Stock Market June 2, 2026, Preview: NHPC OFS, Ola Electric QIP, Wipro's Aggne Stake Buy, NMDC Production Data and NTPC's Ramagundam Solar Milestone to Keep Indian Investors Busy on Tuesday

Mumbai, June 2: BSE and Nifty investors on Tuesday will be tracking shares of NHPC as government opens offer for sale today while Ola stocks will be in focus as it launched QIP.

Here’s what you should track.

NHPC OFS Opens for Institutional Investors Today; Floor Price Set at ₹71, Government Can Raise Up to ₹4,200 Crore

Shares of state-owned hydropower major NHPC (NSE: NHPC, ₹77.05) will be in sharp focus on Tuesday as the government’s Offer for Sale opens for non-retail investors today, with institutional and high-net-worth buyers able to place bids at a floor price of ₹71 per share an 8% discount to Monday’s closing price of ₹77.19 on the BSE. The base offer covers 3% of NHPC’s equity, with an additional 3% green shoe option that the government can exercise if the issue is oversubscribed, meaning up to 6% of the company or approximately 60.27 crore shares could change hands, potentially raising up to ₹4,200 crore for the exchequer at the floor price. Retail investors and employees will be able to place their bids on June 3, with retail participants eligible for a 5% discount to the cut-off price, subject to a maximum bid value of ₹2 lakh per investor.

The NHPC OFS is the third government stake sale in a PSU in the current financial year, following recent OFS transactions in Coal India which raised ₹5,542 crore and LIC, as the Centre pushes ahead with its non-debt capital receipts programme. The government currently holds 70.95% in NHPC, and the stake sale will reduce that holding if fully subscribed. NHPC is India’s largest hydropower company and a Navratna PSU under the Ministry of Power, with over 7,000 MW of installed capacity across hydro and renewable energy projects in Jammu & Kashmir, Himachal Pradesh, Uttarakhand and Arunachal Pradesh. The company has been expanding its solar and pumped storage portfolio as part of India’s broader energy transition a strategic profile that has drawn consistent investor interest in its recent stake sales. NHPC shares closed down 2.31% on Monday, likely reflecting pre-OFS selling pressure ahead of the discounted floor price.

Ola Electric Launches QIP at ₹37.74 Floor Price to Strengthen Balance Sheet

Ola Electric Mobility (NSE: OLAELEC, ₹39.47) launched its Qualified Institutional Placement (QIP) on June 1, setting the floor price at ₹37.74 per share. The fundraise through the QIP route targets institutional investors and is aimed at strengthening the company’s balance sheet as it scales its electric two-wheeler manufacturing operations and expands its cell technology initiatives. The floor price will serve as the minimum price at which shares can be issued to eligible institutional buyers, with the final issue price to be determined through the book-building process. Investors will be watching the QIP closely for signals on institutional appetite for Ola Electric at current valuations, given the stock’s volatile trajectory since its listing.

Wipro to Acquire Additional 20% Stake in Aggne Global, Completing Majority Ownership by June 5

Wipro (NSE: WIPRO, ₹206.41) announced that its step-down subsidiary, Wipro IT Services, will acquire an additional 20% stake in Aggne Global Inc., with the transaction expected to close by June 5, 2026. The acquisition builds on Wipro and Wipro IT Services’ earlier move in February 2024, when the two entities collectively acquired a 60% stake in Aggne Global IT Services and Aggne Global Inc. respectively making the latest tranche an incremental consolidation of an existing strategic relationship. With the 20% top-up, Wipro IT Services will strengthen its ownership position in Aggne, which operates in the insurance technology and services space. The deal is part of Wipro’s broader strategy of deepening capabilities in domain-specific technology services, particularly in verticals where it has identified growth potential in its enterprise client base.

NMDC May Production Rises 19.9% YoY to 5.31 MT; Sales Slip 6.9% to 4.04 MT

State-owned iron ore miner NMDC (NSE: NMDC, ₹89.10) released its May 2026 operational data, reporting a 19.9% year-on-year increase in iron ore production to 5.31 million tonnes, up from 4.43 million tonnes in May 2025 a strong volume number that underscores the company’s sustained mining momentum. However, sales of iron ore for the month fell 6.9% year-on-year to 4.04 million tonnes against 4.34 million tonnes in the same period last year, suggesting that offtake by steel producers has moderated even as NMDC’s mine output continues to grow. The divergence between production and sales will be a key variable for investors to track, as a sustained build-up in unsold inventory could weigh on realisation trends. The May data comes on the back of NMDC’s strong Q4 FY26 results, in which the company reported a 36% year-on-year jump in quarterly net profit to ₹2,017.57 crore and an all-time high FY26 revenue of ₹31,554 crore.

NTPC Commissions 34.4 MW Solar Capacity at Ramagundam, Advancing Its Renewable Energy Build-Out

State-owned power major NTPC (NSE: NTPC, ₹378) has declared the commercial operation of a 34.4 MW tranche from its 176 MW Solar PV Project at Ramagundam in Telangana, with effect from 00:00 hours on May 29, 2026, according to a regulatory filing. The Ramagundam commissioning is part of NTPC’s broader renewable energy expansion strategy, through which the company is targeting a significant increase in its clean energy portfolio as India works toward its long-term decarbonisation and energy transition targets. The 176 MW Ramagundam Solar PV Project, of which this is the second part capacity to be commissioned, is among several large-scale solar installations NTPC is developing across the country to diversify its generation mix beyond thermal power. The commissioning adds to NTPC’s operational renewable capacity and will contribute to the company’s clean energy revenue base going forward.

Sources:

• NSE
• BSE
• DIPAM
• Company Filings
• PSU Watch | Tuesday, June 2, 2026