Stocks to watch, June 2: Anant Raj, NHPC, Ola Electric, fertiliser stocks, Wipro, NMDC, Coal India

The issue price will be fixed by the company in consultation with the book-running lead managers appointed in relation to the issue, Ola Electric said.

The deal size is estimated at ₹936 crore–₹956 crore. The floor price has been fixed at ₹5,200 per share, implying a discount of around 2.2% to the stock's previous closing price of ₹5,314.50. The term sheet also includes a 90-day lock-up period, restricting the sellers from undertaking any further share sales during this period.

Following this transaction, Wipro's overall shareholding in Aggne Global will increase to 80%, the company said in a regulatory filing to the stock exchanges.

The cash transaction, which is being executed through Wipro's step-down subsidiary Wipro IT Services LLC, is expected to be completed by June 5, 2026.

The production was 4.43 MT in the year-ago period.

However, the company's sales during the last month dropped by 6.9% to 4.04 MT, from 4.34 MT in the year-ago period, according to provisional figures of NMDC.

In Chhattisgarh, the production increased to 3.99 MT from 3.06 MT. Sales in the state rose to 3.34 MT as compared to 3 MT recorded in the year-ago period.

In Karnataka, the production dropped to 1.32 MT from 1.37 MT recorded in May last year.

Sales in Karnataka also declined to 0.70 MT from 1.34 MT.

On a cumulative basis, in April and May, production rose to 9.96 MT from 8.43 MT, while sales declined to 7.72 MT against 7.94 MT.

NMDC is India's largest producer of iron ore.

The company's revenue rose 8.60% to ₹1,858.06 crore in 2025-26 from ₹1,710.98 crore in the previous year, a statement said.

The company's EBITDA for FY26 was ₹120.42 crore compared to ₹104.37 crore in FY25.

"We have emerged stronger through this challenging period and remain confident about our growth trajectory going forward. Healthy domestic demand, improved operational efficiencies, and stronger gross margins contributed to our performance during the year," Kamlesh Patel, Chairman and Managing Director, said.

In a statement on Monday, the company said it has signed a Memorandum of Understanding (MoU) with the Haryana government to invest ₹20,000 crore in the development of large-scale data centre infrastructure across the state.

Anant Raj currently operates 28 MW of IT load across its campuses in Manesar and Panchkula and is expanding its data centre footprint across Haryana. It aims to achieve a total capacity of 307 MW by 2031-32 across Manesar, Panchkula, and Rai, supported by a planned capital expenditure of about $2.1 billion.

The proposed investment is over and above the company's existing and ongoing data centre expansion plans.

The MoU was signed during the launch of the 'Make in Haryana' policy and other sectoral policies organised by the Department of Industries & Commerce, Government of Haryana.

"The opening of Taj Hessischer Hof Frankfurt marks Taj's debut into Continental Europe, in line with our international strategy to grow our presence in key gateway cities of the world," IHCL Managing Director and CEO Puneet Chhatwal said in a statement.

Simon Lutz, partner at Peakside Capital and owner of the hotel, said, "We are delighted with the opening of Taj Hessischer Hof. This will be a landmark, bringing together the hotel's rich legacy with Taj's world-renowned luxury hospitality to Frankfurt."

Based on approval granted by the Acquisitions, Divestments and Merger Committee of the board of directors, Axis Bank has additionally invested in equity shares of Axis Max Life Insurance Company for an amount of up to ₹380 crore, the lender said in a regulatory filing.

"Post this investment, the aggregate shareholding of Axis Bank and its subsidiaries – Axis Securities Ltd and Axis Capital Ltd – will thereby increase from 19.02% to 19.99%," it said.

None of the promoters or promoter group of the bank has any interest in Axis Max Life Insurance Company, the lender informed the stock exchanges.

BNP Paribas, through its investment banking and market division BNP Paribas Financial Markets, purchased 8,96,293 equity shares of Lloyds Metals and Energy, according to the block deal data available on the BSE.

The shares were picked at a price of ₹1,802.10 apiece, taking the deal value to ₹161.52 crore.

Meanwhile, US-based Morgan Stanley, through its affiliate Morgan Stanley Asia (Singapore) Pte, offloaded the same number of shares.

The coal sold through e-auction fetched an average premium of 36% over the notified price during the month, it said.

The premium, however, eased compared to the 45% achieved in the consolidated April-May period.

Among subsidiaries, Northern Coalfields Ltd (NCL) achieved 100% allocation through e-auction in May. Western Coalfields Ltd (WCL) recorded a 54% allocation rate, while South Eastern Coalfields Ltd (SECL) logged 76%.

During April-May, CIL offered 562.93 lakh tonnes of coal through the e-auction route and allocated 201.94 lakh tonnes, translating into an allocation rate of 36%, it said.

Earlier in the day, the mining major reported an 11.6% on-year fall in coal production in May, with output slipping to 56.1 million tonnes.