Stocks to watch, June 24: YES Bank, Infosys, Wipro, Honasa Consumer, IRFC, Tata Power, steel stocks

The domestic stock market is expected to open mildly positive on Wednesday, June 24. The GIFT NIFTY futures suggest that the NIFTY50 index will open 20 points higher.

Over 26.13 crore shares, representing a 2% stake in IRFC, will be put on offer in the two-day share sale. At the floor price, the stake sale will fetch over ₹2,300 crore to the exchequer.

The floor price of ₹91 per share is a 7.79% discount to Tuesday's closing price on the BSE. In a post on X, Department of Investment and Public Asset Management (DIPAM) Secretary Arunish Chawla said the government offers to disinvest 1% equity in the IRFC along with an additional 1% as a green shoe option.

The OFS will open for retail investors on Thursday.

The latest transaction marks the third stake sale by the US-based venture capital firm in Delhivery this year, following share sales worth ₹530 crore and ₹186 crore in April.

According to the bulk deal data available on the BSE, Nexus Ventures III Ltd, an affiliate of Nexus Venture Partners, offloaded 43,23,860 shares, representing a 0.57% stake in Gurugram-based Delhivery.

The shares were disposed of at an average price of ₹481 apiece, taking the total transaction value to ₹207.98 crore.

At the end of the March quarter, Nexus Ventures III Ltd held a 4.48% stake in the logistics firm.

Besides, in a separate press release, Wipro announced the expansion of its partnership with Palo Alto Networks, the global AI cybersecurity leader, to offer AI-driven Managed Detection and Response (MDR) services.

The board of directors will consider a proposal for raising funds by way of issuance of eligible equity securities through permissible modes, including but not limited to a private placement, preferential issue, or any other method or combination of methods, Yes Bank said in a regulatory filing.

Besides, the board will also consider borrowings or raising of funds by way of issuance of eligible debt securities and/or any other eligible securities (convertible/non-convertible) through permissible modes, including but not limited to a private placement, preferential issue, or any other method, the lender informed the stock exchanges.

The bank may evaluate the potential fundraising, as necessary in the future, and in order to have the requisite enabling shareholders' resolution(s) in place in terms of applicable provisions of the Companies Act, 2013, it said.

The deal will mark Honasa Consumer's entry into the fast-growing health and wellness supplements market.

As part of the deal, Honasa Consumer "will acquire a majority 58% equity stake of Fluence Pharma via secondary purchase at ₹135 crore enterprise value, subject to closing adjustments and completion of conditions precedent," the statement said.

The company will acquire the remaining 42% stake of Fluence Pharma via secondary purchase in two tranches over the next 5-7 years from the completion of the acquisition.

Officials in the central agency said nine premises linked to the Bengaluru-headquartered company were searched under the provisions of the Foreign Exchange Management Act (FEMA). The premises are located in Bengaluru and Mumbai, they said.

A response from the company on the ED action is awaited.

Founder and Chairman of the company, Rajesh Mehta, recently denied any fund diversion or wrongdoing during an interview with PTI. He said that the company will fully cooperate with the fresh forensic audit ordered by the Sebi and not challenge the market regulator's interim order against it.

The company has entered into a business transfer agreement (BTA) with seven ACT Group companies "to acquire their Cable Television Business for an aggregate cash consideration of ₹36.23 crore, by way of slump sale on a going concern basis," according to a regulatory filing from GTPL Hathway, a firm owned by Reliance Industries Group.

The companies are - A.C.N Cable, ACT Digital Home Entertainment, Atria Broadband Services, Kable First India, Sri Venkateshwara Digital Home Entertainment, Mandapeta Digital Entertainment, and IB Communications Network, it added.

In March this year, the plant in Kutch, Gujarat, was mandated to run at 100 per cent capacity from April to June.

"The company has received a letter from the Ministry of Power regarding the extension of validity of the directions issued under Section 11 of the Electricity Act, 2003, for its Mundra Thermal Plant. The validity of the aforesaid directions, which were earlier applicable up to June 30, 2026, has been extended and shall now remain in force until September 30, 2026," a regulatory filing said.

The Mundra plant began operations on April 1, 2026, after a gap of almost nine months. The company had suspended operations at all units of the Mundra plant on July 2, 2025, and suffered losses due to the temporary closure of the plant.

Speaking at the company's 45th Annual General Meeting (AGM), Nilekani said every major technology transition evokes questions on relevance and ability to protect growth and margins. AI's larger and disruptive technology transition only means that such questions are louder and doubts more insistent, Nilekani said.

"Moreover, the existential question that is being asked of us is, if coding becomes automated, then why are we needed at all? More than three years after GenAI was launched, Infosys is more relevant than ever before and well-positioned for the decade ahead," Nilekani said.

In a statement on Monday, Power Finance Corporation (PFC) said it has become the first central public sector undertaking (CPSU) and the first in the NBFC space to successfully tap the international bond market following the announcement of the special swap facility by the Reserve Bank of India (RBI) in its latest monetary policy statement.

The $300-million senior unsecured USD-denominated bonds with a tenor of 5 years are "priced at 105 basis points over the benchmark five-year US Treasury for a fixed coupon of 5.32% per annum", PFC said.

The issue saw a strong investor demand, attracting active and wider participation from investors across European and Asian markets, the company stated.

The shares were sold at ₹292 apiece, according to the sources, who said the transaction forms part of the group's broader effort to accelerate deleveraging at the holding-company level following the planned demerger of Vedanta's businesses.

"With five listed entities and different capital structures, the group is now looking at accelerated deleveraging at the holding-company level. This deleveraging is coming ahead of schedule," one of the sources familiar with the matter said.

Following the sale, Twin Star continues to hold about 40% of Vedanta Ltd, while overall promoter ownership remains around 56%, the PTI report said, citing its source.

Vedanta declined to comment on the block transaction or confirm whether Twin Star was the seller.

NLCIL, which has a presence in mining and power generation, has been diversifying into large-scale renewable and green energy initiatives, including solar, wind, pumped hydro storage, Battery Energy Storage Systems, and others.

"The MoU was signed on 22 June 2026 at New Delhi...for the development of large-scale Renewable Energy (RE) projects including solar, wind, hybrid power with or without energy storage such as battery storage and pumped storage projects...and any other opportunity in the renewable energy sector in the State of Tamil Nadu... ," the company said in a filing to BSE.

The investigation followed a complaint in this regard by JSW JFE Electrical Steel Nashik Pvt Ltd to the Directorate General of Trade Remedies (DGTR).

The applicant has alleged that the cheap imports of 'Cold Rolled Grain Oriented Electrical Steel and Amorphous Metal' are significantly harming the domestic industry.

"On the basis of the duly substantiated written application submitted by the applicant and having reached satisfaction based on the prima facie evidence submitted by the applicant concerning dumping of the product...the authority hereby initiates an anti-dumping investigation," the DGTR's notification said.

In the probe, the directorate would determine the existence, degree, and effect of the alleged dumping of the chemical exported from China and Japan.

The company plans to launch six new models by FY31 while it aims to have 13 lakh units annual production capacity within two to three years, its Managing Director & CEO, Shailesh Chandra, said in the presentation.

The domestic passenger vehicle industry is expected to grow to 64 lakh units annually, and electric vehicles (EV) volumes are projected to touch 10.11 lakh units annually by FY31, reaching 15-20% EV penetration, Chandra said.

This strategic move enables Rashi Peripherals to deliver the full spectrum of enterprise technology value to customers, from distribution to deployment of complex IT architectures.

Solarium Green Energy received a Letter of Award (LoA) dated June 22, 2026, to execute end-to-end engineering, procurement, and construction (EPC) works as a subcontractor.

The contract also includes operation and maintenance (O&M) services for a period of three years (36 months). The project has been awarded under a Maharashtra State Power Generation Company Limited (MAHAGENCO) initiative.