Markets

Sensex Plunges Skyward as US-Iran Peace Deal Signals Sanctions Lift and Naval Blockade End Indian equity markets experienced a dramatic surge on June 12 following reports concerning a potential peace accord between Washington and Tehran. The accelerated rally was directly attributed to the announcement of a proposed memorandum of understanding, sparking significant momentum across major indices.Market Surges Amid US-Iran Peace Deal Report The sharp movement in the market was triggered after Iranian state-linked news agency Mehr reported on the proposed agreement. This deal reportedly includes several critical components aimed at de-escalation and normalization between the two nations.Key elements of the memorandum include the...

Saboo Sodium Chloro Clarifies Audit Opinion for FY26 Following Clerical Errors in Filing Saboo Sodium Chloro Ltd has issued a clarification regarding its Audited Financial Results for the financial year ended March 31, 2026. The company detailed that the results, initially submitted on May 30, 2026, required subsequent re-filing following clerical errors identified in the original submission.The Statutory Auditors of Saboo Sodium Chloro Ltd have confirmed an Unmodified Opinion on the financial results for the period ended March 31, 2026. While the initial filing was submitted in timely manner, a review revealed that the word "Qualified" had been mistakenly included in one document header regarding the audit opinion uploaded to the...

Shivom Investment & Consultancy Ltd Approves Financial Results and Announces AGM Following Corporate Restructuring Shivom Investment & Consultancy Limited has approved its Audited Financial Statements for the financial year ended March 31, 2024, alongside setting the date for the ensuing Annual General Meeting (AGM). The results reflect significant operational challenges as the company continues through its Corporate Insolvency Resolution Process (CIRP), following the surrender of its NBFC registration.The Board meeting reviewed and approved the financial statements for the fourth quarter and the full financial year ended March 31, 2024. The management confirmed that the AGM is scheduled to adopt these results.Financial Performance...

Artson Ltd Receives Purchase Order Worth INR 5.4 Crore from Deepak Chem Tech Limited Artson Ltd has secured a significant business order, receiving a purchase contract worth Rs 5,39,87,000 from Deepak Chem Tech Limited, which is part of the Deepak Group. The order pertains to the manufacturing and supply of specialized equipment for a major project at DCTL Dahej.The domestic order involves supplying materials under an item rate agreement. Deepak Chem Tech Limited has awarded the contract to Artson Ltd for the production and delivery of 15 vessels, tanks, and drums designated for the D3 Project at DCTL Dahej. The total value of this commitment stands at INR 5,39,87,000, excluding taxes.The contractual timeline for execution is...

MCD and CSIR-CRRI Ignite Road Revolution with Eco-Friendly Pothole Repair Technology A strategic partnership has been forged between the Municipal Corporation of Delhi (MCD) and the Central Road Research Institute (CSIR-CRRI) aimed at fundamentally transforming urban road infrastructure. On 10 June 2026, a Memorandum of Agreement (MoA) was signed to establish a collaborative framework for the structural evaluation of roads, construction quality supervision, and capacity building for MCD engineers.Crucially, the organizations also executed a Bi-partite Technology Management Agreement focused on implementing ECOFIX, an innovative instant pothole repair technology developed by CSIR-CRRI. This initiative is set to significantly enhance...

Vivanta Industries Signs Collaboration Agreement with Qness Pharmaceuticals for Pharmaceutical Product Manufacturing and Supply Vivanta Industries Limited has entered into a business collaboration agreement with Qness Pharmaceuticals, a proprietorship concern, concerning the manufacture, supply, branding, and marketing of pharmaceutical and allied products. The collaboration is domestic in scope and is set to strengthen Vivanta's presence in the pharmaceutical sector.The agreements outline a framework for collaboration covering the entire product lifecycle, from manufacturing and procurement to branding, supply, and distribution activities.Key details regarding this strategic arrangement are summarized below:ParticularsDetails...

MTAR Technologies Clarifies Market Rumors; Management Confirms Healthy Order Book and Customer Relations MTAR Technologies Ltd has addressed market reports regarding potential order cancellations and business reductions, confirming that its operational status remains strong and customer relations are stable. The company stated that management responded to media speculation by asserting that it has received no communication from any customers indicating a reduction, cancellation, deferment, or pause in committed orders.In response to reports published on social media and various media sources concerning order cancellations, the Managing Director of MTAR Technologies Ltd clarified that these accounts do not stem from any official...

Promoter Acquires 1,50,000 Shares in Sayaji Hotels (Indore) Ltd on Market Zuber Yusuf Dhanani acquired a stake of 4.92% in Sayaji Hotels (Indore) Limited by purchasing shares on the open market, according to transaction details released on June 11, 2026.The acquisition was conducted by Zuber Yusuf Dhanani, who is identified as a Promoter of the company. The purchase of shares constituted an increase in promoter holding in Sayaji Hotels (Indore) Limited.Key details regarding the share acquisition are summarized below:ParameterDetailTarget CompanySAYAJIHOTELS (INDORE)LIMITEDAcquirerZUBERYUSUFDHANANIPromoter StatusPromoterAcquisition ModeOn MarketDate of AcquisitionJune 11, 2026The acquisition details show that...

Services Export Engine Under Threat: Morgan Stanley Warns India Must Pivot to Manufacturing Amid AI Disruption Artificial intelligence (AI) is posing a significant structural challenge to India's traditional reliance on services exports, as highlighted by a new report from Morgan Stanley. The brokerage emphasizes that boosting the manufacturing sector is now critically important for ensuring sustained economic stability and employment generation in the long run.Morgan Stanley’s analysis warns that AI-driven advancements could negatively impact the growth trajectory of India’s IT services exports. Currently at approximately $321 billion, services exports contribute 7.9 percent of GDP and remain a vital pillar supporting the country's...

Jail Sentence STAYED! Byju Raveendran Buys Time as Singapore High Court Halts Contempt Order The battle for Byju Raveendran’s freedom saw a crucial twist in the Singapore court proceedings. The Singapore High Court granted a stay on June 10, temporarily relieving the entrepreneur from the six-month jail sentence that had been imposed in a civil contempt case. This development grants temporary relief as Raveendran continues to challenge the original ruling through an appeal process.Stay Granted on Contempt Finding Against Byju Founder The court's previous order stemmed from allegations concerning asset disclosures, which were due dating back to April 2024. The High Court had originally sentenced Raveendran to six months in jail after...

Kirloskar Ferrous Industries Completes Merger of Oliver Engineering and Adicca Energy Solutions Kirloskar Ferrous Industries Limited (KFIL) announced the completion of a major Scheme of Arrangement, absorbing two subsidiaries, Oliver Engineering Private Limited (OEPL) and Adicca Energy Solutions Private Limited (AESPL). The merger was finalized after receiving an order from the National Company Law Tribunal (NCLT), Mumbai Bench.The scheme stipulates that both Transferor Companies—Oliver Engineering Private Limited and Adicca Energy Solutions Private Limited—have merged into Kirloskar Ferrous Industries Limited, which serves as the Transferee Company. As of the effective date of the merger, these two companies have been dissolved...

Kirloskar Ferrous Industries Ltd Allots Shares Under Employee Scheme; Recommends 60% Final Dividend for FY2025-26 Kirloskar Ferrous Industries Ltd announced significant outcomes from its Board of Directors meeting held on June 12, 2026. The board approved the allotment of equity shares pursuant to the KFIL Employee Stock Option Schemes and recommended a final dividend for the financial year 2025-2026.The company utilized stock options under the 'KFIL Employee Stock Option Schemes,' allotting 17,841 equity shares at an exercise price of ₹5 per share. This allotment resulted in an increase in the issued, subscribed, and paid-up share capital of the Company to ₹82,49,61,920, comprising a total of 16,49,92,384 equity shares of ₹5 each...

Ritesh International Ltd Deposits Rs 51 Lakh as Advance Tax Installment Ritesh International Ltd has made an installment payment towards its Advance Tax liability. The company deposited a total amount of Rs 51,00,000/- for this purpose.The transaction reflects the corporation's fulfillment of tax obligations regarding advance tax payments.Stock Price Movement As of 13:38, Ritesh International Ltd shares are edging higher by 3.48%, trading currently at ₹50.00. The equity has seen significant movement today, having ranged between a low of ₹46.00 and an intraday high of ₹50.00.

Borosil Renewables Ltd Announces Attendance at PhillipCapital PCG Investor Conference in Mumbai Representatives from Borosil Renewables Ltd will attend the PhillipCapital PCG Investor Conference, titled "India Inc. Unplugged - Conversations that Create Conviction." The company representatives are scheduled to participate in the event held in Mumbai.The conference is set for Tuesday, June 23, 2026, starting at 10:00 a.m. IST. The meeting will take place at the Hotel Grand Hyatt in Mumbai and attendance will be in-person.During the conference, interactions will include both individual and group meetings with invited participants. The audience for these sessions is comprised of investors.Key details of the scheduled investor event...

SSMD Agrotech India Ltd Approves Annual Reports and Directors at Board Meeting SSMD Agrotech India Ltd, formerly known as SSMD Agrotech India Pvt. Ltd., concluded its Third Board Meeting for Fiscal Year 2026-27 on June 12, 2026. The meeting included the approval of the company’s Annual Report and strategic decisions regarding key directorships and forthcoming general meetings.The Board reviewed and adopted several critical matters concerning financial performance and governance. These approvals included the Monitoring Agency Report for the quarter ending March 31, 2026, relating to the utilization of IPO proceeds. Additionally, the company approved the Annual Report for the Financial Year ended March 31, 2026, along with the Board's...

Zepto's UDRHP Shows Explosive Scale as Low Cash Runway Forces Crucial IPO Hunt Zepto has released its updated draft red herring prospectus (UDRHP), offering investors a detailed look into its rapid growth trajectory within the quick-commerce sector. The filing reveals operational scaling, with FY26 revenue from operations expected to cross Rs 22,600 crore. However, while the company demonstrates significant scale in orders and revenue, a critical review of the documents highlights the absence of core industry metrics like contribution margin, complicating direct comparisons with key listed rivals Blinkit and Swiggy Instamart.Operational Growth Outpaces User Engagement The prospectus offers robust data on order growth, showcasing the...

Innovision Limited Regularizes Appointment of Aditya Jha as Independent Director Innovision Limited has approved the regularisation of the appointment of Mr. Aditya Jha as a Non-Executive and Independent Director of the company, following the resolution passed at its recent Board meeting. This appointment is subject to shareholder approval in the upcoming Extraordinary General Meeting (EGM).The board members considered and approved this matter, which grants Mr. Aditya Jha the role for a term of five consecutive years. His tenure began on April 10, 2026, with the mandate extending through April 9, 2031. The appointment is contingent upon obtaining shareholder approval at the EGM scheduled for July 8, 2026.Mr. Jha was identified as a...

Axel Polymers Ltd Appoints Yogesh Keshariya as Non-Executive Independent Director Axel Polymers Ltd has appointed Mr. Yogesh Keshariya as a Non-Executive Independent Director. The appointment, approved by the Board of Directors during its meeting held on June 12, 2026, makes him an Additional Director with immediate effect.Mr. Keshariya was appointed for a term of three years. His tenure is conditional upon receiving shareholder approval at the Company's next General Meeting or within three months of his appointment, whichever comes earlier. He has been designated as a Non-Executive Independent Director.The Board meeting, which concluded on June 12, 2026, confirmed the details regarding Mr. Keshariya's professional background and...

Kirloskar Ferrous Industries Ltd Reports Post-Merger Results for FY26; Highlights Include Revenue, Segment Performance Kirloskar Ferrous Industries Limited has released its audited consolidated financial results for the fiscal year ended March 31, 2026. The results reflect the integration of Oliver Engineering Private Limited and Adicca Energy Solutions Private Limited following their absorption into the company, with effect from April 1, 2025.The comprehensive results include a detailed view of the company's financial standing, operational performance across its business segments, and strategic movements within its international portfolio.Consolidated Financial Performance (FY ended March 31, 2026) For the year ending March 31...

Andaman Basin Set for Massive Geopolitical Surge as Oil Auctions and Thailand Land Bridge Elevate Strategic Value The Andaman and Nicobar Islands are poised for a dramatic elevation in strategic importance following the prospect of major offshore oil block auctions and the finalization of Thailand's ambitious 'Land Bridge' project, according to Lt Governor Admiral DK Joshi (Retd). These converging developments promise to profoundly reshape the region's geopolitical standing.Joshi stated that the Open Acreage Licensing Policy (OALP) Bid Round X, which includes Andaman basin blocks, is scheduled for June 19. This event represents a pivotal moment, fueled by high expectations regarding potential oil discoveries in the area.Offshore Oil...