Vedanta ED Raids, Canara Bank Bond Plan, Adani Ports Cargo Data, Dhanuka Agritech Buyback and Concord Biotech's USFDA Win to Keep Indian Investors Busy on Wednesday

Mumbai, June 3: Investors tracking Indian stock market on BSE and Nifty will be tracking Canara Bank bond plan, Adani Ports cargo data, Dhanuka Agritech Buyback on Wednesday. The investors will also be following Concord Biotech’s USFDA approval among other market related developments.

Here’s what you should track:

Vedanta

The Enforcement Directorate (ED) conducted search operations on June 2 at multiple premises linked to the Anil Agarwal-led Vedanta Group across Mumbai, Delhi, and Rajasthan, as part of an ongoing investigation into alleged violations of the Foreign Exchange Management Act (FEMA). The probe, conducted under FEMA’s civil provisions, centres on royalty and brand-fee payments made by Vedanta Ltd to its UK-based parent company, Vedanta Resources — with investigators examining transactions reportedly valued at approximately ₹1,500 crore and whether they complied with Indian foreign exchange norms. 

Penalties under FEMA for proven violations can reach up to three times the amount involved. The searches also extended to offices of its subsidiary Hindustan Zinc. Vedanta confirmed it is fully cooperating with the authorities and is furnishing all requested information. The ED action comes amid Vedanta’s ongoing demerger process, through which the conglomerate is splitting into multiple independently listed entities focused on businesses including aluminium, oil and gas, power, and iron and steel.

Canara Bank

State-owned Canara Bank has received board approval to raise up to ₹8,500 crore through Basel III-compliant debt instruments in FY27, with ₹4,500 crore earmarked for Additional Tier I (AT1) bonds and the remaining ₹4,000 crore to come via Tier II bonds, subject to market conditions and regulatory clearances. The capital-raising plan, approved at a board meeting on June 2, is aimed at strengthening the lender’s capital adequacy position and providing headroom to sustain accelerating credit demand. The announcement follows Canara Bank’s Q4 FY26 results, where net profit fell 9.9% year-on-year to ₹4,505 crore — primarily on account of a contraction in non-interest income — even as net interest income rose 4% to ₹9,809 crore and asset quality improved, with gross NPAs easing to 1.84% from 2.08% in the previous quarter.

Adani Ports and SEZ

Adani Ports and Special Economic Zone (APSEZ) reported a 16% year-on-year increase in total cargo volumes for May 2026, handling 48.3 million metric tonnes, with growth led by a 33% surge in liquid cargo and a 17% rise in containers — reflecting continued strength in the company’s core port operations. On a year-to-date basis through May 2026, cumulative cargo stood at 91.4 MMT, up 15% year-on-year. However, the logistics rail segment continued to disappoint: rail volumes in May fell 19% year-on-year to 48,170 TEUs, pointing to persistent softness in inland cargo movement that stands in stark contrast to the company’s buoyant port-side performance.

Dhanuka Agritech

Dhanuka Agritech’s share buyback offer — valued at up to ₹70 crore — opens on Thursday, June 4, and will remain open through June 10, 2026. The offer, conducted via the tender route, allows the company to repurchase up to 5 lakh equity shares at ₹1,400 per share, a premium of approximately 29% over the stock’s price at the time the buyback was announced. The record date for eligibility was May 29, 2026, and the buyback is being funded entirely from free reserves without any recourse to borrowings. The ₹70 crore quantum represents 4.20% of the company’s aggregate paid-up equity capital and free reserves as of March 31, 2026.

Concord Biotech

Concord Biotech has received approval from the U.S. Food and Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) for Mycophenolate Mofetil for Oral Suspension USP, 200 mg/mL an antimetabolite immunosuppressant used to prevent organ rejection in adult and paediatric recipients aged three months and older following allogeneic kidney, heart, or liver transplants, in combination with other immunosuppressants. The approval positions Concord Biotech to tap an estimated $30 million U.S. market for the product and further builds out the company’s generics portfolio in the critical immunosuppressant segment.