Markets

Bajaj Electricals Limited Receives Adverse Appellate Order on GST Input Tax Credit Disallowance Bajaj Electricals Limited has reported receiving an adverse appellate order concerning the disallowance of Goods and Services Tax (GST) Input Tax Credit for the financial year 2020-21.The adverse order, dated May 30, 2026, was issued by the Office of the Joint Commissioner of Commercial Taxes (Appeals)-1 in Bengaluru. The company reported receiving this order on May 31, 2026, noting that the appellate authority dismissed the appeal without considering the submission made by Bajaj Electricals Limited.The original issue related to an assessment order received from the Office of the Deputy Commissioner of Commercial Taxes (Audit)-1.2...

A B Cotspin India Reports Robust FY26 Results, Reflecting 31.40% Growth in Net Profit A B Cotspin India Ltd., a leading textile manufacturer with over 25 years of industry expertise, announced its Audited Standalone and Consolidated financial results for FY26. The company reported a significant 31.40% year-on-year (YoY) growth in Net Profit compared to FY25.The consolidated financial highlights demonstrate the company's operational strength and market resilience.Particulars ( ₹ Cr)FY26FY25YoY ChangeTotal Revenue301.67300.91UP by 0.25 %EBITDA42.4132.87UP by 29.04%EBITDA Margin (%)14.06%10.92%UP by 314 BPSNet Profit13.3510.16UP by 31.40 %NPM (%)4.43%3.38%UP by 105 BPSDiluted EPS ( ₹ )5.968.21Down by 27.41 %...

AJC Jewel Manufacturers Ltd Reports 173.62% Year-Over-Year Growth in Net Profit for FY26 MALAPPURAM, Kerala - June 01, 2026 - AJC Jewel Manufacturers Ltd., an integrated B2B jewellery manufacturing and technology platform, announced its audited financial results for the second half and full year of FY26.The company demonstrated significant financial growth, with its Net Profit (PAT) recording a substantial increase of 173.62% year over year, reaching ₹7.83 Crores. The improved profitability was accompanied by a robust increase in EBITDA and a strengthening EBITDA margin.According to the key financial highlights (consolidated), AJC reported the following performance metrics for FY25 and FY26:ParticularsFY25FY26YoY Comparison...

Shipping Corporation of India Announces Director Change Amid Superannuation The Shipping Corporation of India Ltd., a Government of India Enterprise, announced a change in its Board of Directors, citing the superannuation of a long-standing director and the subsequent interim arrangements for key roles.Shri Vikram Dingley has ceased his tenure as a Director (Technical & Offshore Services) on the Company's Board. His departure is attributed to superannuation, an event that was effective as of June 1, 2026.In parallel, the Ministry of Ports, Shipping and Waterways approved an interim appointment to manage the duties of the Director (T&OS) post. The additional charge for this position has been entrusted to Rear Admiral Jaswinder Singh...

Antony Waste Marks Silver Jubilee with Maiden Dividend, Posts ₹18,000 Crore Order Book Antony Waste Handling Cell Limited (AWHCL) announced its financial results for the quarter and financial year ended March 31, 2026. The announcement marked the company's 25th anniversary, celebrating two and a half decades of excellence in India’s Municipal Solid Waste (MSW) management sector.The company announced several key achievements, including a record order book valued at ₹18,000 Crore as of March 31, 2026, and a maiden dividend recommendation.Financial Highlights Consolidated financial results for the fiscal year and fourth quarter were reported, showing robust growth metrics across key revenue streams.Particulars (in ₹...

UCO Bank Announces Change in MD & CEO Tenure UCO Bank confirmed the conclusion of the tenure of Shri Ashwani Kumar as Managing Director and Chief Executive Officer (MD & CEO) of the bank. The CEO had been appointed for a period of three years vide a Government of India notification dated May 31, 2023.The bank stated that Shri Ashwani Kumar ceased his role as MD & CEO upon the successful completion of his designated tenure.The details regarding the change in the bank's management composition were provided, indicating that the cessation of duties was due to the completion of his service period.The key details related to the change are as follows:Reason for ChangeDate of CessationCompletion of tenureMay 31, 2026UCOBANK...

Baazar Style Retail Ltd Closes Two Stores in Assam and Odisha Baazar Style Retail Ltd announced the closure of two Style Baazar outlets, marking a reduction in its operational network. The company confirmed the closure of stores located at Beltola in Assam and Cuttack, Bajrakbati, Odisha.With these closures, Baazar Style Retail Ltd stated that the total number of stores currently operational stands at 274.The company, which operates under the name Baazar Style Retail Ltd (and was previously known as Baazar Style Retail Pvt. Ltd.), reported these operational updates.STYLEBAAZA Stock Price Movement As of 11:06 AM, shares of Baazar Style Retail Limited are slipping by 0.01% in live trading, currently positioned at ₹338.55. The equity...

Oil and Natural Gas Corporation Announces Superannuation of Three Executive Directors Oil and Natural Gas Corporation Ltd (ONGC) confirmed changes in its senior management structure, effective June 1, 2026, following the superannuation of three Executive Directors.The company announced that K N RAMESH, M PORCIA, and DEEP CHANDRA PANT will be exiting their roles due to retirement. These changes represent adjustments within the senior management level of the energy major.The affected individuals and their current designations are detailed below:NameDesignationType of ChangeK N RAMESHExecutive DirectorSuperannuationM PORCIAExecutive DirectorSuperannuationDEEP CHANDRA PANTExecutive DirectorSuperannuationThe...

Ola Electric Registers 15,139 Units in May 2026, Achieving 23% MoM Growth Bengaluru, June 1, 2026: Ola Electric Mobility Ltd. announced sustained growth momentum for May 2026, reporting that vehicle registrations reached 15,139 units. This figure marks a significant 23% month-on-month increase compared to the 12,323 units registered in April 2026. The company reported delivering its third consecutive month of volume growth.According to VAHAN data, the company’s performance significantly outperformed the industry growth rate. Industry volumes grew from approximately 148,000 units in April 2026 to around 170,000 units in May 2026, reflecting an overall industry growth of about 15%. Against this backdrop, Ola Electric’s 23%...

Gujarat Narmada Valley Fertilizers Announces Senior Management Changes Gujarat Narmada Valley Fertilizers and Chemicals Limited (GNFC) confirmed changes in its senior management personnel, effective May 31, 2026. The company announced that Shri Pankaj Kanaiyalal Purohit and Shri Rikesh Ishwarbhai Patel have ceased their services with effect from this date.The departure of Shri Pankaj Kanaiyalal Purohit, who held the position of Executive Director, was attributed to retirement. Meanwhile, Shri Rikesh Ishwarbhai Patel, Chief Manager - Legal & Secretarial, concluded his contract of employment.The details of the changes in senior management are as follows:Personnel NameTitleReason for ChangeEffective Date of CessationShri Pankaj...

H.G. Infra Engineering Subsidiary Receives Appointed Date for Varanasi-Kolkata Highway Project H.G. Infra Engineering Limited has announced that its wholly owned subsidiary, H.G. Varanasi-Kolkata PKG-10 Highway Private Limited, received confirmation from the National Highways Authorities of India regarding the appointed date for a major highway project. The letter confirming the appointed date was received on May 31, 2026.The appointed date declaration pertains to the construction of the 6-lane Greenfield Varanasi-Ranchi-Kolkata Highway under the Bharatmala Pariyojana in the State of Jharkhand. This project is being executed on a Hybrid Annuity Mode (HAM) basis, covering the stretch from Deoria village to Donoreshan village (from km...

Fire Incident at Supplier Facility Causes Temporary Production Disruption at Hyundai Motor India Hyundai Motor India Limited announced that a fire incident occurred at the manufacturing facility of its supplier, Mobis India Limited, located in Irrungattukottai, Kancheepuram District of Tamil Nadu. The fire took place in the late afternoon of May 31, 2026.The incident at the Mobis facility affects the supply of various automotive parts, including audio components, to the company.The company confirmed that the Hyundai and Mobis teams are working closely to assess the full extent of the damage at the Mobis facility. Hyundai Motor India Limited stated that this event will lead to a temporary disruption in the company's production cycle...

Suprajit Engineering Secures US$ 12 Million in New Contracts, Highlights Global Supply Chain Growth Suprajit Engineering Ltd has reported a significant business update, detailing the success of its GCM Division following a strategic restructuring. The company announced that the GCM Division secured substantial new contracts across its plants in Matamoros, Morocco, and India during May 2026.In May 2026 alone, the GCM division secured new contracts valued at approximately USD 12 million annually, with an estimated total lifetime value of USD 75 million. These achievements validate GCM's multi-geography supply chain footprint and acceptance among global Original Equipment Manufacturer (OEM) customers.Major Contracts and Customer Wins...

Punjab Communications Appoints Mr. Tony Bansal as New Chief Financial Officer Punjab Communications Ltd. announced a change in its senior financial leadership, confirming the appointment of Mr. Tony Bansal as the new Chief Financial Officer (CFO) of the company. The transition is effective from June 1, 2026.The change was formalized following a decision by the Board of Directors during its 239th Board Meeting, which took place on May 20, 2026.In this role transition, CA Ajay Aggarwal ceased serving as the CFO of the company. His tenure concluded due to superannuation, effective May 31, 2026.Mr. Tony Bansal, who is an existing regular employee of Punjab Communications Ltd., assumes the role of Chief Financial Officer. He holds an...

Studio LSD Limited Approves Financial Results, Re-appoints Key Personnel Studio LSD Limited announced on May 30, 2026, that its Board of Directors held its quarterly meeting and approved the company's financial results for the half-year ended March 31, 2026, along with the Annual Report for the year ended March 31, 2026. The Board also approved the re-appointment of its Internal Auditor and addressed disclosures regarding Related Party Transactions (RPT).The company released detailed financial statements, including the Balance Sheet, Profit and Loss Account, and Cash Flow Statement, providing an overview of its financial position.Financial Performance Highlights The statement of standalone financial results for the year ended March...

LIC Allots Bonus Equity Shares Following Board Committee Meeting Life Insurance Corporation of India (LIC) announced the allotment of bonus equity shares following a meeting of its Stakeholders' Relationship Committee. The move substantially increased the paid-up equity share capital of the corporation.The Stakeholders' Relationship Committee of the Board of the Corporation allotted a total of 632,49,97,701 equity shares, each having a face value of Rs. 10.The allotment was structured as a 1:1 bonus ratio, granting one fully paid-up bonus equity share of Rs. 10 face value for every one existing fully paid-up equity share of Rs. 10 face value held by eligible members.The allotment was made to eligible members whose names appeared...

Tata Technologies Secures SAP PartnerEdge Sell Authorization to Bolster Enterprise and AI-Led Transformation Capabilities Tata Technologies Limited, a global product engineering and digital services company, announced on June 1, 2026, that it has secured SAP PartnerEdge Sell authorization across both India and the United States. This achievement significantly strengthens the company's strategic position within the SAP ecosystem.The authorization marks a key evolution in Tata Technologies' go-to-market strategy. The firm is transitioning from a services-led model to a solution-led, outcome-driven approach. Under this model, Tata Technologies will lead customer engagements across the entire lifecycle, encompassing solution advisory...

RBI Launches Crucial 2025-26 Survey to Gauge ITES and Software Export Health The Reserve Bank of India (RBI) has commenced the annual data collection cycle by launching its survey on Computer Software and Information Technology Enabled Services (ITES) Exports for the period 2025-26. This critical exercise mandates data submissions from all entities engaged in IT export services. The aggregated findings derived from this survey will be disseminated in the public domain. Furthermore, the data will be instrumental in compiling India's comprehensive external sector statistics.Scope and Significance of the ITES Export Data The survey is designed to collect detailed information across multiple facets of India’s digital economy. It covers...

Hindustan Petroleum Appoints New Chief Financial Officer, Restructures Directorate Hindustan Petroleum Corporation Ltd has announced changes in its Directorate and the appointment of a new Chief Financial Officer (CFO), effective June 1, 2026.The company reported the superannuation of Shri Rajneesh Narang, who held the position of Director - Finance and CFO, effective May 31, 2026.In the interim, the Ministry of Petroleum & Natural Gas had previously conveyed that the Competent Authority approved the entrustment of additional charge of the Director-Finance post to Shri K S Shetty, Director Human Resources. Consequently, Shri K S Shetty assumed the additional charge of Director - Finance effective June 1, 2026, for a period of three...

Puravankara Signs JDA for 11.23-Acre Land Parcel in North Bengaluru, Targeting Potential GDV of Rs 1,100 crore Puravankara Limited, a leading real estate developer in India, has entered into a Joint Development Agreement (JDA) for a significant 11.23-acre land parcel located in Doddagubbi, North Bengaluru. This residential apartment project has been assessed with an estimated gross development value (GDV) of Rs 1,100 crore. The development is expected to yield a developable area of approximately 0.74 msft.The strategic expansion aligns with Puravankara’s continued focus on high-demand urban corridors. Doddagubbi, North Bengaluru, is positioned within a rapidly evolving corridor, benefiting from strategic access to major areas...