Buzzing Stocks : Asian Paints, Infosys, Garden Reach, GHV Infra Projects, MCX, Bharat Electronics, Afcons Infra, UPL, Hindustan Copper in focus on 9 June.
Infosys : The global IT services company has received a communication from the Director General of GST Intelligence (DGGI) stating that the pre-show cause GST notice proceedings against the company, related to a tax demand of Rs 32,403 crore, have been closed. The closure pertains to the financial years 2018–19 to 2021–22. Infosys had earlier received and responded to a pre-show cause notice for the period July 2017 to March 2022, regarding non-payment of IGST under the Reverse Charge Mechanism.
Garden Reach Shipbuilders & Engineers : The company has signed Memorandums of Understanding (MoUs) in Sweden and Denmark to enhance its capabilities in the marine systems sector and to enter the expedition cruise segment. It partnered with Berg Propulsion (Sweden) to strengthen its marine equipment portfolio and with SunStone (Denmark) for collaboration in expedition cruise vessel development.
GHV Infra Projects : The company has received a road construction work order worth Rs 546 crore from GHV India. The project involves the strengthening and improvement of various roads in Mumbai.
Multi Commodity Exchange of India : The Multi Commodity Exchange of India has received approval from SEBI (Securities and Exchange Board of India) to launch Electricity Derivatives. This product will allow generators, distribution companies, and large consumers to hedge against price volatility and manage associated risks in the electricity market.
Bharat Electronics (BEL) : BEL has signed a Memorandum of Understanding (MoU) with Tata Electronics to explore opportunities in indigenous electronics and semiconductor development. The collaboration will focus on semiconductor fabrication (Fab), outsourced semiconductor assembly and test (OSAT), and design services. The solutions will cater to BEL’s requirements for microcontrollers (MCUs), systems-on-chip (SoCs), and monolithic microwave integrated circuits (MMICs).
Hindustan Copper and RITES : Hindustan Copper has signed an MoU with RITES to strengthen a sustainable supply chain for metals and critical minerals. The partnership aims to jointly participate in copper and critical mineral block auctions, as well as to develop, operationalise, explore, mine, and transport these resources while sharing associated risks.
Afcons Infrastructure : The company has received a Letter of Award (LoA) worth Rs 700 crore from Reliance Industries for the execution of construction works related to vinyl projects at Dahej, Gujarat.
UPL : Global seed company Advanta Brazil, part of the UPL Group, has announced that its Brazilian associate company, Serra Bonita Sementes S.A., has entered into an agreement to sell all its assets for $125 million. Advanta holds a 33% stake in Serra Bonita.
Asian Paints : The Competition Commission of India (CCI) is likely to soon pass an order to initiate a probe against Asian Paints, according to a report by CNBC-TV18 quoting sources. The investigation would be based on an antitrust complaint filed by Birla Opus Paints, a unit of Aditya Birla Group.
JK Cement : The company has completed the acquisition of a 60% stake in Saifco Cements from its shareholders and promoters, including a fresh issue by Saifco. Following this acquisition, Saifco has become a subsidiary of JK Cement with immediate effect.
Life Insurance Corporation of India : Sat Pal Bhanoo has taken charge of the financial and administrative powers and functions of the Chief Executive Officer and Managing Director of the Corporation, in addition to his existing duties. Sat Pal Bhanoo previously served as Managing Director at LIC.
NHPC : The company has declared the Commercial Operation Date (COD) for the third phase of part capacity (53.57 MW) of the 300 MW Karnisar Solar Power Project in Bikaner, effective June 7. With this, the cumulative commercial operation capacity of the project has reached 160.71 MW out of the total 300 MW.
SBFC Finance : The Board of Directors has appointed Rajiv Pravin Thakker as the Chief Risk Officer of the company for a five-year term, effective June 6.
UCO Bank : The bank has reduced its Marginal Cost of Funds Based Lending Rate (MCLR) by 10 basis points (bps) across tenures, effective June 10. It has also lowered the TBLR, G-sec linked rate, and repo-linked rate, effective June 9.
Mahindra and Mahindra : In May 2025, the company reported a 27.6% year-on-year increase in production, reaching 89,626 units. Sales grew by 16.6% to 80,458 units, while exports rose by 36.7% to 3,652 units, compared to the same month last year.
IndusInd Bank : The Securities and Exchange Board of India (SEBI) has issued a corrigendum to its interim order dated May 28 in the insider trading case involving certain entities linked to IndusInd Bank. The original order referred to a “board note” as the basis for appointing KPMG in February 2024. SEBI has now clarified that the term “board note” should be read as “engagement note", the CNBC-TV18 reported.
Poonawalla Fincorp : The NBFC, which focuses on consumer and MSME lending, has launched Business Loan 24/7, an industry-first digital loan solution for micro, small, and medium enterprises (MSMEs). The offering provides instant approval with a risk-first approach and flexible repayment options.
