Stocks to watch, June 3: NHPC, IT stocks, Alkem Labs, IndiGo, Canara Bank, Mankind Pharma

The OFS received an encouraging response from investors and was oversubscribed 3.47 times on the first day.

"Offer for sale at NHPC Limited received an enthusiastic response from investors and was oversubscribed 3.47 times on the first day. Allocation will be on a price priority basis. The government has decided to exercise the entire green shoe option. Retail investors and employees get to bid on 3rd June 2026," Department of Investment and Public Asset Management (DIPAM) Secretary Arunish Chawla said in a post on X.

The S&P 500 ticked up to a record close after reaching a new all-time high on Tuesday as traders monitored the latest U.S.-Iran developments as well as moves in major tech names. The broad-based index advanced 0.13% to end at 7,609.78 for its first close above the 7,600 threshold, while the Dow Jones Industrial Average gained 228.91 points, or 0.45%, to 51,307.79.

The latter also rose to a new all-time intraday high earlier in the session. The Nasdaq Composite eked out a gain of 0.03% to end at 27,093.90.

As a result of this acquisition, Upakarma has become a WOS of MLS and a step-down WOS of the company.

Hampapura Power Transmission and Mekhali Power Transmission were transferred to the successful bidders, Resonia Ltd and Dilip Buildcon, on May 30, 2026, REC said in a statement.

A public sector undertaking (PSU) of the Ministry of Power, REC provides long-term loans and other financing solutions to both public and private sector companies for building infrastructure assets in the country.

Titan is also expanding the store count of Helios and Helios Luxe, its retail chain that sells watches priced at ₹25,000 and above, as the premium and accessible luxury segments are growing at a 30% CAGR, Titan Watch Division CEO Kuruvilla Markose told PTI.

"We have close to 10 stores of Helios Luxe, and we are adding more as we go along. In this current financial year, we hope to expand that number closer to 30, and for Helios, we have close to 300 stores, and they are doing extremely well. This format for us is growing rapidly," said Markose.

A total of 17,88,220 shares representing a 1.49% stake were offloaded in Mumbai-based Alkem Laboratories by Jayanti Sinha and the Samprada & Nanhamati Singh Family Trust, as per the block deal data available on the NSE.

The shares were disposed of at an average price of ₹5,200 apiece, taking the transaction value to ₹929.87 crore.

Following the stake sale, Jayanti Sinha, part of the promoter group of Alkem Laboratories, has exited the firm. Also, the holding of promoters dropped to 49.71 per cent from 51.20%.

Meanwhile, ICICI Prudential Mutual Fund (MF), HDFC MF, Edelweiss MF, Nippon India MF, DSP MF, BNP Paribas, Societe Generale, Morgan Stanley, and Goldman Sachs were the buyers who picked up the shares.

Shares of Alkem Laboratories fell 1.42% to close at ₹5,239 apiece on the NSE.

The country's largest airline, which has significantly expanded its international operations, would also be returning one Boeing 787-9 Dreamliner aircraft leased from Norse Atlantic Airways following the decision to stop Manchester flights.

Currently, three weekly and four weekly services are operated to Manchester (UK) from Delhi and Mumbai, respectively. The flights started in July 2025.

Once these flights are discontinued from August 31, there will be no direct air connectivity between Indian cities and Manchester.

In a statement, IndiGo said it would temporarily discontinue flights to and from Manchester from August 31 due to continuing international airspace constraints leading to significantly increased flight duration and a challenging cost environment.

“The stock exchanges are hereby informed that the Board of Directors of the bank, in its meeting held today on 02.06.2026, has approved the capital raising plan of the bank for the financial year 2026-27 amounting to ₹8,500 crore by way of debt instruments (Additional Tier I/Tier II bonds)," the regulator filing read.

Under the plan, Canara Bank will raise capital up to ₹4,500 crore through Basel III-compliant Additional Tier I Bonds and ₹4,000 crore via Tier II Bonds for FY27, subject to market conditions and necessary approvals.