Markets

RBI Imposes Severe Restrictions on Mogaveera Co-operative Bank Over Financial Concerns Reserve Bank of India Issues Directions Against Mogaveera Bank Ltd. The Reserve Bank of India (RBI) has issued stringent operational directions against the Mogaveera Co-operative Bank Ltd., Bombay. These directives restrict almost all major financial activities of the bank, effective from June 12, 2026. The RBI action was taken under Section 35 A read with Section 56 of the Banking Regulation Act, 1949.The directions state that without prior written approval from the RBI, the bank cannot grant or renew any loans and advances. Furthermore, it is prohibited from making new investments, incurring liabilities including borrowing funds, or accepting...

Sasken Technologies Appoints Mr. V. Suryanarayanan as Additional Independent Director Sasken Technologies Limited has appointed Mr. V. Suryanarayanan as an Additional Director in the Independent Category, following a recommendation by the Nomination and Remuneration Committee. The appointment is effective from June 12, 2026, and allows him to hold the position for up to five consecutive years.The Board of Directors approved the appointment, with the understanding that his tenure is subject to ratification by members at the 38th Annual General Meeting of the Company. Mr. Suryanarayanan will not be liable to retire by rotation.Mr. V. Suryanarayanan brings extensive experience to the role. He is a Chartered Accountant who has amassed...

Ambani Orgochem Approves Preference Share Redemption and Announces Dividend Payment Ambani Orgochem Limited has approved the redemption of a portion of its preference shares and announced a dividend payment on Unlisted Cumulative Non-Convertible Redeemable Preference Shares. These decisions were made by the Board of Directors during a meeting held on Friday, June 12, 2026.The Board approved two key items: 1. The payment of a dividend at the rate of 12% on Unlisted Cumulative Non-Convertible Redeemable Preference Shares on a pro-rata basis. 2. The redemption of 28,45,200 (Twenty-Eight Lakhs Forty-Five Thousand and Two Hundred) 12% Cumulative Non-Convertible Redeemable Preference Shares.The preference shares being redeemed have a face...

POWERGRID Declared Successful Bidder for Critical Transmission Project for Green Hydrogen Projects Power Grid Corporation of India Limited (POWERGRID) has been declared the successful bidder under a Tariff Based Competitive Bidding (TBCB) to undertake a major infrastructure project. The contract involves establishing an Inter-State Transmission System designed specifically for proposed Green Hydrogen and Green Ammonia projects in Kakinada area, Phase I.The project is structured on a Build, Own, Operate and Transfer (BOOT) basis. POWERGRID received the Letter of Intent (LoI) related to this successful bid on June 12, 2026.The scope of work involves setting up significant transmission infrastructure in Andhra Pradesh. The project...

Bosch Limited Receives Equity Shares via Preferential Allotment from Promoter Group Entities Bosch Limited has received equity shares through a preferential allotment from related entities, solidifying investor holdings in the company. The acquisition details concern investments made by Robert Bosch LLC and Robert Bosch Investment Nederland B.V.The transaction involved both entities acquiring 1230 equity shares each of Bosch Limited on June 10, 2026. This preferential allotment contributed to an aggregate acquisition value of Rs. 4,35,99,444.90. Both Robert Bosch LLC and Robert Bosch Investment Nederland B.V. are categorized as members of the Promoter Group.The transaction data highlights the specific investment details...

EPACK Durable Limited Tax Demand Reduced by Income Tax Department After Rectification Order EPACK Durable Limited has received a rectification order from the Deputy Commissioner of the Income Tax Department regarding an earlier assessment, resulting in a significant reduction of its tax demand. The company received the communication on June 11, 2026.The matter pertains to the Assessment Year 2023-24 (Financial Year 2022-23). Originally, a tax demand of Rs. 29.03 Crores had been raised against the company following an assessment order received on March 23, 2026.Following the filing of a rectification application by EPACK Durable Limited before the Jurisdictional Assessing Officer, the Deputy Commissioner of the Income Tax Department...

SEBI Prohibits Asset Disposal as Multiple Entities Default on Massive Recovery Certificate Dues The Securities and Exchange Board of India (SEBI) has issued a strict Prohibitory Order against a group of entities and individuals, halting all property transactions until a substantial outstanding amount is recovered. The order targets failure to adhere to the terms laid out in Recovery Certificate No. 1851 of 2018.The comprehensive prohibitory measure was released by the Recovery Officer at the Northern Regional Office, New Delhi, on June 12, 2026. This action falls under Rule 16 and 48 of the Second Schedule to the Income Tax Act, 1961, read with Section 28A of the SEBI Act, 1992.Recovery Proceedings Against Defaulters Recovery...

Sattva Engineering Wins Contract to Design and Build Sewage Treatment Plant for Thiruverkadu Municipality Sattva Engineering Construction Limited has secured a major contract with Thiruverkadu Municipality to design, engineer, build, and commission a 46 MLD capacity sewage treatment plant in Koladi. The project also includes operation and maintenance for ten years at the site.The company received the Letter of Acceptance (LOA) from Thiruverkadu Municipality on June 12, 2026, for the project detailed as 'DESIGN, ENGINEERING, BUILD AND COMMISSIONING OF 46 MLD CAPACITY SEWAGE TREATMENT PLANT AT KOLADI WITH SEQUENTIAL BATCH REACTOR (SBR) INCLUDING OPERATION AND MAINTENANCE FOR 10 YEARS AT THIRUVERKADU.'The total contract value stands at...

Cyient Limited Announces Buyback of Equity Shares Up To 64 Lakhs At INR 1,125 Per Share Cyient Limited announced a proposal to buy back up to 64,00,000 fully paid-up equity shares through a tender offer route. The company stated that the initiative is part of its strategy to return surplus cash to shareholders effectively.The maximum aggregate amount allocated for the buyback does not exceed INR 720,00,00,000 (Indian Rupees Seven Hundred Twenty Crores), with each share offered at a price of INR 1,125 (Indian Rupees One Thousand One Hundred Twenty Five only).Key details regarding the tender offer are as follows:DetailSpecificationMaximum Shares Proposed64,00,000Share Face ValueINR 5 per shareBuyback PriceINR 1,125 per...

Dr. Lal Path Labs Incorporates Wholly Owned Subsidiary in Dubai for Diagnostic Expansion Dr. Lal Path Labs Limited has successfully established a wholly owned subsidiary (WOS) in Dubai, United Arab Emirates, signaling a strategic move into international diagnostic services. The incorporation of the new entity, 'DR LAL PATHLABS FZCO,' was completed on June 12, 2026, upon receiving the Certificate of Incorporation/Licence from the Dubai Multi Commodities Centre (DMCC) authority.The establishment of this WOS is part of the company's strategy to invest in Diagnostic Services and allied activities globally. The entity has been incorporated specifically for exploring potential acquisitions, joint ventures, or tie-ups within the diagnostic...

United Heat Transfer Limited secures multi-lakh order from Ingersoll-Rand for Heat Exchanger supply United Heat Transfer Limited has received two significant purchase orders from Ingersoll-Rand (India) Limited, totaling approximately Rs. 59,94,000 (excluding tax), for the manufacturing and subsequent supply of Heat Exchangers to its domestic plant.The contract awards represent a substantial business development milestone for United Heat Transfer Limited. The company confirmed that these orders are not related party transactions, and there is no interest from any promoter or promoter group in Ingersoll-Rand (India) Limited.The two purchase orders received from Ingersoll-Rand (India) Limited detail specific delivery schedules and...

Digidrive Distributors Holds 3,08,997 Equity Shares of RPSG Ventures Limited Digidrive Distributors Limited has confirmed its equity shareholding in RPSG Ventures Limited as of March 31, 2026. The company holds a holding of 3,08,997 equity shares in the Kolkata-based entity.As per the records detailing the shareholder status, Digidrive Distributors Limited stated that there was no encumbrance placed on these shares directly or indirectly during the Financial Year ended March 31, 2026.RPSGVENT Stock Price Movement Today, RPSG Ventures Limited shares edged higher in post-market trading, settling at ₹872.40 and gaining 0.24%. The stock closed on a total traded volume of 14,275 shares.

Mahindra & Mahindra Employees' Stock Option Trust Transfers Shares upon Exercise of Options Mahindra & Mahindra Limited announced that its Employees' Stock Option Trust transferred equity shares to designated stock option grantees on June 12, 2026. The transfer was executed in relation to the exercise of stock options granted under the company's Employees' Stock Option Scheme.The MAHINDRA & MAHINDRA EMPLOYEES STOCK OPTION TRUST handled the distribution of these shares, marking a significant milestone for participants of the scheme. These shareholders include individuals such as Kartik Ramasubramanian, Uday Vartak, Kashinath Vaishnav, and Atul Karkhanis among others.The stock option exercise resulting in the transfer encompassed 34...

RBI Rolls Out Massive Treasury Bill Auction: Know How to Bid in the 91, 182, and 364-Day Tranches The Reserve Bank of India (RBI) has announced a major auction targeting short-term government securities. The auction includes 91-Day, 182-Day, and 364-Day Treasury Bills (T-Bills), offering participants an opportunity to invest in low-risk sovereign debt. This scheduled sale aims to manage liquidity and ensure smooth functioning of the money market.Auction Overview and Notified Amounts The RBI has designated a total notional amount of ₹24,000 crore for the upcoming T-Bill auction. The offering spans three distinct tenures: 91-Day, 182-Day, and 364-Day bills.The 91-Day Treasury Bills carry a notified amount of ₹12,000 crore. Similarly...

IRM Energy Limited Appoints Ashish Maheshwari as Director-Finance IRM Energy Limited has appointed Mr. Ashish Maheshwari as Director of Finance (Non-Board Member), designated as Director-Finance. The appointment was approved by the board of Directors via a circular resolution passed on June 12, 2026.Mr. Maheshwari has been appointed as part of the company's Senior Management Personnel and holds this position with effect from June 12, 2026.Appointment Details The details of the appointment are as follows:ParticularsDetailsName of SMPMr. Ashish MaheshwariReason for changeAppointment as Director of Finance (Non-Board Member) designated as Director-Finance, categorized as Senior Management Personnel of the CompanyDate of...

India Shelter Finance Corporation Limited Recommends Rs. 10 Dividend Per Equity Share for FY2025-26 The Board of Directors of India Shelter Finance Corporation Limited has recommended a final dividend of Rs. 10/- per equity share for the Financial Year 2025-26.The recommendation was made during a meeting of the company held on May 02, 2026. The proposed dividend is subject to approval by shareholders at the upcoming 28th Annual General Meeting (AGM), which is scheduled for July 16, 2026.To determine the entitlement of eligible equity shareholders to receive this dividend, the company has set June 19, 2026 as the record date.If approved by the shareholders at the AGM, the dividend will be paid or dispatched within 30 days from the...

IIFL Fintech Completes Acquisition of Xtracap, Establishes Step-Down Subsidiary Status IIFL Finance Limited’s wholly-owned subsidiary, IIFL Fintech Private Limited, has finalized the acquisition of Xtracap Fintech India Private Limited (Xtracap). This transaction solidifies the fintech vertical of the finance company.Following the completed acquisition, IIFL Fintech holds 89.69% of the paid-up share capital of Xtracap. As a result of this stake and control, Xtracap is now classified as a step-down subsidiary of IIFL Finance Limited.The move by IIFL Fintech underscores its expanding footprint in the fintech sector following the successful integration of Xtracap into its corporate structure.IIFL Stock Price Movement Today, IIFL...

Arham Technologies Limited appoints Bigshare Services as new Registrar and Share Transfer Agent Arham Technologies Limited has approved the appointment of M/s Bigshare Services Private Limited as its new Registrar and Share Transfer Agent (RTA). This decision was made following a resolution passed during the company's Board meeting held on June 12, 2026.The move marks a change in RTA service provider for Arham Technologies Limited. M/s Bigshare Services Private Limited is set to take over the role of Registrar and Share Transfer Agent (RTA), replacing M/s Cameo Corporate Services Limited. The appointment is scheduled to be effective from the date corresponding to the change of electronic connectivity with NSDL and CDSL.The...

Ashoka Buildcon's Stake in APTPL Diluted Following Preferential Allotment Ashoka Buildcon Limited has seen its stake in its subsidiary, Ashoka Purestudy Technologies Private Limited (APTPL), diluted following the completion of a preferential allotment by APTPL. The transaction resulted in APTPL changing status from a subsidiary to an associate company for Ashoka Buildcon, effective June 12, 2026.The preferential allotment was executed by APTPL and involved the issuance of 29,879 equity shares, each with a face value of Rs. 10/- and fully paid up, to a new independent third-party investor. The allotment was undertaken by APTPL to secure growth capital for its business operations, expansion plans, and general corporate purposes.Prior...

R Systems International Limited Assigned ESG Rating of 60 by CFC Finlease Private Limited R Systems International Limited has received an ESG rating from CFC Finlease Private Limited, a SEBI-registered ESG Rating Provider. The assessment, communicated on June 12, 2026, assigned an ESG rating of 60 to the company.The assignment was made by the ESG provider based on information available in the public domain. R Systems International Limited clarified that it neither engaged nor appointed CFC Finlease Private Limited for conducting the aforementioned ESG assessment.CFC Finlease Private Limited independently assigned the rating after reviewing publicly available information, without any direct participation or engagement from R Systems...