Markets

BHEL Secures International Contract from Dangote for Gas Turbine Generator Supply in Nigeria Bharat Heavy Electricals Limited (BHEL) has signed a significant contract agreement with M/s Dangote Petroleum Refinery & Petrochemicals Free Zone Enterprise, Nigeria. The deal covers the design, manufacturing, supply, and supervision of erection and commissioning of 8 Gas Turbine Generator Packages destined for the client's operations in Nigeria.The contract was formalized on June 2, 2026. Under the agreement, BHEL will execute the comprehensive scope of work covering a Petroleum Refinery and Polypropylene Plant located within the Dangote Industries Free Zone in Nigeria.The order encompasses the design and manufacturing phases, providing...

HCLTech Recognized by Forbes as One of America's Best Employers for New Grads for Third Year HCLTech, a global technology company, has been recognized by Forbes as one of America's Best Employers for New Grads for the third consecutive year. This recognition underscores the company's commitment to providing meaningful early-career opportunities and long-term growth pathways for young professionals globally.The honor highlights HCLTech's strategic focus on talent development through a comprehensive ecosystem spanning engineering and business entry points. The company supports new graduates with structured programs such as TechBee and the Global Engagement Managers program, aiming to provide clear progression and real-world experience...

Oil Country Tubular Limited Receives Show Cause Notice from SEBI Over Alleged Non-compliance Oil Country Tubular Limited has received a Show Cause Notice (SCN) issued by the Securities and Exchange Board of India (SEBI). The SCN, dated June 02, 2026, was received by the company on June 03, 2026.The notice pertains to alleged non-compliance with certain provisions of SEBI regulations regarding listing obligations. This action initiates adjudication proceedings and the appointment of an Adjudicating Officer under relevant SEBI rules to inquire into the matter.A review of the details provided in relation to the SCN highlights several areas of alleged violation concerning the company’s agreements and approvals.Details of the...

Touax Group, Texmaco Rail and TrinityRail Launch Joint Venture to Transform India's Freight Rail Ecosystem In a major development for the rail freight sector in India, Touax Group, Texmaco Rail & Engineering Limited, and TrinityRail Global have formed a landmark partnership. The companies announced the creation of Touax Texmaco Railcar Leasing Pvt. Ltd. (TTRL), a world-class joint venture set to transform India's ₹3-lakh crore freight rail ecosystem through a first-of-its-kind global railcar leasing platform.TrinityRail Global, a subsidiary of Trinity Industries, Inc., will take a 32% participation in this tripartite partnership. This investment aims to solidify TTRL’s market position and facilitate the growth and expansion of the...

Tax Tribunal Orders Material Subsidiary of Lemon Tree Hotels Limited for Service Tax and Penalty Lemon Tree Hotels Limited has received an order from a tax tribunal regarding its material subsidiary, M/s Fleur Hotels Limited. The ruling involves a demand for service tax and penalties under Section 76 and 77(2) of the Finance Act, 1994.The order was issued by the Customs, Excise and Service Tax Appellate Tribunal, Regional Bench at Hyderabad, on June 03, 2026. The tribunal confirmed a demand amounting to Rs. 33,54,487/- for service tax, along with associated penalties under Section 76 and 77(2) of the Finance Act, 1994.The tax liability pertains to the period spanning July, 2012, through March, 2013. The underlying violation detailed...

IIFL Finance Limited Approves Fixed Rate Senior Secured Notes Issuance of USD 500 Million IIFL Finance Limited has finalized the terms for issuing fixed rate, senior, secured notes as part of a planned Global Medium Term Note Programme. The financing vehicle is intended to raise USD 500 million and will be listed on India International Exchange IFSC Limited and NSE IFSC Limited.The decision regarding the pricing, tenure, and specific terms was approved by the Finance Committee at its meeting held on June 3, 2026. These notes are structured to comply with Regulation S and/or Rule 144A of the U.S. Securities Act 1933.The proceeds from this issuance are designated for onward lending and supporting the growth of IIFL Finance Limited's...

AstraZeneca Pharma India Approves Surrender of Factory License AstraZeneca Pharma India Limited has confirmed that its Administrative Committee of the Board of Directors has approved the surrender of a factory license, allowing it to be cancelled by the Department of Factories, Boilers, Industrial Safety and Health. The license had been valid up until December 31, 2026.The decision relates to the cancellation process for the factory operating under the company. The Administrative Committee’s approval formalizes the surrender of this regulatory requirement to the designated governmental authority.Key details regarding the surrendered license are summarized below:ParticularsDetailsLicensing AuthorityDepartment of Factories...

Pranik Logistics Secures Commercial Addendum for Logistics Services with Flipkart Group's InstaKart Pranik Logistics Limited has finalized a significant commercial arrangement with InstaKart Services Private Limited, the logistics and fulfillment arm of Flipkart group. The agreement details operational charges and services to be provided by Pranik Logistics to InstaKart.The definitive execution of the Scope of Work (SOW) took place on June 3, 2026. This operationalizes a broader Master Services Agreement (MSA) that the Company had previously entered into with InstaKart on May 14, 2026. The services covered under the engagement include various logistics solutions and road transportation and delivery services.Pranik Logistics assessed...

Tolins Tyres Limited Set to Showcase Product Portfolio at 10th Edition of TTT Expo 2026 Tolins Tyres Limited, a leading presence in the tyre and treads industry, is set to participate in the 10th Edition of the Truck, Trailer & Tyre (TTT) Expo 2026. The event, recognized as Asia's premier commercial vehicle exhibition, will be held from June 5-7, 2026, at the Jaipur Exhibition & Convention Centre (JECC), Jaipur.The TTT Expo serves as a crucial platform for the gathering of industry stakeholders, including manufacturers, suppliers, fleet operators, transporters, logistics companies, and Original Equipment Manufacturers (OEMs). It is designed to unveil cutting edge innovations and explore emerging trends shaping the transportation and...

Girnar Spintex Industries Releases Financial Results for Quarter and Year Ended March 31, 2026Girnar Spintex Industries Limited, formerly known as Amit Spinning Industries Limited, has released its financial results and integrated filing for the quarter and financial year ended March 31, 2026. The company's Board of Directors concluded an adjourned meeting on June 3, 2026, approving the Audited Standalone Financial Results, along with the Auditors' Report.The company has confirmed that its Statutory Auditors have issued an Audit Report with Unmodified Opinion on the Audited Standalone Financial Results for the financial year ended March 31, 2026. The company operates in the cotton yarn manufacturing sector and maintains only one...

Marvel Decor Limited Secures International Purchase Order of INR 6.80 Crore for Customized Blinds Marvel Decor Limited has secured a regular purchase order totaling INR 6.80 Crore from its Rest of the World (ROW) division, demonstrating growing international demand for its specialized products. The order is for the supply and installation of customized solutions, specifically focusing on Motorised Roller Blinds and Exclusive Long-Width Fabric Customization tailored to project requirements.The purchase order was received from an international entity and is scheduled to be executed within a period of six months.This transaction stands as a non-related party deal, with the company confirming that neither the promoter nor any associated...

HFCL Strengthens Defence Focus with Major Investments and Acquisitions; Divests Stakes in Raddef Private Limited On June 3, 2026, the Board of Directors of HFCL Limited approved several strategic initiatives aimed at consolidating and expanding its defence and aerospace business through its subsidiary, HFCL Advance Systems Private Limited (HASPL). These decisions include significant investments into HASPL, the acquisition of specialized defense entities, and the divestment of certain business units.The core transactions focused on establishing a scalable platform for integrated defence solutions within the aerospace segment.Investment in Advanced Defence CapabilitiesHFCL approved an investment in its wholly-owned subsidiary, HFCL...

Aurobindo Pharma Inaugurates TheraNym: Pioneering India's Large-Scale Biologics Contract Manufacturing Facility Aurobindo Pharma Limited has marked a significant milestone with the inauguration of TheraNym, one of India's largest dedicated biologics contract manufacturing organizations (CMO). The facility represents Aurobindo Pharma’s strategic foray into the growing global segment of biologics contract manufacturing.The inauguration ceremony was held in Hyderabad and witnessed by Ministers Shri D. Sridhar Babu and Shri Damodar Raja Narasimha from the Government of Telangana. These officials jointly inaugurated the TheraNym Biologics facility, underscoring the commitment to positioning Telangana as a center of excellence for...

LTM Launches Managed Secure Service Edge Solution in Partnership with Cisco LTM Limited has announced the launch of its new Managed Secure Service Edge (SSE) solution at Cisco Live 2026. This comprehensive offering is designed to help enterprises safely deploy generative AI, strengthen zero trust architectures, and simplify complex access management across cloud-first and hybrid work environments.Built directly upon Cisco Secure Access, LTM’s managed SSE solution combines the robust security provided by Cisco with LTM's specialized AI-powered managed services. The solution ensures secure access to applications and enables the safe use of AI applications and models for modern enterprises.Securing the Modern Enterprise The integration...

Oricon Enterprises Applies for Re-classification of Promoter Group Members to Public Shareholders Oricon Enterprises Limited has applied to both the BSE and National Stock Exchange of India (NSE) seeking approval for the re-classification of several members of the ‘Promoter and Promoter Group’ category. The application was submitted on June 03, 2026.The request seeks formal acceptance from the stock exchanges to re-designate these group members from promoter status to that of public shareholders. This action follows the outcome of a Board Meeting held on May 29, 2026, which approved the requests for re-classification that had been submitted on May 26, 2026.The application specifically concerns 17 individuals and entities who hold...

ICRA Assigns Ratings for Sandhar Technologies Limited's Borrowing Facilities ICRA Limited has assigned credit ratings for several borrowing facilities extended to Sandhar Technologies Limited by its bankers. The ratings cover long term fund based Term Loans, Long term/Short term Fund Based Working Capital Facilities, and Long term Unallocated facilities.The rating assignments provide insight into the company’s financial capacity related to these debt instruments.Aggregate Facility Rating Summary Based on the assessment by ICRA Limited, Sandhar Technologies Limited holds a total rated borrowing facility of Rs 885 Crore across multiple instrument types. The ratings assigned are detailed below:InstrumentRated Amount (Rs...

Karnataka Bank Integrates with EPFO Portal to Facilitate Seamless Digital EPF Payments Karnataka Bank Limited has successfully integrated its Internet Banking platform with the Employees' Provident Fund Organization (EPFO) portal, enabling a fully digital and seamless payment system for provident fund contributions. The integration went live on June 01, 2026.This major technological update allows customers to complete EPF payments directly through the EPFO portal by selecting Karnataka Bank's Internet Banking facility during checkout. This capability ensures that transactions are processed in a secure and efficient manner.The new service provides real-time validation, instant transaction confirmation, and enhanced convenience for...

W S Industries Completes Mutual Surrender and Sale of Industrial Land in Doddajala Village W S Industries (India) Limited has confirmed the completion of the mutual surrender, termination of the Lease Agreement, and subsequent sale or transfer of its industrial land situated at Doddajala Village Panchayath near Bengaluru. The transaction was finalized on June 3, 2026, following necessary document execution and registration.The company reported that the agricultural land associated with the project concluded the stipulated formalities as approved previously by the Board of Directors. This completion marks the fulfillment of the industrial land transfer planned for the property located in Doddajala Village Panchayath near Bengaluru...

Wheels India Limited Appoints Harsha Viji as Additional Director Wheels India Limited has announced the appointment of Mr. Harsha Viji to its Board of Directors as an Additional Director (Non-Executive Non-Independent), effective June 3, 2026.The company’s Board of Directors approved the appointment of Mr. Harsha Viji. In this capacity, he will hold office until the conclusion of the ensuing Annual General Meeting and will be liable to retire by rotation.Mr. Viji joins the board bringing over two decades of diverse experience in financial services. His expertise spans strategic areas including strategy formulation, mergers and acquisitions, joint ventures, and new business development across multiple fields of operational leadership...

CESC Limited Appoints Mr. Rajeev Chowdhury as Head of Regulatory Affairs CESC Limited has appointed Mr. Rajeev Chowdhury as the new Head of Regulatory Affairs. The appointment is effective from June 3, 2026.Mr. Chowdhury brings significant experience to the role, having spent 28 years in the power sector. His expertise encompasses regulatory affairs, policy advocacy, tariff strategy, compliance governance, and sector reforms within the industry.The appointment reflects CESC Limited's commitment to strengthening its regulatory functions. Mr. Chowdhury has a distinguished background in leading regulatory strategy and engagement with crucial sector stakeholders. These include CERC, SERCs, the Ministry of Power, and various other...