Synopsis : Indian markets traded largely flat with a positive bias on June 5 as investors reacted to stock-specific developments across sectors. Wipro, Ola Electric, Groww, ACME Solar and InterGlobe Aviation were among the key stocks in focus amid buyback adjustments, fundraising activity and RBI policy announcements.
Indian benchmark indices remained range-bound during midday trade on June 5, with the Nifty 50 hovering near the 23,400 mark and the Sensex trading around 74,400. While broader market sentiment remained cautious, several stocks witnessed sharp movements driven by corporate actions, fundraising announcements, aviation developments and the Reserve Bank of India's latest monetary policy decision.
Here's a closer look at the major movers and shakers during the session.
- Wipro Slides as Stock Turns Ex-Buyback
Shares of Wipro fell nearly 4.2% during midday trade after the stock turned ex-date for its Rs.15,000 crore share buyback program.
The IT major has announced a buyback price of Rs.250 per share and plans to repurchase approximately 5.7% of its paid-up equity capital. The decline largely reflects a technical adjustment following the buyback record date, as investors purchasing shares after the record date are no longer eligible to participate in the repurchase offer.
Market participants also noted that promoter group entities have expressed their intention to participate in the buyback exercise, which is expected to conclude during the first quarter of FY27.
- Groww Gains on Goldman Sachs Investment
Groww shares advanced nearly 4% after reports emerged that Goldman Sachs acquired more than 1.13 crore shares from venture capital investor Friale through an open-market transaction worth approximately Rs.210 crore.
The deal attracted significant market attention as global institutional investors continue to show strong interest in India's rapidly expanding fintech ecosystem. Investors interpreted the transaction as a positive endorsement of Groww's long-term growth prospects.
- Ola Electric Rises After Successful QIP
Ola Electric gained over 3% after successfully completing its qualified institutional placement (QIP), raising approximately Rs.780 crore.
The electric vehicle manufacturer allotted more than 21.75 crore equity shares to institutional investors at Rs.35.86 per share. The fundraising was completed at a discount of 4.98% to the floor price and witnessed participation from both domestic and international investors.
The successful capital raise is expected to strengthen the company's balance sheet and provide additional funding for future expansion initiatives.
- IndiGo Parent Faces Pressure on Route Suspensions
Shares of InterGlobe Aviation declined nearly 2% after IndiGo announced the temporary suspension of flights to six international destinations.
Services to Langkawi, Krabi, Ho Chi Minh City, Hong Kong, Siem Reap and Shanghai will remain suspended between July and September as the airline adjusts capacity to align with prevailing demand conditions.
The company cited elevated operating costs and a challenging industry environment as key reasons behind the decision. Bookings for these routes are expected to resume from October 2026, subject to market conditions.
- ACME Solar Strengthens Balance Sheet
ACME Solar Holdings traded about 2.5% higher after successfully completing a Rs.2,800 crore QIP.
The renewable energy company stated that a major portion of the proceeds will be used to reduce debt and improve its financial position.
Investor confidence was further supported by strong FY26 financial performance. The company reported net profit growth to Rs.498 crore from Rs.251 crore a year earlier, while revenue increased to Rs.2,507 crore from Rs.1,575 crore. ACME Solar currently manages a renewable energy portfolio exceeding 8,000 MW, including battery storage projects.
- Realty Stocks Rally After RBI Policy Decision
Real estate stocks emerged among the strongest performers following the Reserve Bank of India's policy announcement.
The Nifty Realty index gained around 1.5%, with several major developers witnessing healthy buying interest:
- Prestige Estates Projects rose 2.6%
- Phoenix Mills gained 1.9%
- Godrej Properties advanced 1.1%
- DLF, Oberoi Realty, Lodha and Aditya Birla Real Estate also traded higher
The positive reaction came despite the RBI lowering its GDP growth forecast for FY27 to 6.6% from 6.9%.
- Auto Stocks Under Selling Pressure
Automobile stocks witnessed profit booking after the RBI policy outcome.
The Nifty Auto index declined around 0.6%, with several heavyweight stocks trading lower:
- Hero MotoCorp fell 1.9%
- Tata Motors declined 1.4%
- Eicher Motors slipped 1.1%
- Maruti Suzuki and UNO Minda also remained under pressure
Among the gainers, Mahindra & Mahindra, Tube Investments of India and Exide Industries managed modest gains.
- Banking Stocks Trade Mixed
Banking stocks delivered a mixed performance after the central bank maintained policy rates.
The Nifty Bank index traded higher during the session, supported by gains in several lenders:
- IndusInd Bank gained 1.7%
- AU Small Finance Bank rose 1.1%
- Punjab National Bank advanced 1%
- Yes Bank and Canara Bank also traded in positive territory
On the downside, Federal Bank, Kotak Mahindra Bank and HDFC Bank witnessed mild declines.
- Market Focus Remains Stock-Specific
With benchmark indices remaining largely range-bound, investors continued to focus on company-specific developments such as buybacks, fundraising activity, institutional investments and policy-driven sectoral opportunities.
As markets await further cues from global developments and domestic economic indicators, stock-specific action is likely to remain the dominant theme in the near term.
Disclaimer : This article is for informational purposes only and should not be considered investment advice. Investors should consult a SEBI-registered financial advisor before making investment decisions.
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