Markets

India Cements Acquires 12.48% Stake in FPEL for Green Energy Supply The India Cements Limited has entered into an agreement to acquire a minority stake in FPEL SERVICES PRIVATE LIMITED, a company focused on renewable energy generation and transmission. This strategic acquisition is intended by the cement manufacturer to meet its green energy requirements, optimize energy costs, and ensure compliance with regulatory obligations related to captive power consumption under electricity laws.The target entity, FPEL SERVICES PRIVATE LIMITED, operates within the industry of generation and transmission of renewable energy (wind power). The acquisition involves a cash consideration representing an equity investment of up to Rs. 10,78,00,000/-...

Massive Stake Sale Looms: ADIA-Backed Trust Prepares to Offload 2.3% in Lenskart Amid Strong Institutional Demand A significant secondary stake sale is anticipated for Lenskart, as the Platinum Jasmine A 2018 Trust, which is solely backed by the Abu Dhabi Investment Authority (ADIA), prepares to offload a portion of its holdings. The transaction, expected to take place through a block deal on June 11, involves the potential divestment of up to 4 crore shares, representing approximately 2.3% of the company's outstanding equity.The sale carries the possibility of raising as much as ₹1,944 crore, based on the floor price set at ₹486 per share. This floor price reflects a marginal discount of about 2.8% compared to Lenskart’s closing...

SEBI Mandates Banks to Remit Recovery Funds Against Defaulting Investor in BSE Matter The Securities and Exchange Board of India (SEBI) has issued a formal Remittance Advice, directing all associated banks and mutual funds nationwide regarding a high-profile recovery case. The directive concerns Sitaram Jayant (PAN: AXUPJ6002E) in relation to an ISO matter at the BSE.This action falls under the exercise of powers conferred by Section 28A of the SEBI Act, 1992, as amended by the Securities Laws (Amendment) Act, 2014. The advisory solidifies the ongoing recovery process initiated against the defaulter.Mandate to Financial Institutions for Fund Remittance The Remittance Advice mandates that financial institutions holding accounts...

SAPLING Dialogue Demands Concrete Action Plan to Boost South Asian Food Processing and Employment High-Level Dialogue Concludes in Ahmedabad on Future of Regional Food Economy The two-day regional summit, the "SAPLING (South Asian Policy Leadership for Improved Nutrition and Growth) Dialogue 2026," concluded successfully on June 10, 2026, in Ahmedabad, Gujarat. This high-level policy dialogue was jointly organized by the Ministry of Food Processing Industries (MoFPI), Government of India, and the World Bank Group.The event focused on the theme "Unlocking Value: Advancing Food Processing for Employment Generation and Sustainable Growth in South Asia." Approximately 200 participants attended the deliberations, comprising policymakers...

UltraTech Cement and India Cements Acquire Stakes in Renewable Energy Firm FPEL SERVICES LIMITED UltraTech Cement Limited and its subsidiary, The India Cements Limited, have entered into agreements to acquire significant equity stakes in FPEL SERVICES PRIVATE LIMITED, a company focused on generation and transmission of renewable energy. These acquisitions are aimed at meeting the companies' green energy needs, optimizing energy costs, and ensuring compliance with regulatory requirements for captive power consumption under electricity laws.UltraTech Cement Limited has acquired 13.99% of equity in FPEL SERVICES PRIVATE LIMITED through an Energy Supply Agreement and Share Subscription and Shareholders Agreement. The investment by...

Andhra Pradesh Delegation Accelerates National Integration By Deep Diving into Maharashtra's Governance and Eco-Innovation The Ministry of Education, under the Ek Bharat Shreshtha Bharat programme, has successfully facilitated Yuva Sangam Phase VI. This national initiative is dedicated to promoting cultural exchange, experiential learning, and strengthening integration among youth from various parts of the country. The program aims to connect students with practical aspects of development and state governance.High-Level Insights on Leadership and Nation Building The five-day programme saw a delegation from Andhra Pradesh, led by the Indian Institute of Technology (IIT) Tirupati, hosted at IISER Pune. A key highlight was the meeting...

Avi Ansh Textile Limited Launches New E-Commerce Platform Targeting Consumer Services Avi Ansh Textile Limited has announced the successful launch of its new e-commerce platform, dedicated to providing direct-to-consumer services. The company unveiled the online presence on June 10, 2026.The newly launched digital platform, accessible at www.tenbytwoo.com, is designed to serve consumer needs. This move establishes a focused channel for the company to engage with consumers through its e-commerce operations.AVIANSH Stock Price Movement Avi Ansh Textile Limited shares today gained 0.49% to settle at ₹112, driven by a daily rise of ₹0.55. The stock closed amidst trading volume totaling 3,000 shares, as the equity finished strongly...

Z47 Targets Massive $200 Million Stake Sale in IPO-Bound OfBusiness, Signaling Valuation Benchmark Venture capital firm Z47 (formerly Matrix Partners India) has initiated a significant secondary sale of its stake in OfBusiness, a rapidly growing online business to business (B2B) commerce platform. This move comes as the B2B giant prepares for an anticipated Initial Public Offering (IPO).Industry sources informed Moneycontrol that Z47 is actively looking to unlock value through this pre-IPO transaction. The firm reportedly aims to raise around $200 million from the sale of its shares in OfBusiness.The proposed transaction is being advised by investment bank Kotak Mahindra Capital. While the exact quantum of the stake and the target...

US Stocks Tumble as Geopolitical Shock Overshadows CPI Relief Amid Rising Energy Costs A relatively tame inflation report provided some relief to Wall Street investors, but the market struggled to lift equities amid escalating geopolitical tensions. These heightened tensions are keeping energy costs elevated and continue to threaten further price pressures across sectors.In a volatile trading session, oil saw a climb after President Donald Trump stated that Iran would "pay the price" for delaying negotiations toward an interim peace deal. This follows renewed overnight attacks which have put additional strain on the already fragile truce in the region.Consumer Price Index Details Offer Moderating Signal The consumer price index...

Sanginita Chemicals Sets Allotment Date After Receiving AGEL Shares for Acquisition Sanginita Chemicals Limited has confirmed the deemed date of allotment for a significant preferential issuance in connection with the acquisition of 100% stake in Agastya Green Energy Limited (AGEL). The company received the transfer of 9,500,000 equity shares of AGEL from B N G Investment LLC on June 10, 2026.The allotment pertains to Sanginita Chemicals' own fully paid-up equity shares issued to B N G Investment LLC, which is a shareholder of Agastya Green Energy Limited (AGEL). This transaction is part of a Share Swap and Share Purchase Agreement dated March 20, 2026, aimed at completing the acquisition of the entire stake in AGEL.Details...

Rajesh Exports Pledges Full Cooperation as SEBI Interrogates ₹15.15 Lakh Crore Revenue Inflation Allegations Bengaluru-based gold jewellery firm, Rajesh Exports Ltd (REL), has stated it will fully cooperate with the fresh forensic audit ordered by market watchdog SEBI. The company confirmed it will not challenge the interim order issued by the regulator regarding suspected revenue inflation over a five-year period. REL maintains that it has been completely forthcoming throughout the investigation process and denies any obstruction of the ongoing audit.##Allegations of Revenue Inflation Surface Against Rajesh ExportsSEBI has initiated scrutiny into REL, alleging that the company inflated its consolidated revenues by up to ₹15.15 lakh...

India's Skilling Ecosystem Explodes: MSDE Drives Massive Transformation, Reaching Global Talent Status The Ministry of Skill Development and Entrepreneurship (MSDE) today marked a monumental twelve-year milestone, celebrating the evolution of one of the world's most extensive skilling ecosystems. Guided by reforms integrating vocational education, industry partnerships, and digital public infrastructure, India is cementing its position as a powerhouse for talent development in pursuit of Viksit Bharat 2047.The ministry’s sustained focus has ensured that skills are viewed not just as a training metric, but as a core pillar of opportunity and economic resilience across the nation. Through deep collaborations with academia, industry...

Power Grid Corporation of India approves SCADA upgrade and secures Japanese Yen loan facility The Board of Directors of Power Grid Corporation of India Limited has approved several key strategic initiatives, including a significant systems upgradation and the successful arrangement of an unsecured term loan facility. The Board also formalized two critical leadership appointments within the organization.The decisions covered in the meeting include financial infrastructure enhancements and executive manpower changes. These approvals are aimed at strengthening the company's operational capability and financial standing.Major Financial Approvals and Facilities The Board meeting considered and approved major investments concerning...

Oracle Financial Services Software Limited Announces Annual General Meeting Details and E-Voting Schedule The Board of Directors of Oracle Financial Services Software Limited has approved key details regarding its forthcoming Thirty Seventh Annual General Meeting (AGM). These decisions cover the AGM date, book closure process, and remote e-voting timeline for members.The AGM is scheduled to be held on Thursday, July 23, 2026, at 3:00 p.m. (IST). Members will participate via Video Conferencing (VC) or other Audio Visual Means (OAVM).To ensure proper participation in the meeting, the cut-off date for members is set as Thursday, July 16, 2026. Members listed in the Register of Members or the list of Beneficial Owners at the close of...

RBI Seeks Stakeholder Feedback on Major Consolidation of Control and Assurance Functions for All Regulated Entities Reserve Bank of India (RBI) has today launched a significant public consultation initiative concerning the governance framework across its regulated sector. The central bank has issued draft Amendment Directions inviting comments from all relevant stakeholders regarding the Harmonisation and Consolidation of Instructions on Control and Assurance Functions. This move signals RBI's commitment to standardizing regulatory oversight and improving operational consistency across diverse financial institutions in India.The exercise aims to consolidate scattered regulations into unified instructions, ensuring that critical...

Sundaram Finance Employees Exercise 213 Stock Options Under ESOP Scheme Sundaram Finance Limited has announced that options granted under its Employee Stock Option Scheme—2008 (SFESOS) have been exercised, marking a significant step regarding employee compensation mechanisms.The exercise pertains to the stock options previously granted in support of the SFESOS. The company confirmed details concerning this specific option grant, which was associated with ESOP Grant 15.The key parameters of the exercised options are detailed below:MetricDetailDate of Grant26.05.2023Exercise Date10th June 2026No. of Option Holders4No. of Options213The company confirmed that suitable steps have been taken to ensure the smooth...

Canara Bank Revises Marginal Cost of Funds Based Lending Rate Effective June 12, 2026 Canara Bank has revised its Marginal Cost of Funds Based Lending Rate (MCLR), with the changes taking effect from June 12, 2026. The updated rates cover various tenors ranging from overnight to three years.The revisions detailed in the bank's announcement show incremental adjustments across several categories.Key rate details are provided below:Sr. No.MCLR TenorExisting RateRate w.e.f. 12.06.20261Overnight MCLR7.907.952One Month MCLR7.958.003Three Month MCLR8.208.254Six Month MCLR8.558.605One Year MCLR8.758.756Two Year MCLR9.009.007Three Year MCLR9.059.05CANBK Stock Price Movement Canara Bank shares today slipped by...

C2C Advanced Systems and Kilo Solutions Announce Exclusive Alliance for Maritime Simulation in Indian Defence Sector C2C Advanced Systems Limited has established an exclusive alliance with UK-based firm Kilo Solutions Limited to provide portable maritime virtual reality simulation solutions for India's Defence and Government sectors. The Memorandum of Understanding, dated June 9, 2026, designates C2C as the sole partner for promoting and deploying Kilo’s specialized technologies across the Indian Navy, the Indian Coast Guard, and other government maritime organizations within India.The partnership is set to address critical training needs given India's rapid naval expansion. While the Indian Navy is commissioning 19 warships in...

Voltas Limited Penalized by State Tax Officer Over E-Way Bill Validity Voltas Limited has been assessed a significant tax penalty related to the expiry of an E-Way Bill during the transportation of goods. The penalty was levied by the Office of the State Tax Officer, Uttarakhand, and the company confirmed it is appealing the order.The levy was imposed on June 9, 2026. The penalty of ₹ 16,35,766/- was issued under Section 129 of the Uttarakhand Goods and Services Tax Act, 2017, along with relevant provisions of the Central Goods and Services Tax Act, 2017. The violation centers on the expiry of the E-Way Bill validity during goods transportation.The company confirmed that it is in the process of filing an appeal against this order...

Esaar India Ltd Board Approves CFO Appointment and Rights Issue Plan Esaar India Ltd, during its Board meeting held on June 10, 2026, announced significant decisions including the appointment of a new Chief Financial Officer and the approval for a planned equity rights issue. The company has also approved the formation of a dedicated committee to oversee all matters related to the proposed capital raise.The Board decided to appoint Mr. Dipesh B. Mistri as the Chief Financial Officer (CFO) and Key Managerial Personnel (KMP) of the Company, effective from June 10, 2026.Appointment of New CFO Mr. Dipesh B. Mistri was appointed following a recommendation by the Nomination and Remuneration Committee. Mr. Mistri brings over 10 years of...