Markets

Supreme Court Upholds Vested Mining Lease Rights Accrued Before 2015 Amendments A landmark judgment by the Supreme Court of India has reinforced the rights of mining lease applicants whose claims were established prior to significant statutory changes under the Mines and Minerals (Development and Regulation) Act, 1957. The Court clarified that applications with vested or accrued rights before certain timelines remain valid despite subsequent legislative amendments concerning auction processes.The judgment addressed a dispute regarding mining lease applications, ruling that if a decision to grant a mining lease, along with requisite approvals, was finalized before 2015, the applicant's entitlement continues irrespective of later...

Core Economy Alert: Wholesale Inflation Surges 8 Consecutive Months as Fuel Price Jumps amid New PPI Release India’s wholesale inflation experienced a sharp surge in May, registering at 9.68 percent. This significant jump is up from the previous reading of 8.26 percent reported in April. The rise signals mounting pipeline inflation pressures across the economy and marks the eighth consecutive monthly increase in the sector.The revised data, which utilizes the government’s newly established series based on a 2022-23 base year, indicates that fuel prices remain the principal driver of this inflationary trend. This continued pressure reflects persistent global commodity movements and geopolitical tensions affecting West Asia.Fuel and...

Persistent Systems Partners with San Francisco Unicorns as Official Re(AI)magining™ Partner for MLC 2026 Persistent Systems Limited, a global leader in Digital Engineering and Enterprise Modernization, has entered into a significant partnership with the San Francisco Unicorns for the 2026 Major League Cricket (MLC) season. The collaboration positions Persistent as an Official Re(AI)magining™ Partner within the team's premium partnership tier, highlighting the company’s focus on integrating AI and data-led innovation into high-performance sports environments.The partnership is designed to expand Persistent's capabilities in North America by focusing on real time, decision intensive environments. The initiative will be driven through...

Fintech Rally Ignites as Razorpay Files $600 Million IPO Papers; Unicorn Shares Surge Razorpay’s Confidentially Filed IPO Sparks Bull Run Across FinTech Sector The Indian fintech sector is witnessing a significant rally following reports that unicorn Razorpay has confidentially filed draft papers with the securities market regulator, SEBI, for an Initial Public Offering (IPO). This development has fueled positive sentiment across the industry, with shares of several fintech firms seeing sharp gains in trade on Monday.Investors are reacting to the news as the potential listing draws renewed attention and capital into the burgeoning financial technology space. Shares of companies like One MobiKwik Systems were among the top performers...

Smart Services Announces Open Offer for Sharp India Ltd Shares Representing 25 Percent Stake A pre-offer advertisement has been issued regarding an open offer by Smart Services Private Limited to acquire equity shares of Sharp India Limited. The offering aims to acquire up to 6,486,000 equity shares of the company.The pre-offer details confirm that the Acquirer, Smart Services Private Limited, is seeking to purchase a portion of Sharp India Limited's outstanding shares. The offer concerns a maximum quantity of 6,486,000 equity shares of Sharp India Limited, which are each valued at Rs. 10/-.The proposed acquisition represents 25.00% of the fully paid up and voting share capital of Sharp India Limited. The pre-offer advertisement...

G R Infraprojects Secures Railway Project: Appointed Date Declared by West Central Railway G R Infraprojects Ltd has received confirmation from the West Central Railway regarding a major railway construction project, setting the appointed date and solidifying the contract terms for the infrastructure undertaking in Madhya Pradesh.The company was informed by the West Central Railway that 15 June 2026 is the appointed date for the 'Construction of New Railway line from Km 124/400 to 165/380 in between Bahari and Gondawali stations.' This extensive project forms part of the Sidhi-Singrauli new Rail link in Madhya Pradesh.The scope of work under this contract is comprehensive, covering various aspects necessary for modern railway...

Sahana Defence Limited Lands Long-Term Contract with Central Electronics for Indigenous EW Manufacturing under Make in India Initiative Ahmedabad – Sahana Defence Limited, a subsidiary of Sahana System Limited, has secured a landmark long-term manufacturing contract with Central Electronics Limited (CEL). CEL, a Mini Ratna Public Sector Enterprise operating under the Department of Scientific & Industrial Research (DSIR), Government of India, is hosting the project. The agreement involves establishing and operating an Electronic Warfare (EW) Equipment and Weapon Periphery Manufacturing Facility at CEL's premises located in Sahibabad, Uttar Pradesh.This contract has been awarded as part of the Government’s "Make in India" initiative...

Vas Infrastructure Ltd's Financial Results for Q&Y Ended March 31, 2026; RP Committee Approves Figures Amid CIRP Proceedings Vas Infrastructure Ltd announced the approval of its Audited Financial Results and provided key financial statements for the quarter and financial year ended March 31, 2026. These results were reviewed and approved by the Resolution Professional (RP) Committee on May 26, 2026. The company also stated that its Annual General Meeting is scheduled for September 23, 2026.The financial outcomes presented show a Net Profit of 9.451 lakh in the quarter ending March 31, 2026, and a total profit/loss before tax of 33.918 lakh for the full year ending March 31, 2026.Financial Performance Highlights (Amounts in Lakhs)...

Bond Market Must Absorb Global Capital Surge As Minister Stresses Need for Broader Reforms The government indicated that recent tax relief measures targeting sovereign debt are not the end of the story, emphasizing the need for continuous efforts to attract greater foreign capital. Finance Minister Nirmala Sitharaman addressed the market during the Mindmine Summit 2026 in New Delhi, stating that while bond markets can absorb incoming funds, current reforms have been limited primarily to government securities.Sovereign Debt Market Needs Wider Reform to Attract Foreign Flow Sitharaman stated that the Centre, along with RBI, has taken steps concerning capital gains tax and withholding tax related to the bond market. Earlier this month...

Steel City Securities Sets Record Date for Final Dividend of Financial Year 2025-26 Steel City Securities Limited has announced the record date pertaining to the payment of its final dividend for the financial year 2025-26. The company fixed Tuesday, June 16, 2026, as this crucial record date.The announcement concerns the distribution of the final dividend, which is set for the financial period spanning 2025-26.This event provides a key transactional update regarding the dividend declaration and payment schedule for investors.STEELCITY Stock Price Movement Shares of Steel City Securities Limited are edging higher to ₹76.35 as of 12:26 PM today, gaining 1.21% in live trading. The stock maintains momentum amid steady buying...

Utsav Promoters Acquires Shares in Tai Industries Limited Utsav Promoters Private Limited has acquired a stake in Tai Industries Limited (TIL), marking the successful acquisition of shares by the promoter entity. This transaction involves Utsav Promoters and its associates, noting specific details regarding the increase in voting capital for the target company.The acquisition was completed on June 11, 2026. Through this open market purchase, Utsav Promoters acquired 30 fully paid-up equity shares of Tai Industries Limited. This acquisition represents 0.0005% of the total paid up equity and voting share capital of the target company.Before the transaction, Utsav Promoters held 1,73,000 shares, representing 2.8833% of the total...

Mayur Leather Products Ltd Sells 6,00,000 Shares of Target Company in Share Disposal Transaction A transaction involving Mayur Leather Products Limited saw the sale of 6,00,000 equity shares in the target company. The details reflect a significant shift in ownership structure for one of the associated shareholders.The acquisition and subsequent disposition of these shares occurred on June 12, 2026. This transaction affected the shareholding profile concerning Mayur Leather Products Limited.Before the sale, the holding stood at 6,86,100 shares, representing 14.19% of the total diluted share capital. Following the acquisition and sale of the shares, the holding was reduced to 8,61,000 shares, equating to 1.78%.The transaction...

Promoter's Acquisition Boosts Holding in Riba Textiles Ltd: Babita Garg Purchases Shares Babita Garg has increased her stake in Riba Textiles Limited through an open market acquisition of shares, bringing her holding up to 4.71%. The acquisition activity occurred on June 12, 2026.The purchase represents a significant addition to the existing holdings of Ms. Garg. Prior to the transaction, she held 4,51,454 equity shares, which equated to a 4.67% holding in Riba Textiles Limited. Following the acquisition, her total shareholding rose to 4,55,427 shares.Ms. Garg is identified as belonging to the Promoter group of the target company. The purchase was conducted through the open market.The financial details surrounding the acquisition...

Vedanta’s Demerger Unlocks Massive Potential: Agarwal Targets $100 Billion Valuation for Every Entity Vedanta Chairman Anil Agarwal revealed an extraordinarily bullish vision for the company's newly listed entities following the completion of the ambitious demerger. He asserted that every one of the five standalone businesses could ultimately achieve a valuation of $100 billion. This aggressive outlook is being fueled by the expectation of India entering a long-term commodities growth cycle, supported by rising demand and prevailing supply constraints.Speaking to CNBC-TV18, Agarwal stressed that the corporate restructuring benefits investors by allowing them to appreciate the distinct value of each business independently. He...

H S India Ltd Announces Resignation of Senior Management Personnel Shiladitya Mukherjee H S India Ltd has confirmed that Mr. Shiladitya Mukherjee, who held the position of Associate Vice President and served as Senior Management Personnel at the company, resigned effective June 15, 2026.The resignation was tendered by Mr. Mukherjee due to various assignments in the Hospitality Business, stating a desire to reduce his commitments. He confirmed that there were no other material reasons for stepping down from the role.The details regarding the change in senior management personnel are summarized below:ParticularsDetailsPersonnel MemberMr. Shiladitya MukherjeeDesignationAssociate Vice President (Senior Management Personnel)...

Belrise Industries Designates Key Managerial Personnel to Determine Material Events Belrise Industries Limited has specified the Key Managerial Personnel (KMP) authorized to assess the materiality of corporate events and provide disclosures pertaining to these matters. The company ensures proper identification and communication of significant information through these designated officers.The KMPs involved in determining event materiality and fulfilling disclosure requirements include:Sr. No.NameDesignation1.Mr. Rahul GanuChief Financial Officer2.Mr. Siddhesh MandkeCompany Secretary and Compliance OfficerBELRISE Stock Price Movement As of 12:19 PM, Belrise Industries Limited surges higher in live trading, holding at...

Meesho Shares Slip 1% After Rs 202 Crore Kirana Club Acquisition Amid Investor Caution Shares of Meesho traded lower in afternoon trade on Monday after the company announced the acquisition of Kirana Club, a community-led B2B commerce platform focused on kirana retailers. The stock was down 1.09% at ₹165.10 on the NSE following the announcement.Strategic Rationale Behind the Acquisition The acquisition, completed at an approximate transaction value of ₹202 crore, aims to significantly expand Meesho's presence within India's vast kirana ecosystem. It is designed to strengthen the company's reach across grocery and B2B commerce markets.Kirana Club, established in 2020, operates a mobile-first platform that empowers kirana store...

Gulf Oil Launches 'Dream Beyond. Do Beyond' Campaign to Reinforce Commitment to Customer Success Gulf Oil Lubricants India Limited (GOLIL) has announced the launch of its new B2B brand campaign, 'Dream Beyond. Do Beyond'. The initiative is designed to strengthen relationships with stakeholders across the industrial, infrastructure, and Original Equipment Manufacturer (OEM) segments within Gulf's business portfolio.The campaign celebrates the commitment and partnerships that underpin Gulf's approach, highlighting how successful collaborations act as powerful drivers for growth in India's manufacturing and infrastructure sectors. It reinforces the company’s philosophy of consistently going beyond expectations, offering support to help...

United Drilling Tools Ltd Secures Export Order from Trident East Limited in Russia United Drilling Tools Ltd has secured a commercial export order for its specialized equipment, marking an international business win. The contract was awarded by M/s Trident East Limited of Russia for the supply of 'Puma Connector,' a product used within the Oil and Gas Industry.The agreement details include various significant terms regarding the scope and value of the initial transaction. This order has been categorized as a Trial Order and is directed toward an international entity.Key details concerning the commercial contract are summarized below:ParticularsDetailsEntity Awarding OrderTrident East Limited, RussiaNature of...

Competition Commission Closes Probe Into Developer Dominance: AIPL Cleared as Allegations Over Gurugram Rental Suppression Fail The Competition Commission of India (CCI) has closed a high-profile inquiry into allegations of anti-competitive behavior by Advance India Projects Limited (AIPL). The Information, filed by Jaya Pandey & Prakash C Pandey against the developer regarding commercial units in Gurugram, was directed to be closed forthwith under Section 26(2) of the Act.The CCI ruled that there was no prima facie case of contravention of Sections 3 or 4 of the Competition Act, 2002, rejecting interim relief sought by the buyers regarding possession and timely disbursement of dues.Allegations of Unfair Practices in Commercial Real...