Markets

SBI Cards Appoints New EVP and Head of Internal Audit; Existing Executive Set to Demit Office SBI Cards and Payment Services Limited has announced significant changes in its senior management, appointing Mr. Chander Kant as the new Executive Vice President (EVP) and Head of Internal Audit. The company also confirmed that Mr. Ved Prakash, the incumbent EVP and Head of Internal Audit, will conclude his tenure.The Board of Directors of SBI Cards approved the appointment of Mr. Chander Kant for a period of three years. This position is set to be effective starting July 01, 2026, and was finalized following recommendations from the Audit Committee and Nomination and Remuneration Committee.Concurrent with this new appointment, the company...

Ujaas Energy Approves Up to Rs 1,000 Crore Borrowing Limit and Directors' Reappointments The Board of Directors of Ujaas Energy Limited held a meeting on June 22, 2026, where several key resolutions were considered and approved. These decisions included the regularization of Mrs. Geeta Mundra’s appointment as a Non-Executive Director and Chairman, the reappointment of Mr. Vikalp Mundra, and approval for the company to borrow funds up to Rs. 1,000 Crores, pending shareholder ratification at the ensuing Annual General Meeting (AGM).During the meeting, the board focused on corporate governance matters, approving various reports necessary for the financial year ending March 31, 2026. These approved items included the Secretarial Audit...

Usha Financial Services Limited Approves Allotment of Unlisted Debentures in Private Placement Usha Financial Services Limited announced that its Board of Directors approved the allotment of Unlisted 12% Secured Redeemable Non-Convertible Debentures (Series 'Q'). The decision was made following a Board meeting held on Monday, June 22, 2026.The company's board reviewed and ratified the allocation of these debentures, which will be issued on a private placement basis.Details regarding the approval include:DetailDescriptionFinancial InstrumentUnlisted Secured Redeemable Non-Convertible Debentures (Series 'Q')Interest Rate12%Issuance MethodPrivate placementBoard Meeting DateJune 22, 2026The board meeting commenced at...

Surge in Profitability: Adani Enterprises Proposes Big Dividend Amid Portfolio-Wide AGM Blitz Seven distinct companies within the vast Adani Group are scheduled for their Annual General Meetings (AGMs) this week. These AGMs pertain to the financial year ended March 31, 2026. All meetings will be held virtually via Video Conferencing or Other Audio Visual Means. Shareholders are being asked to review FY26 financials and consider key governance matters including director re-appointments and dividend declarations across the group’s diverse verticals.Corporate Governance Mandates Across Adani Group The AGMs involve crucial decisions regarding corporate structure and oversight for members like Adani Ports and Special Economic Zone, Ambuja...

Turtlemint Fintech Solutions IPO: Retail Subs at 49%; Check Grey Market Premium as Pricing Hype Builds Turtlemint Fintech Solutions has seen steady traction in its initial public offering (IPO) on the second day of bidding. As of 12:30 p.m., the fintech firm registered a subscription rate of 49 percent. The IPO, which is set to conclude on June 23, is expected to raise Rs 883 crore and proposes a listing on both the NSE and BSE.The company's IPO was opened with a price band fixed at Rs 144-152 per share. At the higher end of this range, Turtlemint Fintech Solutions is valued at over Rs 4,500 crore. Prior to the public issue, the firm successfully raised Rs 397.20 crore from anchor investors.IPO Subscription Details and Segment...

Compuage Infocom Ltd Schedules 26th Committee of Creditors Meeting Compuage Infocom Ltd has scheduled the 26th meeting of its Committee of Creditors. This meeting is set to take place on Wednesday, June 24, 2026, at 03:00 P.M.The event concerns Compuage Infocom Ltd, which is currently under the Corporate Insolvency Resolution Process as defined by the Insolvency and Bankruptcy Code 2016. The affairs of the company and its assets are being managed by the appointed Resolution Professional, Mr. Gajesh Labhchand Jain.COMPINFO Stock Price Movement Shares of Compuage Infocom Limited are tumbling down by ₹0.04, or 2.99%, to trade at ₹1.30 as of 12:42 PM in live trading. The stock movement has seen a total volume of 28,895 shares traded so...

NIIT Learning Systems Allots 143,000 Equity Shares Under Employee Stock Option Plan NIIT Learning Systems Ltd has completed the allotment of equity shares under its Employee Stock Option Plan 2023-0. The Share Allotment Committee of the company officially sanctioned the allocation on June 22, 2026.The company allotted a total of 143,000 Equity Shares, each valued at Rs. 2/- in accordance with the terms set forth by the Employee Stock Option Plan 2023-0.NIIT Learning Systems is currently focused on completing the necessary formalities related to the listing of these shares. The company stated that it will soon file a listing application along with required documents to seek trading and listing approval from the relevant exchanges...

Satish Kumar Goyal Acquires 40.15% of O. P. Chains Ltd Through Inter-Se Share Transfer O. P. Chains Limited has detailed a proposed inter-se transfer of equity shares, resulting in Satish Kumar Goyal acquiring a significant stake within the company. The transaction is set to take place on or after June 29, 2026.The acquisition involves the purchase of 2,750,100 equity shares by Satish Kumar Goyal from several members of the Promoter Group. This transfer accounts for 40.15% of the total equity share capital of O. P. Chains Limited. The proposed price for the shares is Rs. 30/- per share.The acquisition details are summarized below:Transferor/SellerShares Disposed% of HoldingAshok Kumar Goyal1,382,00020.1752%Kusum...

Foreign Giants Surge into India's ₹1.53 Lakh Crore ABS Market, Fueling Domestic Credit Growth India’s asset-backed securities market has hit a record high, driven by growing interest from global banks seeking exposure to one of the world’s fastest-growing major economies. The surge underscores the increasing sophistication and robustness of India’s domestic credit landscape.Foreign lenders have significantly increased their participation in this market. According to Krishnan Sitaraman of Crisil Ratings, foreign banks now account for about 30% of total issuance in the year ended March, up from 28% in each of the two preceding fiscal years. This trend has seen overseas lenders invest approximately $5.6 billion out of the ₹1.53 lakh...

Dr Reddy Stock Jumps as Nomura Predicts Major Re-Rating Driven by Shift to Branded Generics Portfolio Shares of Dr Reddy's Laboratories saw a significant surge on Monday, trading at Rs 1,289 and climbing 1.33 percent. The gain placed the stock among top Nifty performers, driven by a strong 'buy' rating issued by Nomura. The brokerage believes that the company’s intensified strategic focus on branded generics and consumer healthcare is set to fundamentally support earnings growth and drive a substantial re-rating of the stock.Stock Gains Amid Strategic Shift Focus Dr Reddy's shares outperformed the broader market indices, even as the company navigates near-term business challenges. While the current day saw strong gains, the stock had...

Onward Technologies Ltd Announces 35th Annual General Meeting and Key Board Appointments Onward Technologies Limited has scheduled its 35th Annual General Meeting (AGM) for July 16, 2026. The meeting will be held via Two-way Video Conferencing (VC) or Other Audio Visual Means (OAVM).The AGM agenda includes the adoption of the company’s financial statements and a key focus on managerial appointments, dividend declaration, and director reappointments.Key Dates for Shareholders The company has finalized several critical dates in relation to its 35th AGM and the payment of dividends for the Financial Year (FY) 2025-2026.ParticularsRelevant DateRecord Date for Dividend PaymentFriday, July 03, 2026Cut-off Date for E-Voting...

Delhivery Stock Surges on Analyst Upgrade: Motilal Oswal Sees Massive Upside Amid Strong Volume Growth and Cost Control Delhivery shares witnessed a strong rally on Monday, climbing nearly 3 percent after brokerage firm Motilal Oswal Financial Services (MOSL) projected significant upside for the stock. MOSL has maintained a 'Buy' rating on Delhivery, forecasting up to 26 percent potential growth based on the company's impressive volume acceleration and decisive cost management efforts.The stock traded at an intraday high of Rs 473.95 per share on the NSE, reflecting positive market sentiment. Shares of the logistics firm have shown sustained upward momentum, registering gains for four consecutive sessions and accumulating more than 4...

Cipla Stock Surges Above 4% as Citi Boosts Pharma Giant, Eyes Near-Term US Triggers Shares of Cipla surged over 4 percent on Monday, emerging as one of the top performers in the Nifty indices. The stock traded at Rs 1,407 following a rating reinforcement from Citibank (Citi), which placed the pharmaceutical major on a list of near-term positive catalyst stocks.The brokerage maintained its target price for Cipla at Rs 1,700. This suggests significant potential upside of 26 percent from current trading levels. Citi believes that several key factors point towards a favorable rebound in the company's crucial US business operations.Near-Term Catalysts Drive Citi’s Positive Outlook Citi identified multiple near-term triggers set to fuel...

$8.2 Billion Frenzy: SpaceX IPO Drives Leveraged ETF Surge as Jefferies Flags Risks in Mega Global Index Inclusion A frenzy around the SpaceX Initial Public Offering (IPO) has generated massive trading volumes in related leveraged exchange-traded funds, according to a new report from Jefferies. The event underscores how rapidly changes in index inclusion rules are enabling mega listings to enter global benchmarks, significantly boosting US equity dominance worldwide.In their report, The Art of Capitulation, Jefferies highlighted the immediate market reaction. Eleven specialized leveraged single-stock SpaceX ETFs amassed $638 million in assets by Wednesday, while generating a staggering combined trading volume of $8.2 billion within...

Independent Director Resigns from Switching Technologies Gunther Ltd Due to Personal Reasons Switching Technologies Gunther Ltd has reported the resignation of its Independent Director, Mr. Sharanabasaweshwar Gangadharayya Hiremath. The director resigned effective June 22, 2026, citing personal reasons for his departure from the company.The company confirmed that there are no other material reasons for the resignation beyond those stated. During his tenure, Mr. Hiremath held additional directorship responsibilities at Ormed Medical Technology Limited.Mr. Sharanabasaweshwar Gangadharayya Hiremath resigned as Independent Director of Switching Technologies Gunther Ltd, having been appointed to the role on June 22, 2026. The director...

Satish Kumar Goyal Acquires 40.15% Stake in O. P. Chains Ltd Through Inter-Se Share Transfer O. P. Chains Limited has been subject to a significant inter-se transfer of equity shares involving members of its Promoter Group. The acquisition is being carried out by Satish Kumar Goyal from several entities within the Promoter Group, marking an intra-group transaction that affects the company's shareholding pattern.The proposed transaction, scheduled for On or after 29th Day of June, 2026, involves the transfer of a substantial number of shares to Satish Kumar Goyal. The acquisition comes from five members of the Promoter Group, including Ashok Kumar Goyal, Kusum Agarwal, Moon Goyal, Shobhik Goyal, and Mohit Goynal.The total number of...

Recommended Dividend and Record Date Announced for Plada Infotech Services Limited Plada Infotech Services Limited has announced a recommended dividend of ₹ 8 per equity share, pertaining to the Financial Year 2025-26. The company also specified the Record Date for determining member entitlement to this dividend.The proposed dividend is based on shareholders holding records as of Friday, July 3, 2026. The recommendation was previously informed in May 2026.The dividend amount has been set at ₹ 8 (Rupees Eight only) per equity share, which carries a face value of Rs.10/- each. The dividend remains subject to the approval of Shareholders during the ensuing Annual General Meeting (AGM).The company stated that the dividend, subject to...

Cochin Shipyard Shares Plunge as Government Signals Impending Offer for Sale Amid Funding Drive Shares of Cochin Shipyard experienced a downturn on June 22 after CNBC-TV18 reported that the government is likely to soon launch an Offer for Sale (OFS) for the defence company. This news caused the stock to fall nearly 2%.The potential sale is part of a broader strategy by the government, aiming to mop up significant funds through OFSs in various Public Sector Undertakings (PSUs). The market reacted negatively to the possibility of dilution and change in ownership structure.Potential Discount and Stake Details Revealed CNBC-TV18 reported that the upcoming OFS for Cochin Shipyard could be offered at a discount ranging between 6% and 8%...

Onward Technologies Recommends Dividend of ₹8 Per Share for FY 2025-26; Sets July 3 Record Date Onward Technologies Limited has announced the recommendation of a dividend for its shareholders covering the Financial Year 2025-26. The company set Friday, July 3, 2026, as the record date for members entitled to the proposed payout.The management has recommended a dividend of ₹8 (Rupees Eight only) per equity share. The face value of the shares is Rs.10/- each. This dividend is subject to the approval of shareholders at the ensuing Annual General Meeting (AGM).Regarding the payment schedule, the company stated that the dividend will be paid within 30 days from the date of declaration. This disbursement is contingent upon shareholder...

CARE Ratings Upgrades Credit Rating for Nitin Spinners Ltd.'s Bank Facilities CARE Rating Limited has upgraded and reaffirmed the credit rating assigned to the bank facilities of Nitin Spinners Ltd., following a review of the company's operational and financial performance. The ratings pertain to both Long Term and Short Term Bank Facilities, as detailed by the rating agency on June 22, 2026.The upgrade relates to the Long Term Bank Facilities, which have been upgraded from CARE A; Positive to CARE A+; Stable. Concurrently, the rating for Short Term Bank Facilities has been reaffirmed at CARE A1.Long Term Facility Details The total amount of Long Term Bank Facilities rated stands at ₹2,371.71 crore. The facilities are structured...