Markets

Tax Proceedings Update: Skipper Limited Faces Appeal Over Resolved GST Demand Skipper Limited has reported a development concerning ongoing tax proceedings related to unbilled revenue for prior financial years. The company is currently addressing an appeal filed against a previous order issued by the Additional Commissioner of CGST & Cx, Kolkata South Commissionerate.Earlier, the company had faced allegations regarding differences in unbilled revenue pertaining to FY 2017-18 and FY 2018-19. The original proposed tax demand associated with these alleged differences amounted to ₹10,21,17,234. Subsequent action resulted in the dropping of this specific tax demand through Order No. 09/ADC/CGST&CX/South/Kol/25-26 dated December 1...

Government-to-Government Partnership Drives Global Placement as 14 Skilled Indians Depart for Mauritius Government Mobility Boosts Global Placement of Indian Talent A significant step towards structuring global workforce migration has been marked as Minister of State (Independent Charge) Shri Jayant Chaudhary flagged off a contingent of 14 skilled Indian workers bound for Mauritius. The departure represents the effective implementation of the India-Mauritius Government-to-Government (G2G) Labour Mobility Framework.This initiative strengthens bilateral cooperation between the two nations and aligns with India's larger agenda for skilled international workforce mobility. These workers, who represent a diverse cross section of Indian...

RBI Unveils Critical Money Supply Data: Market Awaits Key Indicators from Fortnight Ending May 31, 2026 The Reserve Bank of India (RBI) has released a comprehensive report detailing the movement of Reserve Money and Money Supply for the fortnight ending May 31, 2026. This release provides crucial insights into the liquidity status and financial flow within the Indian economy during that period. The data is highly anticipated by economists and investors seeking to gauge current monetary conditions.The RBI’s commitment to transparent reporting underscores its role in monitoring the stability of the domestic financial system. This particular press release marks a key deliverable from the Central Bank, offering clarity on how money supply...

Rupee Gains as Geopolitical Tensions Deepen amid Cautious Rally and Oil Price Dip The Indian rupee showed signs of stabilization on Wednesday, appreciating by 14 paise to close at 95.27 (provisional) against the US dollar. This movement came despite persistent global concerns surrounding escalating tensions between the United States and Iran. The appreciation was attributed partly to anticipated intervention from the Reserve Bank of India (RBI) aimed at mitigating excessive volatility.Forex traders noted that the rupee managed to recover some ground after initial losses, settling on a positive note following retreats in both Brent crude oil prices and the US dollar index. The domestic currency also benefited from the RBI's likely...

Voler Car Limited Declared Highest Bidder for Blue Smart Mobility Limited in CIRP Auction Voler Car Limited has been declared the Highest Bidder (H1) in the auction process for the proposed acquisition of Blue Smart Mobility Limited, which is undergoing Corporate Insolvency Resolution Process (CIRP). The resolution was completed on June 10, 2026.The acquisition targets Blue Smart Mobility Limited, an entity operating in the mobility and transportation sector that is presently under CIRP as mandated by the Insolvency and Bankruptcy Code, 2016. Voler Car Limited participated in the bidding process conducted for the company’s acquisition.The status of the transaction is subject to several conditions. The acquisition must be finalized...

Bharat Wire Ropes Receives Notice from MPCB Regarding Chalisgaon Manufacturing Unit Bharat Wire Ropes Limited has received a notice from the Maharashtra Pollution Control Board (MPCB) concerning its manufacturing facility located in Chalisgaon, Maharashtra. The notice pertains to procedural and regulatory compliances under environmental acts and directs the stoppage of activities until further instructions are issued.The communication was received on June 9, 2026, outlining observations related to pollution control systems and compliance monitoring requirements at the unit. The notice is issued under Section 33A of the Water (Prevention & Control of Pollution) Act, 1974, and Section 31A of the Air (Prevention & Control of Pollution)...

Univastu India and Bootes Infrastructure Win Landmark Land Monetization Project in Aligarh Univastu India Limited has formed a Joint Venture with Bootes Infrastructure Limited to undertake a significant land monetization project in Uttar Pradesh. Univastu India Limited holds a 49% stake in this Joint Venture, which secured a Letter of Award from the Aligarh Development Authority, Government of Uttar Pradesh (ADA).The awarded contract pertains to the development of Prime ADA's Land Near Soot Mill Circle, Baroula Jafrabad, Aligarh. The project will be executed under a Public Private Partnership (PPP) Model utilizing a Joint Development Agreement (JDA) on a Revenue-Sharing Basis.The project scope includes approximately 25,091 Square...

SEBI Launches Aggressive Recovery Drive: Defaulter Faced with Attachment and Arrest Over Massive Penalty Dues The Securities and Exchange Board of India (SEBI) has issued a stringent Notice of Demand against USHA AWASTHI, initiating formal recovery proceedings related to default obligations arising from the matter of ISO at BSE. The regulatory action targets the defaulter, mandating repayment of a substantial sum within a strict 15-day window, highlighting SEBI's robust commitment to enforcing market compliance and financial accountability.Detailed Financial Obligation and Penalty Assessment SEBI has certified that USHA AWASTHI owes a total amount of ₹5,31,000.00, along with accrued interest, costs, and expenses associated with the...

UK Subsidiary Dissolved: Reliance Communications Reports on Status Change of Foreign Entity Reliance Communications Limited has confirmed the dissolution of its foreign step-down subsidiary, Reliance Communications (U.K.) Limited, which was officially registered as dissolved by Companies House in the United Kingdom.The action details relate to the status change of Reliance Communications (U.K.) Limited, a UK entity and foreign step-down subsidiary of RCOM. The dissolution occurred with effect from June 9, 2026, according to records maintained by the official registrar of companies in the United Kingdom.In relation to this event, Reliance Communications Limited stated that it is currently examining the implications and necessary...

K S Oils Limited's operations remain unaffected following dismissal of injunction in trademark dispute K S Oils Limited has received a ruling from the Rohini District Court in New Delhi that dismisses an earlier injunction order concerning the use of the 'Kalash' trademark. The court disposed of the application related to the trademark through its order dated June 09, 2026.The dismissal follows the previous order granted by the Hon'ble District Judge (Commercial Court) Rohini, who had initially imposed an injunction against K S Oils Limited.The matter pertains to the usage of the 'Kalash' trademark, which was previously approved by the NCLT on February 03, 2025. The decision rendered by the District Court favors K S Oils Limited.A...

Microfinance Sector Rallies as Government Extends Key Guarantee Scheme and Raises Loan Limits to ₹1000 Crores Government Extends CGSMFI-2.0 Validity and Boosts NBFC Lending Capacity The Government of India has approved a significant extension for the Credit Guarantee Scheme for Microfinance Institutions-2.0 (CGSMFI-2.0). The scheme's validity is extended until August 31, 2026, or when guarantees totaling ₹20,000 crore are issued, whichever event occurs earlier.This move aims to significantly strengthen the microfinance sector by providing sustained credit guarantee support. The scheme involves the National Credit Guarantee Trustee Company Limited (NCGTC) and is designed to facilitate increased lending flow into MFIs and Non-Banking...

Binny Ltd. Schedules Board Meeting to Discuss Q4 2025 Unaudited Financial Results Binny Ltd. has convened a board meeting to review and approve its performance for the final quarter of the fiscal year 2025. The meeting is scheduled for Saturday, June 20, 2026.The purpose of the corporate meeting is specifically to consider, approve, and formally take on record the Unaudited Financial Results that relate to the quarter ending December 31, 2025. This results review marks a key operational milestone as the company assesses its financial standing for the year.Stock Price Movement Binny Ltd shares settled on Monday at ₹145.50, edging higher after closing up 0.34%. The stock traded within an intraday range, achieving a high of ₹152.25 but...

$1.75 Trillion Valuation: Why SpaceX Blockbuster IPO Is Squeezing Capital from Cryptocurrency Markets The anticipated initial public offering (IPO) of SpaceX, set at a massive $75 billion, is poised to create headwinds for the cryptocurrency market. This colossal offering is attracting retail investors who are prioritizing high-risk AI stocks over digital assets.Elon Musk's rocket and satellite communications firm, which has integrated with his AI startup xAI, is expected to reach a valuation of around $1.75 trillion. The IPO aims to leverage this immense potential, signaling the company’s evolution from space travel into a major AI enterprise builder.A notable aspect of the IPO involves setting aside up to 30%, or $22.5 billion, of...

ICC Pledges Massive ₹1 Lakh Crore Investment to Boost West Bengal Economy as Industry Confidence Surges ICC Confirms ₹1 Lakh Crore Investment Drive for West Bengal The Indian Chamber of Commerce (ICC) delegation has pledged to mobilize investments worth ₹1 lakh crore in West Bengal through its member companies. This commitment comes after the chamber's meeting with Union Minister Dr. Jitendra Singh in New Delhi. The proposed investment signifies strong industry confidence in the state’s rapidly growing economic potential.The ICC delegation, led by President Brij Bhushan Aggarwal, apprised the Minister of State for PMO and other departments about these initiatives. They emphasized their intent to collaborate closely with both the Union...

Brent Crude Surges Amid US-Iran Escalation; Wall Street Futures Plunge Ahead of CPI Data Wall Street futures are signaling a weak opening for US markets as renewed geopolitical tensions flare up between the United States and Iran. Futures across major indices saw declines, driven primarily by the volatility in global energy prices. Investors remain cautious, particularly ahead of critical May consumer price index (CPI) data expected to influence interest rate outlooks.Global Futures React to Heightened US-Iran Tensions Futures linked to the Nasdaq 100 were down 1.62 percent at around 5:35 p.m. IST, while S&P 500 futures shed 1.06 percent. The Dow Jones Industrial Average futures also registered a fall of 0.89 percent. This decline...

Tripura Delegation Journeys Through Haryana, Strengthening Ek Bharat Shreshtha Bharat Spirit through Youth Exchange Cultural Immersion and Governance Exposure in Haryana The Department of Higher Education (DoHE) is actively promoting national integration among youth through the Yuva Sangam Phase-VI programme. This initiative, operating under the umbrella of Ek Bharat Shreshtha Bharat (EBSB), facilitates profound cultural exchange and experiential learning for participants from diverse regions of India.A delegation from Tripura, led by the National Institute of Technology, Agartala, was hosted by the National Institute of Technology, Kurukshetra as part of this prestigious programme. The delegates gained invaluable insights into...

Optiemus Infracom Ltd Enhances Corporate Guarantee to CSB Bank for Subsidiary's Credit Facility Optiemus Infracom Ltd has approved an enhancement of the corporate guarantee provided to CSB Bank Limited, covering a credit facility availed by its Wholly Owned Subsidiary, Optiemus Electronics Limited (OEL). The Operations and Administration Committee of the Board of Directors sanctioned this increase from Rs 35.50 Crores to Rs 60 Crores.The enhancement provides security for the total credit facility amounting to Rs 60 Crores that OEL has availed or is set to avail through CSB Bank Limited.This transaction, which secures the financing of Optiemus Electronics Limited (OEL), a Wholly Owned Subsidiary of Optiemus Infracom Ltd, was executed...

Ministry Launches Exclusive RISA Store to Elevate Tribal Textiles and Catalyze Artisan Empowerment The Ministry of Tribal Affairs, through the Tribal Cooperative Marketing Development Federation of India (TRIFED), has unveiled RISA - Timeless Tribal. This dedicated premium brand is set to revolutionize the market presence of tribal textiles, embroideries, and handicrafts across the nation and internationally. The exclusive RISA Store was formally inaugurated at Gallery No. 2, Rajiv Gandhi Handicrafts Bhawan in Connaught Place, New Delhi.This initiative directly aligns with Prime Minister Shri Narendra Modi’s vision for Viksit Bharat, aiming to ensure inclusive growth by economically empowering tribal communities while fiercely...

GS Auto International Closes Rights Issue Subscription Period for Equity Shares GS Auto International Ltd has confirmed the closure of the subscription period for its Rights Issue, which concluded on Wednesday, June 10, 2026. The offering involved up to 2,90,29,160 partly paid-up Equity Shares of the company.The Rights Issue was conducted by the Company, providing existing shareholders with an opportunity to subscribe through a rights basis. The terms of the issue stated that subscribers could purchase the shares at an Issue Price of Rs. 10.00/- each (Rupees Ten Only). These shares are partly paid-up and carry a face value of Rs. 5.00/- per share.The offering was conducted in the ratio of two Rights Equity Shares for every one fully...

GIFT City’s Fintech Program Opens Applications: Startups Must Seize Chance to Scale in Global Finance Hub GIFT City has launched its second cohort of the highly anticipated Fintech Residential Programme, opening a crucial window for early-stage startups aiming to revolutionize financial technology. The initiative aims to bolster India's burgeoning startup ecosystem by providing intensive support within its specialized International Financial Services Centre (IFSC). Applications for participation in this structured program are open and have a firm deadline set for July 05.Details of the Fintech Residential Programme The six-month residential initiative operates through the GIFT International Fintech Innovation Hub. The programme is...