Markets

Maxgrow India Ltd Appoints Additional Independent Director and New Internal Auditor Maxgrow India Ltd has announced key appointments resulting from its Board of Directors meeting held on June 29, 2026. The company approved the appointment of Dr. M Krishnan as an Additional Non-Executive Independent Director, while simultaneously appointing M/s V. G. Kamat & Associates as its Internal Auditor for the Financial Year 2026-27.The Board meeting considered and formalized these appointments, with a focus on strengthening corporate governance and internal oversight functions within the company.Appointment of Additional Non-Executive Independent Director Dr. M Krishnan was appointed as an Additional Non-Executive Independent Director...

RBI Slams Urban Co-op Bank with Monetary Penalty Over Compliance Failures and Cybersecurity Laxity The Reserve Bank of India (RBI) has imposed a significant monetary penalty on The Citizens Urban Cooperative Bank Ltd., Jalandhar, Punjab. This action was taken following supervisory findings related to failures in regulatory compliance and adherence to specific directions issued by the central bank.The total fine levied against the institution is ₹5 lakh (Rupees Five Lakh only). The penalty stems from non-compliance with directives pertaining to 'Exposure Norms and Statutory / Other Restrictions' and the 'Comprehensive Cyber Security Framework for Primary (Urban) Cooperative Banks'.RBI Penalizes Bank for Regulatory Violations The...

Patel Integrated Logistics Ltd. Raises Buyback Price to ₹20 per Share, Reduces Offer Size Patel Integrated Logistics Limited has announced significant revisions to its tender offer for the buyback of equity shares. Following a Board Committee meeting, the company increased the buyback price and simultaneously reduced the maximum number of shares targeted for repurchase, maintaining the initial aggregate consideration size.The Company had initially approved a plan to acquire up to 60 lakh fully paid-up equity shares, each with a face value of ₹10, at a tender offer price of ₹18 per share. This was planned for an aggregate consideration not exceeding ₹10 crore eighty lakhs.In the latest revision, effective after a resolution passed by...

NCLAT Sets Aside Order on Insolvency Application Against Vikram Solar Ltd The National Company Law Appellate Tribunal (NCLAT) issued an order setting aside the previous ruling regarding the admission of a Section 9 application under the Insolvency and Bankruptcy Code, 2016 against Vikram Solar Limited.The Hon'ble NCLAT, Principal Bench in New Delhi, passed the order on June 29, 2026. This decision overturns the finding made by the National Company Law Tribunal, Kolkata Bench, which had previously admitted the application. The earlier order from the Kolkata Bench was issued on June 12, 2026, and became available on June 18, 2026.The NCLAT's decision concerns the application filed under Section 9 of the Insolvency and Bankruptcy Code...

Jhaveri Credits & Capital Ltd Announces Share Allotment following Amalgamation with U R Energy Private Limited Jhaveri Credits & Capital Ltd has announced a significant increase in its equity paid up share capital, following the approval by its Board of Directors to allot new shares as part of a Scheme of Amalgamation. The allotment pertains to the shareholders of U R Energy Private Limited.The Board meeting of Jhaveri Credits and Capital Ltd held on Monday, June 29, 2026, approved the issuance of 16,16,088 Equity Shares of the company. These shares were allotted to the Shareholders of U R Energy Private Limited under the Scheme of Amalgamation between the two companies.The scheme involves Jhaveri Credits and Capital Limited...

GeeCee Ventures Increases Stake in GMR Power and Urban Infra Through Open Market Purchase Geecee Ventures Limited has made a significant investment by acquiring additional equity shares in GMR Power and Urban Infra Limited (GPUIL) through an open market purchase, boosting its total shareholding in GPUIL. The investment was completed on June 29, 2026.The Company utilized cash consideration to invest Rs. 0.77 crores (i.e. 76.72 lakhs) by purchasing 77,500 equity shares of GMR Power and Urban Infra Limited. This transaction increased Geecee Ventures’ total shareholding in GPUIL to 3,78,000 equity shares, representing a 0.05% stake in the company's paid-up share capital.The investment is part of The Company’s ongoing investment...

RBI Imposes Monetary Penalty on Co-operative Bank After Compliance Lapse on Director Loans and Small Value Lending The Reserve Bank of India (RBI) has imposed a significant monetary penalty on Sri Bharathi Co-operative Urban Bank Limited, Hyderabad. The action follows findings related to regulatory non-compliance concerning specific lending practices within the bank.Under an order dated June 25, 2026, RBI levied a penalty totaling ₹1.50 lakh (Rupees One Lakh Fifty Thousand only). This punitive measure targets failures in adherence to key directions issued by the central regulator.Details of Regulatory Violations Against The Bank The imposition stems from deficiencies identified during the statutory inspection conducted by RBI...

Microsoft Plunges as AI Fears Erode $570 Billion in Market Value, Setting Worst Month Since 2000 Microsoft Corp. shares are facing immense pressure, heading toward their worst month since the dot-com era. Investor apprehension regarding how the software giant will navigate the rapidly evolving landscape of artificial intelligence is driving significant selloffs. The stock has seen a sharp decline of 17% in June, putting it on track for its weakest monthly performance since December 2000.The intense selling pressure has wiped out over $570 billion in market value. The stock hit its lowest closing price since 2023 on Thursday before recovering somewhat on Friday. This decline reflects growing concerns about the balance between...

Hexagon Nutrition Ltd: Joint Managing Director Holds New Zealand Citizenship Hexagon Nutrition Ltd has provided information regarding the citizenship of one of its promoters. The company confirmed that Dr. Nikhil Arun Kelkar, who serves as a Promoter and Joint Managing Director of the organization, holds citizenship of New Zealand.The company also specified that despite holding New Zealand citizenship, Dr. Nikhil Arun Kelkar has been residing in India since 2008. For applicable tax purposes and certain other relevant matters in India, he is regarded as a resident in India.HEXAGON Stock Price Movement Hexagon Nutrition Limited’s stock surged today, closing at ₹65.56 after gaining 14.37% in post-market trading. The equity achieved its...

Afcons Infrastructure Limited Announces 50th Annual General Meeting and Fixed Dividend Details Afcons Infrastructure Limited has announced key dates related to its upcoming 50th Annual General Meeting (AGM), alongside details concerning the proposed Final Dividend for Fiscal Year (FY) 2025-26.The 50th AGM of the company is scheduled to be held on Thursday, July 30, 2026, at 3:00 P.M. IST. Members will participate in the meeting through Video Conferencing (VC) or Other Audio Visual Means (OAVM).A key financial detail released by Afcons Infrastructure Limited is the proposed Final Dividend for FY 2025-26, amounting to ₹ 2.00 per Equity share. This dividend was recommended by the Board of Directors during a meeting held on May 18...

Samvardhana Motherson International to Acquire 28.15% Stake in HRDPL for Captive Power ComplianceSamvardhana Motherson International Limited (SAMIL) and its subsidiaries are moving forward with a strategic agreement aimed at acquiring a significant stake in Hinduja Renewables Energy Private Limited’s special purpose vehicle, HR Dhauliganga Private Limited (HRDPL). This acquisition is set to facilitate the Company's compliance requirements related to captive power generation and consumption under Electricity Laws.The transaction involves SAMIL and its subsidiaries entering into an agreement to acquire a 28.15% stake in HRDPL. HRDPL has been established as a special purpose vehicle by Hinduja Renewables Energy Private Limited. This...

Balkrishna Industries Completes Major Capacity Expansions in Carbon Black and Power Plant Divisions Balkrishna Industries Ltd has announced the successful completion of its integrated expansion projects, significantly boosting capacity across both its Carbon Black production line and its Power Plant division. These investments are key components of the company's strategic growth plan aimed at Year 2030.The company confirmed the completion of its Carbon Black expansion project, which introduces a substantial increase in manufacturing capability and revises existing operational metrics.Carbon Black Expansion Details The completed Carbon Black expansion projects resulted in a move from an existing capacity to a significantly larger...

Baroda Rayon Corporation Lands 80 Crore Facility from Aditya Birla Capital for Real Estate Refinancing Baroda Rayon Corporation Ltd (BRCL) has secured a term loan facility aggregating to 80.00 Crore from Aditya Birla Capital Limited (ABCL). The agreement, finalized on June 29, 2026, involves the refinancing of existing consortium borrowings combined with a fresh term loan provided by ABCL for BRCL’s commercial real estate project.The total facility of 80.00 Crore is structured as a takeover-cum-enhancement of the company's existing debt and includes an additional lending tranche from the lender. The transaction aims to optimize the company’s financing cost while providing necessary capital for its ongoing commercial real estate...

ERP Soft Systems Ltd reports technical failure of Structured Digital Database compliance software ERP Soft Systems Limited has reported a significant technical failure involving its Structured Digital Database (SDD) compliance software that occurred on June 29, 2026. The SDD is a standalone regulatory compliance application maintained exclusively for recording the sharing of Unpublished Price Sensitive Information (UPSI), operating separately from the company's core accounting and operational systems.The technical failure resulted in the loss of data maintained within the SDD software. The company stated that despite efforts, it was unable to retrieve or restore this information as no system backup was available for the affected...

Gabion Technologies Secures Multiple Domestic Orders Valued at Over 64 Lakh, 79 Thousand Rupees Gabion Technologies India Limited has secured a series of routine work and supply orders during the period spanning June 14, 2026, to June 27, 2026. The company confirmed receiving these contracts in the ordinary course of business, which involve the provision of gabion materials and engineering services within domestic projects.The total aggregate value of the multiple routine orders received during this period is approximately INR 6,42,79,070.82 (Rupees Six Crore Forty-Two Lakh Seventy-Nine Thousand Seventy and Paise Eighty-Two Only), inclusive of applicable GST.These contracts cover various aspects of civil infrastructure projects...

L.K. Mehta Polymers Launches New Wholly Owned Subsidiary for Green and Renewable Energy Sector L.K. Mehta Polymers Ltd has taken a strategic step into the sustainability market, announcing the incorporation of a new subsidiary dedicated entirely to green and renewable energy products and solutions in India. This move signifies a major diversification effort aimed at expanding the company’s operational footprint within the rapidly growing environmental technology sector.The newly incorporated entity is named L.K. Mehta Green Private Limited (subject to approval by the Registrar of Companies). The company's Board of Directors approved this strategic initiative during a meeting held on June 29, 2026.The proposed subsidiary will focus...

Bandhan Bank's Chief Financial Officer, Mr. Rajeev Mantri, Announces Resignation Bandhan Bank Limited has announced that Mr. Rajeev Mantri, who served as Chief Financial Officer (CFO) and Key Managerial Personnel (KMP), has tendered his resignation from the bank. The decision comes after the individual chose to pursue other opportunities for career growth.Mr. Mantri submitted his resignation on June 29, 2026. In line with the Bank’s policies, his last working day in the capacity of CFO and KMP is set for September 25, 2026.In a separate communication, Mr. Rajeev Mantri also resigned from the position of Executive President and Chief Financial Officer at Bandhan Bank Limited. He requested to be relieved of his services following a...

Gadkari Mandates Quality Surge: Minister Reviews Thousands of KM of National Highways in Jharkhand and Uttarakhand Scope of Union Minister's Highway Review Union Minister for Road Transport and Highways, Shri Nitin Gadkari, undertook comprehensive reviews concerning the quality, maintenance, and ongoing progress of critical national highway projects. These reviews covered significant segments across two key states: 3,245 km of National Highways in Jharkhand and 4,026 km of National Highway Projects in Uttarakhand.The ministerial meetings were held in New Delhi, based on feedback gathered through media reports and social media platforms. The review process involved multiple high-level stakeholders from the infrastructure ecosystem...

Goldman Sachs Signals Re-Rating Potential for Paytm as Market Share Gains and Financial Services Surge Global brokerage Goldman Sachs has maintained a positive outlook on One 97 Communications (Paytm), significantly upgrading its estimates based on the company's expanding market share in payments and robust growth within its financial services division. The brokerage believes that if Paytm sustains a revenue growth rate exceeding 20 per cent, the stock possesses substantial room for a valuation re-rating.Strong Market Gains Fuel Estimate Boost Goldman Sachs noted that Paytm is actively increasing its market penetration across both payments and financial services. The company has increased its revenue estimates by 2 per cent and...

Cube Highways Trust Allots Senior Secured Non-Convertible Debt Securities worth INR 637 Crore Cube Highways Trust, through its Investment Manager, has completed the approval and allotment of senior secured non-convertible debt securities amounting to INR 637,00,00,000. The decision was made on June 29, 2026, by the Board of Directors of Cube Highways Fund Advisors Private Limited.The transaction involves the issuance of 63,700 senior secured rated listed redeemable nonconvertible debt securities to be sold on a private placement basis. These debentures have a face value of INR 1,00,000 each.The investment management team confirmed the terms for these significant debt instruments, which carry a fixed coupon rate and a specific tenor...