Markets

SEBI Greenlights Open Market Buybacks and Simplifies Securities Transmission for Investors Key Regulatory Overhaul: SEBI Approves Major Changes to Capital Markets Framework The 214th meeting of the SEBI Board in Mumbai on June 19, 2026, resulted in a comprehensive set of regulatory decisions aimed at enhancing market efficiency, strengthening investor protection, and simplifying core processes across various financial segments. The board deliberated extensively on issues ranging from facilitating securities transmission to revising regulations governing securitization and municipal debt markets.One significant area of focus was the re-introduction of Open Market Buy-back (OMBB) through stock exchanges. These amendments to the SEBI...

Davangere Sugar Company Limited Declares No Encumbrance on Promoter Shares for FY2026 Davangere Sugar Company Limited has issued a declaration confirming that the company's promoters and the promoter group have not created any encumbrances over their shares, directly or indirectly, during the financial year ended March 31, 2026.The declaration addresses the interests of the company and its associated individuals regarding the shareholding status of the founders. The statement confirms that, as of the reporting period, there were no encumbrances placed on the shares held by the promoters or those acting in concert.The promoter group making this declaration includes several key individuals and entities. Details of the promoter group...

Zaggle Prepaid Ocean Services Partners with Punjab National Bank for Co-branded Retail Credit Card Zaggle Prepaid Ocean Services Limited has entered into a strategic agreement with Punjab National Bank (PNB). The partnership, formalized on June 19, 2026, positions Zaggle as the cobranding partner aimed at driving the acquisition, marketing, and promotion of a new Cobranded Retail Credit Card Product.This domestic partnership focuses on leveraging Zaggle's existing corporate base to facilitate sales of the Co-brand Retail Credit Card. The collaboration is set for an initial term of five years.The key terms and conditions of the agreement have been outlined as follows:Contract DetailDescriptionPartnering EntityPunjab National...

Nestlé India Schedules Dividend Declaration Meeting and Q1 Earnings Review Nestlé India Limited has announced key dates regarding the declaration of a special dividend for 2026 and the release of its unaudited financial results for the first quarter ending June 30, 2026. The company also established specific timelines related to dividend entitlement and trading restrictions.A meeting of the Board of Directors is scheduled for Friday, July 3, 2026. This board meeting is intended to consider the declaration of a special dividend for 2026 from the Retained Earnings of the Company. The company also confirmed that this date serves as the Annual General Meeting where the special dividend and final dividend for the financial year 2025-26 may...

Divine Power Energy Limited Approves Modifications to Amalgamation Scheme with Viraj Upkram Private Limited Divine Power Energy Limited, a manufacturer of Winding Wires and Strips (Fiberglass/DPC/DCC/SE), has approved key modifications to its scheme of amalgamation involving Viraj Upkram Private Limited. The Board of Directors confirmed the revised Scheme after considering several necessary amendments pertaining to corporate objects and clerical details.The company's board meeting on June 19, 2026, reviewed and endorsed changes to the Schedule relating to the merger between Divine Power Energy Limited and Viraj Upkram Private Limited. One significant modification involved revising Paragraph 13.3 of the Scheme.This revision addresses...

Smartlink Holdings Limited Appoints Cost Auditor for Financial Year 2026-27 Smartlink Holdings Limited has appointed a cost auditor to oversee the audit of its cost records for the financial year 2026-27. The appointment was approved by the Board of Directors at their meeting held on June 19, 2026.The company appointed Mr. Shaunak Desai (ACMA 44386; FRN 002310) as the Cost Auditor. The appointment is designed to conduct the audit of the cost records for Smartlink Holdings Limited.Mr. Shaunak Desai is described as a seasoned practicing Cost Accountant who holds ACMA 44386 certification and Firm Registration Number 002310. His expertise covers costing projects and ensuring compliance with cost records.The auditor's portfolio spans...

Interworld Digital Ltd Approves Expansion into Consumer Electronics and Sets Key Financial Limits Interworld Digital Limited held a Board meeting on June 19, 2026, approving several significant operational and governance matters, including the adoption of a new line of business in consumer electronics. The company also sanctioned various financial limits for borrowing, investments, and material related party transactions (MRPT) ahead of an upcoming Extraordinary General Meeting (EGM).The Board approved the adoption of a new Memorandum of Association (MOA) and a new Articles of Association (AOA), both designed to align the company with contemporary governance practices and the Companies Act, 2013. Crucially, the directors approved the...

Hi-Tech Gears Limited Faces Liquidated Damages Demand of $5,000 from U.S. Customs and Border Protection The Hi-Tech Gears Limited has received a demand order for liquidated damages totaling $5,000 from the Department of Homeland Security U.S. Customs and Border Protection concerning the late filing of a Bill of Lading. The company is currently in the process of filing an appeal for a waiver of these liquidated damages with the appropriate authority.The demand was received on June 19, 2026. The penalty pertains to a violation related to U.S. laws regarding the late submission of the Importer Security Filing (ISF) for a specific Bill of Lading number.According to the details provided by the Customs and Border Protection, the ISF was...

Prestige Estates Projects Ltd Completes Partnership Reconstitution in Stellar Envision LLP, Sets 50% Stake Prestige Estates Projects Limited has completed a significant restructuring of its investment in Stellar Envision LLP, a wholly owned subsidiary. The company executed a reconstituted Limited Liability Partnership Deed following this process. As a result of the reconstitution, Prestige Estates Projects Limited's partnership interest in the LLP is now 50%.The primary focus of Stellar Envision LLP is to undertake real estate projects within Bangalore. This strategic move involves integrating and solidifying the investment structure to support future project execution by the subsidiary.A transaction detail was recorded related to...

Promoter Group Increases Stake in Unifinz Capital India Ltd Through Open Market Acquisition A significant increase in stake has been reported by the promoter group regarding Unifinz Capital India Limited (UCI). The acquisition involved shares transacted through the open market, detailing both previous holdings and the current quantum of interest held by the promoter.The details of the holding and transaction concern Pawan Kumar Mittal and Kiran Mittal, who are members of the promoter group in the target company, Unifinz Capital India Limited.Acquisition Details Before the recent acquisition, the combined holding of shares carried voting rights by Pawan Kumar Mittal and Kiran Mittal was 10,909,500 shares, representing 24.64% of the...

Rashtriya Chemicals Sets Record Date for NCD Interest Payment Rashtriya Chemicals and Fertilizers Limited has designated a record date for the upcoming interest payment pertaining to its Non-Convertible Debentures (NCDs). The company fixed Friday, July 17, 2026, as the specified record date.The interest payments are scheduled for August 7, 2026. These debentures consist of 30,000 listed, rated unsecured, redeemable, non-cumulative, taxable, non-convertible bonds, aggregating to RS.300 Crore.The details of the security and payment schedule are as follows:Security CodeSecurity DescriptionISINRecord DateInterest Payment DatePurpose97589030,000 Listed, Rated Unsecured, Redeemable, Non-Cumulative, Taxable, Non-Convertible Bonds in...

Maximus International Approves Acquisition of 40% Stake in Quebec Petroleum Resources Limited Maximus International Ltd has approved a strategic investment through the acquisition of a 40 percent stake in M/s. Quebec Petroleum Resources Limited. The decision was made by the company’s Board of Directors during its meeting held on June 19, 2026.The target entity, Quebec Petroleum Resources Limited, is based in Vadodara and has been engaged in Lubricants Manufacturing and Petroleum Products Distribution in the Indian market for over twenty years. The acquisition is viewed by Maximus International as a strategic move to penetrate the Indian domestic market within a similar business line with the objective of long-term value creation.The...

Shayona Engineering Ltd Receives Purchase Order valued at Rs 3.04 Crore from Domestic Customer Shayona Engineering Ltd has received a substantial purchase order from a domestic customer for the supply of engineering components, indicating continued business activity in the industrial sector. The order was received on Thursday, June 18, 2026.The contract involves supplying various engineering components to the client, with the overall consideration set at Rs 3,04,01,225/- including GST at 18%.While the specific name of the customer has been withheld due to contractual confidentiality agreements, the company confirmed that the order was placed by a domestic entity. The purchase order covers the supply of engineering components as per...

Bombay Super Hybrid Seeds Acquires Land for Expansion in Rajkot at Rs 1.40 Crore Bombay Super Hybrid Seeds Limited has completed the purchase of land necessary for its future expansion plans, acquiring an immovable property located in Kuchiyadad Village, District Rajkot. The acquisition was executed on June 18, 2026.The company purchased the uncultivated land intended for General Industrial Purpose. This strategic land is situated adjacent to the Company’s existing facility and will be utilized for its planned growth and expansion activities.Details regarding the acquired property and the transaction are summarized below:DetailInformationTransaction DateJune 18, 2026Total Consideration PaidRs 1,40,50,000/- (Rupees One...

NCLT Sanctions Amalgamation Scheme Between Aster DM Healthcare and Quality Care India Limited The National Company Law Tribunal (NCLT), Hyderabad Bench, has sanctioned the Scheme of Amalgamation involving Quality Care India Limited (QCIL) and Aster DM Healthcare Limited. The order was passed on June 19, 2026.The Scheme involves the merger of QCIL, designated as the Transferor Company, with Aster DM Healthcare Limited, identified as the Transferee Company. Both companies' respective shareholders and creditors are included under the sanctioned scheme.Under the terms of the approved Amalgamation, QCIL will be dissolved without winding up upon the completion of the process.The Scheme is set to become effective once the certified copy...

Albert David Limited Approves Appointment and Tenure of Mr. Amit Mahla as Whole-time Director & CEOBoard approval at Albert David Limited has formalized the role of Mr. Amit Mahla, expanding his responsibilities within the company structure. At its meeting held on June 19, 2026, the Board of Directors approved the appointment of Mr. Amit Mahla as an Additional Director and granted him the position of Whole-time Director & CEO of Albert David Limited.The appointments were made based on recommendations from the Nomination and Remuneration Committee and the Audit Committee. Mr. Mahla was previously appointed as CEO effective May 12, 2026. The Board approved his tenure as Whole-time Director & CEO for a period of five years, commencing...

Dhruva Capital Services Launches NeoMoney Digital Lending Platform on Google Play Store UDAIPUR | June 19, 2026 - Dhruva Capital Services Limited ("Dhruva Capital" or "the Company"), an RBI-registered Non-Banking Financial Company (NBFC), has officially announced the launch of its digital lending platform, NeoMoney, on the Google Play Store.NeoMoney is a technology-enabled application designed to provide eligible customers with a fully digital and secure borrowing experience. The platform facilitates comprehensive end-to-end digital loan processing. Its functionalities include customer onboarding, verification, loan application, approval, disbursement, and repayment management, all accessible through an intuitive user interface.The...

RBI's MPC Holds Policy Rate at 5.25% Amid Geopolitical Risks, Banks Focus on 'Wait and Watch' Approach Monetary Policy Stance Remains Neutral as RBI Reviews Global and Domestic Shocks The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI), in its sixty-first meeting held from June 3 to 5, 2026, voted unanimously to maintain the policy repo rate unchanged at 5.25 per cent. This decision was taken amidst evolving global and domestic developments, particularly the prolonged West Asia conflict and associated supply chain disruptions.The standing deposit facility (SDF) rate remains steady at 5.00 per cent. Consequently, the marginal standing facility (MSF) rate and the Bank Rate have been set at 5.50 per cent. The MPC...

Tirupati Innovar Ltd Approves Share Split and Bonus Issue, Records Key Director Resignations Tirupati Innovar Limited (formerly Tirupati Tyres Limited) announced several major corporate decisions following a Board of Directors meeting held on June 19, 2026. The outcomes include the approval of a share split and a bonus issue, alongside accepting the resignations of senior management personnel and a director.The company approved the sub-division (split) of its existing equity shares in the ratio of 1:10. This means that one Equity Share with a face value of Rs. 10.00/- will be split into ten Equity Shares, each with a face value of Rs. 1/-. The stock split is intended to enhance market liquidity and make the company's shares more...

Thiru R Kannan Appointed as Director at Tamil Nadu Newsprint and Papers Limited Tamil Nadu Newsprint & Papers Limited (TNPL) has appointed Thiru R Kannan, I.A.S., Commissioner of Sugar, as a Director on its Board. This appointment was approved by the company's Board of Directors.Thiru R Kannan assumed the role of Additional Director in the company with effect from June 8, 2026. The Government of Tamil Nadu nominated him for this position as the Commissioner of Sugar, replacing Thiru T Anbalagan, I.A.S., who held the post of Director of Sugar.The appointment details and qualifications of Thiru R Kannan are provided below:DetailInformationNameTHIRU R. KANNAN, I.A.S.Age & Date of Birth53 years (Born 1972)Educational...