Markets

RBI Penalizes Sarvodaya Commercial Bank for Noncompliance in Handling Inoperative Accounts The Reserve Bank of India (RBI) has levied a significant monetary penalty against Sarvodaya Commercial Co-operative Bank Ltd. in Gujarat. The action underscores the central bank's stringent oversight regarding regulatory adherence, particularly concerning the management of inoperative and unclaimed deposits across financial institutions.Monetary Penalty Imposed on Co-operative Bank The RBI imposed a monetary penalty amounting to ₹ 20,000/- (Rupees Twenty thousand only) on Sarvodaya Commercial Co-operative Bank Ltd., Mehsana. This decision was formalized through an order dated May 29, 2026. The imposition of the fine is part of the RBI's...

DCW Ltd contests Port Authority's interest and GST demand over lease rent DCW Ltd is contesting a significant demand from the Estate Management Division of V. O. Chidambaranar Port Authority regarding interest and Goods and Services Tax (GST) on lease rent, arguing that the charge violates terms set by the Hon'ble Madras High Court.The dispute centers around the revision of lease rent paid by DCW Ltd to the port authority. The company has received a demand notice from the Estate Management Division of V. O. Chidambaranar Port Authority (Ministry of Ports, Shipping & Waterways, Govt. of India), Tuticorin District. This communication was dated June 11, 2026, and was received by DCW Ltd on June 16, 2026.According to the demand letter...

Prabhat Technologies Appoints Shivanshu Pandey as Managing Director Prabhat Technologies (India) Ltd has appointed Mr. Shivanshu Pandey as its new Managing Director. The appointment was approved by the company members during a meeting held on June 18, 2026.Mr. Pandey's designation as Managing Director is effective from May 15, 2026, and he will serve in this capacity for a period of five years.The Board has approved the change in designation, noting that Mr. Pandey possesses extensive experience across corporate governance, strategic planning, business management, and organizational leadership. His expertise and leadership capabilities are expected to significantly contribute towards the long-term development and growth of Prabhat...

Dai-Ichi Karkaria Ltd Confirms Full Disclosure Regarding Share Price Movements Dai-Ichi Karkaria Ltd has clarified the reasons behind recent market movements of its shares, stating that all events and material information pertaining to the company have been disclosed promptly.The company addressed inquiries regarding its share price movement, asserting that it had always disclosed all performance-related and price sensitive information within stipulated timelines.Dai-Ichi Karkaria Ltd stated that there is no pending information or announcement from the company that could impact the stock's price movement. The company emphasized that current movements in the share price are purely market driven, and Dai-Ichi Karkaria Ltd has no...

Board Reviews Compliance Status Over Non-Compliance Related to Name Change Craftroot Retail Ltd, formerly known as Nirbhay Colours India Limited, conducted a Board meeting in which it reviewed matters concerning corporate compliance following its name transition.The company's Board took note of a warning letter received regarding non-compliance with regulatory requirements related to the change of name from "Nirbhay Colours India Limited" to "Craftroot Retail Limited."During the deliberation, the Board examined the circumstances leading to the noted non-compliance, including procedural aspects related to the management transition that occurred during the open offer process. The board determined that the identified non-compliance was...

Manas Polymers and Energies Limited Board Approves Significant Increase in Authorized Share Capital Manas Polymers and Energies Limited has approved a major expansion of its authorized share capital during a recent board meeting, with the increase subject to shareholder approval at an upcoming Extraordinary General Meeting (EGM). The move outlines the company's plans for future growth and capital structure.The Board of Directors considered and recommended increasing the Authorized Share Capital from INR 10,00,00,000 to INR 30,00,00,000. This increase involves a tripling of authorized shares while maintaining the current nominal value per share.Details regarding the proposed capital structure are as follows:MetricExisting...

Amara Raja Energy & Mobility Announces Cancellation of Investor Call Scheduled for June 18, 2026 Amara Raja Energy & Mobility Ltd announced today that a virtual meeting involving its management team and investor ICICI Prudential Life Insurance could not take place as scheduled. The call was set for 03:30 PM IST on June 18, 2026.The company stated that the cancellation was due to a last minute exigency. The originally scheduled analyst/investor engagement between Amara Raja Energy & Mobility Ltd and ICICI Prudential Life Insurance needed postponement.Stock Price Movement At the close of trading today, shares of Amara Raja Energy & Mobility Ltd settled at ₹851.45, dropping by 0.46%. Throughout the session, shares traded within a range...

TruAlt Bioenergy Secures ₹150 Crore Financial Assistance for Sustainable Aviation Fuel Project TruAlt Bioenergy Limited, a leading integrated biofuels company and India's largest ethanol producer, has received financial assistance approval worth ₹150 crore for its proposed commercial-scale Sustainable Aviation Fuel (SAF) project. The funding comes under the Government of India's PM JI-VAN Yojana (Jaiv Indhan-Vatavaran Anukool Fasal Awashesh Nivaran Yojana).The approval was granted by the Centre for High Technology (CHT) under the Ministry of Petroleum & Natural Gas (MoPNG). This milestone is set to drive TruAlt’s expansion into advanced biofuels and sustainable aviation solutions. The approved financial assistance of ₹150 crore is...

Apex Ecotech Secures Order from Pansen Engineering India Pvt Ltd Apex Ecotech Limited, formerly known as Apex Ecotech Private Limited, has received an order from Pansen Engineering India Pvt Ltd. The contract pertains to WTP, ETP, ZLD, and STP solutions and is valued within the range of INR 15 crores to 20 crores.The business agreement with the domestic client, Pansen Engineering India Pvt Ltd, covers the execution period spanning 2026-27. Apex Ecotech confirmed that this order does not involve any interest from the company's promoters or falls under related party transactions.Key details regarding the order are summarized below:ParticularsDetailsName of ClientPansen Engineering India Pvt LtdNature of ContractWTP, ETP, ZLD...

Himadri Speciality Chemical Increases Stake in IBC through Further Investment Himadri Speciality Chemical Limited has announced a further investment into International Battery Company, Inc. (IBC), raising its aggregate stake to 20.47% on a fully diluted basis. The transaction underscores the deepening partnership between the two firms in the advanced battery technology sector.The company had previously invested USD 5.43 Million and held a 17.29% stake in IBC. The recent investment involved an infusion of USD 0.66 Million to acquire an additional 6,00,000 Common Stock of IBC, which has a face value of USD 0.00001 each.With this acquisition, the total cost incurred for the aggregate stake of 20.47% in IBC is reported at USD 6.09...

India Launches PM Research Chair Scheme to Ignite Global Innovation Pipeline and Magnetize Top Scientists The Central government has unveiled the Prime Minister Research Chair (PMRC) Scheme, a major initiative designed to transform India into a preeminent global knowledge and innovation hub. The scheme aims directly at attracting world-class researchers, scientists, and professionals who are of Indian origin but reside abroad. By establishing this structure, the government seeks to drive cutting-edge research within national laboratories and premier institutions across the country.Scope and Vision of the PMRC Scheme The Prime Minister Research Chair (PMRC) Scheme outlines a robust plan to engage highly skilled talent over the next...

Global Oil Tensions Ease: India Likely to Roll Back Emergency Fuel Controls as Strait of Hormuz Stabilises The government is poised to review and gradually ease the emergency energy security measures introduced in response to heightened geopolitical tensions in West Asia. This move comes following the release of an interim agreement signed by US and Iranian presidents aimed at ending their 111-day war.These precautionary restrictions, which include stricter monitoring of LPG supplies and prioritized domestic natural gas allocations, were put in place to protect domestic energy availability amid concerns over potential disruptions to global oil and gas supply chains. The official noted that the measures will be reviewed once confidence...

Prime Minister's Grand Address at VivaTech 2026 Promises Tech Revolution as Global Leaders Gather The anticipation surrounding the Prime Minister’s address during VivaTech 2026 in Paris centers on its projected impact on India's technological trajectory. The global stage awaits key takeaways from the speech, which is poised to redefine dialogues around innovation and digital transformation for emerging economies. This event brings together leading minds in technology, policy, and industry worldwide.The discourse surrounding future-proofing national infrastructure against rapid technological changes remains a focal point of attention. Market observers are intensely focused on how the address will shape policy implementation across...

TruAlt Bioenergy Secures ₹150 Crore for Sustainable Aviation Fuel Project under PM JI-VAN Yojana Bengaluru, June 18, 2026: TruAlt Bioenergy Limited, recognized as India's largest ethanol producer and a leading integrated biofuels company, announced that it has received financial assistance approval amounting to ₹150 crore. This approval is granted under the Government of India's PM JI-VAN Yojana (Jaiv Indhan-Vatavaran Anukool Fasal Awashesh Nivaran) for its proposed commercial-scale Sustainable Aviation Fuel (SAF) project located in Bagalkot, Karnataka.The significant milestone was granted by the Centre for High Technology (CHT) under the Ministry of Petroleum & Natural Gas (MoPNG). The financial assistance of ₹150 crore is slated to...

Q-Line Biotech Reports Significant Profitability Surge in FY26; Revenue Up 9.13% Q-Line Biotech Limited, a major manufacturer of diagnostic test kits and laboratory equipment, has reported audited financial results for the half year and full year ended March 31, 2026. The company saw substantial growth in profitability, with Profit After Tax (PAT) surging by 56.75% Year-on-Year (Y-o-Y).The Board of Directors approved the results at its meeting on June 17, 2026. Q-Line Biotech serves diagnostic laboratories and hospitals across 26 states from its headquarters in Lucknow, driven by sustained product demand and market expansion efforts.Financial Performance Overview The company's financial performance showed strong momentum throughout...

Fujiyama Power Systems Receives Customs Show Cause Notice Over Differential Duty of Nearly Rs 14 Crore Fujiyama Power Systems Limited has received a Show Cause Notice from the Office of Assistant Commissioner of Customs, Noida Customs Commissionerate, concerning allegations related to imported goods. The notice demands recovery of differential duty amounting to approximately Rs 13.97 Crores.The dispute arises from alleged mis-declaration and ineligible use of an exemption notification for goods imported in FY 2024-25 and previous periods. The Company is required to respond regarding the reclassification and subsequent financial liability.As detailed by the Customs authority, the notice was issued on June 17, 2026.Dispute Details...

Veer Global Infraconstruction Ltd Receives In-Principle Approval from BSE for Loan Conversion into Equity Shares Veer Global Infraconstruction Limited has secured in-principle approval from the Bombay Stock Exchange (BSE) Limited regarding a planned issuance of equity shares on a preferential basis. This approval facilitates the conversion of loans into equity shares by the company.The exchange granted the 'in-principle' approval for the issuance of 8,00,000 equity shares to non-promoters. The shares are offered with a face value of Rs. 10/- each, and the issue price has been set at not less than Rs. 85/- per share.The company is required to ensure that the issuance and subsequent allotment of these securities comply strictly with...

GeeCee Ventures Increases Stake in GMR Power and Urban Infra Limited through Open Market Purchase Geecee Ventures Ltd has increased its investment stake in GMR Power and Urban Infra Limited (GPUIL) following a recent open market purchase, bringing the cumulative investment in the infrastructure firm to Rs 2.14 crores.The transaction involves Geecee Ventures making an investment of Rs 0.03 crores by acquiring 2,500 Equity Shares of GPUIL. This latest acquisition brings GCVL's total financial commitment in GPUIL over the threshold specified for reporting purposes, noting that the company was previously holding 2,00,000 Equity Shares in GPUIL.The investment is part of Geecee Ventures' investment activities, with management stating that...

Agri Revolution: Smart Warehousing System Rolls Out to Secure India's Food Grain Supply Chain The government has significantly advanced the infrastructure supporting the agricultural sector with the official launch of a state-of-the-art Smart Warehousing System for foodgrain storage. Union Minister Shri Pralhad Joshi presided over the ceremony, marking a major stride toward stabilizing food supply chains across the nation. This initiative introduces modern technological solutions to enhance efficiency and security in food grain management.Enhancing Food Grain Storage Through Technology The introduction of this smart warehousing system addresses long-standing challenges in agricultural storage infrastructure. By integrating advanced...

India's Tech Vision: Prime Minister and Mistral AI Chief Chart Course for Global Trustworthy AI Innovation A high-level dialogue focused on the future of artificial intelligence took center stage as the Prime Minister engaged in discussions with Arthur Mensch, CEO of Mistral AI. The meeting underscored the pivotal role of technology leadership in shaping global policy. Key themes revolved around establishing trusted AI frameworks, accelerating domestic innovation, and strengthening international cooperation in a rapidly evolving tech landscape.The engagement highlighted the growing alignment between national technological strategy and the imperative for ethical AI development. By focusing on "trusted AI," both parties acknowledged...