Markets

Five Offshore Funds Challenge SEBI at SAT Over 'Mechanical' Proceedings in Hindenburg Saga The Securities Appellate Tribunal (SAT) has adjourned a significant legal matter involving five major offshore funds, setting a crucial hearing for June 22. These funds, named in the highly scrutinized January 2023 Hindenburg report, are challenging the initiation of proceedings by an adjudicating officer of the Securities and Exchange Board of India (SEBI).The dispute centers on procedural fairness. The funds allege that SEBI initiated its proceedings without providing adequate reasons for such action, forcing them to seek redressal from the apex tribunal.The Legal Challenge Posed by Offshore Funds Senior Advocate Zal Andhyarujina...

Hatton National Bank and Nucleus Software Mark Five Years of Partnership in Transaction Banking Transformation Hatton National Bank PLC (HNB), a leading private sector bank in Sri Lanka, and Nucleus Software, a global provider of lending and transaction banking solutions, celebrated five years of their partnership. The milestone recognized the role of FinnAxia®, Nucleus Software's flagship transaction banking platform, in modernizing HNB’s corporate banking ecosystem and supporting the bank’s digital transformation goals.The celebration brought together leaders from both organizations to affirm a collaboration built on trust and innovation. Since commencing the partnership in 2021, FinnAxia® has played a pivotal role in bolstering...

Asian Granito India Ltd Increases Capital Contribution to Nepovit Ceramic Private Limited Asian Granito India Ltd (AGIL) has approved a proposal to increase its capital contribution to Nepovit Ceramic Private Limited (NCPL), a foreign associate company, as part of its strategy in the ceramic industry. The Administrative Committee of the company approved this move during a meeting held on June 12, 2026.The proposed investment involves AGIL contributing NPR 3,47,67,000/- (up to INR 2.20 Crore) to NCPL. This transaction is categorized as a related party transaction since NCPL functions as an Associate Company of AGIL and is being undertaken at arm's length in the ordinary course of business.NCPL operates within the Ceramic Industry...

Sanghvi Movers Ltd Schedules Meet for Clients of Nuvama Wealth PCG Sanghvi Movers Ltd has scheduled an interaction meeting with clients of Nuvama Wealth PCG to discuss the company's business outlook and related information.The management team is set to meet the investors on Wednesday, June 17, 2026. This interaction will take place as a Virtual Meeting.Details of the investor interaction are presented below:DateInteraction withTypeMode of InteractionWednesday, June 17, 2026Clients of Nuvama Wealth PCGGroup MeetingVirtual MeetingThe company stated that the discussion will be based on general business outlook and information that is already in the public domain. Management confirmed that no unpublished price sensitive...

Promoter Acquires Shares in GRM Overseas Ltd, Pushing Stake Above 62% Mrs. Mamta Garg, along with members of the promoter group, has acquired shares in GRM Overseas Limited. The acquisition was completed on June 11, 2026, and represents a single transaction made through the open market.The purchase involved 50,000 equity shares of GRM Overseas Ltd, which have a face value of Rs. 2/- per share. This move updates the promoter group’s holdings in the company.Details regarding the acquisition and the stakeholders involved are as follows:MetricBefore Acquisition (Acquirer + PAC)After Acquisition (Acquirer + PAC)Shares Carrying Voting Rights129,764,445129,814,445Percentage of Holding62.62%62.65%The acquirer group includes...

CPS Shapers Limited Receives In-Principle Approval from NSE for Preferential Issue CPS Shapers Limited has secured In-Principle Approval from the National Stock Exchange of India (NSE) regarding its proposed preferential issue. The approval, granted by the NSE on June 11, 2026, pertains to the issuance of equity shares through a preferential route.The preferential allotment involves offering 31,275 Equity Shares, each having a face value of ₹10/-. These shares are being issued at an issue price of ₹1088/-, and the approval covers both Promoters and non-promoters of the company.This strategic move by CPS Shapers Limited is intended to facilitate capital raising through the proposed issuance. The regulatory body confirmed that the...

NSE Issues Advisory Letter to Ishan Dyes and Chemicals Over Warrants Lock-in Delay Ishan Dyes and Chemicals Ltd has received an advisory letter from the National Stock Exchange of India (NSE) regarding a delay in the lock-in period for warrants allotted to the company.The advisory was issued by NSE on June 11, 2026, following a review of the company's compliance regarding its convertible securities and warrants. The concern centers on the timing of the lock-in for 45,84,872 warrants that were allotted during a preferential issue on September 20, 2025.As per regulations governing non-listed convertible securities or warrants, these securities are required to be locked in for a period of one year from the date of allotment. The...

Viral Social Media Panic: PIB Confirms RBI Has No Plan to Replace Paper Notes with Plastic by June 30, 2026 A widespread social media claim suggesting that the Reserve Bank of India (RBI) will replace paper currency notes with plastic notes by a specific deadline has sparked significant public confusion. The rumors have circulated heavily across various messaging apps and online platforms, leading to unnecessary market anxiety among citizens.The government's official fact-checking arm, PIB Fact Check, has intervened to put an end to the misinformation. The team has categorically dismissed the claim as false, stating that the RBI has made no announcement regarding a planned withdrawal or replacement of paper currency notes with polymer...

Pilani Investment Announces Dividend Recommendation of Rs 9 Per Share for Financial Year Ended March 31, 2026 Pilani Investment and Industries Corporation Limited announced a dividend recommendation following its Board meeting held on June 4, 2026. The company recommended a dividend equivalent to 90% or at the rate of Rs 9/- per Equity Share of face value Rs 10/- each for the financial year ended March 31, 2026. This payment is subject to approval by the shareholders at the forthcoming Annual General Meeting (AGM).The company provided detailed guidance regarding the Tax Deducted at Source (TDS) provisions applicable to the dividend payout, which must be withheld in compliance with the Income-tax Act, 2025, effective from April 1...

Pitampura Leasing Acquires Shares in Max Heights Infrastructure Limited Pitampura Leasing & Housing Finance Limited has updated its holding in Max Heights Infrastucture Limited, confirming a share acquisition that positions it as an interested party in the company.The transaction occurred on June 11, 2026. Prior to this acquisition, Pitampura Leasing & Housing Finance Limited held a stake equivalent to 4.05% of the voting capital in Max Heights Infrastucture Limited.Pitampura Leasing acquired 13,055 shares during this transaction. This represented 0.08% of the total diluted share or voting capital of the target company. Following the acquisition, the entity's holding increased to 644,799 shares. Both companies are identified as...

Swagat Trexim Sells 2.27% Stake in MSP Steel & Power Ltd Shares Swagat Trexim Private Limited has sold a significant portion of its equity shares in MSP Steel & Power Limited, which trades on both BSE and NSE platforms. The transaction, conducted through the open market, saw the divestment of 12,867,000 Equity shares, representing 2.27% of the total diluted share/voting capital of MSP Steel & Power Ltd.The sale marked a reduction in Swagat Trexim's holding. Prior to this disposal, Swagat Trexim held 3,39,16,849 equity shares or 5.98% of the company’s stock. Following the open market sale, the stake held by the entity reduced to 2,10,49,849 shares, equivalent to 3.71% of the total diluted share/voting capital.The entire transaction...

Elecon Engineering Company Limited Receives Certificate of Incorporation for Mexican Subsidiary Elecon Engineering Company Limited has announced the successful receipt of the Certificate of Incorporation from the Public Registry of Commerce, Mexico, concerning its wholly owned subsidiary, Grupo Radicon SA de CV. The completion of this process marks a key milestone in the corporate structure related to Elecon's global operations.Grupo Radicon SA de CV, which is based in Mexico, operates as a subsidiary under the ownership structure governed by Elecon Singapore Pte. Ltd., another wholly owned subsidiary of Elecon Engineering Company Limited.The Company confirmed that it received the official Certificate of Incorporation from the...

SJVN Appoints Experienced Civil Engineer as Director (Projects) SJVN Limited has appointed Shri Rajesh Kumar Chandel as a Director (Projects) on its Board, effective June 11, 2026. The appointment brings extensive technical, managerial, and leadership experience in large-scale hydroelectric project development to the company.Shri Chandel is a Civil Engineer with over 32 years of service in the power sector. He joined SJVN Limited in May 1994. Throughout his distinguished career, he has been involved in the planning, construction, project management, and monitoring of various hydroelectric projects across India, Nepal, and Bhutan.His early contributions at SJVN included working on the Head Race Tunnel of the 1500 MW Nathpa Jhakri...

Bajaj Housing Finance Ltd Allots Rs 2,034.6788 Crore in Secured NCDs Through Private Placement Bajaj Housing Finance Ltd has completed the private placement of Secured Redeemable Non-Convertible Debentures (NCDs). The allotment was finalized on June 12, 2026, totaling an issue size of Rs 2,034.6788 crore.The company's Debenture Allotment Committee allotted 2,00,000 NCDs, each with a face value of Rs 1,00,000. The placement involved the issuance of these debentures on a private basis. These instruments are scheduled for listing on the Wholesale Debt Market Segment of BSE Limited.Key details regarding the allotment and tenure of the instrument are summarized below:ParticularsDetailsIssue SizeRs 2,034.6788 croreAllotment...

Takyon Networks Ltd Announces Schedule Analyst Meet at Samruddhi Season 3 - NavBharat ka Caravan Takyon Networks Ltd has announced participation in a scheduled Analyst and Institutional Investors meet titled "Samruddhi Season 3 - NavBharat ka Caravan." The event is set to take place on June 19, 2026.The meeting, organized by Hem Securities Ltd., will be conducted virtually.Key details regarding the Investor Meet are as follows:DateTime of MeetingEventOrganised byModeJune 19, 202611:00 A.MSamruddhi Season 3 - NavBharat ka CaravanHem Securities Ltd.VirtualThe company confirmed that no unpublished price sensitive information will be shared or discussed during the investor meeting.Stock Price Movement As of 14:42, shares of...

Bajaj Finance Allots 4,50,000 NCDs worth Rs. 4,505.15 Crore via Private Placement Bajaj Finance Limited has completed a private placement allotment of Secured Redeemable NonConvertible Debentures (NCDs). The company allotted 4,50,000 NCDs at a face value of Rs. 1 Lakh each, aggregating to Rs. 4,505.15 Crore.The debenture allotment was finalized by the Debenture Allotment Committee of the Company on June 12, 2026. The transaction involves two distinct options for the issuance: Option I and Option II. These NCDs are proposed to be listed on the Wholesale Debt Market Segment of BSE Limited.Key details regarding both series of debentures are presented below:FeatureOption I (Fresh Issue)Option II (Reissue)Size of Issue2,00,000...

Promoter Group Acquires Shares in GRM Overseas Ltd The promoter group of GRM Overseas Limited has increased its holding in the company through an open market acquisition. Mr. Atul Garg, a key figure within the promoter group, acquired 238,281 equity shares of GRM Overseas Limited on June 11, 2026.Mr. Atul Garg executed the acquisition as part of a group effort involving several individuals and affiliated parties, including Mrs. Mamta Garg, Hukam Chand Garg, and Mr. Nipun Jain, whose total shareholding increased following the transaction.The shares acquired during the open market purchase carry a face value of Rs. 2/- per share. This acquisition resulted in an increase in the promoter group's stake while the company maintains its...

Process Reform Overhaul: GST Council Set to Fix Credit Blockages and Tackle Inverted Duty Crises The next meeting of the GST Council is anticipated to pivot heavily toward implementing process reforms, moving beyond the successful simplification of tax slabs. Government sources indicate that the focus will be on easing compliance burdens for businesses, relaxing registration processes, reducing litigation, and addressing critical issues related to inverted duty structures (IDS). The Council meeting is expected in late July or August.Tackling Inverted Duty Structures Across Key Industries A major item on the agenda is resolving the systemic issues posed by inverted duty structure (IDS) across various manufacturing sectors. IDS occurs...

Finolex Cables Limited announces cessation of Company Secretary and Compliance Officer Finolex Cables Limited has announced the change in its Key Managerial Personnel following the resignation of Mr. Siddhesh Mandke, who held the roles of Company Secretary and Compliance Officer. The company confirmed that Mr. Mandke was relieved from his duties effective June 11, 2026.The transition follows the acceptance of the resignation tendered by Mr. Mandke on May 12, 2026. This change in personnel is attributed to personal reasons.Finolex Cables Limited confirmed that the Key Managerial Personnel had been serving in these dual capacities within the organization. The details surrounding this departure have been made public as part of...

Zero-Calorie Surge for Coca-Cola Bottler SLMG: Diet Coke Demand Sparks Big Bets on Exponential Growth Zero-Sugar Category Set for Major Revenue Climb at SLMG SLMG Beverages, the primary bottler for Coca-Cola in parts of India, is bullish on its zero-calorie product portfolio after experiencing a massive spike in demand for Diet Coke. The company confirmed that this growing trend of consumers favoring low and no-sugar drinks is set to significantly boost their sales within the beverage segment.Paritosh Ladhani, joint managing director at SLMG, stated that he expects the zero-sugar category to contribute approximately 5 to 6 percent of total sales by FY27. This represents a considerable jump from the current contribution of 3 to 4...