Markets

Acquirers complete Open Offer for Shantai Industries Ltd; Public share holding remains at 25.60% The open offer launched by a group of acquirers in Shantai Industries Limited concluded on June 9, 2026. The transaction aimed to acquire up to 19,20,000 fully paid-up Equity Shares from public shareholders for cash at a fixed price of ₹21 per share.The offer was conducted by Radhe Dhokla Private Limited, Pandav Dishant Kanubhai, Nikunj Vijaybhai Prajapati, Pandav Jinesh Kanaiyalal, and Pandav Pradipkumar Vijaybhai, collectively referred to as the Acquirers. Saffron Capital Advisors Private Limited managed the open offer for the acquiring entities.According to records available following the closing of the offer, zero shares were...

Gold Outperforms Silver in Massive Ratio Surge as Global Inflation Concerns Mount The gold-silver ratio (GSR) has seen a significant climb in recent weeks, indicating that investors are increasingly favoring the safe-haven status of gold over silver. This shift reflects persistent global inflation concerns and expectations of continued tightening by the U.S. Federal Reserve (Fed). The rise in the GSR points to distinct shifts in investor demand profiles for these precious metals.Precious Metal Market Dynamics and Ratio Spike The Augmont research notes that the international spot price of gold ranged between $4,000 and $4,060 per ounce during recent trading periods. Simultaneously, silver hovered around the $60–$61 per ounce mark. This...

Turtlemint Fintech IPO Allotment Set for Finalization as Investor Demand Reaches 1.20 Times Turtlemint Fintech Solutions is set to finalize the allotment of shares later this evening, June 24. The highly anticipated initial public offering (IPO) concluded a strong subscription phase after drawing an impressive investor demand of 1.20 times in the primary market. This successful reception underlines robust interest in the fintech sector as the company prepares for its listing.The IPO was open for public subscription from June 19 to June 23. Investors had the opportunity to participate in the Rs 883-crore offering. The fixed price band for the issue was set at Rs 144 to Rs 152 per share, providing investors with clarity on the company's...

RBI Mandates Banks Strengthen AI Oversight: New Rules Demand Board-Approved Risk Frameworks for Machine Learning Models The Reserve Bank of India (RBI) has proposed stringent guidelines requiring banks to significantly enhance the oversight and risk management associated with Artificial Intelligence (AI) and machine learning models. The move underscores the central bank's commitment to managing emerging technology risks within the regulated banking sector.Regulated entities must now establish a comprehensive, board-approved risk management framework covering all models utilized by the institution. This includes specific protocols for AI applications and complex machine learning systems deployed across operations.Mandatory Risk...

Revenue Hit ₹7.7 Lakh Crore But CFO Allegedly Unpaid Since 2020 as ED Investigates Rajesh Exports' Finances The Directorate of Enforcement (ED) has initiated a major investigation into Rajesh Exports Ltd (REL) and its associates following search and seizure operations at nine locations linked to the company. The probe focuses on allegations of significant irregularities, including suspected share manipulation, missing foreign transaction records, and highly unusual remuneration practices, according to an agency statement issued Wednesday.The searches follow prior actions by the Securities and Exchange Board of India (SEBI), which had already passed an interim order against the promoters and the company regarding large-scale...

Corporate Sales Surge Accelerates as Manufacturing Sector Drives Up Growth in FY25-26, RBI Finds The Reserve Bank of India (RBI) today released comprehensive data on the performance of the private corporate sector for the fiscal year 2025-26. The report provides deep insights into how NGNF companies have managed rapid sales acceleration despite increasing input costs and expenditure pressures.Drawn from the abridged financial results of 4,278 listed non-government non-financial (NGNF) companies, the RBI data sheds light on the health and structure of India's private business landscape. The detailed findings cover growth rates, operational ratios, and profitability trends across various sectors.Robust Sales Growth Across Private...

Reliance-owned Karkinos Healthcare Crosses One Lakh HPV DNA Tests in Fight Against Cervical Cancer Karkinos Healthcare, a 100% step-down subsidiary of Reliance Industries Limited, has achieved a significant milestone by completing HPV DNA screening for over one lakh women across India. This achievement highlights the expansion of access to high-quality cervical cancer screening and follow-up care throughout the country.The accomplishment addresses two critical aspects of cervical cancer prevention: limited accessibility to screening and the common issue of patients being lost during the follow-up process after receiving a positive test result. Karkinos Healthcare’s model tackles both challenges using World Health Organization (WHO)...

Praxis Home Retail Secures Loan from CMS IT Services Pvt Ltd for Working Capital Needs Praxis Home Retail Limited has entered into a loan agreement with CMS IT Services Private Limited to fund its working capital requirements and general corporate purposes. The agreement provides up to Rs. 14.50 Crores in an unsecured, inter-corporate loan that will be disbursed in tranches on or before March 31, 2027.The transaction, formalized on June 23, 2026, details the terms of the facility between the two companies. CMS IT Services Private Limited is listed as the lender, while Praxis Home Retail Limited functions as the borrower in this arrangement. The loan carries an agreed interest rate of 11% per annum.Currently, the company has taken...

GP Eco Solutions Updates Shareholding Details for Preferential Allotment The Executive Board Committee of GP Eco Solutions India Limited has noted a change regarding the Explanatory Statement related to its Extra-Ordinary General Meeting (EGM) concerning preferential share allotment. This decision was made by the company's Executive Board Committee during a meeting held on Wednesday, June 24, 2026.The update concerns Mr. Manoj Kumar, one of the proposed allottees in the ongoing preferential issue. The change clarifies the shareholder’s stake both before and after the completion of the allotment process.As per the noted outcome, Mr. Manoj Kumar currently holds a pre-preferential shareholding of 4,400 equity shares, which represents...

Dr. Ashutosh Karnatak Resigns from SEPC Limited Board Directorship SEPC Limited has announced the resignation of Dr. Ashutosh Karnatak, an Additional Director who held the position of Non-Executive, Independent Director at the company. The decision to step down was made due to personal reasons and other professional commitments.The resignation is effective immediately as of June 24, 2026.Dr. Karnatak served in his capacity as a key director within SEPC Limited's management structure. His departure follows the submission of his notice citing both personal and professional factors.Key details regarding the change in directorship are summarized below:ParticularDetailDirector NameDr. Ashutosh Karnatak (DIN: 03267102)...

Texmaco Rail Secures Rs 6.28 Crore Contract from Western Railway for Infrastructure Work Texmaco Rail & Engineering Limited has received a Letter of Acceptance (LOA) valued at Rs 6.28 crores from Western Railway. The contract involves the provision of Nylon Net, Anti monkey Climbing Device, and anti-bird disc over within the next twelve months.The agreement highlights Texmaco's role in providing specialized infrastructure support to the railway entity. Western Railway has issued the acceptance letter for work related to enhancing safety and structure integrity through these components.The key details of the domestic contract are summarized below:ParticularDetailsClientWestern RailwayContract ScopeProvision of Nylon Net...

CreditAccess Grameen Ltd. Allots INR 325 Crore in Debentures via Private Placement CreditAccess Grameen Limited has finalized the allotment of senior, secured, non-convertible debentures amounting to INR 325,00,00,000 through a private placement. The transaction details were approved by the company’s Executive, Borrowings & Investment Committee on June 24, 2026.The issued securities are senior, secured, rated, listed, redeemable, transferable, and taxable non-convertible debentures denominated in Indian Rupees (INR). These debentures have a face value of INR 1,00,000 each.A summary of the debenture issuance is provided below:ParticularDetailsType of SecuritiesSenior, secured, rated, listed, redeemable, transferable, taxable...

Dollex Agrotech Extends SCOD Until September 2026 Pending Statutory Clearances Dollex Agrotech Limited has announced an extension of its Scheduled Commercial Operation Date (SCOD), setting the new target date for commercial operations commencement as September 30, 2026. The company confirmed that while all necessary installation of plant and machinery has been successfully completed, the start of commercial activities remains dependent on receiving key statutory approvals.The SCOD refers to the anticipated date when a project is expected to commence commercial production. Dollex Agrotech stated that the pending operational status is attributed to two specific regulatory clearances: PESO approval for ethanol storage and Consent to...

HCLTech and Nokia Expand Partnership to Accelerate Autonomous Networks with AI-Driven rApps Innovation HCLTech, a global technology leader, has expanded its partnership with Nokia to drive the adoption of autonomous networks through advanced AI-driven network automation. The collaboration involves co-innovating and providing four new network automation RAN applications (rApps) hosted on Nokia's SMO Marketplace.The alliance is designed to enable communication service providers (CSPs) a transition toward self-optimizing, AI-native network operations. By placing these advanced rApps exclusively on the SMO Marketplace, HCLTech ensures that global operators can easily access and deploy solutions within an open, standards-based ecosystem...

State GST Rejects Sanofi India Refund Claim for INR 11,62,853 Sanofi India Limited has received an order from the Deputy Commissioner, State GST, Ahmedabad, Gujarat, rejecting its refund application amounting to INR 11,62,853. The decision relates to a claim covering the period from 2014-15 to 2017-18 (up to July 2017).The Deputy Commissioner, State GST, Ahmedabad, Gujarat, rejected the refund application filed by Sanofi India Limited. This rejection is based on the grounds that the refund claim arises from a debit of the Electronic Credit Ledger (ECL) towards mandatory pre-deposit as mandated under the Central Excise Act, 1944.The authority determined that since this mandatory pre-deposit was debited under the Central Excise Act...

HCLTech Partners with Neste to Drive AI-Led Efficiency Transformation ESPOO, Finland and NOIDA, India, June 24, 2026 – Global technology company HCLTech has been selected as a strategic partner by Neste, the world's leading producer of sustainable aviation fuel and renewable diesel. The partnership is set to drive efficiency across Neste's operations as part of the Finnish company's comprehensive performance improvement program.HCLTech will be instrumental in boosting operational efficiency and building an agile, scalable technology capability at Neste. The collaboration involves driving IT service consolidation, enabling HCLTech to utilize its deep technical expertise and vast scale in areas directly related to Neste's core business...

SKM Egg Products Export Announces Changes in Directorship and Leadership Structure SKM Egg Products Export (India) Limited has approved significant changes to its Board of Directors, effective from June 25, 2026. The company announced that Mr. SKM Maeilanandhan will cease his directorship while being appointed as Chairman Emeritus, and Mr. SKM Shree Shivkumar has been appointed as the new Chairman of the Board.The Board meeting approved the cessation of Mr. SKM Maeilanandhan (DIN: 00002380), Executive Chairman of the Company. He will step down from the Board of Directors with effect from June 25, 2026, upon completion of his current term. In recognition of his significant contributions to the growth and development of SKM Egg Products...

Vartika Shukla Appointed as Additional Independent Director at Kalyani Steels Limited Kalyani Steels Limited has appointed Ms. Vartika Shukla as an Additional Independent Director, effective June 24, 2026. The appointment follows a recommendation from the Nomination and Remuneration Committee of the company and was approved by the Board of Directors on June 24, 2026.Ms. Shukla will serve in this capacity for a term of five consecutive years, running until June 23, 2031, subject to approval by the members through a Postal Ballot.Professional Background and Experience Ms. Shukla brings extensive experience from her tenure at Engineers India Limited (EIL), where she served as Former Chairman & Managing Director. During her near thirty...

HCLFoundation Partners with Nagpur Municipal Corporation to Boost Grassroots Sports Ecosystem HCLFoundation, driven by the corporate social responsibility goals of HCLTech, has formalized a partnership with the Nagpur Municipal Corporation (NMC) to significantly strengthen and expand grassroots sports opportunities across the city. This collaboration was established on World Olympic Day, June 23, 2026.The Memorandum of Understanding (MoU) will focus on dedicated training programs in fencing, rugby, and archery at designated NMC sports facilities. The initiative is designed to provide continuous access to daily training for participants while maintaining a strong focus on inclusive development. Specifically, the program structure...

Aster DM Healthcare Receives NCLT Order Approving Scheme of Amalgamation Aster DM Healthcare Limited has received the certified true copy of the order passed by the National Company Law Tribunal (NCLT), Hyderabad Bench, approving the Scheme of Amalgamation between Quality Care India Limited and Aster DM Healthcare Limited.The approval relates to a Scheme of Amalgamation between Quality Care India Limited (QCIL/Transferor Company) and Aster DM Healthcare Limited (Aster DM/Transferee Company). This transaction was sanctioned by the NCLT, Hyderabad Bench.The certified true copy of the order approving the scheme was received on June 23, 2026.According to the details of the Scheme, QCIL will be dissolved without winding up upon its...