Markets

Cyber Media India Issues Forfeiture Notice for Unpaid Partly Paid-Up Equity Shares Cyber Media India Ltd has issued a Notice of Forfeiture concerning its partly paid-up equity shares, targeting shareholders whose First and Final Call Money remains unpaid. The decision was made following a Board meeting regarding the company's Rights Issue.The forfeiture notice, issued on June 23, 2026, pertains to all holders of 1,71,329 partly paid-up equity shares that have not settled their outstanding call money. The notice was circulated in both electronic and physical modes to ensure comprehensive notification.Background on Share Forfeiture The action stems from the non-payment of the required call money related to a Rights Issue. Shareholders...

Mangalam Organics Announces Leadership Transitions and Key Appointments Mangalam Organics Ltd has announced significant leadership changes following its Board meeting held on June 23, 2026, including the retirement of a long-serving executive and the subsequent appointments of new Chief Financial Officer (CFO) and specialized auditors.The company confirmed that Mr. Shrirang V. Rajule will retire from his positions as Chief Financial Officer and Key Managerial Personnel. His cessation will be effective from the close of business hours on June 30, 2026, after attaining the age of retirement prescribed by the company. The management extended sincere appreciation for his valuable contribution and dedicated service to the organization...

Eurogrip Tyres Opens Five Exclusive Retail Stores in Hyderabad, Expanding Market Footprint Eurogrip Tyres, a leading 2 and 3-wheeler tyre brand under TVS Srichakra Ltd., has announced the launch of five new exclusive retail stores in Hyderabad, Telangana. This expansion signifies the brand’s continued focus on strengthening its retail presence and enhancing customer service across India.The new outlets are designed to offer customers a complete experience, providing access to Eurogrip's entire range of tyres and tubes suitable for various two-wheeler segments, including scooters, commuter motorcycles, performance bikes, adventure touring bikes, and superbikes.Speaking on the occasion, T.K. Ravi, Chief Operating Officer of TVS...

Industry Surge vs Agriculture Cuts: West Bengal BJP Budget Reshapes Spending Priorities in Massive Shift West Bengal’s first complete budget under the Bharatiya Janata Party (BJP) government signals a significant recalibration of state investment. While overall spending has increased substantially, the budget makes marginal trims to capital expenditure compared to the previous interim proposal. The core takeaway is a sharp pivot towards industrial and transportation sectors, moving away from allocations for rural and agricultural activities.Budget Overview: Trimming Capex Amid Increased Expenditure Total expenditure in the June budget has been raised significantly, reaching Rs 4.29 lakh crore, up from the Rs 3.96 lakh crore proposed...

ED Launches Sweeping Searches at Rajesh Exports Following SEBI Flagging Alleged Financial Misstatements The Enforcement Directorate (ED) conducted extensive searches across multiple premises associated with Rajesh Exports Limited in Bengaluru on Tuesday, marking a severe escalation in regulatory scrutiny against India's major gold jewellery exporter. The raids and searches are linked to an interim order passed by the Securities and Exchange Board of India (SEBI), which flagged serious irregularities concerning the company's financial reporting and fund movement patterns.ED Searches Target Multiple Locations Linked to Rajesh Exports The searches commenced early in the morning, targeting several locations linked not only to Rajesh...

Alliance Integrated Metaliks Asserts No Information Was Withheld Regarding Stock Price Movement Alliance Integrated Metaliks Ltd has addressed recent inquiries regarding its share price movement, asserting that the company has been transparent in its reporting and maintained that all stock activity is driven by market conditions.The company stated that it continuously makes prompt disclosures of any events or information that could impact the operation or performance of Alliance Integrated Metaliks Ltd. The management confirmed that they have not withheld any information or events that would affect the price behavior of the security.Regarding the observed changes in the share value, the company maintained that the movement is purely...

CII President Mukundan Urges India to Land Foreign Capital for R&D Push India needs a significant infusion of foreign capital if it aims to elevate its domestic research and development (R&D) spending, according to the Confederation of Indian Industry (CII) President, R. Mukundan. He stressed that the country must pivot its focus from merely signing Free Trade Agreements (FTAs) toward maximizing their utilization.Mukundan, who is also a managing director at Tata Chemicals Ltd., argued that long-term industrial competitiveness is intrinsically linked to innovation and technology absorption. Without dedicated investment in these areas, Indian industries will struggle to compete globally in the future.The Imperative of Technology and...

Garden Reach Shipbuilders Becomes L1 to Supply 15-Ton Electric Bollard Pull Tug Garden Reach Shipbuilders & Engineers Ltd (GRSE) has secured the contract as the lowest bidder (L1) for the supply of a 15 TON Electric Bollard Pull Tug. The tender was issued by Shyama Prasad Mukherjee Port, Kolkata (SMPK).The successful outcome places GRSE in a significant role within the port infrastructure market. The bid was opened on June 23, 2026, and GRSE emerged as the L1 bidder for one unit of the Electric Bollard Pull Tug.The approximate value of the contract is ₹40.00 crores. This achievement marks the culmination of GRSE's participation in the specialized tender process conducted by SMPK.GRSE Stock Price Movement Garden Reach Shipbuilders...

RBI Unleashes New TReDS Directions: Deregulation and Capital Revisions Boost MSME Lending Landscape The Reserve Bank of India (RBI) has released the Final Directions on the Trade Receivables Discounting System (TReDS), 2026. These updated directions aim to streamline and modernize the regulatory environment for TReDS, a critical platform supporting working capital finance across the country. The issuance marks a significant step towards easing financial burdens, especially for Micro, Small, and Medium Enterprises (MSMEs).Finalizing Regulatory Framework for TReDS The RBI had previously placed the draft TReDS Directions, 2026, in the public domain on April 08, 2026. The feedback received from stakeholders was thoroughly reviewed by the...

eClerx Services Ltd Holds One to One Investor Meeting with Awriga Capital Advisors eClerx Services Ltd has scheduled a one to one investor meeting with Awriga Capital Advisors regarding industry and company specific developments. The session is slated for June 23, 2026, in Mumbai.The interaction is planned as a one to one meeting, focusing on developments within the industry and the company that are already available in the public domain.The details of the scheduled investor interaction are provided below:DateInteraction WithDiscussion FocusVenueTypeJune 23, 2026Awriga Capital AdvisorsIndustry/ Company specific developments already in public domainMumbaiOne to OneThe company noted that the schedule is subject to change...

Mizzen Ventures Limited Votes to Increase Authorized Capital and Raise Rs 10 Crore in Preferential Issue Mizzen Ventures Ltd, previously known as Jyothi Infraventures Limited, is undertaking a significant capital restructure and financing initiative. The company has proposed a resolution to increase its authorized share capital and sought shareholder approval for a substantial preferential issue aimed at funding business expansion across its operations and that of its wholly-owned subsidiary, Mizzen Digital Private Limited.The planned transactions are set to strengthen the company’s capital base in preparation for long-term growth requirements. The Board approved the proposed resolutions in June 2026, pending shareholder approval...

Eris Lifesciences Reports Strong Market Position in Super-Specialty Segment Amid Global Expansion and Therapeutic Pipeline Growth Eris Lifesciences Limited showcased significant growth and strategic advancements across its domestic and international portfolios in June 2026, emphasizing its leadership in anti-diabetes therapy and robust R&D capabilities. The company noted that its products are marketed in over 70 countries through a global distribution network.The company’s domestic branded formulations segment accounts for a strong 80% of revenue. Eris holds a Top-5 market position in Anti-Diabetes therapy with a 6% market share, and maintains a leading position in Insulins (RHI and Glargine) commanding a 16% market share.Strategic...

FCRA Penalties Intensify: Govt Revises Rules, Imposing Stricter Obligations on NGOs Receiving Foreign Donations Revised Penalty Framework for Misuse of Foreign Contributions The government has significantly revised the penalties under the Foreign Contribution (Regulation) Act (FCRA), 2010, concerning how non-governmental organizations (NGOs) receive and utilize foreign funds. These orders, notified by the ministry on Monday under Section 41(1) powers, aim to tighten accountability regarding the use of international donations.The new penalties are stringent across various contraventions of the Act's provisions. If a registered NGO spends more than 20 per cent of the received foreign contributions on administrative expenses (a breach of...

Technichem Organics Clarifies Share Price Movement Amid Market Scrutiny Technichem Organics Ltd, formerly known as Technichem Organics Private Limited, has addressed concerns regarding recent movements in its share price. The company issued a clarification asserting that all material information pertaining to the operations and performance of the business has been disclosed by the organization within stipulated timeframes.The company stated that there is no pending information or announcements from Technichem Organics Ltd that could materially affect the behavior of the stock.In its statement, the management clarified that share price movements are purely a reflection of market conditions. The company maintained that its management...

Baba Food Processing Commences Commercial Operations at New Sattu and Besan Manufacturing Plant in Ranchi Baba Food Processing (India) Limited has announced the successful commissioning and start of commercial operations at its new dedicated manufacturing facility, marking a significant step in the company's expansion strategy. The plant, located in Nagri, Ranchi, Jharkhand, is focused on the specialized production of Sattu and Besan.The operational unit, Plant Unit No. 2, has completed all necessary processes, including installation, testing, commissioning, and trial runs. Following these successful formalities, the facility began commercial operations beginning the evening of June 22, 2026.The establishment of the new plant...

Sahaj Solar Limited's Subsidiary Increases Capital in Abu Dhabi Joint Venture Sahaj Solar Limited has provided an update regarding the capital structure of its joint venture entity established in Abu Dhabi, UAE. The company's subsidiary will infuse additional funds into the joint venture to maintain its ownership stake.The action follows the prior announcement concerning the establishment of a Joint Venture (JV) in Abu Dhabi, UAE. This JV is named Sahaj Energy Solar Panels Manufacturing - L.L.C and was incorporated by Sahaj Renewable Energy Trading -FZCO, a wholly owned subsidiary of Sahaj Solar Limited.In light of developments within the venture, Sahaj Solar Limited has announced that the capital of the joint venture is being...

Piramal Pharma Addresses Stock Rally, States Price Movement Driven by Market Dynamics Piramal Pharma Ltd has responded to speculation surrounding its recent stock price surge, clarified that the rally is being driven by general market dynamics and no specific company news.The clarification comes after a news item published by NDTV Profit, which covered the significant rise in Piramal Pharma's share price.In responding to market attention regarding the stock movement, Piramal Pharma confirmed that the referenced surge was not linked to any material event or information requiring disclosure from the company.Management stated that all information concerning the company is already in the public domain. Regarding the observed price...

HP Adhesives Reports Consolidated and Standalone Results for FY 2025, Notes Details Fire Incident Impact HP Adhesives Ltd has released its audited consolidated and standalone financial results for the quarter ended March 31, 2026, providing insights into the group's operations and financial position. The results include details regarding a significant fire incident that occurred at one of the company's manufacturing units in January 2026.Financial Performance Highlights (Q4 FY2025) The consolidated financial statements show total income standing at 25,287.24 Lakhs for the year ended March 31, 2026. The company reported a net profit attributable to equity holders of 697.70 Lakhs for the quarter and 1,824.36 Lakhs for the full fiscal...

Sensex and Nifty Slip Sharply as Global Weakness Mounts, but Pharma Stocks Stage a Rally Indian equity indices recorded sharp declines on June 22 as uncertainty surrounding US-Iran peace talks weighed heavily on market sentiment globally. The benchmark indices closed in red, with selling pressure intensifying through the second half of the trading session.At the close, the Sensex finished at 76,200.68, shedding 893.39 points or 1.16 percent. Nifty was also significantly pulled down, settling at 23,824.10, marking a decline of 278.80 points or 1.16 percent.Market Performance and Sectoral Resilience The market saw concentrated selling across several key sectors, though pharma and healthcare stocks provided crucial support to the...

Nucleus Software Appoints Veteran Banking Leader as Chief Customer Success Officer Nucleus Software, a leading provider of lending and transaction banking solutions to the global financial services industry, has announced the appointment of Bhavit Godiwala as its Chief Customer Success Officer (CCSO). The strategic move aims to deepen customer relationships, accelerate value realization for clients, and drive greater agility within financial institutions globally.In his new role, Mr. Godiwala will lead Nucleus Software's global Customer Success organization. He will focus on helping financial institutions build business agility amid an increasingly digital and AI-driven environment while strengthening delivery excellence and...