Markets

India's Fuel Shield: Minister Puri Confirms Domestic Prices Held Steady Despite Global Crude Volatility Stabilizing Consumer Burden Against Global Oil Market Chaos Union Petroleum and Natural Gas Minister Hardeep Singh Puri asserted that domestic petrol and diesel prices have not seen a significant increase, even amidst extreme volatility in international crude oil markets. Addressing the media in Sonbhadra, Puri stressed that government intervention has successfully protected consumers from excessive price hikes. He stated that if viewed in real terms, there has been no material rise in fuel costs across the country.Puri pointed out that Prime Minister Narendra Modi had implemented successive reductions in central excise duty (in...

Indian Women Must Surge in Economy and Politics to Drive Nation Towards 2047 Developed Goal Mandaviya Stresses Need for Greater Female Contribution in National Decision-Making Labour and Employment Minister Mansukh Mandaviya emphasized the critical need for women's increased involvement across India’s economy, politics, and decision-making structures. He stated that strengthening women's contribution is paramount to achieving the ambitious goal of becoming a developed nation by 2047.Speaking at the 5th NAREDCO Mahi Real Estate Convention, Mandaviya highlighted the governmental efforts made over the last twelve years toward women empowerment. The Minister pointed to the passage of the Women's Reservation Bill in Parliament as a...

Krishival Foods' Subsidiary Plant Hosts Investor and Analyst Visit A group of analysts and investors recently visited the ice cream plant belonging to 'MELT 'N' MELLOW,' a subsidiary company of Krishival Foods Limited. The visit provided insights into the operations at the facility located in Chhatrapati Sambhaji Nagar, Maharashtra.The visit took place on Saturday, June 20, 2026, at the Melts 'n Mellow plant situated at Plot No. 1, Gut No. 4, Pimpalgaon Pandhari, Taluka and District of Chhatrapati Sambhaji Nagar, Maharashtra. Krishival Foods Limited participated in the site visit by offering information relevant to publicly available data during the engagement.During the session with analysts and investors, it was confirmed that no...

World Bank Backs Haryana's Mega Water Project: ₹4,000 Crore Loan Boosts Jal Sanrakshit Initiative Haryana is set to achieve significant strides toward water self-reliance with the approval of a major loan from the World Bank. The financial backing for the state's ambitious 'Jal Sanrakshit Haryana' project has been secured, promising a transformational overhaul of the irrigation and water management infrastructure across the state.Chief Minister Nayab Singh Saini announced that the World Bank has approved a loan amounting to ₹4,000 crore for this initiative on Saturday. The total cost estimated for the comprehensive project is ₹5,714 crore, with implementation scheduled over several phases between 2026 and 2032.Scope and...

Texmaco Rail & Engineering Secures Odisha Power Transmission Corporation Contract Valued at 11.65 Crores Texmaco Rail & Engineering Limited has been awarded two orders by the state-owned Odisha Power Transmission Corporation Limited (OPTCL). The contracts pertain to essential infrastructure work and are valued at a total of Rs. 11.65 crores, encompassing all taxes.The contract award covers the comprehensive scope of engineering, supply installation, testing, and commissioning works required for the Construction of the 2nd Circuit SC line on DC tower, which is structured as a Turnkey Contract basis.This business development highlights Texmaco's engagement with domestic utility providers in infrastructure projects. The orders have...

PhonePe Clarifies Wallet Inactivity Fees Do Not Affect UPI or Linked Bank Accounts PhonePe has issued clarifications addressing widespread customer confusion regarding inactivity fees imposed on dormant prepaid wallets. The company confirmed that these charges apply solely to the independent wallet balance and have no bearing on transactions conducted through Unified Payments Interface (UPI) or money flow directly from linked bank accounts. This move aims to differentiate clearly between various payment instruments within its ecosystem.Understanding the Difference Between UPI and PhonePe Wallets A common misconception among users is that their phone account, UPI service, and prepaid wallet are the same entity. In reality, they...

Pace Digitek Approves Major Expansion, Acquires Stake in Inso Pace Private Limited and Launches New Research Centre Pace Digitek Limited, during a Board of Directors meeting held on June 20, 2026, announced several strategic decisions concerning its operational growth, corporate structuring, and talent management. The company approved the launch of an Employee Stock Option Plan (ESOP), committed to significant manufacturing expansion in renewable energy solutions, acquired a controlling stake in Inso Pace Private Limited, and appointed Ms. Maya Swaminathan Sinha as an Additional Director.Strategic Investment and Manufacturing Capacity Boost The Board discussed the ongoing expansion of its existing manufacturing facility located in...

DJ Mediaprint & Logistics Board Approves Final Dividend Recommendation and Appoints Internal Auditors DJ Mediaprint & Logistics Limited, formerly known as DJ Logistic Solutions Private Limited, announced key outcomes from its recent Board of Directors meeting held on Saturday, June 20, 2026. The Board considered several corporate governance matters, including the recommendation of a final dividend, the scheduling of the Seventeenth Annual General Meeting (AGM), and the appointment of new internal auditors.The Board recommended a final dividend of Re. 0.15 per equity share against a face value of Rs. 10 for the financial year ended March 31, 2026. This dividend is subject to approval by shareholders at the ensuing AGM.Key Dates and...

IBL Finance Allots Rs 10 Lakh Non-Convertible Debentures in Private Placement IBL Finance Limited has completed the allotment of Unlisted, Senior, Secured, Unrated, Taxable, Redeemable Non-Convertible Debentures (NCDs) on a private placement basis. The company approved the issuance through its Finance Committee meeting held on June 20, 2026.The total size of the issue is Rs 10,00,000/- (Rupee Ten Lacs Only), comprising 10 Non-Convertible Debentures each with a face value and issue price of Rs 1,00,000/-. This issuance was approved previously by the Board of Directors on July 16, 2025, following shareholder approval at the Annual General Meeting held on August 22, 2025.The NCDs are designated as Unlisted and were issued through a...

Remus' Stepdown Subsidiary Faces Penalty from US Tax Authority Over Alleged Non-Payment Remus Pharmaceuticals Limited has reported that its stepdown subsidiary, Espee Biopharma & Finechem LLC (EBFL), has received a penalty notice from the Department of the Treasury Internal Revenue Service (IRS) regarding alleged tax deficiencies. The penalty, amounting to USD 14,247.38, stems from allegations of non-payment and late filing of taxes by EBFL to the IRS.The notice was issued by the IRS, and Remus Pharmaceuticals Limited confirmed that the communication was received on June 19, 2026.EBFL has responded to the imposition of the penalty. The company states that it believes no case for penalization exists since the necessary tax amount had...

BHEL, Coal India Commit Rs 25,000 Crore to Odisha Project: Gasification Set to Transform Coal Sector Bhatia Heavy Electricals Limited (BHEL) and Coal India Limited (CIL) have jointly committed a massive investment of ₹25,000 crore towards a coal gasification project in Odisha. This significant initiative marks a major strategic shift from conventional power generation, aiming to unlock new industrial opportunities using the state's vast coal reserves.The announcement was made by Union Coal and Mines Minister G Kishan Reddy during an event held in Jharsuguda, attended by Prime Minister Narendra Modi and President Droupadi Murmu. The project is designed not only to diversify how coal is used but also to bolster downstream industrial...

Cyient Ltd Issues Addendum to Tender Offer for Share Buyback Cyient Limited has released an addendum concerning its ongoing tender offer to buy back equity shares. The update pertains to the initial Letter of Offer issued on June 19, 2026, and details the parameters of the share repurchase program.The Company is offering to buy up to 64,00,000 fully paid-up equity shares, with a face value of INR 5 each. This tender offer represents up to 5.76% of the existing fully paid-up equity share capital of Cyient Limited, calculated on a standalone basis.The buyback is open to all eligible shareholders and excludes promoters, members of the promoter group, and any person in control of the company's equity shares as of the record date. The...

Utkarsh Small Finance Bank Announces New Director Appointment and Plans ₹500 Crore Bond Issuance Utkarsh Small Finance Bank Limited has announced significant developments regarding its board composition and capital strategy. The bank confirmed the appointment of Mr. Sarjukumar Pravin Simaria as an Additional Director (Executive) and disclosed plans to issue unsecured, subordinated Tier II bonds up to ₹500 crore through a private placement.The Board meeting held on June 20, 2026, among other decisions, approved the issuance of Non-Convertible Debentures in the form of Tier II bonds. This fundraising initiative is intended as part of additional capital and would be within the borrowing limits set for the bank.Personnel Changes and...

Tamilnad Mercantile Bank Limited Announces Opening of New Branch in Mecheri Tamilnad Mercantile Bank Limited has announced plans for expanding its network with the opening of a new branch located in Mecheri. The bank is introducing this new facility to serve customers in the area, marking a key operational update for the institution.The new branch will be officially opened on June 24, 2026.Key details regarding the new branch are as follows:Branch NameAddressDate of OpeningMecheriD.No:16-1-268C, Santham Complex, Dharmapuri Main Road, Chamrajpet PO, Mecheri, Mettur Taluk, Salem District, Tamilnadu - 636 451.24.06.2026This expansion move highlights the bank's ongoing commitment to growing its presence across regions.TMB...

Power Mech Projects Secures ₹ 1,008.90 Crore Order for Thermal Power Project in West Bengal Power Mech Projects Limited has secured a significant order from JSW Thermal Energy Limited for the execution of civil and structural works. The contract involves services related to a large-scale thermal power project located at Salboni, West Bengal.The deal, valued at ₹ 1,008.90 Crores inclusive of GST, details the scope of work between the two companies. JSW Thermal Energy Limited is the entity awarding the domestic order to Power Mech Projects Limited.The contract specifies that the civil and structural works pertain to the BTG Area of a 2x800MW Thermal Power Project at Salboni. The execution timeline for the project has been set for...

Independent Director Resigns from Uniinfo Telecom Services Limited Due to Priorities and Location Changes Uniinfo Telecom Services Limited has announced the resignation of Mr. Prakash Chandra Chhajed from his position as an Independent Director, effective June 20, 2026. The company confirmed that the change stems from personal priorities and his long-term absence from Indore.Mr. Chhajed tendered his resignation with immediate effect. As a result of this cessation, he will no longer serve as the Chairman of the Audit Committee and Nomination and Remuneration Committee. Furthermore, he will cease to be a member of the Stakeholders Relationship Committee and the Corporate Social Responsibility (CSR) Committee of Uniinfo Telecom Services...

Krishna Defence Announces Record Date for Dividend Entitlement for FY 2025-26 Krishna Defence and Allied Industries Limited has announced the necessary dates related to the entitlement of dividends for its shareholders concerning the financial year 2025-26. The company provided details regarding the record date, book closure status, and the cut-off date for dividend entitlement and e-voting.The announcement clarifies that Krishna Defence and Allied Industries Limited will not be closing its registers of members and share transfer book. This information was provided in relation to an Annual General Meeting scheduled for July 15, 2026.Key details regarding the equity shares of KRISHNADEF are summarized below:SecurityBook Closure...

Prism Johnson Limited Cement Plant Undergoes GST Inspection by DGGI Officials in Madhya Pradesh Prism Johnson Limited underwent an inspection of its Cement Plant situated in Satna District, Madhya Pradesh, conducted by officials from the Directorate General of GST Intelligence (DGGI).The inspection proceedings, concerning Section 67(1) of the Central Goods and Services Tax Act, 2017, commenced on June 20, 2026, at 11:00 a.m. The process was concluded by the GST officials around 7:30 p.m. on the same day. Company representatives provided full cooperation and assistance to the investigating officials during the inspection.The DGGI investigation involved the Senior Intelligence Officer of the Jabalpur Unit. Official communication...

Knowledge Marine Secures ₹ 66.11 Crore Contract from IWAI for Building Hybrid Electric Ferries Knowledge Marine & Engineering Works Limited (KMEW) has secured a contract with the Inland Waterways Authority of India (IWAI) worth ₹ 66.11 Crores. The project involves the design, construction, supply, testing, and commissioning of ten hybrid electric passenger ferries in collaboration with Knowledge Shipyard Private Limited (KSPL), a subsidiary of KMEW.The contract encompasses the entire lifecycle of the vessels, spanning initial manufacturing through a long-term maintenance commitment, positioning the company within India's growing green maritime infrastructure segment.The consignment involves the production of 10 hybrid electric...

On Door Concepts Limited Corrects Preferential Allotment Details for Key Shareholders On Door Concepts Limited has clarified and corrected certain inadvertent clerical errors in Annexure-B, which details the outcome of its Board Meeting held on June 18, 2026, regarding the preferential allotment of equity shares. The company issued the correction on June 20, 2026, ensuring all other information pertaining to the original Board Meeting remains valid.The corrections involve specific allotments made to three shareholders: Priyam Bansal, Amrita Agarwal, and Parmeet Kaur.For Priyam Bansal, the Post-Preferential Shareholding was corrected from 1,00,000 Equity Shares to 48,000 Equity Shares. For Amrita Agarwal, the details were corrected...