Markets

RBI Slams ₹1 Lakh Penalty on Modern Co-operative Bank After Major KYC and Exposure Limit Breaches The Reserve Bank of India (RBI) has imposed a significant monetary penalty on The Modern Co-operative Bank Limited, Chalisgaon. The action addresses serious non-compliance found by the regulator concerning exposure norms and mandatory Know Your Customer (KYC) procedures at the institution.In line with regulatory oversight, RBI issued the penalty order dated June 23, 2026. The bank has been fined ₹1 lakh (Rupees One Lakh only). This penalty was levied under powers granted by Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.Key Regulatory Breaches Identified by RBI The penalty stems from supervisory...

Frog Innovations Limited Announces Book Closure Ahead of Annual General Meeting Frog Innovations Limited has announced that the Register of Members and Share Transfer Books will be closed for a specific period ahead of its upcoming Annual General Meeting (AGM). The company confirmed the details regarding the meeting and related operational schedules.The AGM is scheduled to be held on Wednesday, July 22, 2026, at 03:30 P.M. (IST), which will be conducted through video conferencing or other audio visual means (OAVM).To facilitate the smooth conduct of the Annual General Meeting, the company specified a dedicated period for book closure and voting procedures.Key dates related to the AGM and share transfer processes are as follows...

Indiabulls Board Grants 30,09,036 Stock Options Under Employee Scheme The Compensation Committee of the Board of Directors of Indiabulls Limited has granted a significant tranche of stock options under the 'Indiabulls Limited Employee Stock Option Scheme - 2025.' The decision was made during a meeting held on June 25, 2026.The company granted 30,09,036 stock options to employees. These options represent an equal number of fully paid-up equity shares, each having a face value of Rs. 2/-. The exercise price set for these options is Rs. 26 per share. This decision was based on the latest available closing market price on the National Stock Exchange of India Limited as of June 25, 2026, which was Rs. 25.75.The terms of the granted stock...

Rajshree Sugars & Chemicals Announces Book Closure and Details for 40th Annual General Meeting Rajshree Sugars & Chemicals Limited has announced the book closure period for its equity shares in connection with the upcoming 40th Annual General Meeting (AGM). The company provided details regarding the schedule, voting periods, and meeting logistics.The book closure for the equity shares of Rajshree Sugars & Chemicals Limited is scheduled from July 17, 2026, to July 23, 2026, inclusive. This action relates to the scheduling of the company's annual gathering.The 40th Annual General Meeting is set to take place on Thursday, July 23, 2026, at 11:00 AM. The meeting will be conducted through Video Conferencing or other Audio-Visual Means...

Astral Approves Composite Scheme of Arrangement Involving Demerger and Amalgamation Astral Limited has approved a strategic move involving a Composite Scheme of Arrangement that includes both a demerger and an amalgamation among its three companies: Astral Limited, Astral Chemie Limited, and Al-Aziz Plastics Private Limited. The restructuring aims to enhance specialized focus and operational efficiency across the company’s different business verticals.The Board meeting held on June 25, 2026, approved the Scheme, which encompasses the demerger of the Chemicals Business Undertaking from Astral Limited into its subsidiary, Astral Chemie Limited, along with the amalgamation of Al-Aziz Plastics Private Limited into Astral Limited. The...

Sun Pharma Advanced Research Company Terminates License Agreement with CMS Bridging DMCC Sun Pharma Advanced Research Company Limited has announced the mutual termination of a License Agreement with CMS Bridging DMCC (CMS). The agreement, which was originally executed on November 05, 2019, concluded on June 25, 2026.The License Agreement focused on the development and commercialization of several products in Mainland China, Hong Kong, Macao, and Taiwan. These products included Xelpros TM, Elepsia TM, Taclantis TM, PDP-716, and SDN-037.The company stated that there is no material impact on its financial position, operations, or other activities following the termination of the agreement with CMS Bridging DMCC.Key details regarding...

Suryoday Bank Board Approves Rs 300 Crore Capital Raising Capacity and Reappoints Investor DirectorSuryoday Small Finance Bank Limited's Board of Directors, during a meeting held on June 25, 2026, approved several key strategic decisions, including granting the company the capacity to raise up to Rs 300 Crore through equity instruments and fixing a record date for dividend entitlement. The board also addressed the re-appointment of an existing non-executive director and modifications to the ESOP scheme.The Board meeting focused heavily on strengthening the bank's capital structure and governance framework. Shareholders were sought to provide enabling approval for raising funds up to Rs 300 Crore through a combination of equity...

Vedant Fashions Approves Internal Auditor Re-appointment and Stock Option Grant Vedant Fashions Limited has announced key outcomes from its Board of Directors meeting, approving the re-appointment of an internal auditor and granting a substantial number of stock options to eligible employees. The company's share capital structure was also updated following the allotment of new equity shares against exercised options.The Board meeting reviewed several matters, including the appointment of M/s Grant Thornton Bharat LLP as the Internal Auditor (External) for the Financial Year 2026-27. Additionally, the board approved the grant of stock options under the VFL Employee Stock Option Scheme 2018, known as 'Scheme Pratham'.The Nomination &...

Meesho Limited loses Chief HR Officer as senior management personnel resigns Meesho Limited has confirmed that Mr. Ashish Kumar Singh, who holds the position of Chief Human Resources Officer and is classified as Senior Management Personnel within the company, tendered his resignation. The departure occurred on June 25, 2026.MEESHO Stock Price Movement On Thursday, Meesho Limited shares shed value, closing at ₹186.45 after slipping 1.36%. The stock saw substantial activity during the session, with a total traded volume amounting to 23.94 million shares.

RBI Unlocks Money Market Reforms: Draft Master Directions Aim to Surge Term Liquidity and Boost Dealer Participation The Reserve Bank of India (RBI) has released the draft Master Direction governing the Call, Notice, and Term Money Markets for 2026. This significant regulatory move underscores the central bank's commitment to strengthening the depth and functionality of India's money markets. The directions build upon previous announcements regarding developmental and regulatory policies from April 8, 2026.Enhancing Monetary Policy Transmission The draft Master Directions are specifically designed to bolster the maturity segments of the money market. An active-term money market plays a crucial role in enhancing monetary policy...

Nila Infrastructures Approves Re-appointment of Revant Bhatt as Independent DirectorNila Infrastructures Limited has approved the re-appointment of Mr. Revant Bhatt as a Non-executive Independent Director for a second consecutive term. The appointment is effective from October 7, 2026, and is subject to shareholder approval by way of a special resolution at the upcoming Annual General Meeting.The Board of Directors, based on the recommendation of the Nomination and Remuneration Committee, approved the re-appointment of Mr. Revant Bhatt (DIN:09197805) for a five year term in the company's directorship.Mr. Bhatt brings extensive experience to the role, spanning over a decade in the real estate and construction sector. His...

Thermax Limited Establishes Wholly Owned Step-Down Subsidiary in Middle East Market Thermax Limited has expanded its global footprint by establishing a new wholly owned step-down subsidiary in the Middle Eastern region. The entity, named Thermax Integrated Middle East L.L.C., was incorporated in Dubai and subsequently received its Certificate of Incorporation on June 25, 2026.The new company is held by Thermax Engineering Singapore Pte. Ltd. (TESPL), which itself is a wholly owned subsidiary of Thermax Limited. This strategic move allows the parent entity to deepen its presence and operational capability in projects across the Middle East.Thermax Integrated Middle East L.L.C. was established with 100% shareholding by TESPL. The...

Manglam Infra Secures Rs 7.17 Crore Contract for Highway Rehabilitation Projects under MORTHManglam Infra & Engineering Limited has secured a Letter of Award (LOA) from the Ministry of Road Transport & Highways (MORTH), Regional Office, Maharashtra and Goa. The contract involves providing Consultancy Services for Independent Engineer services related to the Operation and Maintenance of several critical segments of NH-66 (Old NH-17) in Maharashtra.The awarded projects focus on the rehabilitation and up-gradation of NH-66 into a four-lane road with paved shoulders across multiple sections, aiming to improve infrastructure quality. The contract covers three specific stretches:Rehabilitation and up-gradation of NH-66 (Old NH-17) from...

Final Order Received for Composite Scheme of Amalgamation Involving Gujarat Energy Limited Gujarat Gas Limited, now operating as Gujarat Energy Limited (GEL), has received the final order sanctioning a major Composite Scheme of Amalgamation and Arrangement. The scheme involves several entities and results in the creation of GSPL Transmission Limited (GTL) as the Resulting Company.The Final Order was received on April 17, 2026, from the Ministry of Corporate Affairs (MCA). Under this arrangement, Gujarat Energy Limited is identified as the Transferee Company.The companies involved in the Composite Scheme include:Gujarat State Petroleum Corporation Limited (GSPC), designated as Transferor Company 1 Gujarat State Petronet Limited...

RBI Releases Draft Master Direction for Government Security Market Transactions in 2026 The Reserve Bank of India (RBI) has released the draft Master Direction on Secondary Market Transactions in Government Securities, 2026. This move signifies a major regulatory step to consolidate and enhance the clarity surrounding how secondary market trades in government securities are conducted across the financial ecosystem.This crucial directive aims to streamline compliance procedures for all stakeholders involved in these markets. By bringing extant instructions under one unified framework, the RBI is setting a single reference point for banks and investors.Consolidating Regulatory Framework for Govt Securities Trading Secondary market...

Vibhor Steel Tubes Establishes Wholly Owned Subsidiary for Infrastructure Steel Products Vibhor Steel Tubes Limited, a major player in the steel industry, has incorporated Viyom Steel Infra Private Limited as its wholly owned subsidiary. The creation of this specialized entity is set to focus exclusively on high-quality products serving the infrastructure sector.The Ministry of Corporate Affairs (MCA) issued the Certificate of Incorporation for Viyom Steel Infra Private Limited on June 25, 2026. This new company, incorporated in Hisar, Haryana, India, falls under the Steel Products industry and is intended to support specialized manufacturing within the infrastructure market.Vibhor Steel Tubes Limited holds 100% of the shareholding...

Borosil Renewables’ R&D Unit Receives Prestigious DSIR Recognition from Government of India Borosil Renewables Limited has received prestigious recognition for its in-house Research and Development (R&D) units by the Department of Scientific and Industrial Research (DSIR), which is part of the Ministry of Science and Technology, Government of India. This acknowledgment highlights the quality and innovation inherent in the company’s R&D activities.The DSIR recognition applies to the R&D unit located at Plot no. 7, Sr. No. 234, 235 & 245, Indialand Global Industrial Park Road, Phase-1, Hinjewadi, Pune, Maharashtra. This status is intended to encourage the company in maintaining its R&D activities aligned with international standards...

Paramount Communications Receives In-Principle Approval for Preferential Issue of Equity Shares and Warrants Paramount Communications Limited has received in-principle approval from both BSE Limited and National Stock Exchange of India Limited (NSE) for a preferential issue involving equity shares and unlisted convertible warrants. The issuance is targeted at Non-Promoters and Promoters, respectively.The company secured the approvals for the dual offering, which includes 21,997,664 equity shares to be issued to Non-Promoters and 7,200,000 unlisted convertible warrants intended for Promoters. These securities are being offered on a preferential basis.Under the terms of the issue, the details regarding the proposed allotment stand as...

Greenleaf Envirotech Secures Rs 1.92 Crore Contract for ZLD Based CETP ProjectGreenleaf Envirotech Limited has secured a civil construction contract valued at approximately Rs 1.92 Crores from M/s. Advent Envirocare Private Limited. The contract pertains to the development of a Zero Liquid Discharge (ZLD) based Common Effluent Treatment Plant (CETP) with a capacity of 2000 KLD in Tamil Nadu, India.The work order details confirm that Greenleaf Envirotech will execute civil, structural, and allied works for the CETP located at SIPCOT, Perundurai, Tamil Nadu. The company is scheduled to commence the project on June 26, 2026, with a timeline set for completion within four months.The contract details highlight that payment will be...

LMW Limited Completes Acquisition of Additional Shares in Wholly Owned Subsidiary LMW Limited has announced the completion of the transaction involving the acquisition of additional shares in its wholly owned subsidiary, LMW Holding Limited. The company confirmed that the acquisition process is now complete.The subsidiary, LMW Holding Limited, is based in the United Arab Emirates. This transaction follows an earlier communication issued by the Company on May 20, 2026, regarding the acquisition of shares in the entity.Following the successful completion of this transaction, LMW Limited confirmed that it will maintain 100% ownership of LMW Holding Limited.LMW Stock Price Movement LMW Limited shares edged higher on Thursday, closing...