Markets

Thomas Cook Receives Tax Order Regarding ITC Adjustment Demand Thomas Cook (India) Limited received an order from a Commercial tax Officer in Chennai regarding the improper adjustment of Input Tax Credit (ITC) against tax liability for the 5% Turnover.The company received the order on June 15, 2026, from the Commercial tax Officer, Group-IX, Intelligence-I, Tamil Nadu. The authority’s action confirmed a demand stemming from the wrongful adjustment of ITC against the specified tax liability.The order details the financial implications arising from the compliance review under CGST/TGST Act 2017.Key figures detailed in the order are as follows:ComponentAmount (INR)Tax Liability Demand13,94,644/-Interest Levied5,37,835/-...

YES BANK and Northern Arc Capital Partner to Strengthen Credit Flow in India Northern Arc Capital Limited (NACL) and YES BANK Limited have established a strategic partnership through a Memorandum of Understanding (MoU). The alliance aims to boost credit deployment for YES BANK by leveraging NACL's extensive network, thereby addressing the gap in available credit across various segments in India.The MoU, executed on June 15, 2026, outlines a comprehensive strategic alliance designed to integrate technology, finance, and distribution capabilities between both organizations. The partnership focuses on utilizing NACL’s 368 Originator Partners—financial institutions—to facilitate substantial credit deployment through YES BANK's Placements...

Unihealth Hospitals Approves Acquisition of Uganda Company Shares, Increases Share Capital Unihealth Hospitals Limited, formerly known as Unihealth Consultancy Limited, announced key corporate actions following its Board meeting held on June 15, 2026. The board approved initiatives spanning strategic acquisitions and a significant increase in the company's Authorized Share Capital (ASC).The management reviewed several matters, including a proposed stake acquisition of Victoria Hospital Limited, a company based in Uganda. Unihealth plans to acquire ordinary shares of Victoria Hospital Limited from Mr. Bhasker Kotecha and Dr. Chirag Jagdish Kotecha. This acquisition will be facilitated through a share-swap arrangement, where the company...

Devyani International and Sapphire Foods Scheme Receives Stock Exchange Observations Devyani International Limited has confirmed the receipt of observation letters from the National Stock Exchange (NSE) and BSE concerning the proposed Scheme of Arrangement involving itself and Sapphire Foods India Limited. The Scheme remains conditional upon securing statutory, regulatory approvals, and consent from shareholders and creditors of the involved companies.The company reported that it received an Observation Letter with 'no objection' from NSE and one with 'no adverse observations' from BSE regarding the draft scheme.A review of the filings reveals several specific conditions and disclosure requirements mandated by the exchanges for both...

MIRC Electronics Limited Changes Name and Stock Symbol to Onida Electronics Limited MIRC Electronics Limited has undergone a significant corporate rebranding, announcing the change in its name and stock symbol. Effective from June 19, 2026, the company will trade under a new identity reflecting its evolution.The transformation involves changing both the official name and the market symbol. Previously trading as MIRC Electronics Limited with the symbol MIRCELECTR, the entity will now be known as Onida Electronics Limited and traded under the new symbol ONIDA.This change marks a formal transition in the company's identity across the market. The details of the existing and new symbols and names are summarized below:MetricExisting...

Government Initiates Offer for Sale of Shares in General Insurance Corporation of India The President of India, acting through the Ministry of Finance, Government of India, has announced an Offer for Sale (OFS) of equity shares in the General Insurance Corporation of India (GIC). The offer is being conducted exclusively through stock exchange mechanisms and is structured across two trading days.The offering includes a Base Offer Size and a subsequent Oversubscription Option, with additional shares reserved for eligible employees.Offer Details SummaryShare CategoryMaximum Quantity OfferedPercentage of Paid Up CapitalBase Offer Size35,088,000 Equity Shares2.00%Oversubscription Option52,632,000 Equity Shares3.00%Total...

Global Markets Surge as US-Iran Deal Sparks Massive Oil Plunge and Risk Appetite Rebound Global markets rallied dramatically on the news of a tentative peace accord between the United States and Iran, fueling surging risk appetite across equity and commodity markets. Crude oil prices plummeted after the Strait of Hormuz was agreed to be reopened, easing global inflation concerns and providing a major lift to stock indices worldwide. The S&P 500 soared toward its largest advance since April, with the benchmark climbing approximately 2%.The tech-heavy Nasdaq 100 also posted strong gains, climbing 3% as investors reacted positively to the escalating hope of ending the protracted conflict. This volatility abatement helped Treasury yields...

Gland Pharma Limited Announces Key Governance Changes: Directorship Reappointments and Resignations Gland Pharma Limited's Board of Directors met on June 15, 2026, approving several significant changes concerning its directorial strength. The outcomes included the re-appointment of an Independent Director, the addition of a new Additional Director, and the acceptance of a resignation due to potential conflicts of interest.The Board meeting considered and approved the re-appointment of Mr. Udo Jahannes Vetter as an Independent Director for a second term of five consecutive years. His tenure is effective from July 21, 2026, through July 20, 2031.Furthermore, Mr. William Robert Keller was appointed as an Additional Director...

SEBI Proposes Major Overhaul of ETF Pricing Rules: Dynamic Price Bands and Call Auction Introduced Regulator Aims to Align ETF Trading Prices with Underlying Asset Values The Securities and Exchange Board (SEBI) has unveiled a significant proposal aimed at reforming the pricing mechanism for Exchange Traded Funds (ETFs). This move intends to narrow the persistent gap often observed between the actual trading price of an ETF and the value of the assets it tracks. The regulatory overhaul targets enhanced transparency and tighter alignment across the market.New Framework for Determining Base Price A core element of the SEBI proposal involves redefining how the base price for ETF trading limits will be calculated. Under the new framework...

GIC Re Stake Sale Launches: Government Targets Fiscal Boost as OFS Opens at ₹352 The government is set to divest a portion of its stake in General Insurance Corporation of India (GIC Re) through an Offer for Sale (OFS). This move forms part of the Centre's strategic initiative to mobilize non-tax revenue and strengthen fiscal resources.Department of Investment and Public Asset Management (DIPAM) Secretary Arunish Chawla confirmed the details, stating that up to 5 percent stake in GIC Re will be put up for sale at a floor price of ₹352 per share.The divestment process is structured across two phases. The OFS will open for non-retail investors on June 16, 2026. Retail investors and eligible employees of GIC Re are slated to bid...

RailTel Secures Major Work Order from Munitions India Limited for Infrastructure Upgradation Railtel Corporation of India Ltd. has secured a significant domestic work order from Munitions India Limited related to the upgradation of MPLS Bandwidth services. The contract pertains to existing COMNET 2.O infrastructure across various units within New Delhi.The order involves the specific upgradation of MPLS Bandwidth for all 45 units of 7 DPSUs and DoO, located in New Delhi. This domestic work order was received by Railtel Corporation on June 15, 2026, at 08:32.A total consideration of Rs. 15,77,99,597/- (including tax) has been awarded for the scope of work, which is expected to be executed by June 14, 2027. The order was granted by...

Leapfrog Engineering IPO Set to Surge Amid Strong Gulf Market Orders and Robust FY25 Performance Leapfrog Engineering Services Ltd., a Bengaluru-headquartered EPCC company, has fixed the price band for its Initial Public Offering (IPO). The listing is scheduled for Wednesday, with an offering size built upon strong order book visibility in international markets.The IPO aims to raise Rs 88.51 crore and introduces investors to the firm's established presence across crucial industrial sectors. The company has cultivated significant growth through both domestic and export-oriented projects.Details of the Leapfrog Engineering IPO Offering The offering is structured as a mixed issue, comprising both fresh equity shares and an Offer for...

Adani Enterprises and Jabil Target Strategic Alliance for Building AI Data Center Infrastructure Platform in India Ahmedabad / St Petersburg, FL, USA – June 15, 2026 – Adani Group, a leading integrated infrastructure and green energy conglomerate, and Jabil Inc., a global leader in engineering, supply chain, and manufacturing solutions, have announced an intent to form a strategic alliance. The collaboration aims to establish a world-class, vertically integrated AI and data center infrastructure manufacturing platform based in India.The partnership is designed to meet the explosive local and global demand for AI-ready data center hardware. This powerful combination integrates Jabil's six decades of advanced engineering expertise and...

Sensex Smashes Key Resistance as Geopolitical Ease and Oil Price Plunge Ignite FII Inflows Foreign Institutional Investors Record Net Buying After Eleven Sessions The Indian equity market witnessed a significant shift on Monday, as foreign institutional investors (FIIs) turned into net buyers for the first time in 11 trading sessions. This turnaround came amidst a robust rally fueled by easing geopolitical tensions and a dramatic correction in global crude oil prices.Provisional data revealed that FIIs purchased equities worth Rs 15,650.20 crore, against sales of Rs 15,450.15 crore, resulting in net inflows totaling Rs 200.05 crore. This movement marked a notable contrast to the previous session when FIIs had recorded net selling of...

Jyothy Labs Decides to Pursue Legal Remedies Regarding Brand License Agreements with Henkel Jyothy Labs Limited has announced that it will pursue legal remedies to assert its contractual rights related to the exit and transition mechanism under various agreements with Henkel AG & Co. KGaA. This decision follows internal evaluations after discussions were held concerning the licensing of Pril and Fa brands.The company confirmed this strategic shift following a meeting of its Board of Directors, noting that the move comes subsequent to previous communications regarding the non-renewal of these brands by Henkel AG & Co. KGaA.Jyothy Labs stated that it conducted an evaluation of all available options upon receiving communication from...

Angel One Limited Settles with SEBI; Adjudication Proceedings Disposed of Upon Remittance of Funds Angel One Limited has concluded its adjudication proceedings with the Securities and Exchange Board of India (SEBI) by settling a case concerning alleged lapses in supervision and monitoring. The proceedings, initiated against the entity regarding various violations, have been formally disposed of following the remittance of a settlement amount.The resolution pertains to allegations raised by SEBI relating to inadequate supervision and monitoring of Authorized Persons at Angel One Limited (AOL). These alleged contraventions included insufficient due diligence, failure to detect unauthorized fund collection, and non-compliance with...

Premji Invest Surges into Vedanta Iron & Steel as Group Entities Debut Amid Market Activity Premji Invest owned-PI Opportunities AIF has made a significant market move by acquiring a substantial stake in Vedanta Iron and Steel. This transaction comes amid the formal debut of four demerged entities from the sprawling Vedanta Group. The investment highlights continued interest in the restructured corporate assets.Premji Invest Acquires Stake in Vedanta Iron & Steel Premji Invest owned-PI Opportunities AIF successfully purchased 4.83 crore equity shares in Vedanta Iron and Steel for ₹101.67 crore. This open market transaction occurred on June 15th, marking a notable entry into one of the key demerged entities. The buying price was...

SpaceX Shares Skyrocket After Raising Record $85.7 Billion; Valuation Hits Over $2.5 Trillion SpaceX shares surged dramatically on Monday after the rocket and satellite technology firm announced it had successfully raised a record-breaking $85.7 billion in its IPO. This massive fundraising success cemented the company's stellar debut on Wall Street, placing it among the most valuable entities globally.The stock climbed 19.7 percent during Monday trading, closing at $192.8 per share. This jump extended a strong performance from Friday, when shares had already gained 19 percent following their initial listing on the Nasdaq at $135.Unprecedented Demand Drives Massive Valuation Hike The combined strength of investor demand and the IPO...

Ducon Infratechnologies Approves Rights Issue Up To ₹25 Crore to Strengthen Capital Base Ducon Infratechnologies Limited has announced that its Board of Directors approved a Rights Issue of equity shares aggregating up to ₹ 25 Crore. The strategic move is intended to strengthen the Company's financial position, enhance financial flexibility, and support its long-term growth objectives.The rights issue will be offered exclusively to eligible equity shareholders. The net proceeds from this offering are designated for specific purposes crucial to the company's operational and structural health. These purposes include repaying or prepaying unsecured loans taken from Arun Govil, Managing Director and Promoter of the Company, up to ₹ 9.52...

Foreign Investors Surge into Indian Bonds: $1.84 Billion Inflows Driven by Tax Reform Foreign institutional investors (FIIs) have decisively abandoned the sidelines, driving a massive inflow of capital into India's debt market. So far in June, FIIs injected $1.84 billion into Indian government bonds across just five trading sessions—a sharp reversal after remaining largely inactive for over a year.The recent surge signals a fundamental shift in foreign investor sentiment toward the nation's fixed-income instruments. This substantial inflow is primarily attributed to the Government of India’s critical policy decision on June 6th regarding capital gains taxes.Policy Shift Sparks Record Inflows into Indian Debt The government's move...