Markets

Tax Department Orders Recovery of Erroneously Refunded Amount from Orchid Pharma Ltd Orchid Pharma Limited has received an Order from the Additional Commissioner of Central Tax regarding the recovery of a previously refunded amount. The order mandates the recovery of Rs. 1,67,07,937/-, along with applicable interest, under Section 11A of the Central Excise Act, 1944.The Authority issued the Order on June 09, 2026, stating that the amount demanded should be recovered as it had been erroneously refunded by the then Assistant Commissioner of Central Excise, Poonamalle Division.Details pertaining to this recovery action include:ParticularsDetailsName of AuthorityAdditional Commissioner of Central Tax - Office of the Commissioner...

Advanced Enzyme Technologies Ltd Announces Cessation of Independent Director After Second Consecutive Term Advanced Enzyme Technologies Ltd has announced that Ms. Rajshree Patel, an Independent Director, will cease to be a director of the company upon completion of her second consecutive term. This change is effective as of June 11, 2026.Ms. Patel’s tenure concludes after fulfilling the requirements of two consecutive terms in her capacity as an Independent Director of Advanced Enzyme Technologies Ltd.The specifics regarding Ms. Patel's departure are detailed below:DetailInformationDirectorMs. Rajshree Patel (DIN - 08761022)Effective Cessation DateJune 11, 2026Reason for ChangeCompletion of the second term as an...

eClerx Services Limited Schedules One-to-One Investor Meeting with Motilal Oswal MF eClerx Services Limited has scheduled a one-to-one investor meeting with Motilal Oswal MF to discuss industry and company specific developments. The meeting is set for June 11, 2026, in Mumbai.The engagement between the company and the Mutual Fund focuses on developments that are already within the public domain.A detailed schedule of the investor interaction has been provided below:DateInteraction withDiscussionVenueTypeJune 11, 2026Motilal Oswal MFIndustry/ Company specific developments already in public domainMumbaiOne to OneThe company noted that the schedule is subject to changes due to exigencies on the part of either the Investors...

Shree Shyam Tea Private Limited Acquires 19.85% Stake in Archidply Industries Ltd Through Inter-Se Transfer Shree Shyam Tea Private Limited has acquired a significant stake in Archidply Industries Limited through an inter-se transfer of shares, related to a Scheme of Amalgamation involving promoter group companies.The acquisition involves Shree Shyam Tea Private Limited acquiring 3,943,509 equity shares of Archidply Industries Limited, representing 19.85% of the company's total share capital. The transaction details highlight that the shares were acquired from Vanraj Suppliers Private Limited.This transaction falls under the rationale of Amalgamation and relates to an inter-se transfer between promoter group companies.Key details...

Sattrix Information Security Announces Rs 30.45 Million in Renewal Work Orders for April and May 2026 Sattrix Information Security Limited (SATTRIX), a provider of customer-centric cybersecurity solutions, has announced the receipt of renewal orders totaling Rs 30.45 Millions (excluding taxes) during April and May 2026. This repeat business underscores the continued confidence of its clients in the company's service standards, products, and execution capabilities.The Company secured these renewals from a range of prominent organizations across various sectors, including banking companies, financial institutions, leading business process outsourcing companies, and technology consulting firms.Sattrix maintains a diversified customer...

Shree Shyam Tea Private Limited Acquires 17.71% Stake in Archidply Decor Ltd through Inter-se Transfer Shree Shyam Tea Private Limited has acquired a substantial stake in Archidply Decor Limited. The acquisition involves the purchase of 985,877 equity shares, representing 17.71% of the total share capital of Archidply Decor Limited.The transaction was executed through an inter-se transfer of shares among promoter group companies. This deal is related to a scheme of amalgamation.In relation to the acquisition details, the seller in the transaction was identified as Vanraj Suppliers Private Limited. The sale of these 985,877 shares by Vanraj Suppliers Private Limited resulted in Shree Shyam Tea Private Limited achieving the acquired...

T T Limited Reschedules 47th Annual General Meeting to August 6, 2026 T T Limited has approved the rescheduling of its 47th Annual General Meeting (AGM). The company announced that the AGM will now be held on Thursday, August 6, 2026.The Board of Directors made the decision regarding the rescheduling following a meeting held on June 11, 2026. This change alters the previously approved timeline for the General Meeting.Earlier, the Board of Directors had convened the 47th AGM for Wednesday, September 16, 2026. The original plan involved conducting the meeting via Video Conferencing (VC) or Other Audio-Visual Means (OAVM), with the Registered Office of the Company designated as the venue.Considering administrative and business...

Mishra Dhatu Nigam Reports Record FY Performance, Recommends Final Dividend of ₹1.25 per Share Mishra Dhatu Nigam Limited (MIDHANI) announced robust financial results for the financial year ending March 31, 2026, reporting record-breaking turnover and profit growth across both standalone and consolidated segments. The company has recommended a final dividend of ₹1.25 per equity share for shareholders to approve at the ensuing Annual General Meeting.The performance highlights demonstrate consistent operational excellence in high-value defence and aerospace materials manufacturing. During the fourth quarter of FY 2025-26, turnover reached ₹552.75 Cr, marking a growth of 34.63% against the corresponding quarter of the previous year (FY...

Nifty Battles Volatility as Pharma and Private Banks Surge Despite Global Headwinds Indian benchmark indices ended in a highly volatile session, with mixed performance across sectors defying broader market weakness. The Nifty 50 concluded at 23,161.60, down 0.23%, while the Sensex finished at 73,832.55, marking a decline of 0.20%. Despite periods of sharp intraday recovery, selling pressure dominated the second half of the session.Market Dynamics and Sectoral Divergence The market opened on a subdued note amid concerns fueled by weak global cues. Investor sentiment was weighed down by reports of a sharp rise in US inflation and renewed escalation in the Middle East conflict. The Nifty briefly recovered after dipping below 23,100 but...

Tax Demand Against Subsidiary Quashed for Devyani International Ltd's Sky Gate Hospitality Sky Gate Hospitality Private Limited, a wholly-owned subsidiary of Devyani International Ltd., has successfully had a tax demand order quashed by the Income Tax Department. The resolution follows the submission and acceptance of rectification applications filed by Sky Gate concerning an earlier demand notice.The Demand Order originated from the Income Tax Department under section 143(3) of the Income-tax Act, 1961, pertaining to the Assessment Year 2024-25. The tax demand amounted to INR 59.52 million and was related to an alleged excess premium on the issuance of shares by Sky Gate during the financial year 2023-24.In continuation of the...

Promoter Group Acquirer Increases Stake in Gamco Ltd Through Open Market Purchase Mrs. Raj Goenka, belonging to the promoter group of Gamco Ltd, has increased her stake in the company through an open market transaction conducted between June 9, 2026, and June 10, 2026. The acquisition resulted in a total holding of 1,258,534 equity shares, representing 2.33% of the issued and paid-up equity share capital of Gamco Ltd.The transaction involved the purchase of 31,491 equity shares, each having a face value of Rs. 2/-. This acquisition through the open market increased the acquirer's stake from an initial holding of 1,227,043 equity shares (or 2.27% of the capital) to the current total of 1,258,534 equity shares following the transaction...

Avonmore Capital & Management Services Poised for Growth Amid India's Ethanol Policy Boost Avonmore Capital & Management Services Limited (ACMS), through its associate company Premier Green Innovations Private Limited (PGIPL), is strategically positioned to capitalize on major shifts in India's energy landscape following the Government of India's recent policy announcements regarding biofuel blending.The government’s decision to exempt petrol blended with E22-E30 ethanol from excise duty, alongside the introduction of E85 fuel for flex-fuel vehicles, signifies a substantial acceleration of the National Biofuel Programme. These transformative measures are set to significantly boost ethanol consumption across the country.PGIPL...

Pine Labs Launches P3P: Enabling AI Agents to Conduct UPI Payments in India Bengaluru, June 11, 2026 – Pine Labs Limited, a leading merchant commerce platform, has announced the launch of the Pine Labs Payment Protocol (P3P). This protocol enables an Artificial Intelligence agent to complete a Unified Payments Interface (UPI) transaction without requiring human authentication, marking it as India’s first agentic payment solution built on UPI.Pine Labs is the first payment company in India to bridge the gap between AI agency and consumer payments. The service is live in production immediately.Addressing the Friction Point While UPI processes over 23 billion transactions monthly—the most widely adopted real-time payment network...

Fractal Launches Cogentiq E-Commerce Engine to Automate Profit Actions Across Digital Marketplaces NEW YORK/ MUMBAI - June 11, 2026 – Fractal Analytics Limited, a global enterprise AI company serving Fortune 500 organizations, today announced the launch of Cogentiq e-commerce. This new offering is an AI-native Always on E-Commerce Profit Engine designed to help consumer products companies maintain competitiveness across major e-commerce platforms like Amazon.Cogentiq e-commerce monitors and acts against crucial profit signals—including stock levels, pricing, keywords, content, and media spend allocation—to ensure that products are readily available, easily discoverable, and positioned for purchase conversion. The engine operates with...

Bagmane Prime Office REIT Management to Attend Avendus REITs and InvITs Conclave 2026 Members of the Senior Management team from Bagmane Realty Investment Manager Private Limited, which manages Bagmane Prime Office REIT, are set to participate in the Avendus REITs and InvITs Conclave 2026.The company officials will be attending the conclave on Tuesday, June 16, 2026. During their attendance, team members are scheduled to hold Group Meetings and Oneon-One Meetings as deemed appropriate.Bagmane Prime Office REIT's investment manager confirmed the participation of its senior management in the event. The participation is subject to change based on the availability of the attendees or the company.BAGMANE Stock Price Movement Bagmane...

MTNL Fails to Fund Interest for Bond Series VI, Citing Insufficient Funds Mahanagar Telephone Nigam Limited (MTNL) has reported a funding shortfall regarding the semi-annual interest due on its 6.85% MTNL Bond Series VI (INE153A08097).The payment of this semi-annual interest was due on June 21, 2026. As per the Structured Payment Mechanism established by the Tri-Partite Agreement (TPA), which involves MTNL, the Department of Telecommunications (DoT), the Ministry of Communications, Government of India, and SBICAP Trustee Company Limited, MTNL was required to fund the interest into an ESCROW Account maintained in Bank of India ten days prior to the due date.The bonds issued by MTNL are structured as Sovereign Guaranteed Bonds under...

Monarch Surveyors Secures ₹16.47 Crore Mandate for Maharashtra Green Roads Connectivity Program Monarch Surveyors and Engineering Consultants Limited, a civil infrastructure consulting firm, has secured a significant consultancy mandate related to the Maharashtra Green Roads Connectivity for Inclusive Growth Program. The company received the Letter of Acceptance (LoA) for providing ADB/PISC Consulting Services as the Program Implementation Support Consultant (PISC).The project, which is being awarded by the Maharashtra Rural Roads Development Association (MRRDA), involves providing implementation support services aimed at developing sustainable and inclusive rural road connectivity infrastructure across Maharashtra. This initiative is...

Promoter Acquires Shares in Vibhor Steel Tubes Ltd through Open Market Transaction Vibhor Steel Tubes Limited, formerly known as Vibhor Steel Tubes Private Limited, saw its promoter and director acquire a small stake in the company via an open market transaction. Mr. Vijay Kumar Kaushik completed the acquisition on June 10, 2026, purchasing 5,446 equity shares of the firm.Mr. Vijay Kumar Kaushik, who holds the position of Director and Promoter at Vibhor Steel Tubes Limited, acquired the shares through an open market transaction. The purchase represented a 0.03% stake in the company’s total paid up capital. At the time of the acquisition, the individual held 41,58,654 shares carrying voting rights. Following the transaction, his...

Aegis Investment Fund PCC Acquires Stakes in Modis Navnirman Limited through Open Market Purchase Aegis Investment Fund PCC has increased its stake in Modis Navnirman Limited after purchasing shares through the open market. The acquisition was completed on June 3, 2026.The purchase saw Aegis Investment Fund PCC acquire 457,142 shares of the company. This transaction raised the fund's holding from an initial stake to a new post-acquisition level. Modis Navnirman Limited is listed on NSE and BSE.Prior to the acquisition, the Acquirer held 1,192,348 shares, representing 6.09% of the total share or voting capital. Following the open market purchase, Aegis Investment Fund PCC's holding stood at 1,649,490 shares, translating to an 8.42%...

Audit Qualification Highlights Material Uncertainty Over Going Concern for Hindustan Motors Ltd Hindustan Motors Limited has released its financial results and associated audit reports for the financial year ended March 31, 2026, reporting a qualified opinion from auditors. The qualification centers on the material uncertainty regarding the company's ability to continue as a going concern due to disputes over land tenure.The audit of the financial statements reveals that the company continues to operate on a 'going concern' basis despite significant operational challenges. This decision is supported by management, who have focused efforts on cost reduction and debt elimination.Key Financial Metrics (Financial Year Ended March 31...