Market Preview, June 4, 2026: BHEL's Nigeria Win, SoftBank’s Lenskart Exit, NBCC Orders, GMR Block Deal and Hero MotoCorp’s Flex-Fuel First to Keep Indian Investors Busy on Thursday

Mumbai, June 4: Indian investors on Thursday will be tracking state-run BHEL which has signed a contract with a Nigerian firm. Lenskart’s one of the early investor, SoftBank has reduced its holding in the eyewear company while NBCC has added to its order pipeline with three fresh contracts. Here’s what you should track.

Bharat Heavy Electricals (BHEL)

State-run Bharat Heavy Electricals Ltd (BHEL) announced on Wednesday that it has signed a contract with Dangote Petroleum Refinery & Petrochemicals Free Zone Enterprise for a project within the Dangote Industries Free Zone in Nigeria one of the most significant international order wins for the company in recent years. The contract, signed on June 2, 2026 through an international tender process, covers the design, manufacturing, supply, and supervision of erection and commissioning of eight gas turbine generator packages for Dangote’s petroleum refinery and polypropylene plant in Lagos’ Lekki Free Zone. The order is valued between ₹2,000 crore and ₹2,500 crore, adding materially to BHEL’s order book and providing revenue visibility over the next 26 months, which is the scheduled completion timeline. The scope excludes civil works but includes supply up to Mumbai Port and performance guarantee tests, and BHEL confirmed there are no related-party transactions involved. The win is strategically significant as it deepens BHEL’s footprint in the African energy sector at a time when the continent is aggressively expanding refining capacity the Dangote refinery itself is targeting an expansion from 650,000 barrels per day to 1.4 million bpd to become the world’s largest refinery.

Lenskart Solutions

SoftBank has reduced its holding in eyewear retailer Lenskart Solutions through a block deal valued at approximately ₹2,873 crore, marking one of the largest secondary market transactions in India’s consumer technology space in recent months. Its affiliate SVF II Lightbulb (Cayman) offloaded 5.65 crore shares at ₹508.55 apiece. The buyers included Goldman Sachs and other institutional investors, reflecting continued appetite among global funds for exposure to India’s fast-growing organised eyewear market despite the SoftBank exit. The transaction reduces SoftBank’s stake in Lenskart, which has grown into one of India’s most prominent consumer-tech brands with over 2,500 stores across India and a significant international presence across Southeast Asia and the Middle East. SoftBank had been among Lenskart’s earliest and largest backers, having led multiple funding rounds through its Vision Fund; the block deal is consistent with the Japanese investor’s broader portfolio monetisation strategy as it recycles capital across its global tech bets.

NBCC

State-run construction and project management company NBCC (India) Ltd has secured fresh work orders worth approximately ₹83.24 crore (excluding GST) from three government and institutional clients, further building out its order pipeline in the domestic infrastructure space. The largest of the three contracts, valued at ₹39.99 crore, has been awarded by Canara Bank for Project Management Consultancy (PMC) services related to the construction of a residential building at Shimpoli Road, Borivali West, Mumbai. The second contract, worth ₹5.51 crore, comes from the Resident Commissioner of Andhra Pradesh Bhavan for the upgradation of Bungalow No. 1 at Janpath, New Delhi, while a third order from the Fisheries & Animal Resources Development (F&ARD) Department of Odisha accounts for the remaining value. NBCC confirmed that all three contracts are domestic, awarded in the normal course of business, and involve no related-party transactions. The latest inflows follow a strong Q4 FY26 for the company, in which its profit surged 48% year-on-year to ₹70,329 crore, and come on the back of multiple significant order wins in recent months including a ₹1,374 crore Bharat Business Park commercial tower e-auction.

GMR Airports

US-based investment firm GQG Partners, through its affiliate GQG Partners Emerging Markets Equity Fund, has divested 19.5 crore equity shares in GMR Airports representing a 1.84% stake through a block deal valued at ₹1,906.12 crore at ₹97.75 per share. The buyer was Fidelity International, through its affiliate Fidelity Investment Trust Fidelity International Small Cap Fund, which acquired the same number of shares, effectively marking a transfer of a significant institutional block from one global fund manager to another rather than a distribution into the broader market. GMR Airports shares closed at ₹98.78 on the NSE on Wednesday, rising 0.66% despite the large deal overhang, a sign that the market interpreted the Fidelity buy-in as a vote of confidence in the airport operator’s growth trajectory. The transaction is notable given that GQG Partners had been a relatively recent entrant into GMR Airports having first built a significant position in December 2023 and the exit comes as GMR Airports swung to a profit of ₹400.49 crore in the March 2026 quarter. GQG’s remaining exposure to GMR through its Goldman Sachs Trust II affiliate, which held a 3.48% stake as of March 2026, suggests the firm has not entirely exited its position in the airport operator.

Hero MotoCorp

Hero MotoCorp, the world’s largest two-wheeler manufacturer, has unveiled India’s first mass-market flex-fuel motorcycles the Hero Splendor Plus Flex-Fuel and Hero HF Deluxe Flex-Fuel at a launch event on Wednesday attended by Union Minister for Road Transport and Highways Nitin Gadkari. The two models, priced at ₹82,710 and ₹72,792 ex-showroom Delhi respectively, are compatible with ethanol blends ranging from E20 to E85, making them the first production-ready motorcycles in India capable of running on high-ethanol fuel. The company plans to begin sales in Delhi and select regions of Maharashtra from July 2026, followed by a phased nationwide expansion. The strategic choice of Splendor and HF Deluxe two of Hero’s highest-volume nameplates that together account for roughly one in every three motorcycles on Indian roads signals that the company is attempting to take flex-fuel technology beyond pilot projects and into the hands of everyday commuters at accessible price points. The launch aligns directly with the government’s push to increase ethanol blending in transport fuels as part of India’s broader energy transition and import-reduction agenda.

Sources:

• https://www.bseindia.com/corporates/ann
• https://www.ptinews.com/business
• https://www.business-standard.com/companiesutm_source=google&utm_medium=cpc&utm_campaign=IA_BS_Performance_Max_April_23&utm_content=Companies&utm_source=google&utm_medium=cpc&utm_campaign=19970151779&utm_adgroup=&utm_term=&utm_content=&gad_source=1&gad_campaignid=19972310773&gbraid=0AAAAADHomMBFUAcT5faQin4wSPWJgAnH-&gclid=Cj0KCQjwof_QBhCgARIsADaMzOdhpyu9j9ZnpKSZPAIypOyWgEQFjuKXzYSHLBK8NCnqzoWeH6yJlgkaAgpQEALw_wcB
• https://www.businesstoday.in/auto/story/hero-motocorp-launches-flex-fuel-splendor-plus-hf-deluxe-534779-2026-06-03