a 7–1 vote with Governor Ueda absent. The hike was in line with market expectations and reflected reduced downside risks to growth, while the BOJ struck a more hawkish tone on inflation, stressing that the recent dip in CPI below 2% was temporary and policy driven.
• US equities closed mixed Tuesday. Dow Jones Industrial Average rose 0.6% at the close, the S&P 500 fell 0.57% and the Nasdaq Composite declined 1.15%. SpaceX (SPCX.O) jumped roughly 17% intraday before finishing up 4.8%. The Nasdaq Golden Dragon China Index fell 2.5%; As of the close on the 16th, NYMEX light sweet crude (July delivery) fell $4.70 to $76.05/bl, down 5.82%; ICE Brent (August delivery) fell $4.21 to $78.96/bl, down 5.06%. The US dollar was relatively steady on Tue. The US dollar index (DXY) closed little changed at 99.54 (-0.09%)
• Treasury curve shifts lower: Yields fell across the curve on Tuesday, with the 10-year yield down 5.1 basis points to 4.426% and the 30-year down 5.5 basis points to 4.925%, driven by falling oil prices easing inflation concerns ahead of the Fed decision. The 1-year yield fell 1 basis point to 3.839%.

OTHER NEWS

Bank of Maharashtra: The bank has revised MCLR rates upward for 6-month and 1-year tenors, indicating a slight increase in lending rates, while short-term rates remain unchanged, impacting loan pricing across segments.

HDFC Bank: The bank’s GIFT City IFSC unit raised $750 million through senior unsecured bonds, strengthening its offshore funding base and improving liquidity diversification for future international lending and expansion plans

TCS has announced a multi-year strategic partnership with Tottenham Hotspur Football Club. Under this engagement, TCS will serve as the Club’s Digital Transformation Partner, delivering advanced solutions across fan engagement, club operations and its broader digital ecosystem.

Infosys announced a strategic, long-term collaboration with Valmet, a global technology leader in serving process industries. As a part of this engagement, Infosys will modernize Valmet’s core IT services and deliver end-to-end IT transformation 

to enhance operational efficiency and enable closer alignment between IT operations and business 

priorities.

API prices fall as West Asia tensions ease, boosting Indian pharma sector: Prices for active pharmaceutical ingredients have seen a decline of five to ten percent thanks to the calming geopolitical climate in West Asia, which has brought stability to supply chains. Indian pharmaceutical manufacturers are breathing a sigh of relief as they manage to offset rising input expenses. The development comes as a significant relief for the National Pharmaceutical Pricing Authority (NPPA), which had been examining upward price revision requests for as many as 82 drugs submitted by manufacturers, citing rising API costs, increased production expenses and exchange rate fluctuations.