Markets

Smartworks to Acquire Workstudio Spaces, Targeting Double Footprint Growth in Singapore Market Gurugram, June 25, 2026 - Smartworks Coworking Spaces Limited (Smartworks), India's largest managed office platform by total area under management, announced plans to acquire Workstudio Spaces Pte. Ltd., a Singapore-based flexible workspace provider. The proposed transaction involves the acquisition of Workstudio through Smartworks Space Pte. Ltd., a wholly owned subsidiary.The acquisition is expected to take place in July 2026 and is planned using funds available with the Subsidiary, reflecting a commitment to competitively valued, strategically aligned transactions.Upon completion of the acquisition, Smartworks' portfolio in Singapore is...

RBI Mandates State Borrowing Clarity as Total Quantum Reaches ₹3.18 Lakh Crore for Q3 FY26-27 The Reserve Bank of India (RBI) has released an Indicative Calendar detailing the market borrowings schedule for various State Governments and Union Territories for the quarter spanning July to September 2026. This release underscores the RBI’s commitment to enhancing financial transparency and providing investors with a clear view of upcoming state debt issuances.Enhanced Transparency via Benchmark Issuance Strategy The RBI has progressively rolled out the Benchmark Issuance Strategy (BIS) to standardize market borrowings, aiming to give greater clarity to the investment community. The initial pilot of BIS in Q1: FY 2026-27 involved nine...

India Surges in Green Economy as $110 Billion Revenue Positions it Among Asia's Fastest Climbers The Indian market is witnessing a significant shift toward sustainable enterprise, with green revenues generating impressive momentum for the nation. According to LSEG’s Investing in the Green Economy 2026 report, India generated $110 billion in green revenues in 2025. This remarkable figure establishes India as one of Asia's quickest-rising green economies, despite its relative size compared to regional powerhouses.India Leads Key Niche Segments in Sustainable Production The LSEG report highlights that India’s green revenue growth is outpacing both global and regional averages over a five-year period. While the global market saw a 10...

United Heat Transfer Secures Rs 2.47 Crore Working Capital Loan Facility from Saraswat Co-operative Bank Limited United Heat Transfer Limited (UHTL) has secured a working capital loan facility of Rs 2.47 Crore from Saraswat Co-operative Bank Limited. The deal, executed on June 24, 2026, involves the hypothecation of UHTL's movable and fixed assets to secure the term loan facility.The working capital facility is secured by the company’s current assets, which include stock and book debts, as well as plant and machinery. The assets are located across multiple sites in Nashik and Talegaon, Maharashtra.As part of the agreement terms, UHTL will benefit from a structured loan repayment plan. The details of the financial arrangement with...

Sinclairs Hotels Cancels Udaipur Operation Amid Financial Performance Review; Focus Shifts to West Bengal Expansion Sinclairs Hotels Limited has announced the closure of its operations at the Sinclairs Udaipur property. The company decided to cancel the lease for the location, effective from June 30, 2026. This strategic decision comes after a review of the unit’s financial performance, as the Udaipur property was reportedly incurring continuous losses that had negatively affected the company's overall profitability.In response to the evolving business environment and market assessment, Sinclairs Hotels is recalibrating its operational focus toward West Bengal. The brand maintains strong recognition and goodwill in the region. The...

Customs Appeal Status: UNO Minda Limited Receives Order from Appeals Commissioner UNO Minda Limited has received a new order from the Commissioner of Customs (Appeals-II) concerning a dispute over the misclassification of HSN on imported goods, stating that its previous appeal had not been considered by the appellate authority. The Company confirmed the receipt of the ruling and indicated plans to contest the matter.The customs dispute originated from an initial order regarding the import classification. This original determination led to demands for differential duty amounting to Rs. 42,97,510/- (which was deposited), interest as applicable under section 28AA of the Customs Act, 1962, a penalty of Rs. 42,97,510/-, and a redemption...

NLC India Limited Issues Commercial Paper Aggregating to ₹500 CroreNLC India Limited, a Navratna enterprise of the Government of India, has announced the issuance and allotment of Commercial Paper (CP). The financial instrument was completed on June 24, 2026.The company issued a total of 10,000 pieces of Commercial Paper. Each paper carries a face value of ₹5,00,000/-, bringing the aggregated amount of the issuance to ₹500 Crore.NLCINDIA Stock Price Movement On Thursday, shares of NLC India Limited shed ₹5.70, settling at ₹320.10 after closing 1.75% down from previous levels. The stock saw a traded volume of 2.45 million shares during the session.

State Bank of India Completes Tenure of Directors State Bank of India announced that the terms of four directors elected under Section 19(c) of the State Bank of India Act, 1955, will conclude.The tenures of these directors are set to end on June 25, 2026, following the completion of their term with the Central Board of the bank.The directors whose tenure is concluding include:Shri Ketan S. Vikamsey Shri Mrugank M. Paranjape Shri Rajesh Kumar Dubey Shri Dharmendra Singh ShekhawatSBIN Stock Price Movement State Bank of India saw its equity climb on Thursday, settling at ₹1045.4 after edging up 1.02% against its previous close. Trading activity remained robust throughout the day, with SBI seeing approximately 16 million shares...

Transport Corporation of India Announces AGM and Final Dividend Details for Financial Year 2026 Transport Corporation of India Limited has announced the details pertaining to its 31st Annual General Meeting (AGM) and set key dates related to the declaration of a final dividend for the financial year ended March 31, 2026.The Company's Board of Directors recommended a final dividend of Re. 1/- per Equity Share. This recommendation was made by the Board at its meeting held on May 26, 2026.The AGM is scheduled to be held on Thursday, July 30, 2026, at 10:15 AM (IST). The meeting will be conducted through Video Conferencing or Other Audio Visual Means (VC/OAVM).A final dividend for FY2025-26 will be paid within 30 days following the...

Om Power Transmission Limited Secures Letter of Award for 220kV Transmission Line Project Om Power Transmission Limited has secured a Letter of Award (LOA) from SAEL Industries Limited. The contract involves the supply, erection, stringing, testing, and commissioning of a Single Circuit 220kV Transmission Line.The project is located at the proposed SAEL 240 MW Solar Power Plant at Sipur, spanning to the Dhama Substation. The award has been granted by a domestic entity, and the total contract consideration is Rs. 18,50,34,500/- (Rupees Eighteen Crore Fifty Lakh Thirty-Four Thousand Five Hundred Only), excluding GST.The terms and conditions for this project are detailed below:ParticularDetailsAwarding Entity NameSAEL Industries...

Adani Power Limited's Wholly Owned Subsidiary Incorporates Progressive-UP Atomic Energy Limited for Nuclear Sector Adani Power Limited has announced the incorporation of a new wholly owned subsidiary, Progressive-UP Atomic Energy Limited (PUAEL). This step deepens the company's commitment to the nuclear energy sector through its subsidiaries.PUAEL was incorporated on June 25, 2026, and is positioned as a specialist entity within the Nuclear Energy industry. The purpose of the newly formed company is to generate, transmit, and distribute power derived from nuclear and/or atomic energy.The incorporation structure involves Adani Atomic Energy Limited (AAEL), which is itself a wholly owned subsidiary of Adani Power Limited. PUAEL...

Big Tech Concerns Pull Down Nasdaq As Memory Chipmakers Surge Amid Inflation Jitters Wall Street experienced a mixed trading session, with major indices showing varied movements as investors digested fresh economic data and grappled with technological spending fears. The Nasdaq Composite fell by 0.46%, closing at 25,358.60, while the Dow Jones Industrial Average managed a slight gain of 0.14% to 51,920.62. The S&P 500 was largely flat, moving up only 0.01% to 7,357.49.Technology Stocks Face Headwinds Amid Hyper-scaler Spending Fears The technology sector faced particular headwinds, with the Nasdaq being on track for its biggest monthly decline since March 2025. Apple shares dropped 6.1% after it hiked prices for iPads and MacBooks to...

RBI Governor Meets Export Leaders: Policy Focus Set to Bolster Resilience Amid Global Trade Uncertainty RBI Signals Commitment to Support India's Export Ecosystem The Reserve Bank of India (RBI) held a high-level meeting in Mumbai on June 25, 2026, convening representatives from key industry bodies focused on export promotion. The event brought together members of various Export Federations, Export Promotion Councils, the Export Committee of the Confederation of Indian Industry (CII), and the Foreign Exchange Dealers' Association of India (FEDA).The meeting underscored the Reserve Bank’s direct engagement with stakeholders vital to national economic stability. Present at the crucial gathering were RBI Governor Shri Sanjay Malhotra...

SoftBank Shares Plunge Amid OpenAI IPO Delay Fears: Big Tech Valuation in Question SoftBank Stock Suffers Sharp Decline on OpenAI Listing Concerns SoftBank Group Corp.'s shares experienced a significant downturn, dropping as much as 13% after reports suggested that OpenAI might postpone its initial public offering (IPO) until next year. The concerns surrounding the potential delay sent shares into their largest intraday decline in over three months during Friday morning trading in Tokyo.The market had previously reacted very positively to expectations of a major financial windfall from OpenAI's anticipated debut. These positive views on the partnership helped SoftBank's stock soar to record highs, with its market capitalization...

Medplus Subsidiary Faces One Day Suspension of Drug License in Karnataka Optival Health Solutions Private Limited, a subsidiary of Medplus Health Services Limited, has received an order suspending its Drug License for one day for a store located in Karnataka. The suspension was issued by the Assistant Director of the Drugs Control Administration, Chikkamagalore Circle.The action pertains to a store situated at Mallandur Road in Chikkamagaluru, Karnataka. The directive regarding the license suspension was received on June 24, 2026.The regulatory action was initiated under Rule 65 of the Drugs and Cosmetics Act, 1940 and related Rules, 1945. The details surrounding the suspension order have been summarized as follows...

PDS Limited Receives Regulatory Approval for Registered Office Shift from Maharashtra to Haryana PDS Limited has received official approval for shifting its registered office from the State of Maharashtra to the State of Haryana, a move formalized after prior internal board and shareholder approvals. The company confirmed that it has secured the necessary regulatory clearance for this organizational transition.The approval was granted via an order dated June 23, 2026, issued by the Regional Director, Western Region -I. This approval follows previous notifications regarding the planned relocation of the registered office.PDS Limited stated that while the external approvals are in place, the company is currently engaged in filing all...

Gold Stabilizes Near $4,000 as Softer Inflation Data Undoes Rate Hike Bets Spot gold steadied near $4,000 an ounce on Thursday after fresh US inflation data softened expectations for aggressive interest-rate hikes by the Federal Reserve. This move capped a volatile week for bullion, which had recently slumped to lows not seen since November. The price action suggests that mounting fiscal concerns are beginning to ease pressure on precious metals.Impact of US Inflation Data on Interest Rates Treasury yields dipped after the release of the US personal consumption expenditures price index (PCE), which is the Fed’s favored inflation gauge. The data showed the PCE rose by a less-than-expected 0.4% in May. This result has recalibrated...

Magellanic Cloud Limited Announce Amalgamation of IVIS International and Detail Preferential Allotment Plan Magellanic Cloud Limited has announced significant corporate developments following its Board meeting held on June 25, 2026. The company confirmed the merger with IVIS International Private Limited, outlined details of a major capital raising through preferential allotment, and approved strategic provisions for subsidiary lending.The company is undergoing an amalgamation process with IVIS International Private Limited. The Scheme of Merger involves IVIS International, which was previously known as South India Projects Limited, merging into Magellanic Cloud Limited. The Appointed Date for the merger is April 1, 2026.The...

Indian Indices Hold Steady Ground Despite Resistance as Stocks Close for Muharram Holiday Indian stock markets concluded trading today, June 26, as both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) remained closed in observance of Muharram. Trading across equities, derivatives, currency derivatives, and interest rate derivatives was suspended across major segments on both exchanges. While equity markets halt for the day, commodity derivatives trading will resume during an evening session between 5:00 pm and 11:30 pm/11:55 pm. The market is scheduled to reopen and resume full trading activities on Monday, June 29.Market Performance and Sectoral Dynamics Indian benchmark indices achieved a marginal gain on the...

Musk Pushes 'Super App' Vision: X Money Expansion Targets Premium Users, Offers Cash Back and Savings Rates The transformation of social media into a comprehensive financial platform is accelerating as Elon Musk expands access to his digital payment venture, X Money. The payments tool, built directly within the X network, has been rolled out to a growing number of users in the United States. This move represents a pivotal step toward realizing Musk’s long-held ambition: converting X into an "everything app."The company confirmed the targeted release on Thursday through Dhruv Batura, who leads X Money. Batura indicated that this current phase is designed specifically to collect user feedback and iron out technical issues before a much...