Key facts
- Indian benchmark indices Sensex and Nifty gained nearly 1% each.
- HCL Technologies invested Rs 1,427.25 crore ($150 million) in Sarvam AI.
- Adani Enterprises and Jabil will form an AI and data center hardware manufacturing alliance.
- Bharti Airtel will increase its stake in Airtel Africa via a Rs 28,220 crore share-swap deal.
- State Bank of India's board will consider fundraising options on June 18.
Indian equities opened the week on a strong note, with the benchmark Sensex and Nifty indices each gaining close to 1%. This upward movement was attributed to positive global sentiment, including optimism surrounding a potential Iran-US peace framework, softer crude oil prices, and supportive international cues.
Several individual stocks were in focus due to significant corporate developments. HCL Technologies announced a Rs 1,427.25 crore (approximately $150 million) minority investment in Sarvam AI, securing a 10.46% stake. GMR Airports reported healthy passenger traffic growth for May 2026, primarily driven by its Delhi Airport operations.
Adani Enterprises is set to form a strategic alliance with Jabil to establish an integrated AI and data center hardware manufacturing platform in India for both global and domestic markets. Bharti Airtel received overwhelming shareholder approval for a Rs 28,220 crore share-swap deal, which will increase its stake in Airtel Africa by 16.31%. State Bank of India's board is scheduled to meet on June 18 to evaluate fundraising options for FY27, including public offerings or private placements.
Other companies making news include Oil India, which signed a memorandum of understanding with the Council of Scientific and Industrial Research for joint research in the energy sector. Patel Engineering's joint venture secured a Rs 126.37 crore contract for an irrigation scheme in Maharashtra. Craftsman Automation announced plans to launch a Qualified Institutions Placement (QIP) to raise up to Rs 2,000 crore. Yes Bank and Northern Arc Capital have entered a partnership to expand access to credit and scale digital lending.