Lokesh Machines, Galaxy Bearings Share Price Hit Upper Circuit on July 1, 2026, After US Removes Sanctions

Lokesh Machines share price and Galaxy Bearings share price were in focus on July 1, 2026, after the United States Treasury Department removed 4 Indian companies from its Specially Designated Nationals (SDN) List. 

The four companies removed from the sanctions list are RRG Engineering Technologies Private Limited, Lokesh Machines Limited, Galaxy Bearings Limited, and Shaurya Aeronautics Private Limited. 

Why Were These Companies Sanctioned? 

The four companies were among 21 Indian entities, including 19 companies and 2 individuals, sanctioned by the United States in 2024 under Executive Order 14024. 

The sanctions were imposed as part of Washington's broader measures targeting entities alleged to have provided financial, material or technological support to Russia following its 2022 invasion of Ukraine. 

Why Were Only 4 Indian Companies Removed from the US Sanctions List? 

The US Treasury's Office of Foreign Assets Control (OFAC) announced the removal of the 4 Indian companies from its Specially Designated Nationals (SDN) List as part of its latest sanctions update. 

The Treasury Department did not specify the reason for the delisting. Their removal lifts restrictions such as asset freezes under US jurisdiction and limitations on transactions involving US persons and institutions. 

Read More: India Auto Sales June 2026: Maruti Suzuki Sells Over 2 Lakh Units, Tata Motors PV Sales Soar 69% 

India Had Raised the Issue With the US 

Following the sanctions imposed in 2024, the Indian government stated that it had taken up the matter with the United States. 

The Centre informed Parliament that the sanctions were imposed under Executive Order 14024, which targets individuals and entities alleged to have directly or indirectly assisted the Russian government. 

The government also highlighted that India has a robust legal and regulatory framework governing exports of controlled and dual-use goods and technologies, consistent with its international non-proliferation commitments. 

It further noted that India regularly engages with companies through awareness programmes to ensure compliance with export control regulations. 

Lokesh Machines Share Price Performance 

As of July 1, 2026, Lokesh Machines share price closed at ₹285.70 per share on the NSE, up ₹13.60, or 5.00%, from its previous close of ₹272.10. The stock hit the upper circuit during the trading session.  

Lokesh Machines manufactures machine tools and precision-engineered components, supplying global manufacturers such as John Deere, Cummins, Volvo, Honda and Suzuki. 

Galaxy Bearings Share Price Performance  

As of July 1, 2026, Galaxy Bearings share price closed at ₹719.20 each on the BSE, up ₹119.85, or 20.00%, from its previous close, after hitting the upper circuit.  

Galaxy Bearings is a manufacturer of bearings and related engineering products and was among the 4 Indian companies removed from the US sanctions list. 

Conclusion 

The removal of Lokesh Machines Limited, Galaxy Bearings Limited, RRG Engineering Technologies Private Limited, and Shaurya Aeronautics Private Limited from the US sanctions list marks regulatory relief for the companies after nearly 2 years.  

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