Markets

Subsidiary Faces Drug License Suspension in Telangana; Potential Revenue Loss Cited Medplus Health Services Ltd's subsidiary, Optival Health Solutions Private Limited, has received an order suspending a drug license for one of its stores located in Telangana. The action taken by the regulatory authority details the suspension and potential financial implications for the company as reported on June 19, 2026.The suspension relates to a store situated at Saleemnagar Malakpet, Telangana, issued by the Assistant Director, Drugs Control Administration, Secunderabad.Key details regarding the licensing action are summarized below:AuthorityAction TakenDate of ReceiptViolation AllegedImpactAssistant Director, Drugs Control...

Univastu India Approves Preferential Issue of Warrants Worth Up To INR 16 Crore The Board of Directors of Univastu India Limited approved the creation and offer of warrants through a preferential issue on June 19, 2026. The move is set to raise up to INR 16,00,22,493/- by issuing a maximum of 18,39,339 warrants.The Board resolution approved the issuance of these fully convertible Warrants to persons belonging to the Promoter and Promoters Group Category and the Non-promoter Public Category. The Warrants are denominated at a face value of INR 10/- and were issued at an issue price of INR 87/- per warrant, representing a premium of INR 77/-.The payment structure for the warrants specifies that an amount equivalent to 25% of the Per...

Oberoi Realty Limited Announces Cessation of Senior Management Personnel Oberoi Realty Limited has announced the resignation of Ms. Priti Thakur from her senior management post. She resigned as Assistant Vice President - Customer Service, with June 19, 2026, noted as the date of cessation.Ms. Thakur tendered her resignation for better prospects. The details provided confirm that she held the role of Assistant Vice President - Customer Service within the company.OBEROIRLTY Stock Price Movement Oberoi Realty Limited shares settled today after shedding 0.34%, closing at ₹1683.5 in post-market trading. The stock activity saw a volume of 168,755 shares change hands during its session.

Jio Platforms Targets $4 Billion IPO: Reliance Files for India’s Largest-Ever Equity Offering Jio Platforms, the powerhouse digital arm of Reliance Industries, has officially filed a draft red herring prospectus (DRHP) with SEBI for an Initial Public Offering (IPO). The offering is touted by the company as being poised to be the largest in Indian history.The primary aim of this massive listing is debt repayment and strengthening the balance sheet. This strategically focused transaction marks a significant move towards greater transparency and capital optimization for the digital giant.Overview of the Jio Platforms IPO Structure The offering involves a fresh issue of 270 million equity shares, which constitutes approximately 2.9 per...

Ministry Approves Change in Largest Indian Shareholder of Entertainment Network The Ministry of Information and Broadcasting (MIB) has approved a significant change regarding the largest Indian shareholder of Entertainment Network (India) Limited (ENIL). The approval confirms the transfer of this designation from Bennett Coleman and Company Limited (BCCL) to Times Horizon Private Limited (THPL).According to documents released on June 19, 2026, the MIB's competent authority approved the request for changing the Largest Indian Shareholder of the company. This decision follows an application filed by ENIL regarding the ownership structure.The change in shareholder status is part of a reorganisation process involving BCCL and THPL...

South Indian Bank Boosts FCNR Deposit Rate to 6.5% After RBI Forex Swap Window Opens Banks Leverage RBI Forex Swap Facility for FCNR (B) Deposits South Indian Bank has significantly increased the interest rate on US dollar deposits under the Foreign Currency Non-Resident (Bank) or FCNR(B) segment. The bank announced that it has revised the deposit rate to 6.5 per cent per annum. This enhanced offer is specifically designed for tenures lasting three to five years.The increase comes as a direct response to the Reserve Bank of India's (RBI) introduction of a USD/INR forex swap facility. This facility directly benefits banks that mobilize fresh FCNR(B) deposits. The RBI's scheme allows these institutions to manage currency risks while...

Gold Price Plunges Amid Fed Hawkish Tone as US Dollar Strengthens; Precious Metals Trade Lower Global bullion markets witnessed subdued trading on June 19, as precious metals traded lower amid continued pressure from the Federal Reserve’s unchanged interest rate stance. The hawkish commentary from the Fed significantly strengthened the US dollar, dampening sentiment and reducing the appeal of non-yielding assets like gold. This shift prompted broad profit booking across bullion markets despite underlying structural support in the commodities.Precious Metals See Intraday Decline Amid Dollar Strength Domestic spot gold on MCX stood at ₹1,44,838 per 10 grams of 24-karat purity as of 13:57 IST, showing a decline of nearly ₹3,000 in a...

AG Ventures Ltd Announces Resignation of Chief Financial Officer AG Ventures Limited, formerly Oriental Carbon and Chemicals Limited, has announced that Mr. Aman Abhishek has resigned from his position as Chief Financial Officer (CFO).The company confirmed that Mr. Aman Abhishek will be relieved from his duties effective from the closing of business hours on 19 June 2026.Mr. Abhishek tendered his resignation to pursue career opportunities outside the organization. The management acknowledged his departure and expressed gratitude for the opportunities and experience gained during his tenure with AG Ventures Limited.Stock Price Movement AG Ventures Ltd. shares settled at ₹124.75 after today's trading, reflecting a decline of 2.58%...

Mega Institutional Bet: SBI Funds Management Snaps Up Stake in Knowledge Marine as Promoters Reduce Holdings The corporate investment landscape saw significant movements on June 19th, highlighted by a major block deal where SBI Funds Management acquired a substantial stake in Knowledge Marine & Engineering Works Limited. This transaction marks a notable instance of institutional capital flow into the company amidst promoter divestment.Major Institutional Transactions and Promoter Divestment SBI Funds Management successfully executed a block deal, purchasing 4 lakh shares of Knowledge Marine & Engineering Works Limited. The acquisition was valued at approximately Rs 78.5 crore, with SBI Funds Management paying ₹1,963.17 per share. This...

SEBI Signals No Replacement of Short-Term Derivatives as Regulator Seeks Market Structure Enhancements Securities and Exchange Board of India (SEBI) Chairperson Tuhin Kanta Pandey has provided clarity on the future direction of derivatives products, stating that the regulator is examining how short-term and longer-term contracts can coexist within a robust market framework. Speaking at a SEBI board meeting press conference on June 19, he emphasized that the focus is not on substitution but on design and incentive structures to support comprehensive market development.Pandey clarified that there should be "all kinds of products in the market," with the critical question being how their structure and relative incentive systems should be...

Bharat Forge Secures ₹425 Crore Contract with Ministry of Defence for Indian Navy Gas Turbine Generators Bharat Forge Limited (BFL) has secured a significant contract valued at ₹425 Crore from the Ministry of Defence (MoD). The agreement mandates the supply of Gas Turbine Generators (GTGs) to the Indian Navy (IN), designated for onboard power generation duties on Kolkata class ships.The contract is scheduled to be executed over a period of five years. These new GTGs, rated at 1.25 MW, will replace existing lower capacity units currently operating on these naval vessels.Strategic Impact and CapabilitiesAwarded under the Buy (Indian) category of the Defence Acquisition Procedure 2020 (DAP-2020), this contract marks a major step for...

Passenger Vehicle Market Set for Solid Rally: Analysts Project 4-6% Growth Driven by Affordability and Utility Demand Passenger vehicle sales are projected to experience a steady growth trajectory, forecasting an increase of 4-6 per cent in the upcoming fiscal year. This outlook is primarily attributed to sustained consumer demand momentum, improved affordability following GST rate cuts, and growing traction within the utility vehicle segment. The report by ratings agency Icra details these trends as key indicators for the automotive sector.Last Fiscal's Robust Sales Performance The previous fiscal year witnessed extremely strong growth across wholesale and retail segments. Passenger vehicle wholesale volumes recorded a substantial 27...

RBI Finalizes Revised Kisan Credit Card (KCC) Scheme Directions After Stakeholder Feedback The Reserve Bank of India (RBI) has released the final Directions governing the Revised Kisan Credit Card (KCC) Scheme for the financial year 2026-2027. This crucial regulatory issuance provides clear guidelines to various banking institutions regarding agricultural lending practices across India.RBI Issues Final Directions for Kisan Credit Card Scheme The RBI today issued the definitive directions, following a process that began with a draft release on February 12, 2026. The finalization ensures clarity and uniformity in the implementation of KCC schemes by all regulated financial entities.These instructions are vital for supporting the...

Two-Wheeler Industry Outlook: ICRA Forecasts Moderate 3-5% Growth in FY27 Amid Base Effect and El Niño Risks Sector Resilience Despite Hurdles The Indian two-wheeler industry is projected to experience moderate wholesale volume growth of 3-5 per cent in Financial Year (FY)27, according to the latest analysis by ratings agency ICRA. While challenges are noted, the sector continues to demonstrate significant resilience.ICRA highlighted that improving domestic demand and healthy retail momentum are key support pillars for the industry. Furthermore, sustained export growth is expected to bolster the overall market performance in coming years.The anticipated growth trajectory remains positively influenced by improved affordability...

FIIs Post Massive Buying Surge Amid Market Selloff as DIIs Turn Net Sellers Indian equity markets experienced a sharp selloff on June 19, characterized by mixed institutional flows and ongoing global economic concerns. While the benchmark indices saw declines driven primarily by tech sector weakness, foreign institutional investors (FIIs) registered significant net buying for the day.Market Indices Tumble as Tech Sector Weakens The Sensex declined by 607 points, falling 0.78 percent to close at 76,802.90. Similarly, the Nifty50 slipped 154.90 points or 0.64 percent, settling at 24,013.10. The overall decline was principally driven by selling activity in information technology stocks.The downturn intensified after global IT services...

THEKARURVYSABANKLIMITED Revisions MCLR, Base Rate and BPLR Rates THEKARURVYSABANKLIMITED has announced revisions to its Marginal Cost of Funds Based Lending Rates (MCLR), Base Rate, and Bank Prime Lending Rate (BPLR). These updated rates will be effective starting June 22, 2026.The bank provided detailed data on the revised lending rates across different categories as part of this revision.MCLR Rate Revisions The revisions to the Marginal Cost of Funds Based Lending Rates (MCLR) include changes for Overnight, One-month, Three-month, Six-month, and One-year periods:Nature of ROIExistingRevisedOvernight MCLR8.65%8.75%One-month MCLR8.55%8.65%Three-month MCLR8.85%8.95%Six-month MCLR9.00%9.10%One-year MCLR9.15%9.25%...

Massive Job Creation Push: PM Modi Unleashes ₹2,400 Crore via PM-VBRY, Recognizing Workers as Nation Builders Prime Minister Narendra Modi today disbursed incentives totaling approximately ₹2,400 crore under the Pradhan Mantri Viksit Bharat Rozgar Yojana (PM-VBRY). The special program, held at Vigyan Bhawan in New Delhi, underscores the government's commitment to formally empowering first-time employees and building a strong bridge between industry and the youth workforce.The initiative, which has been operational since August 1, 2025, is designed not merely as an employment scheme but as a robust framework strengthening the professional aspirations of young Indians. The Prime Minister emphasized that PM-VBRY simultaneously supports...

Patil Automation Secures ₹9.03 Crore Order for Spot Welding Line from Tier-1 Auto Customer Patil Automation Limited has announced a significant contract win, securing an order valued at Rs. 9.03 crores from a leading domestic Tier-1 automotive customer. The project involves the complete design, manufacturing, supply, installation, and commissioning of a specialized Spot Welding Line for Automotive Manufacturing.The deal underscores Patil Automation's growing presence in the specialized field of automotive automation solutions. The order is set to be executed by September 30, 2026.This contract reflects the confidence major automotive players have in the engineering capabilities and execution expertise offered by the company. As...

Vertoz Limited Files Patent Application for Cohort-Based Machine Learning Technology Vertoz Limited has filed a strategic patent application in India, reinforcing its commitment to advancing proprietary technology and expanding its intellectual property portfolio. The filing, made on 19th June 2026, targets critical advancements in supply-side platform operations.The patent application is titled: "METHOD AND SYSTEM FOR SUPPLY-SIDE PLATFORM AUCTION REQUESTS DECISIONING USING COHORT-BASED MACHINE LEARNING."This strategic move underscores Vertoz’s focus on innovation and long-term growth. The filing aims to reinforce the company's capability in enabling intelligent decision-making for supply-side platform auction requests. By utilizing...

VA Tech Wabag Obtains Favourable Rectification Order from GST Authorities; Demand Reduced VA Tech Wabag Limited has received a favourable rectification order from the GST authorities concerning an excess Input Tax Credit (ITC) claim pertaining to the financial year 2019-20. The resolution reduces the original demand significantly, which is set to be discharged by the company.The matter arose following a GST demand order issued by the Office of the Deputy Commissioner, GST Commissionerate, Uttar Pradesh, based on an allegation of excess ITC claim under Section 74 of the CGST Act. Initially, the GST demand stood at INR 43,73,666/-.On June 19, 2026, the company obtained a rectification order from the said authorities, which resulted in...