Markets

Bharat Forge Completes Acquisition of RS Aerostructures Ltd, Gains 90% Stake Bharat Forge Limited has completed the acquisition of a substantial stake in RS Aerostructures Limited (RSAL) through its wholly owned subsidiary, BF Industrial Solutions Limited (BFISL).The transaction involves acquiring 36,00,000 equity shares of Rs. 10/- each at par, representing 90% of the paid-up share capital of RSAL on a fully diluted basis.With this acquisition finalized by BFISL, RS Aerostructures Limited has now become the Stepdown Subsidiary Company of Bharat Forge Limited. The completion of the acquisition solidifies the control held by Bharat Forge Limited over the company in which it acquired the stake.BHARATFORG Stock Price Movement Shares...

Vedanta Ltd incorporates subsidiary VEDANTA PROPERTY PLATFORMS LIMITED to pursue real estate business Vedanta Limited has established a wholly owned subsidiary, VEDANTA PROPERTY PLATFORMS LIMITED, in Mumbai, Maharashtra, India. The incorporation of this new entity is intended to serve as a strategic platform for undertaking the company's real estate business and related ancillary activities.The subsidiary was incorporated on June 22, 2026, under the provisions of the Companies Act, 2013, and is based in Mumbai, Maharashtra.VEDANTA PROPERTY PLATFORMS LIMITED has been set up to pursue the Real Estate industry. The incorporation details and capital structure reflect the initial commitment from Vedanta Limited.Key information...

Happy Square Outsourcing Services Gains Contract Extension Worth Approximately Rs. 81 Lakhs from Bharat Dynamics Limited Happy Square Outsourcing Services Limited (White Force) has received a significant extension on an existing work order, securing additional revenue from M/s Bharat Dynamics Limited. The contract extension, finalized on June 24, 2026, concerns the provision of manpower supply services.The work order initially awarded by Bharat Dynamics Limited in July 2024 was subsequently extended in February 2026. The company has now received a further extension to this existing service order.The contract extension is for services expected to be provided up to three months, with an aggregate consideration amounting to...

Sony India Bets on Premiumization as High-End Demand Spurs Festive Season Revival Sony India is aggressively pivoting its strategy, banking on consumer demand for premium electronics to drive double-digit value growth in FY26. The company acknowledges a sluggish start marked by global economic uncertainty and rising input costs, but views the festive sales cycle as crucial for market sentiment revival.The manufacturer expects consumers who remain willing to spend on superior technology will underpin its growth trajectory. Instead of volume being the primary driver, Sony is concentrating on high-value products, believing that premiumization will ultimately outpace unit growth this fiscal year.Navigating Market Headwinds with a...

RBI Tightens Financial Controls: Banks Must Implement Major 'Net Open Position' Changes for Basel Compliance The Reserve Bank of India (RBI) has released the final Amendment Directions concerning ‘Net Open Position’ (NOP), mandating significant revisions in how regulated entities compute their forex risk exposure. These directives aim to ensure enhanced consistency across the financial sector and achieve greater alignment with global standards set by the Basel Committee on Banking Supervision (BCBS).The amendments follow a lengthy review process, incorporating feedback gathered from Regulated Entities (REs) and various stakeholders who were consulted after an initial draft was released on January 14, 2026. The final instructions are...

Tamil Nadu Newsprint & Papers Limited Appoints New Director Representing Finance Department Tamil Nadu Newsprint & Papers Limited, a Government of Tamil Nadu Enterprise, has appointed Thiru N Venkatesh, I.A.S., Secretary to Government (Expenditure), Finance Department, as a Director on its Board. This appointment is part of changes made to the nomination of the Finance Director for the company.The designation of Thiru N Venkatesh was formalized by the Government, following the transfer and posting notification, marking him as the representative from the Finance Department.Profile of Appointed Director Thiru N Venkatesh, I.A.S., assumed the role on June 10, 2026. He is 44 years old, born on November 12, 1981. His educational...

Reliance Home Finance Completes 11th Committee of Creditors Meeting During CIRP Reliance Home Finance Limited, which is undergoing the Corporate Insolvency Resolution Process (CIRP), held its 11th meeting of the Committee of Creditors (CoC) on Wednesday, June 24, 2026. The meeting took place via video conferencing.This installment of the CIRP process follows an earlier intimation made on September 20, 2025, regarding the initiation of the insolvency proceedings for Reliance Home Finance Limited.The Company's Committee of Creditors (CoC) meeting was originally scheduled to be held on Monday, June 15, 2026, at 3:00 P.M. IST through video conferencing. Due to rescheduling, the meeting ultimately convened on Wednesday, June 24, 2026, at...

Tech Titans Surge on Rebound as AI Valuation Jitters Wipe Out Trillions in Market Caps Technology stocks are showing signs of a steady rebound on Wednesday, setting the stage after concerns over extreme valuations surrounding artificial intelligence wiped nearly $1.3 trillion from the market capitalization of Nasdaq 100 companies over the first two days of the week. The recent turbulence has prompted analysts to view these downturns as calculated opportunities rather than catastrophic collapses.Market Resilience and Index Performance Nasdaq 100 contracts gained 0.5% by 6:33 a.m. in New York, recovering from a prior session where the index had slumped by 3.3%. Simultaneously, S&P 500 futures edged up about 0.2%, while the Cboe...

V R Infraspace Completes Acquisition of 51% Stake in Premdhara Agro India to Strengthen Rice Business Presence V R Infraspace Limited's subsidiary, Tradio Exim Private Limited (TEPL), has successfully completed the acquisition of a 51% equity stake in Premdhara Agro India Private Limited (PAIPL). This transaction makes PAIPL a subsidiary of TEPL and consequently a step-down subsidiary of V R Infraspace Limited.The completion of the acquisition, finalized on June 24, 2026, aligns with the long term growth strategy of the company by expanding and strengthening its presence in the rice segment. The objective behind the move is to provide strategic and operational synergies between TEPL and PAIPL, thereby improving supply chain and...

Sensex Surges on Buying Strength as Market Prepares for Monthly F&O Expiry The benchmark equity indices witnessed a significant rebound on Wednesday, recovering nearly 1 percent after a challenging previous session. This resurgence was primarily buoyed by easing crude oil prices and robust buying activity observed across the banking, financial, and IT sectors.Indices Recover: Sensex Climbs Amidsector Strength The Sensex demonstrated strong upward momentum, surging 790.54 points or 1.04 percent to conclude at 76,991.22. During intraday trading, the index briefly climbed even higher, adding 989.69 points or 1.29 percent to reach 77,190.37.Meanwhile, Nifty also advanced considerably, rising by 197.55 points, or 0.83 percent, settling...

AI Adoption Surges Among Indian Wealth Investors to 86%, Yet Human Advisers Retain Final Say in Market Decisions A new survey commissioned by HSBC Holdings Plc reveals a dramatic acceleration of artificial intelligence (AI) adoption among India's affluent and high-net-worth individuals. These investors are using AI extensively for investment research, analysis, and strategy support—a trend that sets an all-time record in the markets surveyed.The study, conducted by Ipsos across 10 global markets, found that a significant 86% of wealthy investors in India utilize AI for financial activities. This figure significantly exceeds the global average of 73%. The findings underscore AI's growing role not as a replacement, but as a powerful...

Acquirers complete Open Offer for Shantai Industries Ltd; Public share holding remains at 25.60% The open offer launched by a group of acquirers in Shantai Industries Limited concluded on June 9, 2026. The transaction aimed to acquire up to 19,20,000 fully paid-up Equity Shares from public shareholders for cash at a fixed price of ₹21 per share.The offer was conducted by Radhe Dhokla Private Limited, Pandav Dishant Kanubhai, Nikunj Vijaybhai Prajapati, Pandav Jinesh Kanaiyalal, and Pandav Pradipkumar Vijaybhai, collectively referred to as the Acquirers. Saffron Capital Advisors Private Limited managed the open offer for the acquiring entities.According to records available following the closing of the offer, zero shares were...

Gold Outperforms Silver in Massive Ratio Surge as Global Inflation Concerns Mount The gold-silver ratio (GSR) has seen a significant climb in recent weeks, indicating that investors are increasingly favoring the safe-haven status of gold over silver. This shift reflects persistent global inflation concerns and expectations of continued tightening by the U.S. Federal Reserve (Fed). The rise in the GSR points to distinct shifts in investor demand profiles for these precious metals.Precious Metal Market Dynamics and Ratio Spike The Augmont research notes that the international spot price of gold ranged between $4,000 and $4,060 per ounce during recent trading periods. Simultaneously, silver hovered around the $60–$61 per ounce mark. This...

Turtlemint Fintech IPO Allotment Set for Finalization as Investor Demand Reaches 1.20 Times Turtlemint Fintech Solutions is set to finalize the allotment of shares later this evening, June 24. The highly anticipated initial public offering (IPO) concluded a strong subscription phase after drawing an impressive investor demand of 1.20 times in the primary market. This successful reception underlines robust interest in the fintech sector as the company prepares for its listing.The IPO was open for public subscription from June 19 to June 23. Investors had the opportunity to participate in the Rs 883-crore offering. The fixed price band for the issue was set at Rs 144 to Rs 152 per share, providing investors with clarity on the company's...

RBI Mandates Banks Strengthen AI Oversight: New Rules Demand Board-Approved Risk Frameworks for Machine Learning Models The Reserve Bank of India (RBI) has proposed stringent guidelines requiring banks to significantly enhance the oversight and risk management associated with Artificial Intelligence (AI) and machine learning models. The move underscores the central bank's commitment to managing emerging technology risks within the regulated banking sector.Regulated entities must now establish a comprehensive, board-approved risk management framework covering all models utilized by the institution. This includes specific protocols for AI applications and complex machine learning systems deployed across operations.Mandatory Risk...

Revenue Hit ₹7.7 Lakh Crore But CFO Allegedly Unpaid Since 2020 as ED Investigates Rajesh Exports' Finances The Directorate of Enforcement (ED) has initiated a major investigation into Rajesh Exports Ltd (REL) and its associates following search and seizure operations at nine locations linked to the company. The probe focuses on allegations of significant irregularities, including suspected share manipulation, missing foreign transaction records, and highly unusual remuneration practices, according to an agency statement issued Wednesday.The searches follow prior actions by the Securities and Exchange Board of India (SEBI), which had already passed an interim order against the promoters and the company regarding large-scale...

Corporate Sales Surge Accelerates as Manufacturing Sector Drives Up Growth in FY25-26, RBI Finds The Reserve Bank of India (RBI) today released comprehensive data on the performance of the private corporate sector for the fiscal year 2025-26. The report provides deep insights into how NGNF companies have managed rapid sales acceleration despite increasing input costs and expenditure pressures.Drawn from the abridged financial results of 4,278 listed non-government non-financial (NGNF) companies, the RBI data sheds light on the health and structure of India's private business landscape. The detailed findings cover growth rates, operational ratios, and profitability trends across various sectors.Robust Sales Growth Across Private...

Reliance-owned Karkinos Healthcare Crosses One Lakh HPV DNA Tests in Fight Against Cervical Cancer Karkinos Healthcare, a 100% step-down subsidiary of Reliance Industries Limited, has achieved a significant milestone by completing HPV DNA screening for over one lakh women across India. This achievement highlights the expansion of access to high-quality cervical cancer screening and follow-up care throughout the country.The accomplishment addresses two critical aspects of cervical cancer prevention: limited accessibility to screening and the common issue of patients being lost during the follow-up process after receiving a positive test result. Karkinos Healthcare’s model tackles both challenges using World Health Organization (WHO)...

Praxis Home Retail Secures Loan from CMS IT Services Pvt Ltd for Working Capital Needs Praxis Home Retail Limited has entered into a loan agreement with CMS IT Services Private Limited to fund its working capital requirements and general corporate purposes. The agreement provides up to Rs. 14.50 Crores in an unsecured, inter-corporate loan that will be disbursed in tranches on or before March 31, 2027.The transaction, formalized on June 23, 2026, details the terms of the facility between the two companies. CMS IT Services Private Limited is listed as the lender, while Praxis Home Retail Limited functions as the borrower in this arrangement. The loan carries an agreed interest rate of 11% per annum.Currently, the company has taken...

GP Eco Solutions Updates Shareholding Details for Preferential Allotment The Executive Board Committee of GP Eco Solutions India Limited has noted a change regarding the Explanatory Statement related to its Extra-Ordinary General Meeting (EGM) concerning preferential share allotment. This decision was made by the company's Executive Board Committee during a meeting held on Wednesday, June 24, 2026.The update concerns Mr. Manoj Kumar, one of the proposed allottees in the ongoing preferential issue. The change clarifies the shareholder’s stake both before and after the completion of the allotment process.As per the noted outcome, Mr. Manoj Kumar currently holds a pre-preferential shareholding of 4,400 equity shares, which represents...