Markets

Velox Shipping Acquires 63% Stake in Divinus Express Logistics to Expand Market Operations Velox Shipping and Logistics Ltd., formerly Velox Industries Limited, has entered a strategic investment agreement for the acquisition of a stake in Divinus Express Logistics Private Limited. This move is aimed at expanding operational capacity and strengthening Velox's overall market position within the logistics sector.The company has commenced the transaction by acquiring 63% of the equity value of Divinus Express Logistics Private Limited (Divinus). The cash consideration for this initial stake was set at INR 5 Crore.Velox Shipping and Logistics Ltd., which operates in the logistics industry, views the investment as a strategic initiative...

Baron Infotech Ltd. Explains Delays in Financial Filings Amid Corporate Insolvency Resolution Process Baron Infotech Limited has provided an update regarding the preparation and filing of its financial results for the period ended March 31, 2026, citing complications arising from the ongoing Corporate Insolvency Resolution Process (CIRP). The company stated that the delay in submitting these financials is neither intentional nor willful but is directly attributable to judicial intervention under the Insolvency and Bankruptcy Code (IBC), 2016.Baron Infotech Limited is currently undergoing CIRP before the National Company Law Tribunal (NCLT) Hyderabad Bench. The process has encountered significant procedural complexities, including an...

Shivam Autotech Ltd Agrees to Hold Board Meeting to Discuss Rights Issue Fundraising Shivam Autotech Ltd has scheduled a meeting of its Board of Directors to consider a proposal for raising funds through a rights issue. The board meeting is set for Wednesday, July 01, 2026.The primary focus of the meeting will be the proposal for fund raising via the offer and issuance of fully paid up equity shares. This fundraising mechanism involves offering shares through a rights issue to eligible equity shareholders or any other method deemed appropriate under current regulations and applicable laws.The agenda items related to the funding initiative include the approval of associated matters. These are necessary steps such as constituting a...

Zydus Wellness incorporates new subsidiary, Zydus Wellness Trading L.L.C., in Dubai Zydus Wellness has successfully incorporated a wholly owned subsidiary through its UAE entity, Zydus Wellness International DMCC (ZWID). The new entity, named Zydus Wellness Trading L.L.C. (ZWTL), was established in Dubai, UAE on June 24, 2026.The incorporation marks a move towards business expansion for the company, and ZWTL operates within the Food and Nutrition, Nutraceuticals, and Personal Care industry. The Certificate of Incorporation for ZWTL was received by the Company on the same day, June 24, 2026.ZWID holds a 100% stake in ZWTL. Since ZWTL is a newly incorporated company, the transaction is not considered a related party transaction...

Suvidhaa Infoserve Ltd to Hold Board Meeting to Discuss Fund-Raising Options Suvidhaa Infoserve Limited has scheduled a meeting of its Board of Directors to review and approve various potential fund-raising options for the company. The Board meeting is set to take place on Tuesday, June 30, 2026. The specific details regarding these proposals will be provided in the outcome of the meeting.In operational updates, the company also addressed its trading restrictions. The current trading window for Suvidhaa Infoserve securities has been closed since June 24, 2026. Furthermore, the trading window is scheduled to remain closed for a period of 48 hours following the declaration of the Unaudited Standalone and Consolidated Financial Results...

Shree Cement Limited: Tax Demand Reinstated Following Appellate Authority Decision Shree Cement Limited has received an order from the Additional Commissioner (Appeals), SGST, Patna regarding its tax dispute. The appellate authority dismissed an appeal against a previous demand order issued by the Deputy Commissioner, State Tax, Patna, for technical reasons. This decision resulted in the reinstatement of the tax demand, along with corresponding interest and penalty.The notice specified that the violation alleged concerned valuation issues and excess Input Tax Credit (ITC) availed. The company stated that the appeal was initially filed against a demand order which ultimately saw the reinstatement of the amount due to technicalities...

Bhagyanagar India Ltd to Hold Board Meeting on June 30, 2026, to Consider Fund Raising Options Bhagyanagar India Ltd has scheduled a meeting of its Board of Directors for June 30, 2026. The board is set to consider proposals related to raising funds through various securities instruments.The meeting agenda includes discussing the option of raising capital by issuing equity shares, warrants, convertible securities, or other permissible securities. These fundraising efforts may utilize one or more methods, including a qualified institutions placement, rights issue, private placement/preferential allotment, or a combination thereof, subject to applicable statutory and regulatory approvals.In addition to the board meeting, the company...

Govt's Massive Surge: Stake Sales via OFS Hit 11-Year High as Geopolitical Tensions Drive PSU Divestment Government Drives Record Fundraising Through PSU Offer-For-Sale Route The government has dramatically increased its fundraising efforts through the sale of stakes in listed Public Sector Undertakings (PSUs) using the offer-for-sale (OFS) route. This initiative has seen substantial traction, raising approximately ₹25,491 crore so far this year from selling interests in eight PSU companies.This current fundraising spree marks a significant escalation compared to previous cycles. It is considerably higher than the ₹35,291 crore raised back in 2015 by stake sales across five listed entities. The OFS route has emerged as a critical...

Financial Supercharge: Bharti Airtel Rated BBB+ Amid Mega Deals and Key Market Movements Corporate Upgrades and Strategic Partnerships Drive Stock Focus Bharti Airtel received a significant boost today after S&P Global Ratings upgraded its long-term issuer credit rating to BBB+, up from BBB. Furthermore, the agency enhanced the rating on the company's senior unsecured debt to BBB+ as well. This upgrade highlights growing confidence in the telecom giant's financial stability.S&P noted that higher earnings for Bharti Airtel are supported by increasing data consumption across high-growth markets, including India and Africa, which will aid in debt reduction efforts. The rating action places the company among financially stable players in...

UTI Asset Management Recommends Final Dividend of ₹40 Per Equity Share for FY 2025-26 UTI Asset Management Company Limited has recommended a final dividend for the financial year 2025-26. The Board of Directors proposed a dividend of ₹40 per equity share, which represents 400% of the face value of the ₹10 equity shares. This recommendation was made during a board meeting held on April 23, 2026, and is subject to approval by members at the forthcoming Annual General Meeting.To determine the eligibility of shareholders for the proposed final dividend, UTI Asset Management Company Limited has set specific record dates and book closure periods.The key operational details related to the distribution are as follows:EventDate / Period...

APAC Asset Management set for Massive Surge: India Rises as Key Growth Engine in $34.5 Trillion Market The Asia-Pacific (APAC) region is on a dramatic trajectory for wealth management. Assets under management (AuM) across the entire area are projected to leap nearly 49% by 2030, reaching an estimated $34.5 trillion from $23.2 trillion in 2024. This projection positions APAC as the world's fastest-growing market for asset and wealth management.PwC's comprehensive report estimates that the industry will expand at a Compound Annual Growth Rate (CAGR) of 6.8% through 2030. This rate is set to outperform both North America, pegged at 6.2%, and Europe, forecasted at 5.6%. The expected growth is substantial, anticipated to unlock...

MTF Book Surges 65% to Rs 1.27 Lakh Crore as Retail Investors Amplify Leveraged Bets in Equity Market India’s margin trading facility (MTF) book registered a powerful surge in May 2026, climbing 65% year-on-year to reach Rs 1.27 lakh crore. This dramatic growth reflects a sustained appetite among retail investors for leveraged equity positions and increased participation in the market, according to a CareEdge report.The MTF segment also showed strong sequential improvement, rising by 11% in May compared to the modest 1.6% growth recorded in April. This rebound signals improving overall market sentiment after a 6% decline noted during March, aligning with expectations of stabilized West Asia conflict and robust activity in the cash...

Cyber Security Incident Hits Subsidiary of Route Mobile Limited; Systems in Colombia Affected Route Mobile Limited has reported a cyber security incident affecting Masivian S.A.S., a wholly owned subsidiary of the company. The incident impacted specific systems within the Masivian environment located in South America, primarily those linked to customers and systems based in Colombia.The affected systems have been isolated, and containment measures have already been implemented following the discovery of the security breach at Masivian S.A.S.Masivian S.A.S., along with specialized cybersecurity experts, initiated necessary precautions and protocols upon detecting the incident. The company confirmed that the cyber security incident is...

Sterlite Technologies Launches Qualified Institutional Placement with Equity Shares Priced at ₹613.69 per Share Sterlite Technologies Limited has initiated the offering of equity shares through a qualified institutional placement (QIP). The company finalized the floor price and details of the Issue following approvals from its Board and shareholders.The Authorized and Allotment Committee, during its meeting on June 24, 2026, approved the commencement of the Issue. This move comes after the Company's board of directors approved the matter in a meeting held on April 29, 2026, and following a special resolution passed by shareholders via postal ballot on June 16, 2026.The preliminary placement document dated June 24, 2026, is now...

OnMobile Global Limited Reappoints Radhika Venugopal as Whole-time Director and CFO OnMobile Global Limited has approved the reappointment of Radhika Venugopal as a Whole-time Director and Chief Financial Officer (CFO). The appointment was made by the Board of Directors during its meeting on June 24, 2026.The company determined the reappointment following recommendations from its Nomination and Compensation Committee. Ms. Venugopal is set to serve in this capacity for a term extending from March 27, 2027, to March 26, 2030, subject to shareholder approval at the ensuing Annual General Meeting.Radhika Venugopal holds a strong professional background, having been an integral part of OnMobile Global Limited for over ten years. She...

S&P Global Ratings Upgrades Bharti Airtel To BBB+ Citing High Growth in Africa and India, Balance Sheet Discipline S&P Global Ratings has upgraded its long-term issuer credit rating for Bharti Airtel Ltd., assigning a rating of BBB+/Stable. The upgrade comes alongside a rating increase on the senior unsecured debt issued by the company. S&P's report highlights that growing data consumption in high-growth markets across India and Africa, combined with strong balance sheet discipline, are the primary drivers behind this rating action.The ratings changes announced by S&P Global Ratings reflect positive trends in both the domestic Indian telecom market and the international operations of Bharti Airtel. The stable outlook provided reflects...

Home First Finance Reports FY26 Performance: AUM Reaches ₹1,58,777 Mn as Focus Remains on Affordable Housing Growth Home First Finance Company India Limited (HFFCIL) presented a comprehensive overview of its operations and financial performance during the 17th Annual General Meeting held on June 24, 2026. The presentation highlighted the company's commitment to technology-driven affordable housing finance across India, detailing robust growth in loan disbursements and maintaining a diversified funding profile.Operational Scale and Market Penetration As of March 2026, Home First Finance maintained Assets Under Management (AUM) at ₹1,58,777 Million. The company is described as a technology-driven affordable housing finance provider with...

Jubilant Foodworks subsidiary secures EUR 112.5 million refinancing facility Jubilant FoodWorks Limited has been informed of a major financial transaction involving its wholly owned subsidiary, Jubilant FoodWorks Netherlands B.V., which has successfully entered into a new facility agreement.The facility agreement, dated June 24, 2026, aggregates to EUR 112,500,000. This financing is designated for refinancing an existing facility related to the acquisition of a stake in DP Eurasia B.V., covering the period from 2021 to 2024.In connection with this refinancing, Jubilant FoodWorks Limited provided a letter of support. The Company confirmed that this letter of support does not entail any recourse or financial obligation whatsoever on...

Tata Steel Acquires Equity Stake in T Steel Holdings Pte. Ltd, Increasing Investment Capacity Tata Steel Limited announced the acquisition of a significant equity stake in its subsidiary, T Steel Holdings Pte. Ltd (TSHP), on June 24, 2026. This acquisition involved purchasing 199,07,40,741 equity shares in TSHP, totaling USD 172 million, which corresponds to ₹1,625.29 crore.The investment aims at enhancing the company’s commitment to TSHP, confirming that the entity remains a wholly owned subsidiary of Tata Steel Limited following this transaction.This latest move is part of an ongoing strategic infusion process into TSHP. Previously, the Board of Directors of Tata Steel Limited had approved the injection of additional funds up to...

Chambal Breweries & Distilleries Approves Q1 Financial Results for Period Ending May 31, 2026 Chambal Breweries & Distilleries Ltd announced that its Board of Directors reviewed and approved the Audited Financial Results for the first quarter (Q1) of the fiscal year. The results cover the period starting from April 1, 2026, to May 31, 2026.The meeting was held on June 24, 2026, and included consideration of the Audited Financial Results along with the Statutory Audit Report pertaining to the aforementioned period.Q1 Financial Performance Overview The company's financial statements for the quarter were reviewed by the Board. The results provided a summary of key financial metrics for the period ending May 31, 2026.Key components...