IGI Logo

• KIRLOSKAR ELECTRIC: The company completed the acquisition of Jaypee Fertilisers and announced that its arm has incorporated a new wholly-owned subsidiary, Astro Ship Management Angola.

• EICHER MOTORS: The automaker plans to acquire a 50% stake in Volvo Financial Services via a Rs 750 crore investment, effectively forming a 50:50 Joint Venture.

• RAILTEL CORP: The company confirmed the termination of an Rs 26.7 crore order, citing that it could not execute the work due to a steep price increase in OFC and HDPE pipes caused by the ongoing war crisis.

• MARUTI SUZUKI: The automaker announced it will hike the prices of its models by up to Rs 30,000 across its portfolio effective June, passing on a portion of sustained input cost increases to the market.

• TVS SUPPLY CHAIN: The company's subsidiary, FIT 3PL Warehousing, has allotted shares worth Rs 59.6 crore to the parent company.

• VARUN BEVERAGES: The bottler has inked a revised Exclusive Bottling Appointment (EBA) pact with PepsiCo India, extending the agreement by 10 years until April 2049. The revised pact removes restrictions, meaning Varun Beverages is no longer bound to act solely as an SPV for PepsiCo.

• RAILTEL CORPORATION: The company confirmed the termination of an Rs 26.7 crore order, citing that it could not execute the work due to a steep price increase in OFC and HDPE pipes caused by the ongoing war crisis.

• ROSSARI BIOTECH: The specialty chemicals manufacturer has completed the sale of its arm Unitop Chemicals' office property for Rs 10.5 crore.

Economic News

• India’s FY26 growth stays resilient, but rising oil prices and Iran war risks cloud the FY27 outlook: India’s economy is expected to post a strong 7.3% GDP growth in Q4FY26, taking full-year FY26 growth to around 7.6%, supported by resilient domestic demand, strong services and agricultural activity despite disruptions from the Iran war and elevated crude oil prices. However, economists expect growth to moderate to nearly 6.5-6.6% in FY27 as prolonged geopolitical tensions, high energy prices, supply-chain disruptions, inflationary pressures, and weaker exports could weigh on manufacturing, consumption, and overall economic momentum.

Global News

• Oil tumbles as hopes of a US-Iran deal ease Strait of Hormuz supply fears: Oil prices declined sharply after the US signalled progress toward a possible agreement with Iran that could eventually reopen the Strait of Hormuz, easing concerns over prolonged disruptions to global energy supplies. Brent crude fell over 5% to below $98 per barrel, while WTI slipped under $92, marking Brent’s fourth decline in five sessions. The fall came after Donald Trump said negotiations with Iran were advancing, though no final deal has been reached yet. Despite the optimism, US restrictions around the Strait of Hormuz remain in place until a formal agreement is completed. Improving vessel movement through the key trade route which handles nearly 20% of global oil and LNG trade has started reducing supply concerns, with tankers carrying crude and LNG successfully crossing the region. A full reopening of Hormuz would provide significant relief to major Asian importers such as China, Japan, and South Korea, while lower oil prices are also expected to ease global inflationary pressures and potentially support future interest rate cuts in the US.

SEBI Registration number is INH000000081.

Please refer disclaimer at https://geplcapital.com/term-disclaimer