Markets

Delhivery Incorporates Wholly Owned Subsidiary, Delhivery Fintech Distribution Private Limited Delhivery Limited announced the successful incorporation of a new wholly owned subsidiary. The Ministry of Corporate Affairs (MCA) approved the establishment of the subsidiary, named Delhivery Fintech Distribution Private Limited, on June 2, 2026.The incorporation follows the prior approval granted by the Company’s Board of Directors. This strategic move establishes Delhivery Fintech Distribution Private Limited as the new subsidiary entity.DELHIVERY Stock Price Movement Delhivery Limited shares today edged higher, settling at ₹437.95, following a gain of 0.37%. The stock saw significant market interest, with a total volume of 1.69 million...

Shraddha Prime Projects Ltd. Board Approves Key Director Appointments and Reappointments Shraddha Prime Projects Ltd. (formerly known as Towa Sokki Limited) announced the outcome of its Board Meeting held on June 2, 2026. During the meeting, the Board of Directors approved several critical resolutions concerning the company's management and board structure.The Board meeting confirmed the appointment of Mr. Vinay Madhukar Nayak as a Non-Executive NonIndependent Director. Furthermore, the Board approved the recommendation for the reappointment of Mr. Sudhir Balu Mehta as Managing Director and the reappointment of Mrs. Shivangi Datta as an Independent Director. All three appointments are subject to the approval of the Shareholders at the...

Shri V. Packirisamy Appointed Director (Commercial) on the Board of Power Finance Corporation Limited Power Finance Corporation Limited (PFC), a Government of India Undertaking, announced the assumption of charge of Shri V. Packirisamy as its Director (Commercial). The appointment was effective as of June 2, 2026.Shri V. Packirisamy assumed the role of Director (Commercial) on the Board of Power Finance Corporation Limited, following an order indicating his appointment by the President.Key details regarding the appointment include:DesignationDate of JoiningDirector (Commercial)2.06.2026The board confirmed that Shri V. Packirisamy has been associated with Power Finance Corporation (PFC) since January 1997, bringing over 33...

TIL Ltd Board Recommends Appointment of Statutory Auditors, Subject to Shareholder Approval TIL Ltd confirmed the details regarding the appointment of its Statutory Auditors. The company reported that the appointment of M/s. V. Singhi & Associates, Chartered Accountants (FRN 311017E), is recommended by the Board of Directors.According to the information, the Board of Directors held its meeting on May 28, 2026. During this meeting, the Board recommended the appointment of M/s. V. Singhi & Associates to serve as the Statutory Auditors for the company.The company further clarified that the appointment of the Statutory Auditors is subject to the shareholders' approval. Consequently, the effective date of the appointment will be the date...

Concord Enviro Systems Subsidiary Secures INR 16 Crore Order for ZLD Systems Concord Enviro Systems Limited, a key provider of advanced water and wastewater treatment solutions, has announced a significant order secured by its subsidiary, Rochem Separation Systems (India) Private Limited. The order, totaling INR 16 crores, is for the installation of Zero Liquid Discharge (ZLD) systems from a specialized rail engineering and manufacturing company.The receipt of this domestic order reinforces the company's capabilities in delivering advanced water and wastewater treatment solutions, particularly within the specialized domain of Zero Liquid Discharge systems.The agreement, received in the ordinary course of business, involves the...

Awfis Space Solutions Receives Show Cause Notice Over Tax Discrepancies for FY 2022-23 Awfis Space Solutions Ltd has received a Show Cause Notice (SCN) concerning discrepancies identified in its filed return statement for the fiscal year 2022-23. The notice was issued by the Commercial Tax Officer, Nungabakkam, Central-III, Chennai Central, Tamil Nadu.The company received the SCN, dated May 23, 2026, on May 25, 2026. The notice pertains to various discrepancies in the tax filings for the specified financial year.In response to the notice, the company conducted a thorough review and identified apparent discrepancies, including a material calculation error in the demand amount specified. Awfis Space Solutions stated that it is in the...

Patanjali Foods Limited Receives Tax Show Cause Notices Pertaining to ITC for FY 2022-23 Patanjali Foods Limited has received Show Cause Notices (SCNs) from the Office of the Deputy Commissioner (S.I.B./Enforcement), State Tax Department, Uttarakhand, concerning alleged discrepancies and the availing of ineligible Input Tax Credit (ITC) for the financial year 2022-23.The communication was received by the company on May 30, 2026.The SCNs, issued under the Uttarakhand Goods and Services Tax Act, 2017, and the Central Goods and Services Tax Act, 2017, pertain to investigations into alleged discrepancies.Details of Tax Demands The notices propose specific financial demands for the period FY 2022-23. The total proposed tax demand...

Concord Biotech Secures USFDA Approval for Mycophenolate Mofetil Oral Suspension Concord Biotech Ltd has announced that it has received approval from the U.S. Food and Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) covering Mycophenolate Mofetil for Oral Suspension USP, 200 mg/mL.Mycophenolate mofetil is categorized as an antimetabolite immunosuppressant. It is indicated for the prophylaxis of organ rejection in adult and pediatric recipients aged 3 months and older following allogeneic kidney, heart, or liver transplants, used in combination with other immunosuppressants.The approval is significant for the company's growth trajectory in the U.S. and international sectors. According to market estimates...

VVIP Infratech Reports FY2026 Results: Steady Margin Maintained Despite Industry Headwinds Ghaziabad, June 02, 2026: VVIP Infratech Limited, a Public Utility Infrastructure EPC contractor with over two decades of experience, has announced its financial results for the year ended March 31, 2026. The company, which operates across infrastructure and real estate segments, reported consolidated revenue of ₹ 3,464.93 million and a consolidated PAT of ₹ 300.72 million.VVIP Infratech specializes in executing water, wastewater, electrification, and civil infrastructure projects, and also manages a growing real estate development business.Financial Performance Overview The company’s operations show varied trends across its standalone...

ICICI Prudential Life Insurance Receives Tax Order for FY2023 from Chhattisgarh State Tax Authority ICICI Prudential Life Insurance Company Limited has received a tax demand order for the financial year 2023 from the Deputy Commissioner of State Tax, Raipur, Chhattisgarh. The communication, received on June 1, 2026, relates to discrepancies in Goods and Services Tax (GST) liabilities and credits.The order was issued following allegations of mismatch in Input Tax Credit (ITC) claimed in Form 3B compared to Form 2A, mandatory reversal of Input Tax Credit as per GST law, and general mismatch in GST liability.In response to the communication, the company announced it will appeal the order before the appropriate authority within the...

Elantas Beck India Ltd. Approves INR 56 Crores Investment for Capacity Expansion at Gujarat Plant Elantas Beck India Ltd. announced that its Board of Directors, during a meeting held on Tuesday, June 2, 2026, approved a significant investment of Rs. 56 crores (approx.) aimed at expanding manufacturing capacity. The expansion is slated for the company’s plant located in Ankleshwar, Gujarat.The investment is intended to boost the company's operational footprint and strengthen supply reliability across key product segments. The board approved the expansion subject to any requisite regulatory clearances.The details outline a planned capacity increase at the Ankleshwar facility, funded through internal accruals.ParticularsDetails -...

Franklin Industries Ltd Announces Resignation of Company Secretary and Compliance Officer Franklin Industries Ltd has announced the resignation of Ms. Shivi from the position of Company Secretary and Compliance Officer. The change is effective as of June 2, 2026.The company confirmed that Ms. Shivi tendered her resignation due to personal reasons, stating that she is no longer in a position to devote her time to the company.Ms. Shivi served in the role of Company Secretary and Compliance Officer. The transition is noted to take place on June 2, 2026. Franklin Industries Ltd confirmed that there are no material reasons for the resignation other than those provided by Ms. Shivi.Stock Price Movement Franklin Industries Ltd. settled...

Eleganz Interiors Limited Approves Allotment of 8 Lakh Convertible Warrants on Preferential Basis Eleganz Interiors Limited announced that its Board of Directors approved the allotment of 8,00,000 Convertible Warrants (CWs) to a promoter group on a preferential basis. The decision was taken during the Board meeting held on Tuesday, June 2, 2026.The allotment involves 8,00,000 warrants, which are convertible into an equivalent number of equity shares, each having a face value of Rs. 10/- (Rupees Ten Only). The warrants were issued at an issue price of Rs. 83/- (Rupees Eighty-Three Only) each, including a premium of Rs. 73/- (Rupees Seventy-Three Only).The allotment was approved for Sameer Akshay Pakvasa, a promoter, who will receive...

Sharika Enterprises Secures Subcontract for UPCL's Ganga Corridor SCADA-ADMS Modernization Sharika Enterprises Limited, a provider of smart infrastructure solutions in the power sector, has been awarded a key subcontract for the deployment of an Advanced Distribution Management System (ADMS). This project is part of the Uttarakhand Power Corporation Limited's (UPCL) major Ganga Corridor power distribution modernization initiative.The ambitious project is being executed under the Government of India's Revamped Distribution Sector Scheme (RDSS), with East India Udyog Limited (EIUL) serving as the lead contractor. Sharika’s scope involves supplying and installing, alongside Functional Management System (FMS), various key equipment...

Indian Overseas Bank Receives Perpetual License to Establish IFSC Banking Unit at GIFT City Indian Overseas Bank has successfully secured a license from the International Financial Services Centres Authority (IFSCA) to establish an IFSC Banking Unit (IBU). The authorization allows the bank to set up its unit as a branch at GIFT City (GIFT IFSC) in Gujarat.The IFSCA granted the license to Indian Overseas Bank vide its letter dated June 1, 2026. This development follows earlier confirmation that the Reserve Bank of India (RBI) had permitted the bank to set up an IFSC Banking Unit in GIFT IFSC, Gujarat.The license granted by the IFSCA is perpetual in nature. The bank's operations under this unit will remain subject to any specific...

Chavda Infra Reports FY26 Results: Revenue Jumps 22.6% to ₹320.6 Crores Chavda Infra Limited announced its audited financial results for the quarter and financial year ended March 31, 2026, highlighting significant growth in revenue while maintaining operational resilience. The company reported a Revenue From Operations of ₹320.6 crores, marking a 22.6% year-over-year increase.The company posted an EBITDA of ₹58.0 crores, representing a 2.8% year-over-year growth, while the EBITDA margin stood at 18.1%. Profit After Tax (PAT) was recorded at ₹17.0 crores, yielding a PAT margin of 5.3%.Key Financial and Operational Highlights In terms of efficiency and capital management, Chavda Infra Limited reported improved metrics compared to the...

Veronica Production Ltd Board Approves Appointment of New Independent Director Veronica Production Ltd announced key outcomes from its Board of Directors meeting held on Tuesday, June 2, 2026. The Board transacted several corporate approvals, including the appointment of an Additional Director and the reconstitution of various internal board committees.During the board meeting, the Directors appointed Mrs. Sangitaben Sanjaybhai Sanghani as an Additional Director of the Company. This appointment is for the category of Non-Executive Independent Director and is effective from June 2, 2026, for a period of five consecutive years.The Nomination and Remuneration Committee recommended the appointment, and the board approved the details of...

Hindustan Copper Limited Designates Executive Director for Operations, Production, Safety, and Law Hindustan Copper Limited (HCL) has announced a change in senior management roles, designating Shri Shyam Sundar Sethi as the Executive Director (Operations) - Production, Safety and Law.The designation change is effective from June 1, 2026. Following his transfer to the Corporate Office, Shri Sethi resumed duty on this date. In his new capacity, he will be responsible for overseeing the crucial Production, Safety, and Legal matters of HCL.The operational structure for Shri Sethi has been defined: for matters pertaining to Production and Safety, he will report to the Director (Mining). Separately, for all legal matters, he will report...

Havells India Clarifies Vesting and Exercise Periods for Employees Stock Purchase Scheme Havells India Limited provided a detailed update concerning its upcoming 43rd Annual General Meeting (AGM) scheduled for June 19, 2026. The update specifically addressed clarifications sought by Proxy Advisory Firms regarding three proposed resolutions: the approval of the Havells Employees Stock Purchase Scheme 2026, the authorization for the Havells Employees Welfare Trust to subscribe to shares under the scheme, and the provisioning of money by the Company to the Trust.The core of the clarification provided by Havells India Limited related to the mechanics of the stock purchase scheme, particularly defining the maximum vesting and exercise...

APSEZ Logs 16% Cargo Volume Growth in May 2026 Adani Ports and Special Economic Zone Limited (APSEZ) reported robust operational performance for the month of May 2026, noting a cargo volume handled of 48.3 Million Metric Tons (MMT), marking a 16% year-over-year (YoY) growth.During May 2026, the company's overall cargo performance was driven significantly by two key segments. Liquids cargo volume registered a 33% YoY increase, while container movements contributed a 17% YoY growth.Year-to-date (YTD) figures for May 2026 also indicated strong momentum. APSEZ handled a total cargo volume of 91.4 MMT through May, reflecting a 15% YoY growth. Containers continued to lead the YTD performance, showing a 17% YoY uplift.In a specialized...