Markets

United Heat Transfer Secures Purchase Order from Atlas Copco Crepelle for Manufacturing Goods United Heat Transfer Limited has received a purchase order from international entity Atlas Copco Crepelle, securing a contract for manufacturing and supplying specialized industrial equipment. The deal involves providing Shell & Tube Heat Exchanger, Separator, and Spool Pipes to the company's facility located in France.The contract is valued at Rs. 23,68,375/- approximately, excluding tax. Atlas Copco Crepelle, an international entity, placed the order for the specialized manufacturing and supply of these industrial components.The agreement specifies various terms and conditions, including payment timelines and project completion targets...

Narendra Goel Resigns as Director and Chairman of Shri Bajrang Alliance Ltd Shri Bajrang Alliance Ltd has announced the resignation of Mr. Narendra Goel from his roles as Director and Chairman of the company. The departure was formalized after the company received the resignation, which became effective from the close of business hours on June 08, 2026.The reason cited for Mr. Goel's resignation is pre-occupation with other commitments, leading to an inability to devote sufficient time to the affairs of Shri Bajrang Alliance Ltd.The details regarding this change in leadership have been recorded by the company following the receipt of the resignation letter from Mr. Narendra Goel.Key details regarding the transition are summarized...

Fitch Slashes India's FY27 GDP Forecast to 6.4% Amid US-Iran Conflict and Energy Shock Why The US-Iran Conflict is Driving Down Global Growth Projections Global rating agency Fitch Ratings has significantly trimmed its economic outlook for India, lowering the FY27 GDP growth forecast to 6.4 percent from the previous estimate of 6.7 percent. This downward revision is directly attributed to the macroeconomic fallout stemming from the ongoing US-Iran conflict and rapidly rising energy prices.In its latest Global Economic Outlook, Fitch noted that domestic demand will remain the primary driver supporting growth in India. However, expected lower imports in real terms are also anticipated to help support a positive net external demand. The...

Anupam Rasayan Launches Open Offer for Bliss GVS Pharma Ltd Equity Shares, Targeting 26% Stake Anupam Rasayan India Limited has initiated a mandatory open offer to acquire equity shares in Bliss GVS Pharma Limited. The offer is being made following the execution of a Share Purchase Agreement (SPA) and aims to bring Anupam Rasayan into control of the pharmaceutical company.The Acquirer, Anupam Rasayan India Limited, has established an offering at a fixed price to the public shareholders of Bliss GVS Pharma Ltd.Key Details of the Open Offer The open offer details are as follows:Target Company: Bliss GVS Pharma Limited Acquirer: Anupam Rasayan India Limited Offer Price: ₹ 299.00 per Equity Share Offer Size: Up to 2,77,26,848 fully...

NLC India Shares Plunge as Centre Announces Offer for Sale of Up to 3% Stake Shares of state-run company NLC India traded sharply lower on Tuesday following the announcement by the Government of India regarding a sale of its equity stake. The news contributed significantly to investor concern, driving down the stock price despite assurances from government officials about the company's fundamentals.NLC India shares were trading at Rs 324.40 on the NSE during the day, reflecting a decline of 3.38 percent. Earlier in the session, the volatility intensified as the stock fell by as much as 4.47 percent, driven by the disinvestment mandate.Details of NLC India Offer for Sale (OFS) The Government of India officially announced an OFS aimed...

Marsons Ltd Secures Order Worth Over ₹9 Crore from West Bengal State Electricity Transmission Company Marsons Ltd has secured a significant contract for repairing, inspecting, and testing power transformers from the West Bengal State Electricity Transmission Company Ltd. The order is valued at ₹ 9,48,36,600.00 (including GST).The contract involves specialized services covering the Repairing, Inspection, and Testing of 50MVA, 132/33 KV Power Transformers, including transportation logistics for these assets. The order was awarded by the state utility company.This domestic contract has a stipulated execution period ranging from 6 to 12 months.Key details regarding the contract award are summarized below:Contract...

Ujjivan Small Finance Bank Announces Investor Meeting with Investec - Confluence Ujjivan Small Finance Bank Ltd has scheduled an upcoming Investor/Analyst Meeting. The meeting is set to take place in Chennai and will feature the bank alongside Investec - Confluence.The event, designed for investors and analysts, is scheduled as follows:DateDescriptionModePlaceTimeJune 12, 2026Investec - ConfluenceIn PersonChennai10:00 AM to 4:00 PMThe bank noted that any changes to the meeting schedule may occur due to exigencies on the part of the Bank or the Counterparty. Ujjivan Small Finance Bank also confirmed that no unpublished price sensitive information will be shared during this meeting.UJJIVANSFB Stock Price Movement Shares of...

Stocks Surge Amid Momentum Drive: Aster DM Health, Federal Bank Hit 52-Week Highs as Technical Breakouts Power Rally Despite a market operating without fresh company-specific catalysts, several stocks generated intense momentum trading on June 9. These moves were driven purely by technical strength, sustained buying interest, and impressive price action across various sectors. The day highlighted the power of pure fundamental technical resilience in the equity markets.Momentum Drivers Power Stock GainsStrong upward momentum was evident among select stocks that are now comfortably trading above their key moving averages. Such a positioning suggests a positive near-term trend for these specific equities, as buyers remain active on...

Panacea Biotec Surges as DengiVaccine Project Ignites Biotech Stocks; NLC India Slides on OFS News Biotechnology and Infrastructure Boost Stock Markets Several specific corporate developments continued to drive stock market activity, with pharmaceutical breakthroughs driving strong rallies while planned divestments prompted concern over select energy stocks. Market participants note that the current environment is heavily influenced by news flow, making company-specific updates crucial drivers of volatility.Shares of Panacea Biotec jumped 8 percent following the announcement of its DENSTAR project. This strategic initiative aims to advance the licensure of their dengue vaccine, DengiAll, specifically for use in sub-Saharan Africa and...

Zepto Files IPO Papers Amid Rapid Quick Commerce Surge; Eternal and Swiggy Shares Rally on Market Dominance Race Shares of quick commerce giants Eternal Ltd (Blinkit) and Swiggy Ltd saw a modest recovery on Tuesday following the filing of updated draft IPO documents by rival Zepto. The filing highlighted aggressive growth across the sector, as competitors race for market share through intense expansion of logistics networks and dark stores. Both major stocks were trading slightly higher after significant declines in the previous session.Eternal stock, which owns Blinkit, traded 0.8 percent higher at Rs 250.3 in early trade. Swiggy shares also edged up 0.06 percent to Rs 241.35. The market focus intensified on the rapid evolution of...

RBI Neutralizes Hedging Risk: FCNR(B) Rates Set for Potential Spike as Banks Capture NRI Dollar Inflows The Reserve Bank of India (RBI) has introduced a strategic move aimed at stabilizing foreign exchange reserves and boosting overseas capital inflows. To attract more Foreign Currency Non-Resident (Bank), or FCNR(B), deposits, the RBI has implemented a concessional swap facility that absorbs banks' hedging costs. This initiative provides Authorized Dealer (AD) banks with crucial margin space to offer enhanced rates to Non-Resident Indian (NRI) depositors.The specialized window is available until September 30, 2026. Under this measure, banks can now utilize the RBI swap facility for new and renewed FCNR(B) deposits ranging from three...

Bank Surge Fuels Market Rally: Sensex, Nifty Gap Up as Geopolitical Tensions Ease Amid Forex Facility Launch The Indian stock markets showed resilience on Tuesday, with both the BSE Sensex and Nifty 50 trading significantly higher. The rally was strongly driven by a surge in banking and financial sector stocks, buoyed by the Reserve Bank of India's announcement regarding a new forex swap facility. Sentiment was further lifted by de-escalating geopolitical concerns following an appeal that led Iran and Israel to halt hostilities.The benchmark Nifty 50 traded up 0.46%, reaching 23,225.75 as of the morning trading session. Meanwhile, the BSE Sensex climbed 0.46% to 73,867.34, reflecting broad-based buying across key market segments...

Kellton Launches Large-Scale Digital Wellhead Monitoring System for Oil India Limited Kellton, an AI-led digital transformation and enterprise technology consulting company, has successfully launched a large-scale digital wellhead monitoring initiative for Oil India Limited (OIL), India's second-largest national oil and gas company. This critical deployment was powered by Kellton's proprietary Optima Digital Oilfield Platform.Kellton secured the implementation contract in December 2024, valued at approximately $2.5 Million. The successful launch marks a significant milestone in OIL's digital transformation journey.Operational Details of the Initiative The initiative provides an end-to-end integrated digital oilfield ecosystem...

Currency Surges: Rupee Strengthens After Brent Crude Pullback and Key RBI Inflow Guidelines The Indian rupee opened gaining ground today, appreciating 24 paise against the dollar. The local currency traded at Rs 95.47 per dollar in the current session. This marked a movement from the previous trading day's level of Rs 95.71 per dollar.This positive movement was driven by cooling sentiment surrounding Brent crude oil prices. Additionally, recent guidelines released by the Reserve Bank of India (RBI) to support foreign inflows provided supportive backing to the market sentiment.Brent Crude Dip Amid Geopolitical Stand-down Brent crude took a significant downturn overnight, falling more than 1 percent. The price settled at $93 per...

Vishal Mega Mart Appoints Anurag Krishna as Vice President and Head of Internal Audit Vishal Mega Mart Limited has appointed Mr. Anurag Krishna as the Vice President and Head of Internal Audit and Senior Management Personnel. The appointment was approved by the Board of Directors, following recommendations from the Nomination and Remuneration Committee and the Audit Committee.The appointment details were confirmed on June 09, 2026, giving Mr. Krishna a term of full-time employment with the company.Mr. Anurag Krishna brings extensive experience as a leader in Internal Audit, Risk Management, and Compliance. He is a Chartered Accountant and has over 17 years of experience across various sectors including Retail, Manufacturing, Media...

JSW Steel Reports Consolidated Crude Steel Production of 22.93 Lakh Tonnes for May 2026, Showing 15% Year-on-Year Growth JSW Steel Ltd reported its consolidated Crude Steel production for May 2026 at 22.93 Lakh tonnes, marking a 15% year-over-year increase. The operational data reflects contributions from both Indian and US operations, contributing to the overall output.The company's crude steel production performance across various segments in May 2026 is detailed below:ParticularsMay 2026 (Lakh Tonnes)May 2025 (Lakh Tonnes)YoY GrowthIndian Operations21.9819.1715%JSW Steel USA - Ohio0.950.7920%Consolidated Production22.9319.9615%JSW reported that the higher production in May 2026 was primarily attributed to the full...

RBL Bank Open Offer Update: Zero Shares Tendered by Public Shareholders The open offer initiated for the acquisition of a substantial portion of equity shares of RBL Bank Limited has reported specific tender results as of June 8, 2026. The acquisition is being undertaken by Emirates NBD Bank (PJS C).Details regarding the offered quantity and the current status of tenders have been released in connection with the open offer process.The total size of the open offer was set at up to 415,586,443 equity shares, representing 26.00 per cent of the Expanded Voting Share Capital of RBL Bank Limited.Reporting on the tender status, it has been clarified that zero Equity Shares were tendered in relation to the Open Offer as of the specified...

Court Quashes One-Time Spectrum Charge Imposed on Vodafone Idea Ltd, Mandating Return of Bank Guarantees A court has allowed writ petitions filed by Vodafone Idea Limited concerning material litigation related to spectrum charges, ordering that certain decisions and demand notices imposing a one-time spectrum charge be quashed. The judgment found the respondent's action in levying the retrospective charge unjustifiable based on both statutory provisions and contractual terms.The ruling addresses proceedings initiated against Vodafone Idea Ltd (and its predecessors, Idea Cellular Limited and Spice Communications Limited) regarding charges levied by the Department of Telecommunications (DoT). The court ordered the quashing of impugned...

RBI Tightens Monetary Grip: Repo Rate Stability and SDF Flows Mark June 8 Market Operations The Reserve Bank of India (RBI) released a detailed report on Money Market Operations as on June 8, 2026. The data provides a clear picture of short-term interbank liquidity management across various segments. While the overall market demonstrated tight control over lending rates, operational flows showed specific injections and absorptions aimed at maintaining systemic stability.Overview of Money Market Activities The Overnight Segment saw significant activity with total volume standing at ₹7,29,928.13 crore. In response, the Weighted Average Rate for this segment was recorded at 5.19%, indicating a tightly managed lending environment.Within...

Acquirers Launch Open Offer for Parmax Pharma Ltd, Targeting 26% Stake in Company A consortium of entities led by Dhiren Chandulal Shah and Sunil Chinubhai Shah has initiated a public open offer aimed at acquiring a substantial stake in Parmax Pharma Limited. The acquisition includes both the purchase of equity shares via a Share Purchase Agreement (SPA) and the issuance of new shares through a Preferential Issue, signaling a move toward full control of the company.The offer is designed to acquire up to 23,46,250 fully paid-up equity shares of Parmax Pharma Limited, representing 26.00% of its Expanded Voting Capital. The Open Offer was announced with an offer price set at ₹ 42.80 per share. If the full acceptance of the offer occurs...