CMR Green Technologies IPO subscribed 2.45 times

by Hansraj Agrawal | Jun 3, 2026 | Share Market

The offer received bids for 5.65 crore shares as against 2.30 crore shares on offer.

CMR Green Technologies received bids for 5,65,49,532 shares as against 2,30,43,930 shares on offer, according to stock exchange data at 17:00 IST on Wednesday (3 June 2026). The issue was subscribed 2.45 times.

The issue opened for bidding on 3 June 2026 and it will close on 5 June 2026. The price band of the IPO is fixed between Rs 182 and 192 per share. An investor can bid for a minimum of 78 equity shares and multiples thereof.

The offer comprises a net offer for sale of up to 3,28,58,323 equity shares. The offer for sale by the selling shareholders comprises up to 49,59,428 shares by Mohan Agarwal, up to 10,00,000 shares by Gauri Shankar Agarwal HUF, up to 5,00,000 by Mohan Agarwal HUF and up to 2,63,98,895 shares by Global Scrap Processors.

Ahead of the IPO of CMR Green Technologies on 2 June 2026, the company raised Rs 188.43 crore from anchor investors by allotting 98.14 lakh shares at Rs 192 each to 18 anchor investors.

CMR Green Technologies (CMRG) is engaged in the recycling of non-ferrous metals and produces secondary aluminium and zinc die-casting alloys. Along with non-ferrous metals, the firm also offers aluminium billets serving automotive and non-automotive sectors. These billets, made from recycled aluminium, are raw materials used in extrusion processes to create profiles for various applications. Honda Cars India, Bajaj Auto, Hero MotoCorp, Royal Enfield Motors, and India Yamaha Motor are the major OEM customers of the company. As on December 31, 2025, the company has 784 permanent employees and 3,956 contractual workmen.

For the nine months ended 31 December 2026, the firm recorded a consolidated net profit of Rs 148.09 crore and income from operations of Rs 6,275.52 crore.

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Nikkei surges past 68,000 on tech rally

by Hansraj Agrawal | Jun 3, 2026 | Share Market

Last Updated : Jun 03 2026 | 5:04 PM IST

Japans Nikkei 225 Index jumped more than 2% on Wednesday, closing above the 68,000 mark for the first time and setting a fresh record high. The rally was powered by strong gains in technology stocks, with optimism around artificial intelligence opportunities outweighing concerns over stalled USIran peace talks.

Chipmaking equipment giant Tokyo Electron surged 13.4%, while semiconductor testing equipment maker Advantest rose 5.1%. Other notable performers included Kioxia Holdings (+0.7%), Fujikura (+9.3%), and Furukawa Electric (+4.3%).

Japanese firms are playing a key role in building global AI infrastructure, positioning them to benefit from the sectors rapid expansion. Investor sentiment remained upbeat, focusing on growth prospects in AI-related industries despite ongoing geopolitical uncertainty.

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First Published: Jun 03 2026 | 5:04 PM IST

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IEX electricity volume climbs 9% YoY to 12,983 MU in May'26

by Hansraj Agrawal | Jun 3, 2026 | Share Market

Indian Energy Exchange (IEX) announced that it has achieved monthly electricity volume of 12,983 MUs in May 2026, registering a growth of 18.6% YoY.

During the month, the company has traded 6.10 lakh renewable energy certificates, recording a 65% YoY increase.

According to government data released in May 2026, India’s electricity consumption rose 11.5% year-on-year to 164.98 billion units, reflecting robust power demand across the country.

The Day-Ahead Market (DAM) registered a traded volume of 4,417 MU in May 2026, compared with 3,535 MU in May 2025, representing a growth of 24.9% year-on-year. The Real-Time Electricity Market (RTM) achieved a volume of 5,529 MU during the month, up 15.9% from 4,770 MU recorded in the year-ago period.

IEX Green Market, comprising the Green Day-Ahead and Green Term-Ahead Market segments, achieved 1,034 MU volume during May26 as compared to 915 MU in May25, increase of 13% YoY. The weighted average price in Green Day-Ahead Market (G-DAM) for May26 was at Rs 3.60/ unit, remaining largely flat on a year-on-year basis.

A total of 6.10 lakh RECs were traded in May 26, down 65% YoY. Trading sessions were held on 13th May26 and 29th May26, with clearing price of Rs 400/REC. Sell bids declined by 85.3% YoY, leading to a rise in clearing prices during May2026.

The next REC trading sessions at the Exchange are scheduled on 10th June26 and 24th June26

Indian Energy Exchange (IEX) is India’s premier electricity exchange providing a nationwide, automated trading platform for physical delivery of electricity, renewable power, renewable energy certificates and energy saving certificates.

The company has reported 10.8% rise in consolidated net profit to Rs 129.77 crore on a 22.5% increase in net sales to Rs 174.30 crore in Q4 FY26 as compared with Q4 FY25.

The counter fell 1.60% to settle at Rs 123.20 on the BSE.

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IndusInd Bank clarifies it has not received regulatory communication on whistleblower complaint

by Hansraj Agrawal | Jun 3, 2026 | Share Market

IndusInd Bank on Wednesday clarified that it has not received any communication from any government or regulatory authority regarding the whistleblower complaint referred to in recent media reports.

The clarification came after stock exchanges sought the bank’s response to a news report titled “IndusInd Bank share falls over 2% after report of fresh whistleblower complaint to PMO, RBI.”

In its filing, the bank said it had not received any communication from authorities regarding receipt of the alleged complaint.

The lender further stated that all concerns mentioned in the news report had been examined previously and that appropriate actions had been taken in accordance with its internal policies and applicable regulatory requirements.

The bank said it had proactively reported certain matters to relevant authorities and continues to extend full cooperation in line with regulatory obligations.

IndusInd Bank also said it has consistently followed established governance and oversight processes while addressing such matters. It added that conclusions based on unverified allegations may not present a complete or accurate picture of the situation.

The clarification follows media reports that a whistleblower complaint had been submitted to the Prime Minister’s Office, the Reserve Bank of India and other agencies. The complaint reportedly sought an investigation into alleged insider trading, governance failures and shortcomings in forensic and audit reviews linked to a previously disclosed Rs 2,000-crore discrepancy at the bank.

According to the report, the complaint names Samir Agarwal, former zonal head of eastern India at IndusInd Bank. It alleges insider trading, manipulation of financial records, evergreening of microfinance loans and suppression of audit findings.

The report further claimed that Agarwal made gains of around Rs 46 crore through share transactions worth nearly Rs 815 crore. It also alleged that confidential information was used to facilitate trades by family members and related entities.

Indusind Bank offers a wide range of products and services for individuals and corporates, including microfinance, personal loans, personal and commercial vehicle loans, credit cards and SME loans.

The bank reported a standalone net profit of Rs 532.71 crore in Q4 FY26, compared with a net loss of Rs 2,235.99 crore in the corresponding quarter last year. Total income rose 12.07% year-on-year (YoY) to Rs 12,711.77 crore in Q4 March 2026.

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India's Economy Shows Resilience Amid Global Uncertainty, Driven by Strong Domestic Demand and Services Exports

by Hansraj Agrawal | Jun 3, 2026 | Share Market

Indias economy continues to demonstrate resilience despite rising global uncertainty arising from the West Asia conflict and disruptions across energy and logistics channels. Prior to escalated geopolitical tensions, economic activity was robust through the first two months of CY 2026, supported by broad-based strength across both supply and demand indicators.

The Purchasing Managers Index (PMI) for manufacturing rose to a four-month high of 56.9 in February 2026 while the services PMI stood at 58.1. This indicates sustained expansion across both sectors. Industrial activity was supported by strong performance in domestic demand-driven segments such as steel and cement, with steel production growing by 7.2% and cement output by 9.3% in February 2026. This reflects continued infrastructure momentum and public capital expenditure support.

Considering the demand side, retail automobile sales expanded by 25.2% YoY in February 2026, with strong growth across two-wheelers, commercial vehicles and tractors, while digital payments volume increased by 26.6%, indicating resilient consumption demand. Indias growth momentum remains broad-based, although external shocks pose near-term downside risks due to the support of sustained capital expenditure, the Bharat Audyogik Vikas Yojna (BHAVYA) and strong domestic demand conditions.

Indias external sector remains supported by resilient services exports, strong foreign exchange reserves, and diversified trade linkages, even as rising crude oil prices and West Asia disruptions increase near-term risks. During AprilFebruary FY26, total exports of goods and services grew by 5.8% YoY to 790.9 billion USD. Merchandise exports grew modestly by 1.8% while non-petroleum, non-gems and jewellery exports increased by 5.7%, led by strong growth in electronic goods exports. Services exports remained the key strength of the external sector, rising by 10.2% to 387.9 billion USD and generating a net services surplus of 201 billion USD, covering 64.7% of the merchandise trade deficit. Total imports rose by 7.4% to 900.5 billion USD, resulting in a total trade deficit of 109.7 billion USD. Indias foreign exchange reserves remained comfortable at 709.8 billion USD as of 13 March 2026, providing over 11 months of import cover and covering around 95% of external debt outstanding, strengthening resilience against global volatility.

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Borosil Renewables climbs after govt levies CVD on Malaysian solar glass imports

by Hansraj Agrawal | Jun 3, 2026 | Share Market

Last Updated : Jun 03 2026 | 3:50 PM IST

Borosil Renewables rallied 8.84% to Rs 545.80 after the the Government imposed a countervailing duty (CVD) on Textured Toughened (Tempered) Glass made or exported from Malaysia for a period of five years.

The notified product includes textured toughened glass with a minimum of 90.5% transmission, thickness not exceeding 4.2 mm, and where at least one dimension exceeds 1500 mm (whether coated or uncoated). The product is commonly referred as solar glass, solar PV glass, or high-transmission photovoltaic glass.

Under the notification, the duty will be levied as a percentage of the CIF (Cost, Insurance and Freight) value of the imported goods. Imports from Xinyi Solar (Malaysia) Sdn. Bhd. and SBH Kibing Solar New Materials (M) Sdn. Bhd. will attract a duty of 9.71%, while imports from all other producers will be subject to a duty of 10.14%.

This measure will not only protect domestic manufacturers but also accelerate investments in expansion of local production, driving exponential growth across Indias solar glass industry.

Borosil Renewables is engaged in the business of manufacturing of extra clear patterned glass and low iron solar glass for application in photovoltaic panels, flat plate collectors and green houses.

The company reported consolidated net profit of Rs 169.13 crore in Q4 FY26 compared with net loss of Rs 200.99 crore in Q4 FY25.

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First Published: Jun 03 2026 | 3:50 PM IST

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