Markets

Smartworks Strengthens Board Governance with Appointment of Mr. Rajeev Krishnamuralilal Agarwal; Recommends Justice Deshmukh Smartworks Coworking Spaces Limited, India's largest managed office platform by total area under management, has announced significant developments aimed at reinforcing its corporate governance structure. The company appointed Mr. Rajeev Krishnamuralilal Agarwal as an Additional Non-Executive and Independent Director, while recommending the appointment of Justice (Retd.) Dilip Deshmukh as a Non-Executive and Independent Director, pending shareholder approval.These additions are designed to bring deep expertise across capital markets, financial regulation, judicial review, and corporate adjudication to the...

Fintech Lender Fibe Set to File for Up to ₹2,000 Crore IPO Amid Digital Credit Expansion Push Fintech lender Fibe, formerly known as EarlySalary, is gearing up to file its draft red herring prospectus (DRHP) with SEBI for a significant initial public offering (IPO). Sources report that the listing could see the company raise up to ₹2,000 crore through a combination of a fresh issue and an offer for sale (OFS) by existing investors.The filing is anticipated within the next two to three weeks, signaling a major strategic step for digital lending platforms in India. The proceeds from the fresh issue are specifically earmarked to bolster the company's balance sheet and facilitate further expansion of its loan book.Strategic Importance...

Olympic Cards Ltd Reports Default on Term Loan with HDFC Bank; Financial Indebtedness Stands at Rs 8.74 Cr Olympic Cards Ltd, a company specializing in wedding cards and stationery items, has disclosed details regarding a default that occurred on a term loan provided by HDFC Bank Ltd. The company's overall financial indebtedness currently stands at Rs 8.74 crore as of March 31, 2026.The disclosure pertains to a Term Loan taken from HDFC Bank Ltd. The default occurred on May 28, 2026. The specific loan obligation was for a total principal amount of Rs 15.5 crore and included a tenure of 120 months, with an interest rate set at 11.05%. This facility is secured by the company.As of the date of disclosure, the details regarding this...

RBI's VRR Auction Results: Key Rates Set as Banks Absorb ₹75,021 Crore in 2-Day Repo Market The Reserve Bank of India (RBI) announced the outcome of the Variable Rate Repo (VRR) auction conducted on June 29, 2026. This auction targeted commercial banks and financial institutions, solidifying market liquidity at a specific rate for the short term.Overview of the VRR Auction Results The auction was designed to absorb a notified amount of ₹75,000 crore. The total demand generated by participants significantly exceeded the supply offered by the central bank.The aggregate amount of bids received in the Variable Rate Repo auction stood at ₹76,275 crore. This strong participation indicates robust liquidity appetite among market...

Sumeru Industries Ltd's Investment in AAPLS Infraspace LLP is Set for Extinguishment Following Strike-Off Process Sumeru Industries Limited has disclosed that its investment in AAPLS Infraspace LLP, which represents a 19% stake in the entity, is scheduled to be extinguished following the conclusion of the LLP's strike-off process.The corporate entity, Sumeru Industries Ltd., holds an investment totaling ₹1,900/- in AAPLS Infraspace LLP. The company confirmed that the LLP has initiated procedures to have its name struck off from the records of the Registrar.The move is being executed because the LLP has ceased carrying on any business activities and is proceeding with the strike-off process as per the relevant provisions of the...

Cell Point Appoints Ponnada Gopala Ranga as Chief Financial Officer and Key Managerial Personnel Cell Point (India) Limited has appointed Mr. Ponnada Gopala Ranga as the Chief Financial Officer (CFO) and Key Managerial Personnel (KMP). The appointment was approved by the Board of Directors following the recommendation of the company's Nomination and Remuneration Committee, with effect from June 27, 2026.The company announced the strategic move to strengthen its financial leadership. Mr. Ponnada Gopala Ranga has been appointed as CFO based on his extensive experience in finance and accounting.As per the company details provided, Mr. Ponnada Gopala Ranga is a qualified Chartered Accountant and holds a B.Com degree. He possesses over...

Kuantum Papers Ltd plans temporary shutdown of Paper Machine-3 for comprehensive modernization drive Kuantum Papers Ltd has announced that it will temporarily shut down Paper Machine-3 (PM-3). The company initiated this move as part of a planned upgradation and modernization program aimed at enhancing its production capabilities.The facility in question, located at the Saila Khurd plant, Punjab, will undergo the temporary shutdown. Kuantum Papers estimates that the duration of the operational halt for PM-3 will be approximately one month.Despite this scheduled downtime for one specific machine, Kuantum Papers confirmed that all other Paper Machines and the overall plant operations will continue running as usual during the...

Favourable Ruling in US Litigation Provides Significant Boost to ADF Foods Subsidiary The United States District Court, Southern District of New York, has issued Findings of Fact and Conclusions of Law regarding a significant litigation involving ADF Foods (USA) Ltd., a wholly owned subsidiary of Adf Foods Ltd. The ruling constitutes a substantial positive outcome for the company's US operation.The dispute arose between Ascot Valley Foods, Ltd. and ADF Foods (USA) Ltd. Initially, Ascot had filed a case against the subsidiary related to the violation of a Co-pack agreement. Meanwhile, ADF Foods (USA) Ltd. had introduced counterclaims in the matter, including misappropriation of ADF's proprietary recipes and trade secrets.The court...

Amber Group Launches Two Advanced Manufacturing Facilities at YIEDA in Uttar Pradesh Gurugram, India; June 27, 2026: Amber Group conducted a groundbreaking ceremony today for two advanced manufacturing facilities located at YIEDA near Noida International Airport (Jewar), Uttar Pradesh. The expansion solidifies the group's commitment to large-scale technology-intensive manufacturing in India.The ceremony marked the launch of two major projects: Ascent-K Circuit’s facility dedicated to Advanced HDI PCBs manufacturing, and Amber Group’s Ultra Mega AC manufacturing plant.The Ascent-K Circuit facility spans 16 acres and is approved under the Electronics Component Manufacturing Scheme (ECMS) by the Ministry of Electronics and Information...

Master Components Limited Approves Key Decisions for Scheme of Amalgamation with Master Moulds Private Limited Master Components Limited announced key outcomes from its Board meeting held on June 29, 2026, related to the ongoing scheme of amalgamation involving the transferor company, Master Moulds Private Limited. The Board approved critical steps required under the NCLT direction concerning the consolidation of the two entities.The decisions include approving the notice for the Extraordinary General Meeting (EGM) of shareholders and the meeting of unsecured creditors, both scheduled for August 3, 2026. The EGM is set to be held at 11:00 a.m. through Video Conferencing (VC) or other Audio-Visual Means (OAVM), while the unsecured...

Aeroflex Industries Announces Final Dividend of Re. 0.40 Per Equity Share for FY25-26 Aeroflex Industries Limited has announced its final dividend for the Financial Year 2025-26, following a recommendation by the company's Board of Directors. The company fixed Tuesday, July 14, 2026, as the Record Date to determine the entitlement of members for this payment.The dividend amount is Re. 0.40 (Forty Paisa) per equity share, which carries a face value of Rs. 2/- each. The Board of Directors had recommended this dividend during its meeting held on May 05, 2026.Should the proposed dividend be approved by the Members at the upcoming Annual General Meeting, Aeroflex Industries Limited commits to making the payment within statutory...

TTK Healthcare Reports on Operations and Sustainability for FY 2025-26; Highlights Employee Development and Resource Efficiency Efforts TTK Healthcare Limited (TTKHCL) has released its Business Responsibility and Sustainability Report (BRSR) covering the financial year 2025-26, outlining operational achievements, commitment to sustainable practices, and social impact initiatives. The report details the company’s activities across various business units, focusing on product stewardship, human resource management, and environmental conservation efforts.Business Operations and Market Reach TTKHCL is involved in the manufacture, marketing, and distribution of Consumer, Animal Welfare, and Food Products, as well as Medical and Protective...

Blue Cloud Softech Shares Plunge as Stock Dips Nearly 8% After Securing BSNL Empanelment for Private Networks Why Did Blue Cloud Softech's Stock Fall on BSNL Empanelment? Blue Cloud Softech Solutions Ltd saw its shares fall nearly 8% in early trading on Monday, with the stock hitting Rs 19.42 and registering a decline of 7.66%. This sharp movement followed the company's announcement that it has been empanelled by Bharat Sanchar Nigam Ltd (BSNL). The empanelment places Blue Cloud Softech as a Captive Non-Public Network (CNPN) Provider under Category III for BSNL.The stock market reaction suggests investor concern regarding the immediate financial implications of this agreement. While securing such an empanelment is strategically...

Kotyark Industries' Chairman Receives World Book of Records Certificate for Renewable Energy Contributions Mr. Gaurang Rameshchandra Shah, the Chairman cum Managing Director of Kotyark Industries Limited, received the prestigious Certificate of Excellence from the World Book of Records, London. The award recognizes his leadership and contributions to advancing the renewable energy sector.The ceremony took place on June 26, 2026, at the House of Commons in the Palace of Westminster, attended by eminent international guests and distinguished dignitaries. Mr. Shah was honored with the Certificate of Excellence for his impactful work across sustainable energy solutions.According to the accompanying citation, the recognition acknowledges...

Dr Reddy's Rallies Despite FDA Observations as Persistent Slips Amid Acquisition Buzz The corporate landscape saw diverse movements today, driven by regulatory outcomes and major strategic announcements. While Dr Reddy's gained ground following a US Food and Drug Administration inspection, persistent systems faced declines after unveiling its acquisition plan for Nagarro SE. Market participants are maintaining heightened scrutiny on these companies as the flow of M&A activity accelerates across sectors.Regulatory Nod Boosts Dr Reddy's Despite Form 483 Observations Dr Reddy's Laboratories shares climbed by 4 percent following the completion of a Pre-License Inspection (PLI) conducted by the US FDA at its biologics manufacturing...

BAG Films Completes Warrants Conversion as STMSL Allots Equity Shares in Preferential Deal B.A.G. Films and Media Limited has approved the allotment of equity shares resulting from the conversion of warrants by Skyline Tele Media Services Limited (STMSL). The transaction, which took place on June 27, 2026, involves the issuance of 1,02,00,000 fully paid-up Equity Shares to STMSL.The move follows previous transactions involving the convertible warrants issued by B.A.G. Films and Media Limited to STMSL. Initially, in March 2026, the company had allotted 2,00,00,000 fully convertible warrants to STMSL at an issue price of Rs. 8.25 per warrant. The upfront payment received at that time amounted to Rs. 4,12,50,000, representing 25% of the...

CreditAccess Grameen Raises INR 425 Crore Through Private Issue of Non-Convertible Debentures Bengaluru based rural financing platform CreditAccess Grameen Limited has successfully raised INR 425 crore in June 2026 through a private placement of non-convertible debentures (NCDs). The issuance comprised two distinct transactions, underscoring the company's commitment to building a diversified and cost efficient funding franchise.The financing was structured as a combination of a syndicated issue and a bilateral placement. The NCDs are described as senior, secured, rated, and redeemable.Transaction Details The first tranche involved INR 325 crore in NCDs, which were arranged by Nuvama Fixed Income Advisory. This issuance saw strong...

Persistent Systems Plunges Over 8% as Nagarro Acquisition Deal Faces Intense Scrutiny Persistent Systems shares experienced a significant downturn on June 29 after the technology firm announced plans to acquire German digital engineering company Nagarro SE in a substantial acquisition deal. The stock's fall came amidst sharply divergent views from brokerage houses regarding the valuation and execution of the planned transaction.Stock Tumbles as Midcap Leader Faces Setback The stock plummeted by as much as 8.2 percent, hitting Rs 4,445. This steep decline made Persistent Systems the top loser on the BSE Midcap index for the day. The movement extended the stock's overall one-year loss to 26.3 percent. This contrasts with the Nifty 50’s...

Strides Pharma Science Partners with Ascent Capital in Strategic Investment of Pivot Path Bangalore, India, June 27, 2026 — Strides Pharma Science Limited today announced a strategic investment by a consortium led by Ascent Capital, alongside coinvestor Vintage Classic, into its subsidiary, Pivot Path Private Limited. The transaction aims to unlock value and accelerate the growth trajectory of the specialized business unit.The deal values Pivot Path at approximately ₹2,300 million on a post-money basis. This investment enables Strides to realize around ₹1,000 million while retaining roughly 20% ownership stake in the company. Furthermore, the transaction includes a primary capital infusion of ₹500 million provided by the investors to...

Vegorama Punjabi Angithi Ltd Commences and Recommences Operations of Cloud Kitchen Outlets Vegorama Punjabi Angithi Limited, formerly known as Vegorama Punjabi Angithi Private Limited, announced updates regarding its operational milestones in the cloud kitchen space. The company confirmed the commencement of operations for a new outlet while also recommencing activities at an existing location. Both developments occurred on June 27, 2026.The operational expansions include the initiation of services from a brand new location in Noida and the resumption of business at its Dwarka outlet in New Delhi. These developments represent key steps in the company's ongoing growth strategy.A summary of the commencement and recommencement events...