Markets

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...

Popular Vehicles and Services Limited Changes Website Domain to popularvehicles.in Popular Vehicles and Services Limited has announced a change in its corporate website domain, ensuring continued availability of crucial information for shareholders and stakeholders. The company has migrated its online presence from 'www.popularmaruti.com' to the new domain, 'www.popularvehicles.in'.The transition is intended to maintain the accessibility of all disclosures and regulatory information required by the company. All the information that must be maintained by Popular Vehicles and Services Limited continues to be duly available on the newly designated website.For the convenience of shareholders and other stakeholders, a notification has...

Jeena Sikho Lifecare Ltd. Announces Plan for New Day Care Clinic in Ayodhya Jeena Sikho Lifecare Limited has announced plans for a strategic expansion of its healthcare services, including the establishment of a new Day Care Clinic in Ayodhya, Uttar Pradesh. This initiative is set to enhance the company's network and aim to deliver quality Panchakarma services to a broader populace.The proposed clinic will be situated at 5/13/62 Khwashpura, near Punjab National Bank on Ram path road in Ayodhya (U.P.), and it is estimated that the facility will commence operations by August 2026. The new center is allocated an approximate area of 2300 sq. ft.The expansion reflects Jeena Sikho Lifecare Limited's ongoing efforts to strategically grow...

Narmada Agrobase Ltd Board Meeting Scheduled To Discuss Rights Issue Variation and Auditor Appointments Narmada Agrobase Ltd has scheduled a meeting of its Board of Directors to consider several key operational and financial matters, including the variation of objects related to a recent rights issue and the appointment of auditors.The Board of Directors meeting is set to take place on Tuesday, June 16, 2026, at 03:00 pm (IST). The meeting will be held at the company's corporate office located in Ahmedabad, Gujarat.The agenda for the meeting includes reviewing and approving critical items related to the company's future operations and governance. These agenda items cover updates on share capital utilization, financial reporting...

Frog Innovations Limited Approves Purchase of Land and Building for Expansion Frog Innovations Limited has approved the acquisition of land along with a constructed building in Noida, Uttar Pradesh, to support its business expansion plans. The decision was taken by the company's Board of Directors during a meeting held on June 11, 2026.The property being acquired is located at C-22, Sector 80, Noida, UP 201305. The asset includes approximately 4000 square meters of leasehold land and the existing building structure.The total consideration for this acquisition is Rs. 34.51 crores, excluding incidental expenses such as registration charges. This transaction will be funded through a combination of internal accruals and debt funding...

Capital Group Plunges Exposure by Two-Thirds as Global Funds Trim India Stakes Amid Sector Focus Shift Capital Group, the world's largest active fund manager with $3 trillion in assets, has significantly reduced its holdings in Indian equities over the past two years, according to data analyzed by Moneycontrol. This dramatic shift in portfolio strategy highlights a wider trend among major global investors.As of March 2024, Capital Group held Indian shares worth ₹92,857 crore. This figure represents a substantial decrease compared to its holdings just two years prior. Furthermore, the fund's investment size shrank by 28% in FY26 alone, dropping from ₹41,056 crore.The reduction in exposure has caused Capital Group to fall down the...

SpaceX IPO Set to Rock Markets: $1.75 Trillion Valuation and Critical Answers on Listing Details Elon Musk's rocket and satellite powerhouse, SpaceX, is rapidly approaching one of the most anticipated financial events in history. The company is preparing for a monumental listing that aims to raise substantial capital while affirming its status as a global technology behemoth. This IPO promises to be a major benchmark for tech valuations worldwide.Listing Details and Massive Valuation SpaceX shares are slated to begin trading on the Nasdaq on June 12, 2026, under the ticker symbol SPCX. The company is expected to complete its investor roadshow this week, with the formal pricing scheduled for June 11. This highly anticipated listing...

NLC India Ltd Signs MoU with CSIR-CECRI for Critical Mineral Beneficiation Technologies NLC India Limited (NLCIL) has signed a Memorandum of Understanding (MoU) with the CSIR-Central Electrochemical Research Institute (CSIR-CECRI), Karaikudi. The agreement, formalized on June 10, 2026, at Neyveli, aims to foster collaboration in critical and strategic minerals beneficiation and extraction technologies, significantly advancing the objectives of the Government of India's National Critical Mineral Mission.The MoU was signed by Shri I.S. Jasper Rose, Executive Director (Mines & Land), NLCIL, and Dr. K. Ramesha, Director of CSIR-CECRI. Present during the signing were Prasanna Kumar Motupalli, Chairman and Managing Director, NLCIL...