Stocks in News: Rajesh Exports, Lenskart, Suzlon Energy, Aurobindo Pharma, Tata Motors

Markets remained volatile and ended lower on Wednesday, extending the prevailing bearish trend amid adverse global cues and persistent macroeconomic concerns. Technically, analysts say the Nifty has finally closed the gap around the 23,150 mark on the daily chart and witnessed a quick rebound thereafter. Sharp and divergent moves in two key sectors—banking and IT—keep market participants uncertain about the next directional move, while other sectors continue to offer stock-specific trading opportunities on either side.

In today’s trade, shares of Rajesh Exports, Lenskart, Suzlon Energy, Aurobindo Pharma, Tata Motors and others will be in focus due to various news developments.

Lenscart
Softbank has invested around Rs. 2,873 crore block deal to buy its stake in eyewear retailer Lenskart Solutions. According to exchange data, SoftBank affiliate SVF II Lightbulb (Cayman) bought 5.65 crore shares of Lenskart at Rs. 508.55, bringing the total transaction value to around Rs. 2,873 crores were taken up.

Rajesh Exports
Capital markets regulator Sebi has passed an interim order against Rajesh Exports and its promoter Rajesh Mehta, alleging massive financial irregularities, non-cooperation with investigators and possible inflation of the company’s reported revenue. In a 109-page interim order issued on June 3, Sebi said its investigation and forensic review had found prima facie evidence to suggest that around 97-99% of the company’s revenue may have been inflated, describing the findings as “stunning and unexpected”.

Tata Motors
Tata Motors has revamped its Avinya strategy, the company’s premium electric vehicle brand and future luxury EV platform, leading to partnerships and ready architectures to accelerate the launch after years of delays, a development report first reported by Reuters.

Suzlon Energy
Wind turbine maker Suzlon on Wednesday announced the diversification, aiming to become a full-stack renewable energy solutions company. The Pune-headquartered company will venture into businesses including battery storage and also launch an integrated co-development platform that will convert renewable capacity into execution-ready sites, which it has named ‘RE DevCo’, a company statement said.

RIL
Model Economic Township, a subsidiary of Reliance Industries, has partnered with the Haryana government for its township project at Jhajjar for a total of Rs. Two MoUs have been signed for an investment of Rs 8,646 crore.

Aurobindo Pharma
Aurobindo Pharma in Telangana Rs. 1,200 crore facility TheraNym has formally entered the biologics contract manufacturing business that will manufacture biologics for global markets, signing US pharma major MSD, known as Merck & Co. in the US and Canada, as its anchor customer.