Markets

ED Launches Sweeping Searches at Rajesh Exports Following SEBI Flagging Alleged Financial Misstatements The Enforcement Directorate (ED) conducted extensive searches across multiple premises associated with Rajesh Exports Limited in Bengaluru on Tuesday, marking a severe escalation in regulatory scrutiny against India's major gold jewellery exporter. The raids and searches are linked to an interim order passed by the Securities and Exchange Board of India (SEBI), which flagged serious irregularities concerning the company's financial reporting and fund movement patterns.ED Searches Target Multiple Locations Linked to Rajesh Exports The searches commenced early in the morning, targeting several locations linked not only to Rajesh...

Alliance Integrated Metaliks Asserts No Information Was Withheld Regarding Stock Price Movement Alliance Integrated Metaliks Ltd has addressed recent inquiries regarding its share price movement, asserting that the company has been transparent in its reporting and maintained that all stock activity is driven by market conditions.The company stated that it continuously makes prompt disclosures of any events or information that could impact the operation or performance of Alliance Integrated Metaliks Ltd. The management confirmed that they have not withheld any information or events that would affect the price behavior of the security.Regarding the observed changes in the share value, the company maintained that the movement is purely...

CII President Mukundan Urges India to Land Foreign Capital for R&D Push India needs a significant infusion of foreign capital if it aims to elevate its domestic research and development (R&D) spending, according to the Confederation of Indian Industry (CII) President, R. Mukundan. He stressed that the country must pivot its focus from merely signing Free Trade Agreements (FTAs) toward maximizing their utilization.Mukundan, who is also a managing director at Tata Chemicals Ltd., argued that long-term industrial competitiveness is intrinsically linked to innovation and technology absorption. Without dedicated investment in these areas, Indian industries will struggle to compete globally in the future.The Imperative of Technology and...

Garden Reach Shipbuilders Becomes L1 to Supply 15-Ton Electric Bollard Pull Tug Garden Reach Shipbuilders & Engineers Ltd (GRSE) has secured the contract as the lowest bidder (L1) for the supply of a 15 TON Electric Bollard Pull Tug. The tender was issued by Shyama Prasad Mukherjee Port, Kolkata (SMPK).The successful outcome places GRSE in a significant role within the port infrastructure market. The bid was opened on June 23, 2026, and GRSE emerged as the L1 bidder for one unit of the Electric Bollard Pull Tug.The approximate value of the contract is ₹40.00 crores. This achievement marks the culmination of GRSE's participation in the specialized tender process conducted by SMPK.GRSE Stock Price Movement Garden Reach Shipbuilders...

RBI Unleashes New TReDS Directions: Deregulation and Capital Revisions Boost MSME Lending Landscape The Reserve Bank of India (RBI) has released the Final Directions on the Trade Receivables Discounting System (TReDS), 2026. These updated directions aim to streamline and modernize the regulatory environment for TReDS, a critical platform supporting working capital finance across the country. The issuance marks a significant step towards easing financial burdens, especially for Micro, Small, and Medium Enterprises (MSMEs).Finalizing Regulatory Framework for TReDS The RBI had previously placed the draft TReDS Directions, 2026, in the public domain on April 08, 2026. The feedback received from stakeholders was thoroughly reviewed by the...

eClerx Services Ltd Holds One to One Investor Meeting with Awriga Capital Advisors eClerx Services Ltd has scheduled a one to one investor meeting with Awriga Capital Advisors regarding industry and company specific developments. The session is slated for June 23, 2026, in Mumbai.The interaction is planned as a one to one meeting, focusing on developments within the industry and the company that are already available in the public domain.The details of the scheduled investor interaction are provided below:DateInteraction WithDiscussion FocusVenueTypeJune 23, 2026Awriga Capital AdvisorsIndustry/ Company specific developments already in public domainMumbaiOne to OneThe company noted that the schedule is subject to change...

Mizzen Ventures Limited Votes to Increase Authorized Capital and Raise Rs 10 Crore in Preferential Issue Mizzen Ventures Ltd, previously known as Jyothi Infraventures Limited, is undertaking a significant capital restructure and financing initiative. The company has proposed a resolution to increase its authorized share capital and sought shareholder approval for a substantial preferential issue aimed at funding business expansion across its operations and that of its wholly-owned subsidiary, Mizzen Digital Private Limited.The planned transactions are set to strengthen the company’s capital base in preparation for long-term growth requirements. The Board approved the proposed resolutions in June 2026, pending shareholder approval...

Eris Lifesciences Reports Strong Market Position in Super-Specialty Segment Amid Global Expansion and Therapeutic Pipeline Growth Eris Lifesciences Limited showcased significant growth and strategic advancements across its domestic and international portfolios in June 2026, emphasizing its leadership in anti-diabetes therapy and robust R&D capabilities. The company noted that its products are marketed in over 70 countries through a global distribution network.The company’s domestic branded formulations segment accounts for a strong 80% of revenue. Eris holds a Top-5 market position in Anti-Diabetes therapy with a 6% market share, and maintains a leading position in Insulins (RHI and Glargine) commanding a 16% market share.Strategic...

FCRA Penalties Intensify: Govt Revises Rules, Imposing Stricter Obligations on NGOs Receiving Foreign Donations Revised Penalty Framework for Misuse of Foreign Contributions The government has significantly revised the penalties under the Foreign Contribution (Regulation) Act (FCRA), 2010, concerning how non-governmental organizations (NGOs) receive and utilize foreign funds. These orders, notified by the ministry on Monday under Section 41(1) powers, aim to tighten accountability regarding the use of international donations.The new penalties are stringent across various contraventions of the Act's provisions. If a registered NGO spends more than 20 per cent of the received foreign contributions on administrative expenses (a breach of...

Technichem Organics Clarifies Share Price Movement Amid Market Scrutiny Technichem Organics Ltd, formerly known as Technichem Organics Private Limited, has addressed concerns regarding recent movements in its share price. The company issued a clarification asserting that all material information pertaining to the operations and performance of the business has been disclosed by the organization within stipulated timeframes.The company stated that there is no pending information or announcements from Technichem Organics Ltd that could materially affect the behavior of the stock.In its statement, the management clarified that share price movements are purely a reflection of market conditions. The company maintained that its management...

Baba Food Processing Commences Commercial Operations at New Sattu and Besan Manufacturing Plant in Ranchi Baba Food Processing (India) Limited has announced the successful commissioning and start of commercial operations at its new dedicated manufacturing facility, marking a significant step in the company's expansion strategy. The plant, located in Nagri, Ranchi, Jharkhand, is focused on the specialized production of Sattu and Besan.The operational unit, Plant Unit No. 2, has completed all necessary processes, including installation, testing, commissioning, and trial runs. Following these successful formalities, the facility began commercial operations beginning the evening of June 22, 2026.The establishment of the new plant...

Sahaj Solar Limited's Subsidiary Increases Capital in Abu Dhabi Joint Venture Sahaj Solar Limited has provided an update regarding the capital structure of its joint venture entity established in Abu Dhabi, UAE. The company's subsidiary will infuse additional funds into the joint venture to maintain its ownership stake.The action follows the prior announcement concerning the establishment of a Joint Venture (JV) in Abu Dhabi, UAE. This JV is named Sahaj Energy Solar Panels Manufacturing - L.L.C and was incorporated by Sahaj Renewable Energy Trading -FZCO, a wholly owned subsidiary of Sahaj Solar Limited.In light of developments within the venture, Sahaj Solar Limited has announced that the capital of the joint venture is being...

Piramal Pharma Addresses Stock Rally, States Price Movement Driven by Market Dynamics Piramal Pharma Ltd has responded to speculation surrounding its recent stock price surge, clarified that the rally is being driven by general market dynamics and no specific company news.The clarification comes after a news item published by NDTV Profit, which covered the significant rise in Piramal Pharma's share price.In responding to market attention regarding the stock movement, Piramal Pharma confirmed that the referenced surge was not linked to any material event or information requiring disclosure from the company.Management stated that all information concerning the company is already in the public domain. Regarding the observed price...

HP Adhesives Reports Consolidated and Standalone Results for FY 2025, Notes Details Fire Incident Impact HP Adhesives Ltd has released its audited consolidated and standalone financial results for the quarter ended March 31, 2026, providing insights into the group's operations and financial position. The results include details regarding a significant fire incident that occurred at one of the company's manufacturing units in January 2026.Financial Performance Highlights (Q4 FY2025) The consolidated financial statements show total income standing at 25,287.24 Lakhs for the year ended March 31, 2026. The company reported a net profit attributable to equity holders of 697.70 Lakhs for the quarter and 1,824.36 Lakhs for the full fiscal...

Sensex and Nifty Slip Sharply as Global Weakness Mounts, but Pharma Stocks Stage a Rally Indian equity indices recorded sharp declines on June 22 as uncertainty surrounding US-Iran peace talks weighed heavily on market sentiment globally. The benchmark indices closed in red, with selling pressure intensifying through the second half of the trading session.At the close, the Sensex finished at 76,200.68, shedding 893.39 points or 1.16 percent. Nifty was also significantly pulled down, settling at 23,824.10, marking a decline of 278.80 points or 1.16 percent.Market Performance and Sectoral Resilience The market saw concentrated selling across several key sectors, though pharma and healthcare stocks provided crucial support to the...

Nucleus Software Appoints Veteran Banking Leader as Chief Customer Success Officer Nucleus Software, a leading provider of lending and transaction banking solutions to the global financial services industry, has announced the appointment of Bhavit Godiwala as its Chief Customer Success Officer (CCSO). The strategic move aims to deepen customer relationships, accelerate value realization for clients, and drive greater agility within financial institutions globally.In his new role, Mr. Godiwala will lead Nucleus Software's global Customer Success organization. He will focus on helping financial institutions build business agility amid an increasingly digital and AI-driven environment while strengthening delivery excellence and...

Durga Ramji Acquires Shares in Polyspin Exports Ltd through Transmission from Deceased Husband Durga Ramji, a Promoter of Polyspin Exports Ltd, has acquired 4,99,579 equity shares after the transmission of shares following the demise of her husband, R. Ramji. The transaction occurred on June 18, 2026.The acquisition involves the transfer of these equity shares in Polyspin Exports Limited (Polyspin), which has a face value of Rs. 5/- per share. This specific transmission falls among the Promoters and is noted as being within an exemption related to substantial acquisitions.Following this transaction, Durga Ramji's holding in Polyspin Exports increased significantly. Prior to the acquisition, she held 23,36,113 shares, representing...

SVA India Ltd Achieves 100% Stake in Aussee Oats Milling Private Limited SVA India Ltd has completed the acquisition of all shares in Aussee Oats Milling Private Limited, transforming the company from an Associate Company into a Wholly Owned Subsidiary. The transaction, effective as of June 23, 2026, saw SVA India increase its shareholding to 100% across both equity and preference shares.Aussee Oats Milling Private Limited, which is incorporated in Sri Lanka, operates in the manufacturing and exporting of oats and oats-based products. The acquisition represents a transfer within a Related Party Transaction, as Aussee Oats Milling previously shared a common director with SVA India Ltd.The change in control was executed through a Cash...

Banks Face Liability Reckoning as Deposit Composition Shifts: Retail Competition Forces Major Strategy Pivot India's banking sector is undergoing a profound structural change in its deposit composition. A report by Crisil highlights that lenders are now compelled to completely rethink their liability strategies amidst intense competition for retail deposits and shifting customer preferences toward higher-yielding savings products. This evolution underscores the dynamic pressure faced by financial institutions across the board.Structural Shifts in Bank Deposit Composition In fiscal 2026, total deposits within India’s banking sector expanded robustly by 13.5 percent year-on-year, reaching approximately Rs 262 trillion. However, this...

Acquirers and PACs Launch Open Offer for Purple Finance Ltd., Targeting 26% Stake at ₹55 Per Share Purple Finance Limited, a publicly listed company, is facing an open offer initiated by Allied Commodities Private Limited, Mr. Sandeep Jindal, and various associated Persons Acting in Concert (PACs). The transaction aims to acquire up to 1,76,48,152 fully paid-up equity shares, representing 26.00% of the Emerging Voting Capital of the Target Company.The offer price for the Equity Shares has been set at ₹55.00 per share, which is payable in cash. The total value of the proposed acquisition amounts to ₹97,06,48,360.The open offer was launched with a specific timeframe, beginning on Wednesday, July 01, 2026, and closing on Tuesday, July...