Markets

Chip Giants Face Cooling Trend; Asia Sinks as Markets Price In Shift in Fed Rate Hikes Asian equity markets experienced a pullback early trading after heavyweight chip stocks gave back significant gains from Thursday’s rally. A gauge measuring Asian equities slipped by 1.1%, while South Korea’s tech-heavy Kospi index dropped over 3%. These regional declines occurred as Wall Street navigated a volatile session, highlighting investor unease regarding the sustainability of high valuations in technology giants.Technology Volatility Shapes US Market Performance The S&P 500 finished flat, unable to sustain an earlier rally fueled by Micron Technology Inc. However, volatility persisted across the tech sector. Apple Inc. shares slid 6.1%...

Jeyyam Global Foods Limited Appoints New Compliance Officer, Discusses NSE Fine ImpositionJeyyam Global Foods Limited has made significant organizational changes, approving the appointment of Ms. M. Nithya as its Company Secretary and Compliance Officer. The company's Board of Directors also met recently to review a fine imposed by the National Stock Exchange of India (NSE) related to compliance delays.The appointment of Mrs. M. Nithya was approved by the Board following the recommendation of the Nomination and Remuneration Committee. She assumes the role of Company Secretary and Compliance Officer, effective from June 25, 2026.Mrs. M. Nithya is an Associate Member of the Institute of Company Secretaries of India (ICSI) with...

Bank Holiday Alert: Muharram Observation Forces Closures; Know Which Cities See Branch Shutdown on June 26, 2026 Banks in multiple cities across India will remain closed on June 26, 2026. The closure is mandated by the Central government as a gazetted holiday to mark Muharram, the Islamic New Year and the observance of Ashura. This observance is one of the most significant dates in the Islamic calendar globally.While physical bank branches will be closed in several locations, digital financial services will remain fully functional. The Reserve Bank of India has confirmed that customers can rely on internet banking, mobile banking, UPI platforms, and ATMs throughout the holiday period.Cities with Bank Closures on Muharram Day The...

Tokyo CPI Surge Fuels BOJ Rate Hike Trajectory as Underlying Inflation Accelerates Japan's key inflation indicator picked up significantly for the first time in eight months, keeping the Bank of Japan (BOJ) on a trajectory to raise interest rates further. New data released on Friday from the Ministry of Internal Affairs and Communications shows that underlying inflationary pressures are building despite ongoing government relief measures.The consumer price index (CPI) excluding fresh food rose 1.6% in June compared to the previous year in the capital. This reading was consistent with the median forecast among economists surveyed by Bloomberg. The overall CPI for Tokyo rose 1.7%.Analysis of Key Inflation Gauges A critically watched...

Transteel Seating Technologies Lands Rs 41,21,797 Order from Zyeta Private Limited for Modular Furniture SITC Transteel Seating Technologies Limited has secured a significant order worth Rs 41,21,797 from Zyeta Private Limited. The contract pertains to the Supply, Installation, Testing, and Commissioning (SITC) of Modular Furniture.The business arrangement falls under domestic contracts. Transteel will execute the services for Zyeta Private Limited, with a specified timeline suggesting completion is expected by August 2026.Details regarding this contractual engagement have been summarized below:AspectDetailAwarding EntityZyeta Private LimitedOrder NatureSITC of Modular FurnitureNature of ContractDomesticContract...

Triveni Engineering Secures In-Principle Approval for Listing 14.65 Lakh Equity Shares Triveni Engineering & Industries Limited has received in-principle approval from both the National Stock Exchange of India Limited (NSE) and BSE Limited for the listing of additional equity shares, which were allotted pursuant to a Scheme of Arrangement. The total number of newly issued shares is 14,65,048 fully paid up equity shares of Re. 1/- each.The approval was granted by both Stock Exchanges on June 24, 2026. This allotment was made to the public shareholders of Sir Shadi Lal Enterprises Ltd. (SSEL) and forms part of the broader Scheme involving Triveni Engineering & Industries Ltd. (TEIL), SSEL, and Triveni Power Transmission Ltd. (TPTL)...

Manaksia Coated Metals' Unsecured Creditors Approve Scheme of Amalgamation with JPA Snacks Pvt Ltd Manaksia Coated Metals & Industries Limited announced that its unsecured creditors approved the Scheme of Amalgamation involving JPA Snacks Private Limited. The resolution was ratified by the creditors, meeting the statutory majority required under Section 230(6) of the Companies Act, 2013.The meeting of the Unsecured Creditors for Manaksia Coated Metals & Industries Limited was held on June 9, 2026, through video conferencing (VC)/Other Audio Visual Means (OAVM). The meeting involved key personnel from the company, including Ms. Shruti Agarwal, Company Secretary, and Mr. Mahendra Kumar Bang, Chief Financial Officer, alongside attendees...

The New India Assurance Approves Revision to Dividend Record Date for FY 2025-26<p>The Board of Directors of The New India Assurance Company Limited, a Government of India Undertaking, approved a revision to the record date set for the payment of dividends. This decision was made during a Board meeting held in Mumbai on Thursday, June 25, 2026.</p><p>Previously, the company had scheduled the record date for dividend payment as September 4, 2026. Following a review and revision of the AGM schedule, the board decided to change this date. The new record date for the payment of dividends pertaining to the fiscal year 2025-26 has been set as July 10, 2026.</p><p>The Board meeting commenced at 3:30 p.m. and concluded at 5:15 p.m...

Promoter Group Entities Purchase Equity in MSP Steel & Power Limited via Open Market MSP Steel & Power Limited saw multiple promoter group entities acquiring equity shares through open market purchases. The acquisitions were carried out by Ginny Traders Private Limited, Sampat Marketing Company Pvt Ltd, and Ilex Private Limited.The companies involved in the transactions include Ginny Traders Private Limited, Sampat Marketing Company Pvt Ltd, and Ilex Private Limited. These promoter group entities purchased a combined total of over 20 lakh equity shares in MSP Steel & Power Limited during the period specified by the transactions.Details regarding the purchases made by the promoter group are presented below:Promoter EntityDate of...

Accelya Solutions Striking Off UK Subsidiary as Part of Group Restructuring Accelya Solutions India Limited has resolved to strike off Accelya Solutions UK Limited (ASUK), its wholly owned subsidiary in the United Kingdom. The move is aimed at simplifying the overall structure of the Accelya group.The Board of Directors approved the resolution, noting that ASUK was not a material subsidiary of the Company. The company stated that procedural formalities related to the voluntary winding up and striking off of ASUK will be completed according to applicable laws.ASUK recorded nil income and nil turnover during the financial year 2025-26.The details regarding the status of the UK entity and the expected timeline are as follows...

Pavan Kumar Gupta Appointed as MD & CEO of Religare Housing Development Finance Corporation Limited The board of Religare Housing Development Finance Corporation Limited (RHDFCL) has approved the appointment of Mr. Pavan Kumar Gupta as the Managing Director (MD) and Chief Executive Officer (CEO). The decision was made following a meeting held by RHDFCL's Board of Directors on June 17, 2026.Mr. Gupta is set to assume the role of MD & CEO effective July 01, 2026. However, his appointment remains subject to the approval of shareholders of RHDFCL, which is expected to be obtained in due course. The Board also approved Mr. Gupta’s joining date as June 25, 2026, during which he will serve as 'MD & CEO designate'.Religare Enterprises...

RBI Slams Nabapalli Cooperative Bank with ₹3 Lakh Penalty Over Critical KYC Failures The Reserve Bank of India (RBI) has levied a significant monetary penalty against The Nabapalli Cooperative Bank Limited, West Bengal. This action follows supervisory findings related to non-compliance with critical 'Know Your Customer (KYC)' directions issued by the central regulator.The RBI imposed the fine through an official order dated June 22, 2026. The bank has been penalized ₹3 lakh (Rupees Three Lakh only).Details of the Monetary Penalty Imposed The penalty was levied in exercise of powers vested in the RBI under the Banking Regulation Act, 1949. Specifically, the action falls under Section 47A(1)(c) read with Sections 46(4)(i) and 56 of...

Secured Creditors Unanimously Approve Amalgamation Scheme involving Manaksia Coated Metals and JPA Snacks The Scheme of Amalgamation involving Manaksia Coated Metals & Industries Limited (the Transferee Company) and JPA Snacks Private Limited (the Transferor Company) has been approved by the Secured Creditors, according to a report submitted by Chairperson Parikshit Poddar. The resolution was passed during the meeting of the Secured Creditors held on June 9, 2026.The meeting, conducted via video conferencing or other audio visual means (VC/OAVM), included representatives from the company and its stakeholders. Shruti Agarwal, Company Secretary, joined the meeting from Kolkata, while Mr. Mahendra Kumar Bang, Chief Financial Officer...

United Heat Transfer Limited invests in Saraswat Co-operative Bank strengthening banking relationshipUnited Heat Transfer Limited (UHTL) has invested in Saraswat Co-operative Bank Limited, significantly increasing its equity shareholding in the multi state cooperative bank. The investment, which was approved by the company's Board of Directors and completed recently, is primarily aimed at bolstering UHTL’s ongoing relationship with the institution and fulfilling specific banking requirements.The company made a payment for the subscription of 5,00,000 Equity Shares in Saraswat Co-operative Bank Limited. The shares were acquired at a face value of Rs 10/- each, totaling an investment of Rs 50,00,000/- (Rupees Fifty Lakhs only).This...

Omkar Speciality Chemicals Approves Sale of Two Properties in Thane Omkar Speciality Chemicals Limited has announced that its Board of Directors approved the sale of two plots located in the MIDC Industrial Area of Badlapur, District Thane. The decision was made during a board meeting held on June 25, 2026.The company has sanctioned the disposal of properties situated within the MIDC Industrial Area. The details of the plots approved for sale are as follows:Plot NumberSize (Square Meters)LocationW 83880MIDC Industrial Area, Badlapur, District ThaneW 93720MIDC Industrial Area, Badlapur, District ThaneThe Board meeting reviewed and approved these transactions, with the company set to keep the relevant exchanges informed of...

Mittal Life Style Limited Board Approves Equity Share Consolidation at 10:1 Ratio Mittal Life Style Limited has approved a significant restructuring of its share capital, following the decision by the Board of Directors at a meeting held on Thursday, June 25, 2026. The company has opted for the consolidation of equity shares and subsequent alteration of its Memorandum of Association.The Board approved the proposal to consolidate Equity Shares in a 10:1 ratio. Under this structure, ten Equity Shares with a face value of Re. 1/- (Rupee one only) each will be consolidated into one Equity share with a face value of Rs. 10/- (Rupees Ten Only).This consolidation affects the authorized and issued capital structure of Mittal Life Style...

Hind Rectifiers Limited incorporates wholly-owned subsidiary in UAE Hind Rectifiers Limited has successfully incorporated a new entity in the United Arab Emirates. The company established Hirect Global Holdings Limited, which operates from the Dubai International Financial Centre, marking a strategic expansion into the Middle Eastern market.The incorporation of the wholly-owned subsidiary falls under the category of an investment holding company. Hirect Global Holdings Limited is structured to oversee global investments for Hind Rectifiers Limited.Key details regarding the new entity are as follows:ParticularsDetailsEntity NameHirect Global Holdings Limited (Hirect GHL)Incorporation Date and CountryJune 25, 2026, United...

Tata Communications Provides Update on Data Centre Fire Incident; Operations Remain Unaffected Tata Communications Limited has reported on the status following a fire incident that occurred at its data centre facility located in Next-Gen Tower, Greater Kailash-1, New Delhi 110048. The company confirmed it immediately activated its business continuity protocols to ensure service continuity and minimize disruption to customers relying on services from the premise.The company has been actively engaging with affected clients following the incident. It reported that a majority of customer data impacted by the fire has now been successfully recovered, although some limited cases still require further validation and rebuilding efforts...

PPAP Automotive Limited Appoints Meeta Makhan as Independent Director; Reconstitutes Key Board Committees PPAP Automotive Limited announced key changes within its board structure, appointing Mrs. Meeta Makhan as an Additional Director (Independent). The company has also revised the composition of its Audit Committee, Nomination & Remuneration Committee, and Stakeholders Relationship Committee.Mrs. Meeta Makhan was appointed as the Additional Director (Independent) effective June 25, 2026. She is set to hold office until the conclusion of the Annual General Meeting and as an Independent Director subject to shareholder approval for a term spanning two consecutive years, up to June 24, 2028.Experienced Leader Appointed to PPAP Board...

JHS Svendgaard Laboratories Approves Modification to Preferential Issue Proceeds Utilization JHS Svendgaard Laboratories Limited has approved a modification and clarification regarding the utilization of proceeds raised through its preferential issue, subject to shareholder approval. The Board of Directors confirmed the change, which is intended to provide greater flexibility in deploying funds towards capital expenditure, business expansion, strategic investments, and growth initiatives while achieving the original fundraising objectives.The Company’s board meeting addressed the variation in the use of the funds previously approved by shareholders via Postal Ballot on June 23, 2025. The original approval for raising funds through the...