CG Power Surges to New High Following Successful Plant Commissioning, Aurobindo Pharma Gains on USFDA Approval
Market Activity Driven by Corporate Developments and Regulatory Triggers
Several stocks remained in focus on June 5 as corporate developments, earnings announcements, and regulatory triggers continued to drive market activity.
In the midst of this activity, AvenuesAI shares added 2 percent following the Central Bank of the UAE's decision to grant in-principle approval to the company's step-down subsidiary, Avenues World FZ LLC, for a Retail Payment Services – Category III Licence in accordance with the Retail Payment Services and Card Schemes Regulation.
| Company | Share Price Movement |
|---|---|
| InterGlobe Aviation | Down marginally |
| Aurobindo Pharma | Up 1.5% |
| Lupin | Up 1% |
| CG Power | Hit 52-week high of Rs 952.15 |
Shares of InterGlobe Aviation, the parent company of IndiGo, down marginally after the company decided to make temporary adjustments to a limited segment of its international network, including the temporary suspension of operations to Langkawi, Krabi, Ho Chi Minh City, Hong Kong, and Shanghai from July 1, 2026, as well as to Siem Reap from July 3, 2026, until September 30, 2026. IndiGo will resume bookings for all the impacted services starting October 1, 2026.
Lupin's share price rose 1 percent post the United States Food and Drug Administration (U.S. FDA) approval of its ranibizumab, RanluspecTM (ranibizumab-hkdz), as an interchangeable biosimilar referencing to Lucentis (Genentech).
Aurobindo Pharma shares rose 1.5 percent on final approval from the US Food & Drug Administration (USFDA) to manufacture and market Tofacitinib Tablets, 5 mg and 10 mg.
Shares of CG Power hit a 52-week high of Rs 952.15 after the company commissioned its extra-high-voltage (EHV) switchgear manufacturing facility in Nashik, Maharashtra. This is in addition to the S3 Unit-I manufacturing facility at Ambad, Nashik, which manufactures EHV circuit breakers in the 33kV to 800kV range.
Read also: Google Releases Gemma 4 12B, Advanced Multimodal AI Capabilities for 16 GB Laptops
Market participants said that news flow remains a key driver in the current market environment, with investors closely monitoring corporate announcements and sector-specific developments. As the earnings season progresses, company-specific updates are expected to continue driving stock-specific volatility.
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