Markets

Agarwal Industrial Corporation Limited Awarded Contract by HPCL for Bulk Bitumen Supply Worth Rs 477.50 Crores Agarwal Industrial Corporation Limited (AICL) has secured a significant contract from Hindustan Petroleum Corporation Limited (HPCL), one of India's major Public Sector Undertakings. The agreement involves the supply of specific grades of bulk bitumen across two locations in India.Under the awarded tender, AICL will be supplying Bulk Bitumen (VG-30 and VG-40 Grades) at both Mumbai and Mangalore. The contract specifies a volume of 1,30,000 Metric Tonnes (MTs), with an estimated total value amounting to Rs 477.50 crores.This deal underscores AICL’s growing reliability within the bitumen supply chain and further solidifies its...

Jagran Prakashan Matters Adjourned in NCLT Allahabad Bench to July 8, 2026 Jagran Prakashan Limited (JPL) has seen two important matters concerning its legal proceedings before the National Company Law Tribunal (NCLT) Allahabad Bench. Both cases were heard and subsequently adjourned by the court bench until July 8, 2026.The matters involve C.P. No. 64 of 2023 titled 'Mahendra Mohan Gupta and Ors. v. Devendra Mohan Gupta and Ors.' and C.P. No. 57 of 2025, involving Shailendra Mohan Gupta and Ors. versus Jagran Media Network Investment Private Limited.In the proceedings for C.P. No. 64 of 2023, the bench heard arguments advanced by the senior counsel representing Respondent Nos. 3, 9 and 10. The NCLT Bench subsequently re-notified the...

Crop Life Science Limited Approves ₹7.96 Crore Working Capital Term Loan from HDFC Bank Crop Life Science Limited's Board of Directors approved availing an additional working capital term loan amounting to ₹7.96 Crore from HDFC Bank, providing the company with crucial financial support. The decision was made during a board meeting held on Wednesday, June 03, 2026.The company confirmed that its Board of Directors considered and approved the resolution related to obtaining the additional working capital loan. This facility is being provided by HDFC Bank under the ECLGS 5.0 initiative.Key details regarding the financial arrangement are as follows:Financial ElementDetailsCompanyCrop Life Science LimitedFinancierHDFC Bank...

Jet Freight Logistics Updates Participation Details for India International Cargo Show 2026 Jet Freight Logistics Limited has announced a revision to the schedule of the India International Cargo Show 2026 (IICS 2026), which the company is slated to attend. The event, described as South Asia's largest and premier multimodal logistics exhibition and conference, will now take place over three days at Bharat Mandapam in New Delhi.According to the update, IICS 2026 will be held from June 04, 2026, to June 06, 2026. The event venue is Hall 3 and Hall 4 of Bharat Mandapam in New Delhi.Jet Freight Logistics Limited confirmed that all other details previously disclosed regarding the exhibition remain unchanged. Stakeholders and visitors...

Texmaco Rail & Engineering Restructures Joint Venture, Shareholding Reduced Amid New Partnership Texmaco Rail & Engineering Limited has undergone a significant revision of its partnership structure in Touax Texmaco Railcar Leasing Private Limited (JVC). The company has executed an Amended and Restated Joint Venture Agreement for the JVC with Trinity Rail Global Inc., bringing them into the venture.This strategic adjustment means that, upon the issuance of further shares by the JVC to Trinity Rail Global Inc., Texmaco's shareholding in the joint venture will be reduced from its previous 50% stake to 34%.The partnership details concern Touax Texmaco Railcar Leasing Private Limited, which is a Joint Venture between Texmaco and Touax...

Mono Pharmacare Appoints Nirmala Ranawat as Additional Independent Director The Board of Directors of Mono Pharmacare Limited has appointed Ms. Nirmala Ranawat as an Additional Director, holding both Non-Executive and Independent status on the company's board. The appointment was formalized on June 3, 2026.Ms. Ranawat is set to hold office for a term up to five consecutive years, effective from the date of her appointment, subject to approval by the members at an ensuing General Meeting.The appointment comes as part of corporate governance developments at Mono Pharmacare Limited. Ms. Nirmala Ranawat has been confirmed as having no debarment status from holding directorial office by any regulatory authority.Director Profile and...

ONGC Appoints Anupam Agarwal as Director (Finance) Oil & Natural Gas Corporation Limited (ONGC) has appointed Shri Anupam Agarwal as Director (Finance). The appointment was approved by the Board of Directors and is effective from June 3, 2026.Shri Agarwal will serve in this capacity until his superannuation date on July 31, 2028, or until further orders, whichever comes earlier.Profile of Shri Anupam AgarwalThe appointment sees ONGC benefit from over 35 years of experience in finance and commercial management within the oil and gas sector.Shri Agarwal holds a Bachelor's degree in Commerce and a Master of Business Administration (Finance) from Lucknow University. He is an alumnus of institutions including the Institute of Cost...

Sundaram Finance Completes ESOP Grant Exercise for 6 Holders Sundaram Finance Limited has announced that stock options granted under its Employee Stock Option Scheme (SFESOS) have been exercised, facilitating the transfer of equity shares to designated employees. The exercise pertains to Grant 15, linked to the SFESOS initiated in 2008.The company confirmed the details of this option exercise, which took place on June 3, 2026.According to the company statement, during the relevant grant period, six option holders exercised a total of 1,388 options. The Grant date for these options was May 26, 2023.The details regarding the stock option exercise are as follows:GrantDate of GrantExercise DateNo. of Option HoldersNo. of Options...

SEBI Issues Critical Corrigendum Over Front-Running Trades of Sarvottam Securities Big Client The Securities and Exchange Board of India (SEBI) has released a crucial corrigendum regarding an earlier order concerning front-running trades involving the big client, Sarvottam Securities Private Limited. The regulatory update clarifies terminology within the March 24, 2026, directive aimed at upholding market integrity and investor protection standards.Clarification of SEBI Order on Front-Running Trades SEBI issued an order on March 24, 2026 (Reference No. QJA/MN/IVD-1/ID3/32250/2025-26). This original order addressed the matter of front-running trades executed by multiple entities concerning Sarvottam Securities Private Limited.The...

Virinchi Limited Allots 20 Lakh Equity Shares Following Warrant Conversion Virinchi Limited announced the allotment of 20,00,000 equity shares following the conversion of warrants issued on a preferential basis. The shares were allotted at an issue price of Rs. 25/- per share, carrying a premium of Rs. 15/-, against a face value of Rs. 10/- each.The allotment was made after Virinchi Limited received application money amounting to Rs. 3,75,00,000/- (representing 75% of the issue price). The shares were allotted to various shareholders in the public category.The details of the share allocation are as follows:S.NoName of ShareholderCategoryNo. of Equity Shares1G V Priya RajenderPublic2,00,0002Revathi...

Gujarat Fluorochemicals Limited incorporates new subsidiary in Oman for battery chemical market Gujarat Fluorochemicals Limited (GFCL) has incorporated GFCL EV New Age Materials SAOC as a Closed Joint Stock Company in Oman, marking a move into the manufacturing and trading of battery chemicals. The newly established company has yet to commence its operations.The target entity, GFCL EV New Age Materials SAOC, is focused on the industry of manufacturing and trading battery chemicals. The acquisition was conducted using cash consideration.Financial details surrounding the initial subscription for the new entity are as follows:StakeholderInvestment/CostPercentage ShareholdingGFCL EV Products LimitedOMR4,95,00099.00%Gujarat...

NCLT Orders GE Power, JSW Energy to Convene Meetings for Scheme of Arrangement The National Company Law Tribunal (NCLT), Mumbai Bench, has directed GE Power India Limited to hold meetings of its Equity Shareholders and Unsecured Creditors concerning the proposed Scheme of Arrangement involving the company and JSW Energy Limited.The order was issued by the Hon'ble Tribunal on June 2, 2026. The directive mandates that GE Power India Limited must convene these meetings through video conferencing or other audio-visual means within 70 days from the date the order was received online, which is noted as June 3, 2026.The purpose of these meetings is to consider and, if deemed suitable, approve the proposed Scheme.GE Power India Limited...

Deem Roll Tech Limited Enters Memorandum of Understanding with Sumitomo Heavy Industries for High Performance Steel Rolls Development Deem Roll Tech Limited has formalized a strategic partnership with Sumitomo Heavy Industries Limited. The companies signed a Memorandum of Understanding (MoU) on June 02, 2026. This agreement focuses on the development and investigation of High Performance Steel rolls, aiming to promote mutual understanding through intensive technical evaluation and analysis.The collaboration is designated as an international endeavor. The scope of the business operation under the MoU involves the parties collaborating on the technical assessment of High Performance rolls and subsequently sharing the findings. This...

SEBI Targets Rajesh Exports: Massive Misrepresentation and Fraudulent Trading Indicated in FY 2020-24 Financials The Securities and Exchange Board of India (SEBI) has issued a severe Interim Order against Rajesh Exports Limited (REL), finding prima facie evidence of systematic financial misrepresentation, fraudulent trade practices, and gross governance lapses across multiple financial years. The investigation covers the period from April 2020 to March 2024, alleging that REL artificially inflated its operational scale by recording non-genuine transactions.Misrepresenting Scale: How Inflated Revenue Distorted REL’s Financial Health SEBI's findings indicate that a significant portion of REL's consolidated revenues were not genuine...

Ventive Hospitality Invests ₹50 Crores in Soham Leisure Ventures for OCD Allotment Ventive Hospitality Limited has invested ₹50 crore towards subscribing to 50 lakh Optionally Convertible Debentures (OCDs) of Soham Leisure Ventures Private Limited, which operates the Hilton Goa Resort. The investment, completed on June 3, 2026, saw Ventive commit ₹50,00,00,000 against the subscription of 50,00,000 OCDs, each having a face value of ₹100 and being issued for cash at par.This transaction represents a continued deepening of Ventive’s involvement with the hospitality venture. Prior to this investment, Ventive had previously invested in Soham Leisure Ventures Private Limited (SOHAM) through two separate rounds of OCD subscriptions amounting...

Bank of India Appoints Shri Lalit Taneja as Chief Vice President (CVO) Bank of India has announced the appointment of Shri Lalit Taneja to the role of CVO (Chief Vice President). The appointment is effective starting from June 03, 2026.BANKINDIA Stock Price Movement Today, Bank of India shares edged higher, gaining 2.23% to settle at ₹139.92. The stock traded within its daily range, with activity registering approximately 7.73 million shares during the session.

Munish Forge Limited Secures Significant Domestic and Export Orders, Strengthening Defence Sector Ties Munish Forge Limited has secured several key purchase orders, significantly strengthening its presence in the defence manufacturing sector while expanding its global reach. The company announced contracts from major entities under the Ministry of Defence (MoD) in India, alongside a substantial export order placed by an American customer.The domestic orders involve two separate units within the Ministry of Defence. Munish Forge has received orders for specialized components crucial to national defence requirements.Key details of the secured MoD purchase orders are presented below:CustomerQuantity/Component SuppliedValue (INR)...

Guru Krupa Gems and Jewellery Ltd Receives In-Principle Approval for Preferential Equity Share Issue Guru Krupa Gems and Jewellery Ltd, formerly known as Bhakti Gems and Jewellery Limited, has received in-principle approval from BSE Limited regarding the issue of equity shares on a preferential basis. The approval concerns the issuance of 32,00,000 equity shares at a face value of Rs. 10.00/- each.The authorization was granted by the Stock Exchange for the proposed share offering. This in-principle approval pertains to the issue of the equity shares in accordance with the relevant regulations governing the matter.Key details regarding the company and the security offer include:DetailInformationCompany NameGuru Krupa Gems and...

Shivamshree Businesses Revisions Issue Price for Preferential Allotment of Equity Shares The Board of Directors of Shivamshree Businesses Limited has unanimously approved a mandatory statutory modification regarding the pricing terms for its proposed preferential allotment of Equity Shares. The revision follows an evaluation process required under applicable regulations governing the issuance of capital.Initially, the Company had planned to raise funds by issuing and allotting up to 1,43,50,000 Equity Shares, with a face value of ₹1/- each. The initial estimated issue price for these shares was set at ₹2.25/- per Equity Share.Following the mandatory valuation calculation conducted based on the volume-weighted average price quoted on...

SEBI Appeals Mandate De Novo Review: Regulator Orders Disclosure of Investigation Records Pertaining to Alleged Illegal Fund Mobilization The Appellate Authority under the Right to Information Act, 2005, has issued a significant order regarding transparency within regulatory processes. The decision concerns Appeal No. 6868 of 2026 filed by Sanjay Kumar against SEBI concerning his complaints and appeals related to alleged illegal fund mobilization by Bahubala Private Limited.Review of Initial Information Denial The appeal was lodged after the appellant received a response from the Chief Public Information Officer (CPIO), SEBI, in May 2026. The original RTI application sought comprehensive records regarding both his complaints and...