Markets

Recommended Dividend and Record Date Announced for Plada Infotech Services Limited Plada Infotech Services Limited has announced a recommended dividend of ₹ 8 per equity share, pertaining to the Financial Year 2025-26. The company also specified the Record Date for determining member entitlement to this dividend.The proposed dividend is based on shareholders holding records as of Friday, July 3, 2026. The recommendation was previously informed in May 2026.The dividend amount has been set at ₹ 8 (Rupees Eight only) per equity share, which carries a face value of Rs.10/- each. The dividend remains subject to the approval of Shareholders during the ensuing Annual General Meeting (AGM).The company stated that the dividend, subject to...

Cochin Shipyard Shares Plunge as Government Signals Impending Offer for Sale Amid Funding Drive Shares of Cochin Shipyard experienced a downturn on June 22 after CNBC-TV18 reported that the government is likely to soon launch an Offer for Sale (OFS) for the defence company. This news caused the stock to fall nearly 2%.The potential sale is part of a broader strategy by the government, aiming to mop up significant funds through OFSs in various Public Sector Undertakings (PSUs). The market reacted negatively to the possibility of dilution and change in ownership structure.Potential Discount and Stake Details Revealed CNBC-TV18 reported that the upcoming OFS for Cochin Shipyard could be offered at a discount ranging between 6% and 8%...

Onward Technologies Recommends Dividend of ₹8 Per Share for FY 2025-26; Sets July 3 Record Date Onward Technologies Limited has announced the recommendation of a dividend for its shareholders covering the Financial Year 2025-26. The company set Friday, July 3, 2026, as the record date for members entitled to the proposed payout.The management has recommended a dividend of ₹8 (Rupees Eight only) per equity share. The face value of the shares is Rs.10/- each. This dividend is subject to the approval of shareholders at the ensuing Annual General Meeting (AGM).Regarding the payment schedule, the company stated that the dividend will be paid within 30 days from the date of declaration. This disbursement is contingent upon shareholder...

CARE Ratings Upgrades Credit Rating for Nitin Spinners Ltd.'s Bank Facilities CARE Rating Limited has upgraded and reaffirmed the credit rating assigned to the bank facilities of Nitin Spinners Ltd., following a review of the company's operational and financial performance. The ratings pertain to both Long Term and Short Term Bank Facilities, as detailed by the rating agency on June 22, 2026.The upgrade relates to the Long Term Bank Facilities, which have been upgraded from CARE A; Positive to CARE A+; Stable. Concurrently, the rating for Short Term Bank Facilities has been reaffirmed at CARE A1.Long Term Facility Details The total amount of Long Term Bank Facilities rated stands at ₹2,371.71 crore. The facilities are structured...

Silver Futures Surge as Geopolitical Tensions Drive Price to ₹2.35 Lakh Per Kg The price of silver has surged in futures markets, rising 0.92 per cent and reaching ₹2,35,320 per kilogram on the Multi Commodity Exchange (MCX). The sharp rally is attributed primarily to heightened geopolitical tensions originating from the West Asia crisis, driving increased demand across both domestic and international trading platforms.Precious Metal Rally Driven by West Asia Crisis The white metal experienced a significant upward movement in futures trade on Monday. On the MCX, silver closed at ₹2,35,320 per kilogram, marking an increase of ₹2,135 or 0.92 per cent. This gain occurred amid business turnover totaling 1,184 lots.Analysts noted that...

Maruti Suzuki To Bridge Skill Gap: Advanced Manufacturing Labs Set Up At Five Gujarat ITIs Maruti Suzuki Pledges Skilling Initiatives in Gujarat Maruti Suzuki India Ltd (MSIL) announced a major commitment to skill development, pledging to establish Advanced Manufacturing Labs (AMLs) at five Industrial Training Institutes (ITIs) across Gujarat. This initiative is part of the company's broader strategy to nurture a skilled and future-ready workforce aligned with the evolving automotive ecosystem.The decision follows the signing of a Memorandum of Understanding (MoU) between MSIL and the Directorate of Employment and Training (DET), Government of Gujarat. The AMLs are slated for implementation in ITIs located in Palanpur, Bhavnagar...

Pharma Acquisition Surge: FTC Greenlights Aurobindo's $250M Buyout of Generic Giant Lannett Strategic Expansion in Controlled Substances Market Aurobindo Pharma has announced a significant strategic victory, confirming that its US subsidiary, Aurobindo Pharma USA, Inc., has received approval from the U.S. Federal Trade Commission (FTC). This crucial regulatory nod greenlights the acquisition of Lannett Company LLC for USD 250 million. The deal is set to close within the current month, according to a recent regulatory filing by Aurobindo Pharma.Lannett, based in Pennsylvania, is a specialized generic pharmaceutical company. It focuses on developing and commercializing a diverse portfolio of complex, non-opioid controlled substances...

Crude Oil Plunges Below $80: Why Housing Prices May Remain Firm Despite Global Stability The global energy market saw a significant shift after the US and Iran agreed to a roadmap for a final deal within 60 days, following weekend talks in Switzerland. This agreement has renewed optimism regarding smoother energy transit through the vital Strait of Hormuz. Consequently, crude oil prices slipped below $80 a barrel on June 22nd.The stabilizing of this crucial energy route offers relief from supply chain disruptions globally. While lower fuel costs could benefit logistics and transportation sectors, industry experts caution that this may not translate directly into cheaper housing for homebuyers.The Reality Check: Why Fuel Costs Don't...

SpaceX IPO Triggers $8.2 Billion in ETF Trading Volume as Index Rules Reshape Global Market Dominance SpaceX's anticipated market debut has quickly captured global financial attention, driving massive trading volumes in specialized leveraged exchange-traded funds (ETFs). According to a new report by Jefferies, the company's listing highlights a significant shift in index inclusion protocols, enabling mega listings to enter world benchmarks faster and intensifying the influence of US equities worldwide.IPO Drives Massive Volume in Leveraged Space ETFs In the first three days following their launch on June 15, eleven leveraged single-stock SpaceX ETFs amassed US$638 million in assets while generating a combined $8.2 billion in trading...

Iris Clothings Limited Enters Quick Commerce Space to Bolster Omnichannel Reach in Kidswear Segment Howrah, India, June 22, 2026 - Iris Clothings Limited (NSE: IRISDOREME), a readymade garment company specializing in designing, manufacturing, branding, and selling garments for kids wear, has announced its strategic entry into the Quick Commerce segment. This move marks a significant expansion of the company's distribution network, with products initially being available across Bengaluru and Hyderabad.The incorporation of Quick Commerce enhances Iris Clothings Limited's commitment to strengthening its market presence through high-growth retail channels. Building upon an existing foundation of distributor sales, Exclusive Brand Outlets...

Amalgamated Electricity Company Ltd Board defers Revival Plan and Preferential Allotment; Key corporate changes pending further inputs The Board of Directors of Amalgamated Electricity Company Limited held a meeting on June 22, 2026, to review various strategic matters. Following detailed deliberations, the Board decided to defer decisions concerning the company’s revival business plan and the proposal for a preferential allotment of equity shares, pending the receipt of necessary inputs and clarifications from the management.Regarding the proposed revival strategy, the Board extensively reviewed the operational, financial, and business initiatives put forward by the management. After discussion, the Board concluded that certain...

Western Ministil Ltd Appoints Satish Ramsevak Pandey as CFO and Key Managerial Personnel Western Ministil Ltd has announced the appointment of Mr. Satish Ramsevak Pandey as Chief Financial Officer (CFO) and Key Managerial Personnel (KMP). The appointment was approved by the Board of Directors during a meeting held on Monday, June 22, 2026, effective from the same date.The decision comes based on the recommendation of the Nomination and Remuneration Committee. Under Section 203 of the Companies Act, 2013, Mr. Satish Ramsevak Pandey has been appointed to hold the CFO and KMP position at Western Ministil Ltd.Mr. Satish Ramsevak Pandey is described as a seasoned finance professional with over two decades of experience in the financial...

String Metaverse Confirms Bonus Share Allotment Details; Listing Set for June 23 String Metaverse Ltd, formerly Bio Green Papers Limited, has confirmed the details of its bonus share allotment following a record date set for public shareholders. The company reported that the allocation of bonus shares, determined based on changes in the Shareholding Pattern as of the Record Date, was completed.The necessary credit of the bonus shares in the depository system is scheduled to be completed by Monday, June 22, 2026 (T+1 day). String Metaverse stated that these newly issued shares will be available for trading starting on the Beginning of the Day (BOD) on Tuesday, June 23, 2026.The details pertaining to the bonus share issue are provided...

Jio IPO Elevates Reliance Value Unlocking as Brokerages Peg Valuation at $128 Billion The filing of Jio Platforms' draft red herring prospectus (DRHP) represents a pivotal moment for Reliance Industries, bringing the oil-to-telecom conglomerate closer to unlocking significant value from its most critical growth business. The proposed Initial Public Offering aims to provide transparency regarding the value embedded in the digital powerhouse that has rapidly reshaped India’s technology landscape.Brokerage Valuation Pegs Jio at Up to $128 Billion Brokerages have provided robust valuations for the upcoming IPO, estimating Jio's worth in the range of $115–$128 billion. This valuation places Jio on par with listed peer Bharti Airtel...

NOCIL Surges Nearly 20% as Anti-Dumping Duty Safeguards Domestic Rubber Chemical Market Regulatory Action Drives Major Rally in NOCIL Shares NOCIL shares experienced a substantial surge, climbing nearly 19.64 percent on Monday. The stock, which was trading at ₹190.25, rocketed to become one of the top gainers across exchanges. This significant rally is directly attributed to the government's imposition of anti-dumping duties on imported Sulphenamides Accelerators.The move came after the Directorate General of Trade Remedies (DGTR) announced these protective duties. The action targets imports of this crucial rubber chemical from China, the United States, and the European Union. These duties will remain in effect for a period of five...

Flipkart’s Market Grip Solidifies as Myntra Deepens Fashion Dominance Amid Easing Geopolitical Tensions A Bank of America Securities report suggests that consumer demand remains remarkably resilient across India's intensely competitive internet sector. The brokerage firm notes that Flipkart Group has successfully widened its lead in the broader e-commerce market, while Myntra continues to consolidate a strong position in online fashion.Citing Sensor Tower daily active user (DAU) data and industry checks, BofA found that the company's foundational footing remains unshaken despite heavy investment by rivals seeking share. This indicates that competitive pressures have yet to diminish Flipkart’s significant market standing within Indian...

ED Seizes ₹940 Crore of Assets from Vikas Garg Amid Mahadev App Scam Probe The Enforcement Directorate (ED) has provisionally attached over ₹940 crore worth of assets belonging to businessman Vikas Garg. The action targets properties and holdings linked to his companies, including Eraaya Lifespaces, following an investigation into proceeds potentially derived from the Mahadev betting app scam. This high-stakes move places scrutiny on the corporate activities undertaken by Mr. Garg in the context of a major overseas acquisition.The attachment order, issued by the ED, Chhattisgarh, includes residences and properties spanning multiple locations, including Delhi, Goa, and Nainital. The agency alleges that these assets are linked to...

Almondz Global Securities Receives In-Principle Approval for Preferential Issue of Warrants Almondz Global Securities Limited has received in-principle approval from both the BSE and National Stock Exchange of India (NSE) for a proposed preferential issue. The securities relate to warrants convertible into equity shares, which are designated for issuance to non-promoters.The company was granted this preliminary clearance by the exchanges following submissions related to the capital raising activity. The approval specifically concerns the issue of 80 lakh warrants. These warrants are convertible into 80 lakh equity shares of Rs. 1/- each, provided they are issued at a price not less than Rs. 16.58/- per equity share.The in-principle...

Insolvency Threat Strikes: Vikram Solar Shares Tumble as NCLT Admits Claim from Isitva Steels Vikram Solar shares witnessed a downturn, falling by 2% and trading at Rs 196.3 apiece on June 22. This dip followed an order issued by the National Company Law Tribunal (NCLT) which admitted an insolvency petition filed against the company by Isitva Steels. The development has placed intense focus on the company's legal standing regarding a disputed debt claim of Rs 9.44 crore.The NCLT had admitted the petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) after receiving the order on June 18. The petition relates to alleged non-payment of dues from civil works subcontracted to ISPL in 2018 for a solar EPC power project...

Century Enka Enters Power Purchase Agreement for 9.9 MW Wind-Solar Hybrid Plant Century Enka Limited has executed a Power Purchase Agreement (PPA) with ABREL Century Energy Limited (ABRELCEL), a Special Purpose Vehicle (SPV). The agreement involves setting up a dedicated 9.9 MW wind-solar hybrid power plant to procure electricity through the captive consumption mechanism.The PPA outlines the terms for the generation and supply of power, which will be used exclusively by Century Enka Limited at one of its facilities in Bhosari, Pune, Maharashtra, under the Captive Rules. The project will be operated by the Power Producer.Under the provisions requiring a minimum equity stake to qualify as a captive user, the company must hold at least...