Markets

Century Extrusions Appoints Charan Singh as Additional Independent Director; Reconstitutes Nomination Committee Century Extrusions Ltd has announced significant updates following its recent Board Meeting, including the appointment of Shri Charan Singh as an Additional Non-Executive Independent Director. The company also confirmed the reconstitution of its Nomination and Remuneration Committee (NRC) and provided a notice for its upcoming 38th Annual General Meeting (AGM).Shri Charan Singh was appointed as an Additional Non-Executive Independent Director with effect from June 23, 2026. His appointment is for a tenure of five consecutive years and remains subject to the approval of the shareholders at the forthcoming General Meeting of...

Manappuram Finance Approves Employee Stock Option Scheme and Details Senior Management Changes Manappuram Finance Ltd., in a meeting held on June 23, 2026, approved the granting of stock options to its employees under the Manappuram Finance Limited - Employee Stock Option Scheme 2025 (ESOP 2025). The board also addressed changes concerning senior management personnel and considered matters related to enhancing borrowing limits.Details of Employee Stock Option Grant The Company granted a total of 4,28,568 options to eligible employees of Manappuram Finance Limited and its subsidiaries under the ESOP 2025. The scheme was approved based on recommendations from the Nomination, Compensation and Corporate Governance Committee.Key details...

ICICI Prudential Unleashes New BSE Insurance ETF Targeting Sector Resilience and Stable Wealth Creation ICICI Prudential Asset Management Company Limited has launched a new specialized financial product: the ICICI Prudential BSE Insurance ETF. This open-ended Exchange Traded Fund (ETF) is designed for investors focused on long-term wealth creation within the insurance sector. The fund aims to mirror the performance of the BSE Insurance Index, providing exposure to a critical segment of the Indian economy.Product Overview and Investment Objective The ICICI Prudential BSE Insurance ETF tracks the returns of the BSE Insurance TRI (Total Return Index). The scheme is categorized as an Other Schemes - ETF, targeting investors seeking...

India Infraspace Ltd Reports Financial Results for FYE March 31, 2026; Auditor Issues Qualified Opinion India Infraspace Ltd has released its audited financial results for the quarter and full financial year ended March 31, 2026. The company reported standalone financial results, noting that consolidated statements were not applicable as one of its subsidiaries, Saurya Casting Private Limited, was dissolved effective August 4, 2025.The results indicate specific outcomes across various financial metrics for the period ending March 31, 2026.Financial Performance Snapshot (As of March 31, 2026) A summary of the key financial data points from the Balance Sheet and Statement of Profit and Loss for India Infraspace Ltd is provided below...

Somany Ceramics Ltd's Credit Ratings Reaffirmed by CRISIL on Bank Facilities Somany Ceramics Limited has received a reaffirmation of its credit ratings from CRISIL Ratings Limited regarding its various bank facilities, affirming the company's financial standing. The ratings pertain to both long-term and short-term bank facilities.The reaffirmed credit ratings issued by CRISIL Ratings Limited position the company favorably concerning its debt instruments and banking relationships. These ratings were provided in a rating letter dated June 22, 2026.Facility TypeRating (Reaffirmed)Long Term Bank FacilitiesCRISIL AA-/StableShort Term Bank FacilitiesCRISIL A1+The reaffirmed ratings cover a total of Rs. 425 Crore in bank loan...

Railtel Secures Major Purchase Order from Ministry of Railways Worth Rs 3,34 Crore Crores Railtel Corporation of India Limited has secured a significant purchase order from the Ministry Of Railways for the up-gradation of various e-Office instances across Zonal Railways and Administrative Units (AUs).The contract involves upgrading the client’s e-Office system to version 7.x, mandating the use of DSCs and eSign within the e-Office System. The estimated size of this order, as per the Purchase Order received by Railtel Corporation of India Ltd., stands at Rs 3,34,51,69,491/- (Excluding Tax).The order was awarded domestically and is scheduled for execution until June 22, 2031. The purchase order was received by the company on June 23...

Mirae Asset Unveils Hybrid Index Fund: Targeting Growth by Merging High-Momentum Stocks with Stable Government Securities Mirae Asset Mutual Fund has launched a new hybrid index fund, the Mirae Asset Nifty200 Momentum 30 Plus 8-13yr G-Sec 75:25 Index Fund. This Equity oriented - Hybrid Index Fund is designed to capture returns commensurate with its underlying benchmark while providing a strategic mix of equity market momentum and fixed income stability. The fund serves investors looking for a sophisticated, passively managed portfolio that aims for long-term growth.The product is specifically set up to track the Nifty200 Momentum 30 Plus 8-13 yr G-Sec 75:25 Index. This index measures the performance of a balanced portfolio, comprising...

Mirae Asset Unveils Hybrid ETF: Tackling Market Volatility by Blending Nifty200 Momentum and G-Secs Mirae Asset Investment Managers has launched a new hybrid Exchange Traded Fund (ETF): the Mirae Asset Nifty200 Momentum 30 Plus 8-13 yr G-Sec 50:50 ETF. This fund is designed for investors seeking diversification by combining exposure to equity momentum with stability offered by government securities. The ETF aims to replicate/track the performance of the Nifty200 Momentum 30 Plus 8-13 yr G-Sec 50:50 Total Return Index.This new offering is categorized as a Hybrid Exchange Traded Fund (ETF) and is intended for investors seeking balanced growth potential alongside risk mitigation strategies. The fund's objectives are clearly defined...

Maximus International Ltd Executes Share Purchase Agreement for 40% Stake in Quebec Petroleum Resources Limited Maximus International Limited has executed a Share Purchase Agreement relating to the acquisition of a significant stake in M/s. Quebec Petroleum Resources Limited, a company involved in lubricants manufacturing and petroleum products distribution. The agreement was finalized on June 23, 2026.Quebec Petroleum Resources Limited is a Vadodara based firm that has been operating in the Indian market for over twenty years. Maximus International Limited secured the purchase of a 40% equity stake in the company through this transaction.The Share Purchase Agreement involves two parties: Maximus International Limited and Mr...

SEBI Approves ICICI Prudential Contra Fund: A Deep Dive into Contrarian Equity Investment Strategy ICICI Prudential Asset Management Company Limited has officially launched the ICICI Prudential Contra Fund, a newly approved open-ended equity scheme. This fund is strategically designed to generate long-term capital appreciation by focusing on a contrarian investment strategy. The launch details provide comprehensive insights into the fund's structure, risk profile, and operational guidelines for prospective investors.Scheme Objective and Investment Philosophy The ICICI Prudential Contra Fund aims to achieve long-term capital appreciation by investing in Equity and Equity related instruments based on a contrarian approach. This means...

RBI Fires Liquidity Lifeline: ₹1.41 Lakh Crore Injected Via VRR to Counter Tax Outflows The Reserve Bank of India (RBI) injected a significant amount of transient liquidity into the banking system on Tuesday through a seven-day variable rate repo (VRR) auction. The central bank infused ₹1,41,171 crore into the market, conducting the operation at a cut-off and weighted average rate of 5.26 per cent.This intervention comes as the financial ecosystem faced liquidity tightness due to increased outflows within the banking sector. As of June 22, the system recorded a deficit of ₹19,971.89 crore in liquidity, compared to a surplus of ₹30,685.11 crore reported on June 21.Managing Liquidity Deficit Amid Tax Payment Pressures Experts have...

UFLEX Limits Trading Window Ahead of Un-audited Financial Results Announcement The trading window for designated persons in UFLEX Limited shares has been closed, effective from July 1, 2026. This action comes as the company prepares to announce its Un-audited Financial Results (Standalone and Consolidated) for the Quarter Ended June 30, 2026.The closure of the trading window will remain in effect until the announcement of these financial results is made by the company to the Stock Exchange(s), at which point the ban period will expire after a 48-hour period following the declaration. This procedure ensures regulatory compliance leading up to the release of the quarterly performance data for UFLEX Limited.UFLEX Stock Price Movement...

GM Breweries Ltd to Convene Board Meeting to Review Q1 Financial Results GM Breweries Ltd has scheduled a Board Meeting to discuss the unaudited financial results for the quarter ending June 30, 2026. The meeting is set to be held via audio visual means on Thursday, July 09, 2026, starting at 11:30 A.M.The company has organized this event to review and formally record the financial performance of GM Breweries Ltd for the specified quarter. This meeting provides the Board of Directors with a platform to examine the operational outcomes against the period's expectations.GMBREW Stock Price Movement As of 12:28 PM, shares of GM Breweries Limited are slipping by 0.85% in live trading, currently holding at ₹910.5 after shedding ₹7.80. The...

Marine Electricals Secures Rs 75.19 Crores in New Order Book Win through Power Distribution System Supply Marine Electricals (India) Limited has secured significant new contracts, receiving orders amounting to a total of Rs 75.19 crores excluding taxes. These deals involve the supply of Power Distribution Systems to two distinct clients.The company received an order from STT Global Data Centres India Private Limited for the delivery of a Power Distribution System. The timeline provided for this specific order ranges from 12 to 18 months.A second substantial order was secured from Princeton Digital Group (India) Management Private Limited, also for the supply of a Power Distribution System. This contract is also scheduled for...

Gokak Textiles Clarifies Share Price Movement: No Pending Price Sensitive Corporate Actions Gokak Textiles Limited has issued a clarification regarding the movement of its share price, confirming that all required disclosures have been made. The company stated that there is no pending announcement or information that could be considered price sensitive.In addressing inquiries regarding stock price movement, Gokak Textiles confirmed that it has provided complete necessary information to exchanges concerning regulatory obligations.The company further asserted that there are currently no proposals or discussions within the knowledge of the company or any matter pending before the Board of Directors that require a disclosure which might...

Metal Index Plunges as Global Commodity Prices Fall; Vedanta Shares Reel Down Amid Heavy Block Deal Selling Nifty Metal index suffered a sharp decline of 2.7% on June 23, tracking the downturn in global metal prices. The market losses were amplified by concerns regarding potential US interest rate hikes this year, dampening sentiment across key sectors. Companies like Vedanta Ltd, NALCO, and Hindustan Zinc led the steep drops as traders reacted to shifting international commodity values.Vedanta Faces Heavy Selling Pressure Amid Block Deals Vedanta Ltd experienced significant volatility, falling over 7.5% to reach a one-month low of Rs 282 by lunchtime. This decline followed exchange data indicating that approximately 7.3 crore Vedanta...

Grasim Industries acquires additional stake in Aditya Birla Capital Limited through preferential share issue Grasim Industries Ltd has increased its stake in Aditya Birla Capital Limited (ABCL) following a preferential issue of equity shares. The transaction, completed on June 23, 2026, involved the acquisition of 8,08,94,331 Equity Shares for an aggregate consideration of Rs. 28,79,99,99,722.62.The shares were acquired at a price of Rs. 356.02 per equity share, which includes a premium of Rs. 346.02 over the face value of Rs 10 each.Post-Issue Shareholding Snapshot Prior to the allotment, Grasim Industries held 1,36,98,09,351 shares, representing 52.27% of ABCL’s equity (as of May 15, 2026). Following the issuance, the total share...

AI Selloff Hits Indian Tech Stocks: Netweb, Orient Technologies Slip As Global Markets Correct Course Indian Tech Names Decline Amid Global AI Uncertainty Shares of several Indian companies connected to the artificial intelligence and data centre ecosystem traded lower on Tuesday. This decline mirrors a pervasive weakness seen across global technology stocks as investors selectively reduced exposure in AI-focused names.Netweb Technologies India fell nearly 2%, trading down to ₹5,010.80. Orient Technologies saw a 2.24% decline, settling at ₹251.50. E2E Networks slipped 1.59% to ₹440, while data centre developer Anant Raj was down 0.88% at ₹527.60.In contrast to the broader sector weakness, Black Box managed to buck the trend, rising...

Maruti Interior Products Ltd Board Meeting Set to Approve ESOP Allotment for Employees Maruti Interior Products Ltd has scheduled a meeting of its Board of Directors to consider matters related to employee stock option implementation, including the allotment of equity shares.The Board meeting is set to take place on Friday, June 26, 2026, at the company’s registered office located in Veraval, Gujarat.A key item on the agenda is the consideration and approval of the allotment of equity shares to eligible employees under the Maruti Interior Employee Stock Option Plan, 2023 (ESOP 2023), resulting from the exercise of Employee Stock Options.The meeting will also address matters incidental and ancillary to the proper implementation of...

Kitex Garments Ltd to Hold Shareholder and Creditor Meetings for Demerger Scheme Kitex Garments Limited is set to hold meetings of its Equity Shareholders and Unsecured Creditors concerning a proposed Scheme of Arrangement. The meeting details were issued following an order dated January 22, 2026, from the National Company Law Tribunal, Kochi Bench.The meetings are being held to consider and potentially approve the Scheme, which involves the demerger of Kitex Childrenswear Limited (the Demerged Company) into Kitex Garments Limited (the Resulting Company). The arrangement is conducted under Sections 230 to 232 of the Companies Act, 2013.The meetings for stakeholders are scheduled for Friday, July 24, 2026, and will be held through...