Markets

Polycab India Receives ITAT Order Upholding Relief on Income Tax Assessments Polycab India Limited has received an order from the Income Tax Appellate Tribunal (ITAT) regarding assessments made by the Income Tax Authority. The ITAT dismissed the appeal filed by the Income Tax Department, thereby upholding the relief granted previously by the CIT(A), and the company confirmed that it does not expect any adverse impact on its financials or operations resulting from the order.The ITAT Order pertains to Section 254 of the Income Tax Act, 1961, covering Assessment Years ranging from 2015-16 to 2023-24, which correspond to Financial Years 2014-15 to 2022-23.The matter arose following earlier intimations regarding the assessment order(s)...

Winsome Textile Industries Ltd has approved a comprehensive plan for expanding its Dye House and modernizing its spinning machinery, aiming to significantly boost production capacity and enhance environmental sustainability. The project was sanctioned by the Board of Directors following a meeting held on June 25, 2026.The planned expansion encompasses an overall upgrade of the textile operations. Key components include modernizing spinning facilities through the installation or upgrading of specialized machinery and equipment, expanding Dye House capacity, and reinforcing the company’s environmental infrastructure. The investment also covers augmenting effluent recycling capabilities, upgrading the existing Effluent Treatment Plant...

Waterways Leisure IPO Hits Strong Subscription Mark: Check How Much the Tourism Debut Is Worth The initial public offering (IPO) of Waterways Leisure, a company operating in the leisure and tourism sector, has achieved a solid subscription level after three days of trading. The listing event signals continued investor interest in niche travel and cruise operations.IPO Reaches 1.36 Times Subscription on Day Three As per data gathered from the NSE, the Waterways Leisure IPO saw significant traction, reaching a total subscription rate of 1.36 times by the close of the sale process. The company was offering a total of 41.84 lakh shares to the market. This response indicates that demand for the stock is exceeding its current offering size...

China-Backed Hybrid Venture Surges into India, Securing $370 Million Investment Amid Global FDI Shift A major manufacturing breakthrough is set as Horse Powertrain Ltd., a hybrid-engine venture backed by China’s Zhejiang Geely Holding Group Co., prepares to invest approximately $370 million in Indian operations. This deal marks one of the largest manufacturing investments from a Chinese-linked entity in recent years, signaling renewed confidence in India's industrial ecosystem.The investment will allow Horse Powertrain to integrate advanced hybrid powertrains and engines into the French carmaker’s existing production infrastructure in India. The move aligns with market efforts by global automakers seeking stable domestic supply chains...

Ms. Shefali Kesarwani Resigns as Independent Director of Fruition Venture Ltd Fruition Venture Ltd has announced the resignation of Ms. Shefali Kesarwani, a Non-Executive Independent Director, with effect from June 25, 2026.The company confirmed that Ms. Kesarwani tendered her resignation due to personal reasons and other commitments.Ms. Shefali Kesarwani’s departure includes relinquishing all roles as an Independent Director across the Company, including relevant Board Committees. The firm expressed appreciation for the services rendered by Ms. Kesarwani during her tenure.The details regarding the director's affiliations before her resignation are summarized below:AffiliationRole at Fruition Venture Ltd (FVL)Status Change...

Alibaba Sues Pentagon Over Designation as US Tech Scrutiny Intensifies Chinese technology giant Alibaba has initiated a major lawsuit against the US Department of Defense (DoD). The company is seeking removal from the DoD's critical list, which designates entities affiliated with China’s military and defence industrial base.The designation, first announced on June 8, places significant reputational costs on companies listed. It prevents these entities from securing certain US defence contracts. Alibaba filed its petition in the San Jose division of the US District Court for the Northern District of California this week.Grounds of Lawsuit: Challenging Pentagon’s Designation Alibaba contends that the DoD's decision lacks both "basis...

India's Oil Import Bill Jumps Nearly 70% as Global Crude Spike Fueled by Middle East Tensions Massive Surge in Crude Import Costs India’s crude import bill witnessed a dramatic escalation, surging 69.8 percent to $35.5 billion during the April-May period. This sharp increase is primarily attributed to global crude prices breaching the $100 per barrel mark due to ongoing tensions stemming from the Iran war.This cost hike occurred despite some moderating factors, including a 1.4 percent decline in the volume of crude imports. Volumes dropped to 41.7 million tonnes, down from 42.3 million tonnes in the previous year.As the world's third-largest crude importer, India relies on imports for more than 85 percent of its total requirement...

CSB Bank Approves Employee Stock Option Scheme 2026 CSB Bank Limited announced the approval of its Employee Stock Option Scheme 2026 (ESOS 2026), following the review and recommendation by the Nomination and Remuneration Committee (NRC). The scheme was approved by the Board of Directors during a meeting held on June 25, 2026.The ESOS 2026 provides options to eligible employees of the Bank. While the scheme has been approved by the Board, it remains subject to the subsequent approval of the Bank’s members. The Nomination and Remuneration Committee (NRC) will serve as the Compensation Committee for the supervision and administration of the ESOS 2026.The scope and structure of the stock options are detailed below:ParameterDetail...

Government Securities Auction Sees Mixed Results as Primary Dealers Accept Full Underwriting Obligation The Reserve Bank of India (RBI) has released the comprehensive results of its recent Government Stock auction, detailing the allocation and performance across two significant instruments for investors. The auction saw varied levels of participation in competitive bidding for the designated government securities, with full underwriting commitment received from primary dealers.Auction Performance Breakdown: GS 2040 vs GS 2076 The auction focused on two tranches: the 6.68% GS 2040 and the 7.43% GS 2076. The Notified Amount for both securities was set at ₹17,000 crore and ₹11,000 crore, respectively. These amounts represent the total...

Founder Promoter of GR Infraprojects Limited Passes Away GR Infraprojects Limited has announced the sad demise of Mr. Vinod Kumar Agarwal, his Chairman Emeritus and a foundational figure within the organization. The company shared this profound news on June 25, 2026.Mr. Vinod Kumar Agarwal’s passing marks a significant loss for GR Infraprojects Limited. The company expressed its deep condolences regarding the death of Mr. Agarwal, acknowledging his invaluable guidance and contributions to the firm since its inception.As a result of this event, Mr. Vinod Kumar Agarwal has ceased to be part of the promoter group of the Company, solidifying his long-standing association with the organization. GR Infraprojects Limited, formerly known as...

G R Infraprojects Mourns Passing of Founder Promoter, Chairman Emeritus Vinod Kumar Agarwal G R Infraprojects Ltd has announced the sad demise of Mr. Vinod Kumar Agarwal, who served as the Chairman Emeritus and Founder Promoter of the company. The passing was confirmed on June 25, 2026.The company conveyed its deep condolences regarding the loss of Mr. Vinod Kumar Agarwal. G R Infraprojects acknowledged his invaluable guidance and contributions to the organization since its inception.Following this event, it is noted that Mr. Vinod Kumar Agarwal has ceased to be a promoter of the Company.GRINFRA Stock Price Movement As of 3:16 PM, shares of G R Infraprojects Limited are slipping by 3.40% in live trading, currently valued at...

LGT Global Hospitality Opens New Branch in Nagercoil, Expanding Integrated Travel Services in Tamil Nadu LGT Global Hospitality Limited has inaugurated a new branch in Nagercoil, located in the Kanyakumari district of Tamil Nadu. The branch commenced operations on June 24, 2026, and is strategically positioned at 30-A, Cave Street, Duthie School Road, near WCC College, Nagercoil 629001.The new facility is set to provide the company's comprehensive suite of travel and hospitality services to customers within the Kanyakumari region. This expansion contributes to LGT Global Hospitality Limited's growing regional footprint, which includes cities such as Coimbatore, Pune, and Vijayawada.Services Offered at the Nagercoil Branch The branch...

Pearl Global Industries Attributes Significant Share Volume Increase to Market CircumstancesPearl Global Industries Ltd. has issued a clarification regarding the recent significant movement observed in the volume of its traded shares, stating that the increase is entirely attributable to market circumstances.The company confirmed that it was aware of inquiries concerning the volume of its security at the Exchange. In response, Pearl Global Industries stated that it does not possess any Price Sensitive Information that would require disclosure to Stock Exchanges regarding this matter.According to the company, the rise in the trading volume is driven by market forces, which are beyond the control or knowledge of Pearl Global...

Repco Home Finance Completes Redemption of Rs 50 Crore Unlisted Commercial Papers Repco Home Finance Ltd has confirmed the full repayment of its unlisted Commercial Papers (CP) aggregating Rs 50 crores. The maturity proceeds were paid to the holders of these Commercial Papers on June 25, 2026, marking the complete redemption of the instrument.The transaction relates to the unlisted Commercial Papers bearing ISIN INE612J14588. Repco Home Finance confirmed that the requisite payment was made on the maturity date, concluding the obligation related to these debt instruments.This completion signifies the adherence to financial commitments regarding the noted commercial paper issuance.Key details of the redemption are summarized below...

Nephrocare Subsidiary Acquires Dialysis Center Assets in Philippines for PhP 151.6 Million Nephrocare Health Care Services, Philippines Inc., an overseas step-down wholly-owned subsidiary of Nephrocare Health Services Limited, has entered into an Asset Transfer Agreement (ATA). The agreement, dated June 24, 2026, involves the acquisition of identified assets belonging to Curis Dialysis and Kidney Care Center.The transaction centers on the acquisition of a dialysis center located in Orion, Bataan 2102 - Region III (Central Luzon), Philippines. Nephrocare's subsidiary acquired these assets for a total consideration of PhP 151,600,000.The agreement outlines the parties and the terms of the transaction. The Purchaser is Nephrocare...

Hanman Fit Ltd Boards Approve FY2026 Financial Results and Authorizes Signatory Hanman Fit Limited, formerly known as Powerhouse Gym & Wellness Limited, has approved its Audited Financial Results for the financial year ended March 31, 2026. The decision was made by the Board of Directors during a meeting held on Friday, May 29, 2026.The company’s Board reviewed and adopted several key financial documents relating to the fiscal year. These approved materials include the Balance Sheet as of March 31, 2026, the Profit and Loss Account, Cash Flow Statement, and related notes, all of which were vetted by the Audit Committee.During the meeting at the registered office located in Mumbai, the Board also granted specific authorization...

Jindal Saw Limited's API Licenses Reinstated, Authorizing Use of Monogram on Seamless Pipes Jindal Saw Limited has successfully demonstrated all necessary corrective and preventive measures to the American Petroleum Institute (API), leading to the full reinstatement of its API licenses. Consequently, the company is now authorized to affix the API Monogram on its seamless pipes, a development critical to its global business operations.The reinstatement of these licenses was confirmed by the American Petroleum Institute and became effective from June 24, 2026. This outcome follows Jindal Saw Limited's commitment to addressing prior requirements, allowing it to resume certified manufacturing activities for seamless pipes.The...

Titan Company Ltd Fully Redeems ₹1,000 Crore Commercial Paper Titan Company Ltd has completed the full redemption of its Commercial Papers (CPs), confirming the successful maturity and payoff of the debt instruments. The CPs totaled ₹1,000 crore (Rupees One Thousand Crore) and were fully redeemed on June 25, 2026.The CPs, which bore the ISIN INE280A14534, had been originally issued by Titan Company Ltd on April 16, 2026. The company confirmed that all maturity proceeds related to these Commercial Papers were duly paid to their holders on the date of redemption.TITAN Stock Price Movement As of 3:07 PM, shares of Titan Company Limited are shedding value in live trading, dipping 0.72% and currently holding at ₹4292.6. The equity has...

Abril Paper Tech Ltd Receives Notice for Appeal Hearing Regarding Demand Order Abril Paper Tech Ltd., formerly operating as Abril International, has received a communication scheduling an appeal hearing before the Office of the Appellate Authority, Gujarat. The matter pertains to a demand order related to alleged violations involving vehicle interception and ewaybill production.The company received the notification regarding the hearing on June 24, 2026, at 1:11 p.m. The communication concerns appeal proceedings associated with an application filed on December 15, 2021.The details surrounding the violation and the subsequent demand order are as follows:ParticularsDetailsAuthority ConcernedOffice of the Appellate Authority...

Graphite India Limited Appoints Dhaval Morparia as Senior Vice President and CHRO Graphite India Limited has appointed Mr. Dhaval Morparia as Senior Vice President and Chief Human Resources Officer (CHRO), effective June 24, 2026. This appointment introduces significant senior management expertise to the company's human capital function.Mr. Morparia brings extensive experience in HR across various industries, with over 19 years dedicated to the field. Prior to his appointment at Graphite India Limited, Mr. Morparia served as Head HR at Livguard Drivetrain Pvt. Ltd.The newly appointed executive has a background spanning several prominent organizations in the industry. His previous roles include experience at Tata Play Ltd., Suzuki...