Markets

Hexaware Stock Surges as AI Partnership Explodes: Midcap Climbs 7% Amid Broader Market Downturn Shares of Hexaware Technologies Ltd witnessed a significant rally on June 29, emerging as the top gainer among BSE Midcap stocks for the day. The stock climbed nearly 7 percent in early afternoon trading, touching levels as high as Rs 528. This strong performance propelled its market capitalization to approximately Rs 32,200 crore.Despite this impressive surge, Hexaware continues to face year-long headwinds, presently trading 37.9 percent lower. This contrasts sharply with the Nifty 50, which registered a decline of 6 percent over the past twelve months.AI Partnership Drives Investor Sentiment The robust investor sentiment surrounding...

Gujarat Fluorochemicals Announces Strategic Expansion to Boost Refrigerant Capacity Gujarat Fluorochemicals Limited (GFL), a leading global player in fluorochemicals and fluoropolymers, has announced its strategic intent to expand refrigerant capacity. The move is designed to ensure GFL fully utilizes its refrigerant gas entitlement under the Montreal Protocol and the Kigali Amendment.Backed by integrated manufacturing capabilities and a strong global marketing network, GFL is positioned to capitalize on the rising demand for refrigerants across domestic and international markets. The company’s existing refrigerant gas portfolio includes R32, R22, R125, and R410A. The planned addition of R134A capacity will strengthen the portfolio by...

Prosus India Revenue Jumps 13% as PayU Crosses Profitability Milestone in Fintech Boom Dutch consumer internet investor Prosus' India business reported a 13 percent year-on-year rise in revenue, reaching $781 million for FY26. This growth was underpinned by significant operational improvements, particularly within the fintech arm, PayU. The company noted that its Indian ecosystem is evolving rapidly through focused execution and strategic acquisitions, deepening cross-platform synergies across its portfolio.A key highlight is PayU's achievement of a profitability milestone, posting adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) of $18 million. This turnaround was driven primarily by marked...

Sustainability Surge: Tata Motors and Castrol India Launch Circularity Pilot for Used Engine Oil in Karnataka Tata Motors and Castrol India have formalized a strategic partnership aimed at pioneering the management of used engine oil waste in India. The companies signed a memorandum of understanding (MoU) to launch a pilot program focused on building a complete used engine oil circularity ecosystem, commencing with operations in Karnataka.This initiative directly addresses the critical need for responsible handling of spent lubricants, which are classified as hazardous waste. By implementing this structured collaboration, both organizations aim to establish a scalable model that supports a truly circular automotive economy...

Krishan Kumar Aggarwal's Holding Declines as Warrants Convert to Equity in Fruition Venture Ltd. Krishan Kumar Aggarwal, a promoter of Fruition Venture Ltd., saw his holding decrease by 2.60%, aggregating to 33.99% following the allotment and conversion of warrants into equity shares on June 25, 2026. The transaction involved the allotment of 6,00,000 equity shares to promoters and non-promoters, alongside the conversion of 6,00,000 warrants into equity shares by the company.The acquisition resulted in a change in shareholding for Aggarwal within Fruition Venture Ltd. Before the transaction, Krishan Kumar Aggarwal's holding was recorded at 14,63,581 voting shares, representing 36.59% of the capital. After the allotment and conversion...

Ashika Credit Capital Completes Equity Warrant Conversion, Raises ₹ 9.13 Crore in Funds Ashika Global Securities Limited (formerly Ashika Credit Capital Limited) announced on June 29, 2026, the completion of a significant equity conversion process involving its Equity Convertible Warrants. The company successfully allotted 2,00,000 Equity Shares through the conversion of warrants and reported the forfeiture of another 16,00,000 warrants, resulting in an increase in its paid-up capital.The conversion allotment involved funds being raised aggregating to ₹ 9,13,50,000/- (Nine Crores Thirteen Lacs Fifty Thousand Only). These funds were received upon the exercise of rights by allottees who participated in converting their warrants into...

Ceigall Appoints Saravanan and Dr. Pawan Kumar as Directors Amid Management Changes Ceigall India Limited announced significant changes in its board composition following a meeting held on June 29, 2026. The Board of Directors approved the appointment of two new directors—Mr. Ayyalusamy Saravanan and Dr. Pawan Kumar—while simultaneously accepting the resignation of Whole-Time Director Dr. Sudhir Rao Hoshing.The appointments were made in recognition of their expertise in infrastructure development, as both individuals are slated to join the company as Additional Directors / Whole-Time Directors with effect from July 01, 2026. These appointments are subject to approval by shareholders at the ensuing Annual General Meeting (AGM). The...

Rapid Delivery Wars Explode: Amazon and Flipkart Launch $15 Billion Challenge Against Quick Commerce Leaders Eternal and Swiggy The hypergrowth of India's rapid delivery segment has hit a critical inflection point. The massive market excitement is now facing intense pressure as titans like Amazon and Walmart’s Flipkart aggressively enter the quick-commerce space. This influx of deep-pocketed competition has led to a substantial selloff, with Eternal Ltd. and Swiggy Ltd. seeing their valuations severely tested in the highly competitive landscape.E-Commerce Giants Intensify Battle for Last-Mile Dominance Amazon.com Inc. and Flipkart are dramatically scaling up their operations to capture market share from established quick commerce...

Solar Industries India Limited Announces Book Closure for Potential Final Dividend Payout Solar Industries India Limited has announced a period of book closure related to the potential payment of the final dividend for the financial year 2025-2026. The closures are set in anticipation of decisions made at the company's upcoming 31st Annual General Meeting (AGM).The company is closing its register of members and share transfer books to facilitate processes related to the AGM and subsequent dividend payment, should it be approved by the shareholders. This action pertains to both the National Stock Exchange of India Limited and BSE Limited.Details regarding the record date and the book closure period are provided below:Stock...

Apollo Micro Systems Stocks Surge 6% as Key Order Confirmation Nears for QRSAM Programme Apollo Micro Systems experienced a significant surge on Monday, climbing over 6 percent following strong reports regarding a potential large order from its key client, Bharat Electronics Ltd (BEL). The company stock rose to ₹408.10 per share on the NSE at around 12:15 p.m., driven by expectations of Apollo Micro Systems securing substantial business related to the Quick Reaction Surface-to-Air Missile (QRSAM) programme.The buying enthusiasm followed a report from CNBC-TV18, which referenced interactions between BEL management and Kotak Securities. This report indicated that the proposed Rs 30,000 crore order for the QRSAM missile system is likely...

Lineage Power Signs Master Supply Agreement for 3 GWh of LFP Battery Cells with Guangzhou Rongjie Energy Tech Lineage Power Pvt Ltd, a material subsidiary of Pace Digitek Limited, has secured a strategic Master Supply Agreement (MSA) with Guangzhou Rongjie Energy Technology Co., Ltd (RJE Tech). The agreement mandates that RJE Tech will supply 3 GWh of Lithium Iron Phosphate (LFP) battery cells and related accessories to Lineage Power.This partnership marks a significant move in bolstering the company's battery cell sourcing infrastructure, supporting the expansion of its Battery Energy Storage System (BESS) manufacturing platform for utility-scale and commercial and industrial (C&I) applications.The collaboration is set to ensure...

Promoter Groups Acquire Shares in NCL Industries Limited via Open Market Transactions Three distinct acquisitions of shares in NCL Industries Limited by promoter-affiliated entities were recorded on June 25, 2026, as these companies purchased stakes through the open market. The transactions involve Kalidindi Ravi, Kakatiya Industries Private Ltd, and Vikram Chemicals Private Ltd, all acting within their respective promoter groups.Details regarding the acquisition of shares by Kalidindi Ravi were reported following the transaction on June 25, 2026. Mr. Kalidindi Ravi, representing a Promoter Group, acquired 1,000 shares carrying voting rights in NCL Industries Limited through the open market. Before this purchase, his holding stood at...

Icodex Showcases AI-Powered Research Publishing Infrastructure at ET Annual Education Summit 2026 Pune-based technology company iCodex Publishing Solutions Ltd. participated in the ET Annual Education Summit 2026, held in New Delhi from June 11 to 12, 2026. The company showcased its vision for strengthening research quality and integrity through PaperPerfect AI, an AI-powered research publishing infrastructure, positioning itself as a leading technology partner to the global academic publishing industry.Representing iCodex at the summit were Mr. Kamal Govindaraj, Managing Director & Chairman, Mr. Chetan Soni, Co-founder & Chief Technology Officer, and Dr. Jane Sheeba, Product Innovation & Research Officer. The event gathered...

Sensex, Nifty Retreat After Daily Gains; Key Sector Dips and Profit Booking Lead Market Slide Indian stock benchmarks Sensex and Nifty traded in the red on June 29, cooling down significantly after reaching highs earlier in the session. The market saw widespread selling pressure driven by profit booking across several sectors, coupled with major downturns in the Information Technology (IT) and Auto indices. At 11:55 hrs IST, both indices were showing moderate declines, signaling caution among traders.Market Performance Snapshot and Sectoral Slowdown The Sensex dipped sharply from its day's high, registering a decline of 239.36 points or 0.31%. It was recorded at 76,861.11. Similarly, the Nifty shed 51.65 points (0.21%) to reach...

Nibe Plunges Nearly 3% as CEO Resigns Ahead of Key Defence Technology Showcase Shares of defence and aerospace manufacturer Nibe Ltd witnessed a decline in morning trade after the company announced the resignation of its Chief Executive Officer and Key Managerial Personnel, Prakash Hari Khose. The stock was trading at Rs 1,610, reflecting a drop of 2.79% following the news release on Monday.Market Reaction to CEO Resignation The abrupt departure of Mr. Khose led to a sharp sell-off in the equity market. Nibe Ltd announced that the resignation of its CEO and Key Managerial Personnel was directly related to personal reasons, as stated in the official exchange filing. This news immediately put pressure on investors holding shares in the...

Narmada Agrobase Ltd Board Approves Postal Ballot for Variation in Rights Issue Object Narmada Agrobase Limited announced key decisions following its Board of Directors meeting held on June 29, 2026. The Board reviewed and approved critical procedural matters related to the ongoing Rights Issue, including a necessary variation in the object of the issue.The company's directors utilized the meeting to approve the Notice of Postal Ballot. This ballot is intended to obtain shareholder approval for modifying the objects of the Rights Issue. The modification pertains to the utilization of funds derived from the net proceeds of the equity shares issue and refers to the original objects specified in the Letter of Offer dated September 17...

Promoter Sells Shares of Syschem India Ltd in Open Market; Holding Stands Above 5% Ranjan Jain, identified as a Promoter and Director of Syschem India Ltd, sold shares in the open market on June 24, 2026. The transaction resulted in a slight reduction of his stake while maintaining significant ownership in the company, according to details disclosed regarding the sale of shares by the Promoter.The shares were transacted via Open Market purchase/sale. As per the filings, the promoter sold 15,000 shares during this process. This sale represented 0.03% concerning both the total share and voting capital of Syschem India Ltd.Prior to the open market sale, Ranjan Jain held 25,24,730 shares, which amounted to 5.13% (w.r.t. total share) or...

Smiths & Founders Approves Director Continuation and Expands Corporate Scope Boards of Directors at Smiths & Founders (India) Ltd finalized several key corporate decisions in a meeting held on June 29, 2026, including extending the tenure of Chairman and Managing Director, Mr. Suresh Shastry, and altering the company’s Memorandum of Association to broaden its operational capacity for restructuring activities.The Board meeting approved the continuation of Mr. Suresh Shastry's appointment as Chairman and Managing Director. This continuity is subject to shareholder approval at the forthcoming Annual General Meeting (AGM) upon his attainment of 70 years of age.Mr. Shastry, who holds over 46 years of experience in the forging industry...

HB Estate Developers Ltd Reports Promoter Shareholding Update as of June 25, 2026 HB Estate Developers Limited has reported a status update regarding its shareholding structure following acquisitions and sales. The company detailed the pre and post acquisition shares for various promoter groups, noting marginal changes in the collective holding percentage.According to the provided data, the total number of Promoter group shares held prior to the transaction stood at 15,532,404, representing 67.65% of the company's equity shares. Following the transactions and acquisitions, the Promoter Group holding increased slightly to 15,547,984, accounting for 67.72% of the total Diluted Shares of the TC.The reported figures reflect a shift in...

Viceroy Hotels Ltd Approves Rights Issue of Equity Shares, Targets Up To Rs 107 Crores Viceroy Hotels Ltd announced that its Board of Directors approved a plan to raise capital through the issuance of fully paid-up equity shares on a rights basis. The move aims to secure funds for the company from existing non-promoter shareholders, with a target amount set not exceeding Rs 107.00 Crores.The decision was made during the Board meeting held on Monday, June 29, 2026. During the meeting, the directors considered and approved raising the funds through the rights issue of equity shares to existing shareholders who are neither promoters nor part of the promoter group.To ensure the effective execution of the planned capital raise, the Board...