Markets

Solex Energy Recommends Dividend and Approves Listing of Equity Shares on BSE Mainboard Solex Energy Limited announced key outcomes from its Board of Directors meeting held on June 18, 2026. The board considered and recommended a dividend payment along with approving the listing of the company's existing equity shares on the BSE Mainboard Platform.The Board meeting conducted by Solex Energy determined the recommendation of a dividend amounting to Rs.0.55/- per share for the financial year ended March 31, 2026. This dividend is based on the face value of the company's shares, which are priced at Rs.10/- each.If this dividend proposal receives approval from the shareholders during the ensuing Annual General Meeting, Solex Energy...

RBI Announces Massive ₹32,000 Crore Underwriting Auction of Government Securities The Reserve Bank of India (RBI) has announced a significant underwriting auction for government securities scheduled to take place on Friday, June 19, 2026. This high-stakes event involves the re-issuance and sale of various debt instruments by the Government of India.The total value of the securities being offered through this comprehensive underwriting process amounts to ₹32,000 crore. The auction aims to ensure continued market stability and smooth liquidity management for public debt holders.RBI Schedules Major Underwriting Auction for Government Debt The underwriting auction will be conducted through a multi-price based method on June 19, 2026...

Kalpataru Properties Appeals GST Demand Over Rs 40 Lakhs in Tax Tribunal Kalpataru Properties (Thane) Ltd., a wholly owned subsidiary of Kalpataru Limited, has challenged tax orders by filing appeals before the GST Appellate Tribunal. The action pertains to GST demands raised against the company for the financial year 2017-18, related to inputs used in construction activities.The appeal was filed on June 17, 2026. It targets orders issued by both the Deputy Commissioner of State Tax, dated January 30, 2026, and the Additional Commissioner, dated August 18, 2025. These orders relate to the alleged wrongful availing of transitional credit on inputs found in semi-finished goods utilized for the construction of immovable property.The...

Bharat Wire Ropes Resumes Manufacturing Activities at Chalisgaon Plant Following MPCB Approval Bharat Wire Ropes Ltd has successfully resumed manufacturing operations at its Chalisgaon plant after receiving the necessary clearance from the Maharashtra Pollution Control Board (MPCB).The company confirmed that it received a communication dated June 17, 2026, from the MPCB. This document, digitally signed on June 18, 2026, granted permission for the restart of manufacturing activities at the Chalisgaon facility.In line with the direction provided by the MPCB, Bharat Wire Ropes Ltd has fully resumed operations at the plant, signaling a continuation of its industrial output after receiving the required environmental approval.BHARATWIRE...

Kalpataru Ltd faces tax appeal filed by Deputy Commissioner of Income Tax Kalpataru Ltd has been informed that the Deputy Commissioner of Income Tax (DCIT) has filed an appeal before the Income Tax Appellate Tribunal. The appeal challenges an Order previously issued by the Commissioner of Income Tax (Appeals) [CIT(A)].The appeal pertains to a matter under Section 253 of the Income Tax Act, 1961, which relates to the assessment year 2022-23. This dispute involves partial relief granted by the CIT(A).According to reports, the tax impact associated with this appeal amounts to Rs. 237.68 lacs, excluding applicable interest.Kalpataru Ltd confirmed that it will defend the matter and expressed confidence regarding a favorable outcome in...

Namo e-Waste Management Plans Transition to Integrated Mineral Recovery Business Amid Major Capacity Expansion Namo e-Waste Management Limited, a key player in India’s recycling sector, is solidifying its position as an integrated e-waste and battery recycler. The management highlighted a strategic shift from traditional recycling toward becoming a fully integrated critical mineral and resource recovery business, aligning with the goals of the circular economy and the National Critical Minerals Mission.The company's growth story is underscored by recent financial performance and ambitious expansion projects designed to enhance value addition through advanced resource processing.Financial Performance and Operational Scale For the...

Veejay Lakshmi Engineering Works Announces Board Meeting on Borrowing Limit Fixation Veejay Lakshmi Engineering Works Ltd has scheduled its 230th Meeting of the Board of Directors to address key corporate matters, including the fixation of the company's borrowing limit.The meeting is set to be held on Saturday, June 20, 2026, in Coimbatore. The primary agenda item for the board is to consider and approve the company’s Borrowing Limit. This decision will require subsequent approval by the General Body.Stock Price Movement As of 11:45, Veejay Lakshmi Engineering Works Ltd. is ticking up, currently trading at ₹35.33, reflecting a 2.58% increase. The shares have traded within their intraday range, moving from a low of ₹35.00 to an...

GSM Foils Limited Launches New Line of Aluminum ROPP Caps Business GSM Foils Limited has initiated a significant expansion into a new business segment with the commencement of manufacturing ROPP Caps made of aluminum. The company entered into a Memorandum of Understanding (MoU) with AAPL SOLUTIONS PRIVATE LIMITED on June 17, 2026, to facilitate this expansion.The new product line, which is aimed at serving the alcohol and beverage industry, is designed for use in various syrup and similar bottles. Furthermore, the MoU specifically outlines the leasing of property, plant, and machinery to enable GSM Foils Limited to enter the ROPP Caps business targeting the Pharma industry.This venture marks a major operational milestone for the...

Asahi Group Partners with Varun Beverages Limited to Introduce Iconic CALPIS Brand in India Asahi Group Holdings, Ltd. has announced a significant business alliance agreement with Varun Beverages Limited (VBL) to launch the globally recognized CALPIS brand into the Indian market. This partnership aims to introduce a ready-to-drink, non-alcohol/non-carbonated dairy based product line under the CALPIS name.The debut is set for the second half of 2026 or thereafter. The initial offering will feature two distinct flavor variants: Original and Mango. This venture marks Asahi Group’s entry into India's non-alcohol/non-carbonated beverage segment.CALPIS, a fermented milk-based beverage that has been enjoyed for more than a century in...

RateGain Signs Cinko as Demand Partner to Boost Last-Minute Hotel Bookings India, 18 June 2026: RateGain Travel Technologies Limited, a global provider of AI powered SaaS solutions for the travel and hospitality industry (BSE: 543417, NSE: RATEGAIN), announced that it has partnered with Cinko. This partnership involves integrating Cinko, a last-minute hotel booking app developed by Remwes, LLC, as a demand partner within RateGain's Enterprise Connectivity platform.The engagement is set to allow Cinko seamless access to RateGain's worldwide hotel supply ecosystem through robust and reliable integrations. By establishing this connection, the partnership aims to expand Cinko's inventory reach and bolster its same-day booking offering for...

Monarch Surveyors secures LOA for Consultancy Services on Assam Resilient Rural Bridges Program Monarch Surveyors and Engineering Consultants Ltd has secured a Letter of Acceptance (LOA) to provide consultancy services for the Design and Detailed Project Report (DPR) preparation for 193 bridges under the World Bank-financed Assam Resilient Rural Bridges Program (ARRBP). The total value of this project stands at Rs. 1,74,24,057.The contract involves work to be carried out in the state of Assam, focusing on maintaining existing structures and developing necessary infrastructure improvements. The scope includes maintenance for various bridges, widening existing bridges, replacing temporary bridges with RCC bridges, constructing new...

Oriana Power Limited Certified as 'Great Place To Work' by Institute for Strong Organizational Culture Oriana Power Limited has been certified as a 'Great Place to Work' by the Great Place to Work® Institute, recognizing its commitment to fostering an exceptional and positive workplace environment. The achievement signifies a significant milestone in the company’s dedication to organizational health, employee engagement, and corporate excellence.The prestigious certification is based on rigorous assessment and feedback collected directly from employees. This recognition affirms Oriana Power Limited’s strong organizational culture and its efforts toward maintaining a high-performing work atmosphere.This designation serves as a...

Sensex Plummets 300 Points as Fed's Hawkish Stance and IT Selling Force Markets into the Red The Indian stock market saw a sharp correction on Thursday as benchmark indices erased earlier gains, moving into negative territory. The decline was driven primarily by persistent selling pressure in information technology (IT) stocks and a hawkish message from the US Federal Reserve regarding future interest rate movements.By noon, the Sensex fell 137.77 points or 0.18 percent to 77,017.84, which was approximately 300 points lower from its day's high. Simultaneously, the Nifty declined 34.25 points or 0.14 percent, closing at 24,051.45.Profit Booking and Sectoral Weakness Drive Correction The market turnaround was attributed to profit...

NCLT Allows Scheme of Arrangement Between Palco Metals and Palco Recycle Industries The National Company Law Tribunal (NCLT), Ahmedabad Bench, has issued orders allowing the First Motion Application concerning the proposed Scheme of Arrangement between Palco Metals Limited (the Transferee Company) and Palco Recycle Industries Limited (the Transferor Company). The order was pronounced on June 16, 2026.Under the directions issued by the Tribunal in connection with this scheme, companies are required to convene specific meetings for their various stakeholders. For Palco Metals Ltd, the NCLT directed that a meeting of its equity shareholders be held within 45 days from the date of the order. The Transferee Company is also instructed to...

Damani Set for Multi-Crore Windfall as NSE IPO Gears Up to Unveil Billions in Wealth The National Stock Exchange's highly anticipated initial public offering (IPO) is set to distribute vast amounts of wealth, promising significant gains across a diverse spectrum of shareholders. From influential industry veterans and marquee investors to major financial institutions, the forthcoming sale represents a pivotal moment in India’s capital market journey.The IPO is structured entirely as an offer for sale, with existing stakeholders collectively divesting approximately 6 percent of NSE's equity base. With an assumed IPO price pegged at Rs 2,000 per share, the valuation scale underscores the exchange's profound growth trajectory over three...

RBL Bank Completes Preferential Share Allotment to Emirates NBD; Announces Key Board Reconstructions RBL Bank Limited has announced significant changes to its capital structure and board composition following a meeting of its Board of Directors held on June 18, 2026. The bank successfully completed the preferential allotment of equity shares to Emirates NBD Bank (P.J.S.C.), which results in an increase in the paid-up equity share capital. Simultaneously, the Board approved the appointment of several new directors and noted the resignations of two existing board members.Preferential Allotment Details The Bank’s Board approved the allotment of 92,91,34,820 fully paid up equity shares to Emirates NBD Bank (P.J.S.C.) on a private...

RBL Bank Completes Preferential Issue and Appoints Directors as Part of Board Reconstitution RBL Bank Limited announced several significant developments following its Board meeting held on June 18, 2026. The bank successfully completed a preferential issue to Emirates NBD Bank (PJSC) and made strategic changes to its board composition, including the appointment of four new directors and noting the resignations of two existing directors.Preferential Allotment Details The Board approved the allotment of fully paid-up equity shares through a private placement basis to Emirates NBD Bank (PJSC). The bank allotted 92,91,34,820 equity shares at an issue price of INR 280 per share. This transaction aggregated to INR 260,15,77,49,600.This...

JBM Ecolife Mobility Secures INR 750 Crore Strategic Investment from Motilal Oswal to Scale E-Bus Deployment New Delhi, June 18, 2026: JBM ECOLIFE Mobility (P) Ltd., a division of JBM Auto Ltd. and a leading electric bus manufacturer in India, has secured a INR 750 Crore long term strategic investment from Motilal Oswal Alternates (MO Alternates). This capital infusion is intended to significantly scale the company’s electric bus deployment and advance sustainable public transit infrastructure across India.The transaction marks a major development in the Indian electric mobility sector, representing the largest-ever investment by any Indian investor into this space. MO Alternates, the alternative investment arm of Motilal Oswal Group...

Prestige Launches Phase 2 of Gardenia Estates in North Bengaluru Prestige Estates has announced the launch of Phase 2 of its premier plotted development, 'Prestige Gardenia Estates,' located in Devanahalli, which falls within the rapidly growing North Bengaluru corridor.The project is strategically positioned close to key infrastructure and business hubs, including Kempegowda International Airport, NH 44, the Satellite Town Ring Road, major IT parks, schools, hospitals, and retail destinations.Project Overview and Scope Prestige Gardenia Estates represents a meticulously planned, infrastructure-ready enclave spread over approximately 21 acres of land. The project is designed to create a sustainable, nature-centric community by...

Mr. Sanjay M. Chauhan Acquires Shares of Magellanic Cloud Ltd in Open Market Transaction Mr. Sanjay M. Chauhan has acquired shares of Magellanic Cloud Ltd, which was previously known as South India Projects Limited, through an open market transaction. The acquisition relates to shares carrying voting rights and constitutes a stake of 2.42% in the target company.The details of the acquisition highlight Mr. Chauhan’s interest in Magellanic Cloud Ltd. As reported on June 16, 2026, Mr. Sanjay M. Chauhan acquired 142,812,202.42 shares carrying voting rights through the open market.Mr. Chauhan was identified as an acquirer and acted as a Person Acting in Concert (PAC). He is not associated with the Promoter group of Magellanic Cloud Ltd...