Market Preview, June 8, 2026: Oil India’s Andaman Gas Discovery, Alembic’s Canada JV, Hindustan Zinc’s TERI Pact, ICICI Prudential Dividend Record Date and Sterlite Technologies to Keep Indian Investors Busy on Monday

Mumbai, June 8: Investors in India will be tracking Oil India’s gas discovery in Andaman, pharma major Alembic’s JV in Canda and ICICI Prudential dividend record date among other events. 

Here’s what you should track. 

 Oil India 

Oil India (NSE: OIL, ₹483.35) is set to be in sharp focus on Monday after the state-owned explorer announced a landmark natural gas discovery at its Sri Vijayapuram-3 exploratory well in the Andaman Sea — its second successful find in the region in less than nine months, following the Vijayapuram-2 discovery in September 2025. The well, drilled under the Andaman Shallow Offshore Block AN-OSHP-2018/1 as part of a three-well exploration campaign under the Open Acreage Licensing Policy, is located approximately 15 km off the east coast of the Andaman Islands at a water depth of 355 metres. Initial production testing at a depth of over 1,900 metres in the Eocene formation confirmed the presence of natural gas through continuous flaring, with Oil India now carrying out gas sampling to assess composition, calorific value and isotope genesis of the gas.  

Alembic Pharmaceuticals 

Alembic Pharmaceuticals (NSE: APLLTD, ₹738.40) has executed a shareholders’ agreement to acquire a 45% equity stake in a newly incorporated Canadian corporation, 17989377 Canada Inc., signing the deal on June 6, 2026, alongside Difgen Holdings LLC, which will hold an equal 45% stake, with the remaining 10% held by a minority investor. The Canadian venture — which will become an associate company of Alembic Pharmaceuticals post-investment — is intended to serve as a dedicated platform for the development, commercialisation, distribution and marketing of pharmaceutical products in the Canadian market, one of the more attractive generics destinations given its pricing dynamics and regulatory framework.  

Hindustan Zinc 

Hindustan Zinc (NSE: HINDZINC, ₹566.80) has signed a Memorandum of Understanding with The Energy and Resources Institute (TERI) to undertake a 250-hectare ecological restoration project at its Chanderiya Lead Zinc Smelter Complex in Chittorgarh, Rajasthan — an initiative that, if fully realised, would stand as the world’s largest green cover area developed within an active industrial facility. The project will transform degraded industrial land into a biodiversity-rich natural ecosystem using layered native vegetation including trees, shrubs and grasses, with TERI providing technical expertise in site planning, species selection and ecosystem design, drawing on its proprietary Mycorrhiza technology which it has already deployed at the same complex to restore 22.25 hectares of Jarofix Yard land in two earlier phases. The initiative is central to Hindustan Zinc’s Sustainability Goal 2030. 

ICICI Prudential AMC 

ICICI Prudential Asset Management Company (NSE: ICICIAMC, ₹3,345.80) has declared a final dividend of ₹12.40 per equity share of face value ₹1, for the financial year ended March 31, 2026, with the record date fixed for Friday, June 12, 2026, which means investors who hold ICICI Prudential AMC shares as of Thursday, June 11, will be eligible for the payout. The AMC, one of India’s largest by assets under management, has been a consistent dividend payer, and the ₹12.40 per share declaration reflects the company’s strong earnings performance through FY26, supported by robust equity market participation and sustained SIP inflows across its fund offerings. Investors will watch the stock closely in the run-up to the record date, with short-term trading activity likely to reflect dividend-capture strategies given the attractiveness of the yield at current price levels. 

Sterlite Technologies 

Sterlite Technologies (NSE: STLTECH, ₹619.25) will be on the radar after Motilal Oswal Mutual Fund acquired 36.48 lakh shares of the optical fibre and network solutions company, representing a 0.74% stake, in a block deal at ₹619.07 per share, taking the total transaction value to ₹225.86 crore. The acquisition by one of India’s prominent domestic mutual funds signals renewed institutional interest in Sterlite Technologies at a time when the company is navigating a challenging macro environment shaped by global demand headwinds in the telecom capex cycle. The entry of a sizeable institutional buyer at scale could provide a near-term floor for the stock and will be watched as an indicator of broader institutional conviction on Sterlite’s medium-term earnings recovery prospects. 

Sources: 

• https://www.nseindia.com/get-quote/equity/STLTECH/Sterlite-Technologies-Limited 
• https://www.nseindia.com/get-quote/equity/HINDZINC/Hindustan-Zinc-Limited 
• https://www.nseindia.com/get-quote/equity/ICICIAMC/ICICI-Prudential-Asset-Management-Company-Limited 
• https://www.nseindia.com/get-quote/equity/APLLTD/Alembic-Pharmaceuticals-Limited 
• https://www.nseindia.com/get-quote/equity/OIL/Oil-India-Limited