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Indian Stock Market Update and Geopolitical News

Friday, May 29, 2026
5 min read
Indian Stock Market Update and Geopolitical News

Stocks watching today, May 29th. Even with that little positive shift happening in West Asia between Iran and the US, the Indian equity market is probably going to open flat, or maybe even dip a bit. Gift Nifty is signaling that kind of muted start for the Friday session. It was up just 11.5 points, a tiny 0.05% gain, as of 7:37 AM IST.

Oil prices, though, they retreated sharply. They dipped down to $90 or below a barrel following the news that Iran and the US actually aGreed to extend that ceasefire by sixty days. That means they’re likely to reopen the Strait of Hormuz, letting shipping run unrestricted again. It’s a big breakthrough, I guess, after all the chaos. Remember that whole mess that followed the killing of Iran’s Supreme Leader? That’s what put the whole Middle East into turmoil.

And that tension directly impacted shipping. Iran suspended movement through the Strait of Hormuz. That’s a critical choke point, you know? Twenty percent of global crude oil and natural gas trade goes through there. Gulf nations, Qatar, Bahrain, Saudi Arabia, UAE, Iran, Oman—they all rely on that flow.

Meanwhile, the companies are moving on their own track.

Reliance Industries has some dates set. Their 49th Annual General Meeting is coming up on June 19th. They’ve also locked in June 5th as the record date for who gets to vote on that FY26 dividend.

Coal India is pushing things forward too. They’re going to exercise that one percent Greenshoe option in the Offer for Sale. That bumps the total offer size up to two percent, hitting 12.3 crore shares. Retail investors can start placing bids from May 29th.

Patanjali Foods got hit with some tax news. They received a demand notice for Rs 1,352.9 crore for FY23. That breaks down into CGST and SGST amounts, plus a penalty of Rs 135.29 crore, and interest at eighteen percent on both sides. Just another layer of complexity.

Paytm , following that Supreme Court ruling about online gaming, they clarified that the 28% GST on gaming doesn’t touch their First Games matter. But there’s still this GST show-cause notice hanging around, a whopping Rs 5,712 crore, still being argued.

Ashok Leyland , on the other hand, they reported some solid numbers. Record quarterly and annual revenue, profit, and vehicle volumes for FY26. That momentum seems real, driven by domestic demand and that electric mobility push.

GMR Airports posted a net profit of Rs 302.5 crore for the March quarter. That’s a shift from the year-ago period, where they were down, a loss of Rs 237.6 crore. A turnaround, maybe.

Zydus Lifesciences ’ Buyback Committee decided on a change. They approved a revision to their share buyback program. They’re increasing the buyback price but cutting down the number of shares they plan to repurchase. Subtle moves, always.

NTPC Green Energy finally declared commercial operations for that final 105 MW capacity at their Gujarat solar project. It’s operational now.

Oil India ’s side is also shifting gears. Their subsidiary, OIL Green Energy Ltd , teamed up with Hindustan Waste Treatment Pvt Ltd . They’re focusing on bioenergy and sustainable waste management projects across India.

Tata Motors fixed June 12th as the record date for shareholders to claim their final dividend of four rupees a share.

And there’s the stuff about manufacturing too. Godfrey Phillips India signed a contract manufacturing aGreement with Polisetty Somasundaram Tobacco Products (India) Pvt Ltd . For cigarettes and other tobacco products. Just moving the supply chain.

Cholamandalam Investment and Finance allotted non-convertible securities worth five thousand crore rupees.

It’s all moving, isn’t it? A lot happening, some big geopolitical shifts, some company adjustments. Just watching the noise.

Written by Gree News Team — Senior Editorial Board

Gree News Team covers international news and global affairs at Gree News. Our collective of senior editors is dedicated to providing independent, accurate, and responsible journalism for a global audience.

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