Markets

Smiths & Founders Ltd Board Approves Merger Exploration of SKF Elixer India Private Limited The Board of Directors of Smiths & Founders (India) Limited approved the proposal to explore and undertake the merger of SKF Elixer India Private Limited with the company. This decision followed a meeting held on June 10, 2026, at the Company's Registered Office.During the board session, which commenced at 02:30 pm and concluded at 03:00 pm, the company formally considered and sanctioned the merger proposal. The move is subject to several critical prerequisites, including successful completion of due diligence and valuation processes.The proposed merger will proceed only after the finalization of the Scheme of Merger and upon receiving all...

KRBL Limited Launches India Gate Poha as New Addition to Kitchen Staples Portfolio KRBL Limited has marked a new entry into the everyday kitchen staples category with the launch of its latest product: India Gate Poha. The introduction of this item, under the company's flagship brand 'India Gate', highlights the expanding scope of the company's offerings in the food market.The launch details for the new product have been formally announced by KRBL Limited. India Gate Poha is positioned as a domestic staple within the range of kitchen essentials.Key details regarding the newly launched product include:ParticularsDetailsName of the productIndia Gate PohaDate of launchJune 10, 2026Category of the productStaples - Thick Poha...

Dhruv Consultancy Services Ltd Secures Rs 19.34 Million Project Management Contract for Railway Line Construction Dhruv Consultancy Services Limited has secured a contract to provide project management services for the construction of a New Railway BG Electrified Line between Rowghat and Jagdalpur, awarded by the South East Central Railway (SECR).The contract was awarded to Dhruv Consultancy Services Ltd in conjunction with Arkitechno Consultants India Private Limited. The company received the Letter of Acceptance (LOA) from CAO/C, SECR, Bilaspur on June 10, 2026.The project involves providing Authority Engineer services for a 140 Km railway line construction. The contract value stands at Rs 19,34,31,706.14, which is inclusive of...

SEBI Hits Stock Manipulator with Massive Demand as Quasar India Sharecase Signals Regulatory Crackdown The Securities and Exchange Board of India (SEBI) has issued a serious Notice of Demand against Mr. Mrugesh Natwarlal Ruparel in connection with alleged price and volume manipulation involving Quasar India Limited stock. The formal notice, dated June 10, 2026, details the financial penalty levied by the regulator following an adjudication order, underscoring SEBI's persistent stance against market malpractice.Details of the Notice of Demand The demand concerns Mr. Mrugesh Natwarlal Ruparel (PAN: AITPR2718M) and pertains to fraudulent activity within the trading of Quasar India Limited scrip. The total amount demanded by SEBI amounts...

Massive Regulatory Action: SEBI Attaches All Accounts of Alternative Dealers Following Illiquid Stock Options Default In a significant display of market discipline, the Securities and Exchange Board of India (SEBI) has issued a formal notice attaching all accounts belonging to Alternative Dealers Private Limited. The action is related to outstanding dues concerning illiquid stock options, underscoring SEBI's commitment to enforcing regulatory compliance among financial entities operating within Indian markets.The recovery proceeding, documented under Certificate No. 9072 of 2026 and Notice Attachment Proceeding No. 15451 of 2026, was issued by the Recovery Officer in the Eastern Regional Office. The notice targets Alternative Dealers...

Foods & Inns Ltd Accepts CFO Resignation: Anand Krishnan to be Relieved Effective June 30, 2026 Foods & Inns Ltd has accepted the resignation of Mr. Anand Krishnan from his role as Chief Financial Officer (CFO) of the company. The resignation was tendered by Mr. Krishnan due to personal and professional reasons. The management confirmed that Mr. Anand Krishnan will be relieved from his duties effective close of business hours on June 30, 2026.The Board and Management expressed their sincere appreciation for Mr. Krishnan’s commitment and contributions throughout his tenure at the company. Foods & Inns Ltd recognized his role in several significant areas during his time with the organization.During his tenure, the Company witnessed...

Faze Three Limited Confirms Resignation of Manan Shah as Independent Director Faze Three Limited has confirmed that Mr. Manan Shah, an Independent Director on its Board, has resigned from his position with effect from June 10, 2026. The departure comes due to personal reasons, the company announced.Following the resignation, Mr. Shah will also cease to be a member of several key committees within Faze Three Limited. These roles include the Audit Committee, Nomination & Remuneration Committee, Stakeholders Relationship Committee, and Corporate Social Responsibility Committee.Mr. Manan Shah’s cessation from the Board includes all associated responsibilities as an Independent Director. He confirmed that there are no other material...

Soma Textiles & Industries Ltd. to Hold Board Meeting to Recommend Final Dividend for FY 2025-26 Soma Textiles & Industries Ltd. has scheduled its Board of Directors meeting to consider and recommend the Final Dividend for the financial year ended March 31, 2026. The meeting is set for Friday, June 12, 2026.The company's Board will convene via video conferencing (VC) or other audio visual means (OAVM). Key agenda items for the meeting include considering and recommending the Final Dividend on the Equity Shares of the Company, which is slated for approval by members at the subsequent 88th Annual General Meeting. The Board will also cover other routine matters.In addition to the dividend recommendation, the company provided an update...

BCPL Railway Infrastructure Bags Rs 130.95 Million Contract for OHE Work under South East Central Railway BCPL Railway Infrastructure Limited has secured a contract valued at Rs 130.95 million from the South East Central Railway in Bilaspur division. The order pertains to Balance OHE work of Electrification 25KV, 50Hz single phase AC related to the remodelling and modification of the Bilaspur Yard.The project, awarded by the South East Central Railway, is expected to be completed within a timeframe of 12 months from the date of issuing the Letter of Acceptance. The contract involves specialized work including special design for OHE (Overhead Equipment) work, removal of OHE structures infringement, and simplification of OHE sectioning...

SEBI Slams Market Manipulation: Notice of Demand Issued Against Individual Over Quasar India Stock Price Abuse In a decisive action against market misconduct, the Securities and Exchange Board of India (SEBI) has issued a formal Notice of Demand dated June 10, 2026. The notice targets Mr. Arpit Piyushbhai Shah regarding allegations of price and volume manipulation involving the scrip of Quasar India Limited. This regulatory action signals SEBI's commitment to maintaining market integrity and holding individuals accountable for illicit trading practices in Indian equities.The demand concerns proceedings conducted under Section 28A of the Securities and Exchange Board of India Act, 1992, read with Section 222 of the Income Tax Act...

Promoter Acquires Shares in Dhanalaxmi Roto Spinners Ltd. via Open Market Srinidhi Inani, identified as a Key Managerial Personnel (KMP) and part of the Promoter Group, has increased her stake in Dhanalaxmi Roto Spinners Ltd. through an acquisition executed on the open market. The transaction details reflect Srinidhi Inani purchasing equity shares from the company.The increase in holding by Mrs. Inani was recorded with the intimation date being 08/06/2026. During this transaction, she acquired 20,000 Equity Shares of Dhanalaxmi Roto Spinners Ltd., completing a buy transaction on 05/06/2026.Prior to the acquisition, Srinidhi Inani held 54,488 shares of the company, which accounted for 0.69% of the total shareholding. Following the...

Sensex, Nifty End Flat as Profit Booking and Metal Stocks Drive Broad Selling Pressure in Equity Markets Equity market benchmarks saw a day defined by volatility and profit booking, with both the Sensex and Nifty failing to consolidate their intraday highs. Despite brief periods of strong momentum, heavy selling pressure across multiple sectors dragged the indices close to their respective daily lows at the session's close on June 10.The market opened subdued, yet gradually gained ground during trading hours, with the Nifty briefly surpassing the 23,400 level intraday. However, this gains were largely erased in the final hour of trade as investors booked profits across various positions.Major Indices and Sectoral Performance Review...

India Forges Strategic Independence: TDB Backs TIEA to Forge High-Reliability Connectors for Defence and Space Indigenous Technology Bolsters Aerospace and Defence Manufacturing The Government of India, through the Technology Development Board (TDB) of the Department of Science & Technology (DST), has extended crucial support to TIEA Connectors Pvt. Ltd., based in Bengaluru. This initiative aims at the commercialization of indigenous high-reliability connector technologies for mission-critical sectors including aerospace, defence, space, and electric mobility.Electrical connectors are vital components in modern electromechanical systems, responsible for ensuring the uninterrupted transmission of power, signals, and data under extreme...

SEBI Launches Asset Seizure Drive: Notice Issued to Banks and Depository Firms Against Defaulter in Venus Power Ventures Matter In a decisive regulatory action, the Securities and Exchange Board of India (SEBI) has issued formal Notices of Attachment targeting the assets of Srinivas Rao Marupudi. These notices were released on June 9, 2026, concerning non-compliance related to Venus Power Ventures Ltd. The action represents SEBI's exercise of powers under Section 28A (1) and 11(2)(ia) of the SEBI Act, 1992.The Notices mandate immediate attachment across all relevant financial institutions, signaling strict enforcement against defaulters in corporate matters. This dual-pronged seizure action specifically targets both conventional...

Veerhealth Care Secures Repeat Order Worth 3.60 Crores from Leading FMCG Company for Skin Care Products Mumbai, June 2026: Veerhealth Care Limited, a specialist in Ayurvedic medicines and oral care products, has received a repeat order worth 3.60 crores from a leading Fast-Moving Consumer Goods (FMCG) company for Face Care Products. The order is set to be executed within the next 45 days.The buyer is described as an FMCG company operating in both domestic and international markets within the personal and household care segment, and is part of a prominent Business Group with a legacy spanning 125 years.Veerhealth Care Limited focuses on delivering exceptional and safe daily care experiences through its Ayuveer brand, emphasizing...

ICICI Lombard Appeals Against Tax Demands Are Allowed by CESTAT, Contingent Liability Reduced ICICI Lombard General Insurance Company Ltd has received favorable appeal orders from the Customs, Excise & Service Tax Appellate Tribunal (CESTAT), Mumbai, confirming that its appeals against previous tax demands have been allowed in the company's favor.The orders were received on June 9, 2026. These proceedings concerned claims and penalties related to service tax issues spanning multiple financial years.The original appeals addressed significant demands raised by the authorities across different periods: FY2008-09 to FY2011-12, FY2013-14 & FY2014-15, and FY2011-12. The total demands faced by the company included penalties amounting to ₹...

UCO Bank Updates Benchmark Rates: TBLR and G-Sec Rates Revise as of June 10, 2026 UCO Bank has announced revisions to several of its benchmark rates following a review by the Asset Liability Management Committee (ALCO). The updates affect various benchmarks, while key parameters like MCLR, Repo Linked Rate, Base Rate, and BPLR remain unchanged. These revised TBLR Linked Rates and G-Sec Linked rates are effective from June 10, 2026.The bank provided detailed information regarding the stability of its Micro and Small Business Loan (MCLR) rates, alongside updates to other key financial metrics.MCLR Benchmarks Status As per the ALCO review, all MCLR rates remain unchanged as of the effective date. The details for these benchmarks are...

SEBI Unleashes Asset Attachment Notice, Targeting All Bank Accounts and Securities Holdings in Major Corporate Recovery Action Regulatory action against financial misconduct intensified as SEBI issued a comprehensive Notice of Attachment. The order names Srinivas Rao Marupudi and mandates the attachment of all bank accounts, post office holdings, Demat accounts, and Mutual Fund folios belonging to the defaulter. This sweeping move aims to recover outstanding dues related to Venus Power Ventures (India) Ltd.The notice, dated June 10, 2026, formalizes the recovery process initiated by SEBI’s Recovery Division in exercise of powers conferred under Section 28A (1), 11(2) (ia) of the SEBI Act, 1992. The order targets financial institutions...

SEBI Takes Strict Action: Demat and Mutual Fund Accounts Attached in High-Value Default Case Over Illiquid Stock Options The Securities and Exchange Board of India (SEBI) has issued a significant enforcement action, attaching the Demat and Mutual fund accounts of an individual due to outstanding dues related to Illiquid Stock Options. This regulatory move highlights SEBI's commitment to recovering funds owed under securities contracts.The attachment order, dated June 10, 2026, concerns Sushil Kumar Saraf (PAN: AKUPS9187L). The notice confirms the issuance of a Recovery Certificate No. 9081 of 2026 for the recovery of funds owed by the defaulter.Details of Account Attachment and Enforcement The SEBI order mandates the immediate...

Vijay Kumar Yadav Resigns from Chief Financial Officer Role at Duroply Industries Duroply Industries Ltd has announced the resignation of its Chief Financial Officer (CFO) and Key Managerial Personnel (KMP), Mr. Vijay Kumar Yadav. The change in leadership was effective from the close of business hours on June 10, 2026.Mr. Yadav tendered his resignation due to personal reasons.The details regarding the managerial transition are summarized below:ParticularsDetailsReason for changeResignation due to personal reason.Date of cessationJune 10, 2026Term of appointmentNot ApplicableStock Price Movement Duroply Industries Ltd shares closed lower today, settling at ₹124.10 after falling 4.43%. The equity experienced a wide...