Markets

SKF India Appoints Mukund Vasudevan as Non-Executive Director; Announces Transition SKF India (Industrial) Limited has announced a significant change in its directorial structure, confirming the appointment of Mr. Mukund Vasudevan as a Non-executive, Non-Independent Director. This transition follows his departure from previous executive roles within the company.The Board of Directors, following a meeting held on August 11, 2026 and upon the recommendation of the Nomination and Remuneration Committee, approved Mr. Mukund Vasudevan's appointment to the role. The change is effective from September 1, 2026, and remains subject to shareholder approval.Prior to this appointment, Mr. Mukund Vasudevan had served in an executive capacity...

OnMobile Reports Q1 FY27 Results; ONMO+ Smart Console Launch Drives New Distribution ChannelsBengaluru: OnMobile Global Limited, a leader in mobile gaming and entertainment with operations spanning 41 countries, today announced its consolidated financial results for the First Quarter (Q1) of Fiscal Year 2027. The results reflect the entry into the console gaming market following the launch of the ONMO+ Smart Console through a partnership with Flipkart on June 26, 2026.The company reported that Q1 FY27 revenue stood at INR 1,241 Mn, marking a 3.8% decline quarter-over-quarter (QoQ). However, Gaming Revenue for the same period reached INR 394 Mn, representing a 2.4% increase QoQ. The company reported an EBITDA of INR 15 Mn, which...

Nifty Slips Below 24,500 as Crude Oil Spike and F&O Volatility Dampen Market Sentiment Indian equity benchmarks ended lower on Tuesday, August 11, as investor sentiment faced pressure. The Nifty 50 slipped below the critical 24,500 mark, driven by a rebound in crude oil prices. This decline occurred amid heightened volatility associated with the weekly Futures and Options (F&O) expiry.Analysts are now pivoting focus toward key international data. The upcoming U.S. Consumer Price Index (CPI) release scheduled for Wednesday is expected to provide fresh guidance on global interest-rate expectations, setting the stage for broader market movement.Technical Outlook: Nifty Finds Immediate Support Technical analysis indicates that the Nifty...

SKF India Announces Opening of New Branch Office in Pune SKF India (Industrial) Limited has announced the opening of a new branch office, following approval granted by its Board of Directors. The decision was formalized during a board meeting held on August 11, 2026.The new facility is located at Millennium Towers, Unit - 701, 7th floor, Tower 3 in Wakad, Pimpri-Chinchwad, Pune, Maharashtra 411057, India. This expansion marks a strategic move for the company.SKFINDUS Stock Price Movement Shares of SKF India (Industrial) Limited on Tuesday slipped by 0.50%, settling at ₹2730 as the stock experienced a modest decline. The equity traded on a volume of 10,112 shares during the session, bouncing off a day low of ₹2705.3.

Vidya Wires Appoints Mukund & Rohit as Internal Auditors for Financial Year 2026-2027 Vidya Wires Limited, which was previously known as Vidya Wires Private Limited, has appointed M/s. Mukund & Rohit, Chartered Accountants, to serve as the company's Internal Auditors for the Financial Year 2026-2027. The appointment was approved by the Board of Directors during a meeting held on August 11, 2026.The auditing firm, M/s. Mukund & Rohit, will conduct the internal audit for the period spanning from April 1, 2026, to March 31, 2027.Details regarding the appointment and the appointed auditor are summarized below:ParticularDetailAppointed FirmM/s. Mukund & Rohit, Chartered Accountants (Firm Registration No.: 113375W)Effective Date...

Institutional Frenzy: Giants Pour ₹727 Crore into Shiprocket Ahead of Mega IPO Launch E-commerce enablement company Shiprocket has successfully concluded its anchor investment round, raising a significant Rs 727.41 crore. This substantial funding commitment comes as the company prepares for the market debut of its initial public offering (IPO), scheduled to open on August 12, 2026.The institutional interest underscores the growing trust in Shiprocket’s logistics and e-commerce infrastructure capabilities. The anchor investors committed a total of 74,991,568 equity shares at Rs 97 per share, which represented the upper limit of the IPO price band.Institutional Backing Fuels Shiprocket's Pre-IPO Momentum The anchor allocation saw...

J. B. Mistry & Co. Appointed as Cost Auditor for Vidya Wires Limited for FY 2026-27 Vidya Wires Limited, a manufacturer of super enamelled copper wires and strips, announced the appointment of M/s. J. B. Mistry & Co., Cost Accountants, to serve as its Cost Auditor for the Financial Year 2026-27. The appointment was finalized on August 11, 2026.M/s. J. B. Mistry & Co., holding Firm Registration No.: 101067 and Membership No. 6149, has been appointed to undertake the Cost Audit of Vidya Wires Limited (formerly Vidya Wires Private Limited). The term of this appointment covers the period from April 1, 2026, to March 31, 2027.The firm's profile indicates that it is a proprietary entity offering services such as Cost Audit and Cost Record...

Jammu & Kashmir Bank Limited Board Approves Up To INR 1000 Crores Equity Raise via QIP The Jammu & Kashmir Bank Limited has approved the raising of its equity share capital up to INR 1000 Crores. The decision was made by the Bank's Board of Directors during a meeting held on August 11, 2026.The approval concerns the issuance of Equity Share Capital through Qualified Institutional Placement (QIP). This move allows the bank to raise capital in one or more tranches.The board meeting commenced at 05:00 P.M. and concluded at 10:05 P.M., as confirmed by the management. The planned fundraising activity remains subject to the approval of Shareholders and any other regulatory approvals that may be applicable.J&KBANK Stock Price Movement...

Global Tensions Weigh on Equities as Key Stocks Rally Ahead of Corporate Updates Indian equity markets closed lower on Tuesday amid continued global risk aversion, driven by crude oil price hikes linked to unresolved geopolitical tensions in the region. The broader market experienced a marginal decline despite various corporate actions and major announcements across sectors like infrastructure, manufacturing, and finance.Market Performance and Technical Outlook The Nifty50 settled at 24,471.70, marking a decrease of 112.10 points or 0.46% for the day. The Sensex also retreated, ending at 78,154.25, down 388.19 points or 0.49%. Analysts suggest that the 24,400 zone has solidified as an immediate support area for Nifty50. A decisive...

Foods & Inns Reports Q1 FY'27 Results; Highlights operational shifts and AGM plans Foods & Inns Limited announced its unaudited financial results for the quarter ended June 30, 2026. The Board of Directors approved the performance across both standalone and consolidated segments during a meeting held on August 11, 2026.The company also scheduled its 54th Annual General Meeting (AGM) and provided updates on industry-specific performance and financial indebtedness.Q1 FY'27 Segment Performance The operating performance of the Foods & Inns segment showed varying results for the quarter ended June 30, 2026. Sales (in Rs. Crores/-) were reported at 150, down 34% compared to Q1 FY'26 (229).Key metrics and breakdowns for the Foods & Inns...

FIIs Surge in Buying Streak as Indian Equities Rally, Analysts Caution Over Global Uncertainty Foreign institutional investors (FIIs) resumed their buying momentum in the domestic stock market on August 11, registering a net purchase of shares worth Rs 258.55 crore. Domestic institutional investors (DIIs) also participated marginally, with a net buy totaling Rs 24.77 crore, according to provisional exchange data.The daily activity underscored the resilience of the Indian market despite underlying global concerns. FIIs acquired shares valued at Rs 14,628.47 crore against sales worth Rs 14,369.92 crore. DIIs managed a net gain by purchasing stocks worth Rs 15,006.72 crore and selling shares amounting to Rs 14,981.95 crore.Foreign...

OnMobile Global Reports Q1 Results: Total Income Reaches 1,240.95 Million Amid Operating Expenses OnMobile Global Limited has reported its unaudited financial results for the quarter ended June 30, 2026, with both standalone and consolidated statements approved by the Board of Directors following a meeting held on August 11, 2026. The results reflect significant operational activity across mobile entertainment services globally.The company's operations are primarily engaged in providing mobile entertainment services, including the sale of gaming products. The unaudited results were subject to a limited review by statutory auditors and have been reviewed by the Audit Committee.Consolidated Performance Overview For the quarter ended...

Massive Share Float Surge: $7.6 Billion in IPO Stock Unlocks as Lock-in Expiries Loom Shares from at least 45 recently listed companies are due to become tradable over the next two months, signaling a significant influx of potential supply into the market. These post-IPO lock-in expirations could bring shares worth approximately $7.6 billion onto the trading desks between August 12 and the end of September.The expiry of these regulatory holds allows pre-IPO shareholders, anchor investors, and promoters the opportunity to sell their holdings. While this impending supply wave may not immediately translate into actual sales, the potential for a larger market float is a key focus for equity investors.The $7.6 Billion Supply Wave Arrives...

Sai Parenterals Reports Strong Q1 FY27 Results as Company Varies IPO Proceeds for Strategic Acquisitions Sai Parenterals Limited has announced its un-audited financial results for the quarter ended June 30, 2026, showing robust consolidated and standalone growth. The company is also detailing strategic shifts in the use of IPO proceeds, directing funds towards majority stakes in two new operating pharmaceutical assets and advancing international capacity expansion.The integrated, IP-led pharmaceutical enterprise operates across contract development and manufacturing for multinational customers and branded generic formulations sold domestically and exported globally.Key Consolidated Financial Highlights For the quarter ended June 30...

Wall Street Slides as Middle East Peace Deal Optimism Fades; Energy Costs Fuel Global Inflation Fears Wall Street closed lower on Tuesday after persistent pessimism regarding a potential stabilization deal in the Middle East weighed heavily on equity markets. Investors reacted negatively as assurances that the Strait of Hormuz would remain closed were given, citing ongoing requirements for change from the U.S. to end the conflict. This development caused major tech giants and energy-linked stocks to dip across several indices.Key Market Index Performance The S&P 500 ended down by 188.41 points, or 0.35%, settling at 53,787.57, while the Nasdaq Composite lost 160.36 points, or 0.60%, finishing at 26,445.00. The S&P 500 had previously...

CoreWeave Surges as AI Frenzy Ignites Tech Rally Amid Geopolitical Tensions and Awaiting US CPI Data Oil Market Remains Cautious Ahead of Global Escalation Risks Brent crude oil saw a modest gain, rising 0.3% to $89.10 a barrel for the sixth consecutive session. The advance occurred despite geopolitical tensions in the Middle East. This cautious mood persists as traders await crucial US inflation data release. Analysts note that persistent volatility is driven by the oil price swing, which could dictate the pace of escalation or de-escalation in the region.Despite diplomatic discussions, Pakistan's defense minister stated that the US and Iran are "close to some sort of arrangement" regarding the Strait of Hormuz. However, both sides...

Vidya Wires Limited Invests INR 125 Crore in Wholly Owned Subsidiary ALCU Industries Private Limited Vidya Wires Limited, a manufacturer of super enameled copper wires and strips, has approved a further investment into its wholly-owned subsidiary, M/s. ALCU Industries Private Limited (AIPL). The investment involves subscribing to preference shares in AIPL.The Company committed INR 125,00,00,000/- (Rupees One Twenty-Five Crore Only) through the subscription of 1,25,00,000 Non-Convertible Redeemable Preference Shares of INR 100/- each in AIPL.AIPL operates within the manufacturing of winding and conductivity products. The company specializes in processing and dealing in aluminium and copper products, which includes wires, tubes, rods...

Vidya Wires Limited Appoints D. G. Bhimani & Associates as Secretarial Auditor for Five Years Vidya Wires Limited has appointed M/s. D. G. Bhimani & Associates, a Practicing Company Secretary (Peer Reviewed Firm), to serve as the company's Secretarial Auditor. The appointment was approved by the Board of Directors at its meeting held on August 11, 2026.The firm is set to hold office for a term of five consecutive years, commencing from April 1, 2026, and concluding on March 31, 2031. This appointment is subject to the approval of the company's shareholders.M/s. D. G. Bhimani & Associates has been appointed following a recommendation by the Audit Committee.Profile of Secretarial Auditor The newly appointed firm, M/s. D G Bhimani &...

Sadbhav Infrastructure Project Limited Board Approves New Directors, Audits Resignation and Q2 Financial Results Sadbhav Infrastructure Project Limited conducted a Board of Directors meeting on August 11, 2026, during which several key corporate decisions were made, including the adoption of unaudited financial results for the quarter ended June 30, 2026, the appointment of two new Additional Directors, and the approval of the resignation of its statutory auditors.The Board meeting approved both the standalone and consolidated Unaudited Financial Results of the Company for the quarter ending June 30, 2026. Additionally, the board considered and approved the resignation of M/s. SGDG & Associates LLP, Chartered Accountants, effective...

Shiprocket IPO Eyes Massive Funding: Can E-Commerce Enabler Deliver Long-Term Growth Amid Profitability Hurdles? Shiprocket, the nation's leading e-commerce enablement provider focusing on micro, small, and medium enterprises (MSMEs), is set to launch its Initial Public Offering (IPO). The listing aims to raise substantial capital through fresh equity and an Offer For Sale (OFS), targeting investors with a high risk appetite who are focused on long-term potential.The company is structured to fund significant technology infrastructure expansion, settle existing debts, and bolster marketing initiatives across the market.IPO Structure and Shareholding Dynamics Shiprocket plans to raise ₹885 crore through fresh equity while also...