Markets

Shyam Metalics Acquires 26% Stake in Emerge Green Power for Renewable Energy Sourcing Shyam Metalics and Energy Limited (SMEL) has acquired a strategic investment stake in Emerge Green Power Private Limited (EGPPL), making SMEL an Associate Company of EGPPL. This acquisition involves the purchase of 26,000 equity shares of EGPPL for ₹ 75,01,260, enabling SMEL to qualify as a captive user and utilize renewable energy sources in its operations.The investment positions Shyam Metalics to benefit from preferential tariffs associated with green energy, which will help reduce overall energy costs and facilitate the use of sustainable power generation.Key Details of Acquisition The transaction details relate to EGPPL, an Indian company...

3i Infotech Secures ₹14.71 Crores Contract for Managed Services from NCDEX 3i Infotech Ltd has secured a significant purchase order valued at approximately ₹14.71 crores for the renewal of key managed services provided to National Commodity & Derivatives Exchange Ltd. (NCDEX). The contract covers Managed Services, onsite Facility Management Services (FMS), and Asset Management services, with an execution period spanning three years.The engagement involves comprehensive infrastructure management for NCDEX's technology operations. 3i Infotech Limited will continue providing critical support in areas including endpoint support, data centre operations, disaster recovery operations, server administration, database administration, network...

SEBI Closes Probe into Stock Trading Misconduct: Avance Technologies Pays ₹9,75,000 Settlement The Securities and Exchange Board of India (SEBI) has issued a formal Settlement Order regarding Avance Technologies Ltd., closing an adjudication proceeding that involved alleged irregularities in the trading of Cressanda Solutions Limited stock. The resolution marks the culmination of several months of investigation and negotiation into market conduct violations.Charges Alleged Against Avance Technologies Ltd. The adjudication proceeding against Avance Technologies Ltd. was initiated by SEBI concerning alleged violations of provisions under the Securities Contracts (Regulation) Act, 1956 (SCRA). The allegations focused on off-market...

Shree OSFM E-Mobility Reports Financial Results and Confirms Fund Utilization Amid Stable Operations Shree OSFM E-Mobility Limited has released its audited financial results for the half and year ended March 31, 2026. The company's Board of Directors reviewed these results, which reflect operational activity across its primary segment in passenger transportation services. The company also provided certified details on the utilization of funds raised through Initial Public Offering (IPO) and Preferential Issues.The independent audit confirmed that the financial statements provide a true and fair view of the Company’s state of affairs as at March 31, 2026.Financial Highlights The financial results show the company's performance across...

Apex Ecotech Corrects Designation of Mr. Aryaman Dosajh in Management Update Apex Ecotech Limited has issued a corrigendum regarding its previous management update, clarifying an inadvertent error concerning the designation of Mr. Aryaman Dosajh.The company stated that there was a mistake in the designation reported for Mr. Aryaman Dosajh in the earlier disclosure. The correct designation should be "Lead - Strategy & Growth," replacing the previously stated title, which was "Lead - Strategy Initiative."Except for this specified correction, all other details contained in the original management update dated June 18, 2026, remain unchanged.APEXECO Stock Price Movement Apex Ecotech Limited shares rallied today, closing at ₹223.80...

RBI Imposes Heavy Monetary Penalty on Nashik Bank for Noncompliance in Director Loans Reserve Bank Levies ₹2 Lakh Fine on Nasik Road Deolali Vyapari Sahakari Bank Ltd. The Reserve Bank of India (RBI) has imposed a significant monetary penalty on The Nasik Road Deolali Vyapari Sahakari Bank Ltd., Nashik. This action stems from the bank's noncompliance with specific directions issued by the RBI concerning lending practices to directors and their associated firms.The penalty, finalized in an order dated June 12, 2026, amounts to ₹ 2,10,000/- (Rupees Two Lakh Ten Thousand only). The imposition is made under the powers conferred upon the RBI by Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.Basis...

Dhampur Sugar Mills Declares and Pays 20% Interim Dividend for FY 2025-26 Dhampur Sugar Mills Limited announced that its Board of Directors had declared an Interim Dividend for the Financial Year 2025-26, subsequently paying the dividend to shareholders on June 8, 2026.The Company’s Board of Directors meeting, held on May 20, 2026, approved the declaration of an Interim Dividend equivalent to 20%. This translates to a payment of ₹2.00 (Rupees Two only) per equity share, based on the shares having a face value of ₹10 each.The Board confirmed that the dividend has been paid to shareholders whose names were recorded in the Register of Members or the records of the Depositories as of the Record Date. The payment was remitted to...

Suraj Industries Ltd Approves Acquisition of CARYA Chemicals via Loan Conversion Suraj Industries Ltd has approved the proposed acquisition of equity shares in Carya Chemicals & Fertilizers Private Limited (CARYA). The transaction involves converting an outstanding unsecured loan granted by Suraj Industries to CARYA into equity shares.The decision was made during a Board meeting held on June 18, 2026. The company has agreed to acquire the equity of CARYA against the conversion of the ₹25,00,00,000/- unsecured loan that it provided to the target entity. This acquisition is designated as a Related Party Transaction and is planned to be completed based on a valuation report issued by an IBBI Registered Valuer appointed by CARYA.The...

Ms. Vijaya Mani Sells Stake in Colinz Laboratories Ltd; Acquirers Secure Significant Equity Holding Colinz Laboratories Ltd has confirmed a substantial share sale of its equity shares through a Share Purchase Agreement (SPA). The transaction involves the promoter, Ms. Vijaya Mani, selling a significant portion of her holdings to three individuals who will collectively become promoters and acquire control rights over the company upon completion of the deal.The SPA, executed on June 18, 2026, involved Ms. Vijaya Mani (the Seller) and Annjana Dugar, Likhitta Dugar, and Antraiksh Dugar (collectively referred to as The Acquirers).According to the agreement details, Ms. Vijaya Mani is transferring an aggregate of 8,70,500 fully paid up...

Diamond Power Infrastructure Board Approves Equity Issuance via QIP Seeking Rs 2,000 Crore Funding Diamond Power Infrastructure Limited announced key outcomes from its Board of Directors meeting held on June 18, 2026. The board approved the issuance of equity shares through Qualified Institutions Placement (QIP) to raise funds, while also constituting and reconstituting several critical governance committees.The company has enhanced its authorized fundraising capacity, approving a limit not exceeding Rs 2,000 Crores for the issuance of equity shares through QIP. This represents an increase in the previously approved limit from ₹1,000 Crores. The management noted that this funding exercise is intended to assist the Company in achieving...

Travel Food Services Ltd Awarded License to Operate F&B Outlet at Bengaluru International Airport Travel Food Services Limited has been awarded a license agreement by Bangalore International Airport Limited (BIAL) to operate a Food and Beverage (F&B) outlet at Terminal 1 of Kempegowda International Airport in Bengaluru.The Agreement, dated June 3, 2026, grants Travel Food Services the right to operate one F&B outlet at the airport facility. The contract was awarded by the domestic entity, BIAL.This licensing opportunity provides a five-year tenure for the operation of the food and beverage service at the Kempegowda International Airport in Bengaluru.The terms regarding the operational scope state that the company will be managing...

Travel Food Services Ltd Secures 5-Year License to Operate F&B Outlet at Bengaluru Airport Terminal 1 Travel Food Services Limited has entered into a significant partnership agreement to operate a Food and Beverage (F&B) outlet at Kempegowda International Airport in Bengaluru. The company signed the License Agreement with Bangalore International Airport Limited (BIAL), granting it the right to operate one F&B outlet at Terminal 1 of the airport.The license grants Travel Food Services Ltd the opportunity to manage the F&B operations for a period of five years at the busy international airport in Bengaluru.This domestic agreement outlines the terms and conditions under which the company will serve travelers, with payment details...

RBI Imposes Monetary Penalty on Maharashtra Cooperative Bank for Violating Exposure Norms The Reserve Bank of India (RBI) has imposed a monetary penalty totaling ₹20,000/- on Wardha District Ashirwad Mahila Nagari Sahakari Bank Maryadit, located in Hinganghat, Maharashtra. This disciplinary action follows a review conducted by the central bank regarding regulatory compliance standards for Unions and Cooperative Banks (UCBs).The penalty was formalized by the RBI via an order dated June 15, 2026. It addresses specific non-compliance issues related to 'Exposure Norms & Statutory/ Other Restrictions' set forth by the regulator.Details of Regulatory Breach and Penalization The imposition of the fine is carried out in exercise of powers...

Baheti Recycling Industries Limited Approves Director Appointments and Market Platform Migrations Baheti Recycling Industries Limited, at a meeting held on June 18, 2026, approved several key decisions regarding its market presence and Board composition. The company decided on the migration of its equity shares across major stock exchanges and appointed two new independent directors.The Board considered and sanctioned the migration of the company's listing/trading from the SME Platform (EMERGE) of the National Stock Exchange of India (NSE). Additionally, the company approved direct listing and trading of its equity shares from the NSE SME platform to the Main Board of the Bombay Stock Exchange (BSE).The meeting also approved the...

Landmark CETA Agreement Set to Ignite Trade Boom as UKIBC Pledges Support for India's Economic Ambitions The landmark India-UK Comprehensive Economic and Trade Agreement (CETA) is set to enter into force on July 15, promising unprecedented opportunities between two of the world's most dynamic economies. This strategic partnership, highlighted by both Prime Ministers Narendra Modi and Keir Starmer, underscores a shared vision for advanced defense technology and innovation-led collaboration.The UK India Business Council (UKIBC), which serves as a policy advocacy and strategic consulting entity focused on boosting UK-India trade, welcomed the official announcement of the pact's implementation. The CETA represents a major milestone in...

USTR Probes Force Industry Action: India Urges Stakeholders to Fight Back in Section 301 Investigations The Commerce Ministry held a crucial meeting with industry stakeholders on June 18, urging active participation in the ongoing US Section 301 investigations. The government is currently engaging with businesses to gain insight into their perspective regarding alleged forced labour-related trade practices and concerns surrounding industrial excess capacity.A senior commerce ministry official advised exporters not to rely exclusively on the government’s formal submissions. Industry participants were strongly encouraged to actively engage in the process by filing rebuttals and appearing at scheduled hearings, ensuring sector-specific...

RBI Penalizes Navapur Mercantile Bank Over Statutory Compliance Lapses The Reserve Bank of India (RBI) has imposed a monetary penalty on Navapur Mercantile Co-operative Bank Ltd., Nandurbar, Maharashtra. This action targets breaches related to the provisions of the Banking Regulation Act, 1949 (BR Act). The bank was fined ₹10,000/- for failing to furnish requisite information requested by an RBI inspecting officer.The penalty order, issued on June 16, 2026, comes following a statutory inspection conducted by the central bank. The investigation focused specifically on the financial position of Navapur Mercantile Co-operative Bank as of March 31, 2025. This action underscores RBI's continuous focus on rigorous compliance within the...

YKK India to Invest USD 150 Million in New Manufacturing Facility at Origins by Mahindra Chennai: Mahindra Industrial Park Chennai Limited (MIPCL), a joint venture between Mahindra World City Developers Limited and Sumitomo Corporation of Japan, has announced that YKK India Private Limited will establish a new manufacturing facility within the integrated industrial cluster, Origins by Mahindra, Chennai. This move positions the Indian subsidiary of YKK Corporation as a growing player in the nation's industrial landscape.The new facility is planned to cover approximately 149,936 square metres and involves a total investment of USD 150 million. According to YKK India, this will be its third manufacturing plant in India, with completion...

Avience Biomedicals IPO Sees Near 10x Subscription: Diagnostics Player Seeks Major Expansion Capital Avience Biomedicals, a rising star in the diagnostic solutions space, has witnessed a resounding success on its maiden day of bidding. The initial share sale attracted significant investor interest, achieving a massive 9.68 times subscription as of June 18.The IPO sought to raise ₹30.2 crore through the issuance of 14.53 lakh shares. Bidders included 6,857 applications for a total of 1.01 crore shares. The offering price range was set at ₹196-₹208 per share.Investor Reception and Offer Details The strong investor response spanned across various segments of the market. Non-institutional investors (NITs) bid at 13.4 times their...

Environmental Clearance Revoked for Brigade Morgan Heights in Chennai; Company Objects Brigade Enterprises Ltd has strongly objected to the revocation of the Environmental Clearance (EC) for its residential project, 'Brigade Morgan Heights,' by the State Level Environment Impact Assessment Authority (SEIAA). The company asserts that the cancellation is factually incorrect and legally unsustainable.The project is located in Perumbakkam Village, Chennai. Brigade contends that the site consists of private patta lands classified as dry lands dating back to 1935, which have been under the continuous possession of current landowners since 1985. The company entered into a Joint Development Agreement (JDA) with the landowner for the property...