Markets

Sun Pharmaceutical Acquires 100% of Innovcare Lifesciences in Strategic Move to Bolster Product Portfolio Sun Pharmaceutical Industries Limited has entered into an agreement to acquire 100% of the outstanding shares of Innovcare Lifesciences Private Limited. The acquisition is set up as a strategic investment aimed at strengthening the product portfolio of Sun Pharma.The transaction involves cash consideration, and the total cost for acquiring the full stake in Innovcare stands at approximately Rs 271.2 Crores.Innovcare Lifesciences Private Limited, based in Mumbai, specializes in the marketing, distribution, and sale of pharmaceutical drugs, nutraceutical, and cosmeceutical products. The company was incorporated on July 21, 2014...

Promoter Pledges Shares in Flywings Simulator Training Centre Limited Ms. Rupal Sanjay Mandavia, a promoter of Flywings Simulator Training Centre Limited, has created an encumbrance over a portion of her equity shares in the company. The pledge was established in favor of Catalyst Trusteeship Limited and is linked to the issuance of Secured Non-Convertible Debentures for the benefit of the listed entity.The transaction details reveal that Ms. Mandavia holds 60,93,414 equity shares of Flywings Simulator Training Centre Limited, representing a 59.87% stake in the company. The creation of the encumbrance specifically covered 14,72,982 equity shares, which corresponds to 14.47% of the total share capital.The pledge was created to...

Himadri Speciality Chemical Limited Opens Mumbai Office to Strengthen Western Region Operations Himadri Speciality Chemical Limited has established a new office in Mumbai, aiming to strengthen its business presence and operational footprint within the Western Region. The opening of this facility marks a strategic move for the company as it continues its business operations.The details of the newly opened Mumbai Office are as follows:Name of the OfficeAddressDate of OpeningMumbai OfficeFleet House, 1st Floor, Andheri - Kurla Rd, Gamdevi, Marol, Andheri East, Mumbai, Maharashtra 400059.20-06-2026The establishment of the office is intended to bolster Himadri Speciality Chemical's operations in the Western Region.HSCL Stock...

Shashijit Infraprojects Updates Litigation Status of Leased Property Dispute in Gujarat High Court Shashijit Infraprojects Ltd., a company recognized for its ISO 9001:2015 certification in construction engineering, provided an update regarding the legal proceedings concerning its leased property acquired from Vapi Municipal Corporation.The matter continues to be pending before the Hon'ble High Court of Gujarat, relating to a dispute over the leased property originally obtained from the Vapi Municipal Corporation (erstwhile Vapi Nagar Palika).As per court updates, the case was scheduled for hearing before the Hon'ble High Court of Gujarat on June 18, 2026. However, the matter could not be heard and has subsequently been adjourned by...

AKSHARCHEM Commissions 2.4 MWp Ground Mounted Solar Power Plant for Captive Consumption AKSHARCHEM has successfully commissioned a new ground-mounted solar power plant, significantly bolstering its commitment to renewable energy initiatives. The facility is located in Village Sardarpura, Ta Jhagadiya, Dist Bharuch.The newly operational plant boasts a capacity of 2.4 MWp (DC) and 1.75 MWp (AC). This solar power generation has been operational since April 24, 2026. The commissioning was formalized following the receipt of a Certificate of Commissioning dated May 12, 2026, from the Gujarat Energy Development Agency (GEDA).The captive power generated by this facility is intended for use at the company's factory located in Dahej...

Subsidiary of Medplus Health Services Limited Receives 10-Day Drug License Suspension Order Optival Health Solutions Private Limited, a subsidiary of Medplus Health Services Limited, has received an order suspending its Drug License for one store located in Pune. The suspension relates to operations conducted at Chowk Saswad Pune and was issued by the Licensing authority of the Food & Drug Administrations in Maharashtra.The action taken involves the temporary suspension of the license for 10 days. This regulatory measure stems from alleged violations under Rule 65 of Drugs and Cosmetics Act, 1940 and Drugs and Cosmetics Rules, 1945.Details regarding the disciplinary action against the subsidiary are presented below...

Sical Logistics Placed Under Enhanced Surveillance Due to IBC Criteria Fulfillment; Weekly Trading Restriction Imposed Sical Logistics Limited has been subjected to an additional surveillance measure by the Stock Exchanges after its equity shares met specific criteria related to the Insolvency and Bankruptcy Code (IBC). The restriction is part of a broader market surveillance framework initiated by regulatory bodies and the exchanges to uphold market integrity and protect investor interests.The company obtained information regarding this matter from the websites of both the BSE Limited and the National Stock Exchange of India Limited, confirming that the placement under additional surveillance is effective as of June 22, 2026.A key...

Aksh Optifibre Limited enters Corporate Insolvency Resolution Process; Claims Invitation Issued M/s Aksh Optifibre Limited has commenced the Corporate Insolvency Resolution Process (CIRP), following a public announcement that invites stakeholders, particularly creditors, to submit their claims. The process initiated under Section 15 of the Insolvency and Bankruptcy Code, 2016, is set to run until December 16, 2026.The company's incorporation details show it was established on March 19, 1986, with its registered office located in Bhiwadi, Rajasthan. The CIRP commencement date for M/s Aksh Optifibre Limited is June 19, 2026.The purpose of the public announcement is to inform all stakeholders about the start of the insolvency process...

KRN Heat Exchanger Receives GST Order from Tax Authority Pertaining to Ineligible ITC Demand KRN Heat Exchanger and Refrigeration Limited has received an order from a State Tax authority regarding the recovery of tax, interest, and penalty related to the Rajasthan Goods and Service Tax Act, 2017 (RGST Act 2017).The Deputy Commissioner of State Tax, Circle Shahjahanpur, Zone: Bhiwadi, Rajasthan, passed the order on May 13, 2026. The company received the communication on June 19, 2026.The action initiated by the GST Authority relates to a demand for ineligible Input tax credit (ITC) for the Financial Year 2025-26.Key details of the order and the associated actions taken are presented below:AspectDetailsAuthorityDeputy...

Power Mech Secures ₹1,008.90 Crore Order for Civil and Structural Works from JSW Thermal Energy Power Mech Projects Limited has secured a significant contract worth ₹1,008.90 Crores from JSW Thermal Energy Limited for civil and structural works related to a major thermal power project in West Bengal.The order pertains to the Civil & Structural Works of the BTG Area for JSW Thermal Energy's 2x800MWThermal Power Project at Salboni, West Bengal. The contract was awarded by JSW Thermal Energy Limited, a domestic entity.This major infrastructure assignment mandates that the work be completed within 36 months from the effective date or commencement of the works.Key details regarding the order are as follows:ParticularDetail...

Ministry of Heavy Industries Approves Proposed Investment by lnovance Automotive in Uno Minda Subsidiary Uno Minda Ltd. has received approval from the Ministry of Heavy Industries regarding a proposed investment by lnovance Automotive (HK) Investment Co. Ltd. into its subsidiary, Uno Minda Auto Innovations Pvt. Ltd.The company confirmed that it obtained the necessary approval on June 19, 2026. This authorization was granted by the Ministry of Heavy Industries, under Press Note 3 of 2020 issued by the Department for Promotion of Industry and Internal Trade, Ministry of Commerce and Industry.Uno Minda Auto Innovations Pvt. Ltd., which is a wholly-owned subsidiary of Uno Minda Ltd., will be involved in this proposed investment by...

Greenleaf Envirotech Secures Letter of Intent worth Rs 1.52 Crores from Wipro Enterprises Pvt Ltd Greenleaf Envirotech Limited has secured a Letter of Intent (LOI) valued at Rs 1.52 Crores, inclusive of applicable GST, from M/s. Wipro Enterprises Pvt. Ltd. This contract is expected to bolster the company's order book and enhance its position within the water treatment and environmental infrastructure segment.The LOI covers a comprehensive range of services for Greenleaf Envirotech Limited’s works. The scope includes design, engineering, procurement of materials and bought out components, manufacture, assembly, inspection, and testing. Additionally, the contract involves painting, preservation packing, forwarding, dispatch...

Siyaram Recycling Industries Secures Rs 5,99,14,500 Order from The Supreme Industries Limited Siyaram Recycling Industries Ltd has secured a fixed cost order valued at Rs 5,99,14,500 from The Supreme Industries Limited. The contract involves the supply of MALE INSERT 1/2" HW CPVC & 3/4" AQUA & BRASS 3/4" HW (CPVC) and related items.The order details specify that Siyaram Recycling Industries Ltd will execute the contract within seven days.Key details regarding the order secured by Siyaram Recycling Industries Ltd from The Supreme Industries Limited are presented below:DetailInformationClient EntityThe Supreme Industries LimitedOrder NatureFixed costOrder ValueRs 5,99,14,500Origin of OrderDomestic entityDelivery...

Flywings Simulator Training Centre Approves Allotment of Unlisted Secured Debentures Flywings Simulator Training Centre Limited has announced that its Board of Directors approved the allotment of a tranche of debentures through a private placement. The decision followed resolutions circulated to the Board on June 19, 2026.The company approved the issuance of 200 unlisted, secured, redeemable, fully paid-up, and nonconvertible debentures. These debentures were issued for a total aggregate amount of INR 20,00,00,000 on a private placement basis.The financial details of the debenture allotment are as follows:Financial MetricDetailsType of InstrumentUnlisted, Secured, Redeemable, NonConvertible DebenturesNumber of Debentures...

CRISIL Assigns ESG Ratings to Rallis India Limited Based on Financial Year 2025-26 Data CRISIL ESG Ratings & Analytics Limited (CRISIL) has assessed the Environmental, Social, and Governance (ESG) performance of Rallis India Limited. The ratings were assigned following a review of the company’s disclosures for Financial Year 2025-26 and other publicly available data.The evaluation resulted in two distinct scores for the agricultural inputs firm. CRISIL assigned a 'Crisil ESG' rating of 59, alongside a Core ESG rating of 73 to Rallis India Limited.This assignment of ESG ratings details the company’s standing across key sustainability parameters as evaluated by the agency. The rankings are based on comprehensive data review covering...

AksharChem India Commissions 2.4 MWp Ground Mounted Solar Power Plant for Captive Consumption AksharChem India Limited has successfully commissioned a new ground mounted solar power plant designed for captive consumption at its Dahej, Gujarat factory. This development significantly enhances the company's renewable energy portfolio and commitment to sustainable power generation initiatives.The newly commissioned solar facility is located in Village Sardarpura, Ta Jhagadiya, Dist Bharuch. The plant boasts a capacity of 2.4 MWp (DC) and 1.75 MWp (AC).According to the company, the solar power generation at the site commenced on April 24, 2026. This operational start was formalized following the receipt of the Certificate of...

Sical Logistics Commissions New 2.4 MWp Ground Mounted Solar Power Plant for Captive Consumption Sical Logistics Limited has successfully commissioned its latest ground mounted solar power plant designed for captive use at its factory located in Dahej, Gujarat. This development reinforces the company's commitment to sustainable power generation and enhancing its renewable energy portfolio.The new facility is situated at Village Sardarpura, Taluka Jhagadiya, District Bharuch. The project features a significant capacity, measured at 2.4 MWp (DC) or 1.75 MWp (AC).Solar power generation at the site commenced effective from April 24, 2026. This operational start date is supported by the Certificate of Commissioning, which was received...

HyFun Foods Secures Massive ₹1,500 Crore Structured Credit Deal to Fuel Frozen Food Expansion and IPO Aspirations B2B frozen food manufacturer HyFun Foods has successfully raised a substantial ₹1,500 crore through a structured credit transaction with global investment firm Davidson Kempner. This major debt facility is set to significantly bolster the company's balance sheet as it navigates aggressive growth plans in the fast-moving consumer goods sector.The four-year tenure of the debt facility provides critical financial backing for HyFun. EY acted as the exclusive advisor to the Gujarat-based company during this significant fundraising round, which underscores the increasing institutional confidence in frozen potato products within...

Sun Pharmaceutical Industries to Acquire 100% Stake in Innovcare Lifesciences for Strategic Portfolio Boost Sun Pharmaceutical Industries Limited has entered an agreement to acquire 100% of the outstanding shares of Innovcare Lifesciences Private Limited, a company engaged in the business of marketing, distribution, and sale of pharmaceutical drugs, nutraceutical, and cosmeceutical products.The acquisition is designated as a strategic investment aimed at strengthening the product portfolio of Sun Pharma. The deal involves a cash consideration transaction, with the cost of acquisition stated at approximately Rs 271.2 Crores.Sun Pharmaceutical Industries Limited intends to complete the acquisition by July 31, 2026. There are no...

India's Fuel Shield: Minister Puri Confirms Domestic Prices Held Steady Despite Global Crude Volatility Stabilizing Consumer Burden Against Global Oil Market Chaos Union Petroleum and Natural Gas Minister Hardeep Singh Puri asserted that domestic petrol and diesel prices have not seen a significant increase, even amidst extreme volatility in international crude oil markets. Addressing the media in Sonbhadra, Puri stressed that government intervention has successfully protected consumers from excessive price hikes. He stated that if viewed in real terms, there has been no material rise in fuel costs across the country.Puri pointed out that Prime Minister Narendra Modi had implemented successive reductions in central excise duty (in...