Indian Stocks Dip: IT Tumbles, Lloyds & Hindalco Gain

Indian Equities Under Pressure

Indian equity benchmarks faced significant selling pressure in late afternoon trading, driven by mixed global cues and a sharp sell-off in key sectors like IT, TECK, and Oil & Gas. The IT sector’s decline was notably triggered by a 17% overnight tumble in Accenture Plc following its quarterly earnings and guidance.

Compounding market concerns, the India Meteorological Department (IMD) reported a nationwide rainfall deficit of 41% between June 4 and June 18, 2026, as the southwest monsoon stalled over southern Maharashtra.

Companies Making Moves

Despite the broader market downturn, several companies announced positive business developments:

• Lloyds Engineering Works shares soared by 2.26% to Rs. 86.69 on the BSE. This surge followed the announcement of its plan to acquire a stake in Steel Infra Solutions Company.
• Hindalco Industries saw a modest gain, inching up 0.27% to Rs. 1011.40. The company commenced operations at its new aluminium bicycle component manufacturing facility in Pune, expanding its value-added aluminium products portfolio.
• Tata Power Company received a Letter of Intent (LOI) from REC Power Development and Consultancy. The LOI is for the acquisition of Ryapte Power Transmission Limited.
• Desco Infratech also secured a Letter of Intent (LOI) from Sabarmati Gas, a Joint Venture of GSPC & BPCL. This LOI is for the execution of a tender, following Desco’s earlier declaration as the L1 Bidder.