Top Stories: IEA’s ‘red zone’ warning, Alphabet AI fundraise, OYO IPO nod, CBSE chair transferred and more

After four straight sessions of losses, the Sensex and Nifty bounced back sharply from intraday lows as investors weighed easing market nerves against rising geopolitical uncertainty. West Asia remained firmly in focus, with former diplomat KP Fabian saying Donald Trump has little option but diplomacy with Iran, while the International Energy Agency warned the global economy could enter a “red zone” if disruptions in the Strait of Hormuz continue beyond June.

The AI race intensified as Anthropic confidentially filed for a US IPO and Alphabet unveiled an $80 billion fundraise to power its artificial intelligence ambitions. Back home, sources told CNBC-TV18 that OYO parent PRISM has secured SEBI approval for its IPO, while Tata Digital’s growth plans came under scrutiny at a recent board meeting.

Elsewhere, the Aditya Birla Group emerged as the frontrunner to acquire Shell’s Sprng Energy, Vedanta came under the scanner following ED searches, and experts said an India-US trade deal may be nearing the finish line despite lingering tariff concerns. We also track the Centre’s decision to transfer the CBSE chairman and secretary while ordering a probe into on-screen marking procurement. Here are the 10 stories shaping markets, business and policy today.

West Asia War | Trump has no option but diplomacy with Iran, says former diplomat KP Fabian

US President Donald Trump has “no option but to seek a diplomatic resolution” with Iran as the conflict in West Asia deepens, former diplomat KP Fabian told CNBC-TV18, pointing to mounting political and military pressures on Washington.

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IEA warns global economy could enter 'red zone' if Hormuz disruptions continue beyond June

The International Energy Agency (IEA) believes the world is running out of the buffers that have so far prevented a sharper oil shock from the Iran conflict. “if we are not able to see a fully and unconditional open of state of Hormuz by end of June, July, and August, the travel season around the world in many countries are starting the flights and the cars and the buses, we may be entering the red zone for the global economy, especially those in Asia.,” IEA Executive Director Fatih Birol said.

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Sensex, Nifty snap 4-day losing streak; benchmark indices recover over 1% from intraday lows

The equity benchmark indices BSE Sensex and NSE Nifty recovered sharply from intraday lows to end higher on Tuesday (June 2), snapping a four-day losing streak amid broad-based buying across sectors.

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Also read: Rupee may weaken towards 98 as oil and US yields pressure EMs: David Hauner of BofA Securities

AI giant Anthropic files for stock market debut in US

Artificial intelligence startup Anthropic has

confidentially filed for an initial public offering (IPO) in the United States, marking what could become one of the most closely watched stock market listings in the AI sector.

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Also watch: AI Watch | Anthropic files for IPO, Alphabet raises fresh capital as global AI race intensifies

Alphabet announces $80 billion equity fund raise for AI spending

Sundar Pichai-led Alphabet Inc. has announced an $80 billion fund raising through equity offerings on Monday, June 1. The deal includes an investment of $10 billion by Berkshire Hathaway.

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OYO parent PRISM secures SEBI nod for IPO, sources say

OYO parent PRISM has received approval from the Securities and Exchange Board of India (SEBI) to proceed with its proposed initial public offering (IPO), sources told CNBC-TV18, moving the hospitality and travel technology firm a step closer to a public listing.

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Noel Tata raises growth concerns about Tata Digital's growth in board meet

The Tata Sons management sought approval for an equity infusion of approximately ₹7,000 crore into the group's digital consumer businesses at the May 26 board meeting. The digital consumer business includes platforms such as BigBasket, Tata Cliq and other consumer-facing digital ventures housed under Tata Digital, according to people familiar with the matter.

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Aditya Birla Group seen as front-runner in $1.7-billion-plus deal for Shell’s Sprng Energy: report

Kumar Mangalam Birla-led Aditya Birla Group is likely to have emerged as the front-runner to acquire Shell Plc’s Indian renewable energy platform Sprng Energy after the submission of binding bids, multiple industry sources in the know told Moneycontrol. Aditya Birla Renewables is the clean energy platform of the Birla group, housed under listed parent Grasim Industries. It is targeting a capacity of 10 GW plus in the coming years.

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Anil Agarwal-led Vedanta shares fall after ED searches at company premises

The Enforcement Directorate has conducted search operations across Vedanta Ltd.'s offices in Mumbai and Delhi, sources with knowledge of the matter told CNBC-TV18 on Tuesday, June 2. These search operations are being carried out with regards to the royalty payment made by Vedanta Ltd. to its parent company Vedanta Resources.

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India-US trade deal nears finish line, but Section 301 and tariff risks still loom, say experts

India and the United States may be close to finalising the first tranche of their proposed bilateral trade agreement (BTA), but concerns over Section 301 tariffs and Washington’s broad trade powers continue to cast a shadow over the negotiations, according to former Commerce Secretary Ajay Dua and former diplomat KP Fabian.

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Centre transfers CBSE Chairman, Secretary; Orders probe into OSM procurement

The Centre on Tuesday, June 2, transferred CBSE Chairman Rahul Singh and Secretary Himanshu Singh and ordered a probe into the procurement of On-Screen Marking (OSM) services by the Central Board of Secondary Education (CBSE), as concerns over Class 12 evaluation practices continue to escalate. The government has constituted a one-member inquiry committee headed by S Radha Chauhan, Chairperson of the Capacity Building Commission, to examine the procurement process for OSM services.

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