Markets

NALCO Shares Climb as Company Joins Forces to Build 1080 MW Captive Power Plant in Odisha National Aluminium Company (NALCO) is set to be a key focus for investors following the signing of a significant Joint Venture-cum-Shareholders' Agreement (JVA). This agreement sees NALCO partnering with NLC India to develop a large-scale 1,080 MW thermal captive power plant in Angul, Odisha. The collaboration highlights a strategic move towards securing and expanding energy supply infrastructure.Strategic Partnership Unlocks Mega Power Project Under the terms of the JVA, both NALCO and NLC India will hold an equal 50 percent stake in the newly formed joint venture company. This partnership is designed to ensure robust power generation capability...

Ignite Rally: SBI Funds Management Fixes Crucial IPO Price Band Amid Massive Asset Holdings SBI Funds Management Ltd has officially finalized the price band for its Initial Public Offering (IPO), signaling a major entry into the capital markets. The company’s shares have been priced in the range of Rs 545 to Rs 574 per share. The subscription process is slated to begin on July 14, with anchor investor bidding commencing one day earlier on July 13th.The IPO represents a substantial pure offer for sale (OFS), totaling up to Rs 11,102 crore. This offering is driven by existing promoters State Bank of India and Amundi India. The allotment is expected to be finalized on July 18, followed by the listing of shares on stock exchanges set for...

IndusInd Bank Announces Board Meeting to Consider Q1 Financial Results, Capital Augmentation IndusInd Bank Limited has scheduled a meeting of its Board of Directors for Wednesday, July 22, 2026. The board meeting is slated to cover several critical business matters, including the approval of the Unaudited Consolidated and Standalone Financial Results for the quarter ending June 30, 2026.Key items on the agenda include determining the date and time for the bank's 32nd Annual General Meeting (AGM), alongside considering proposals related to capital structure and fundraising. The Bank is set to review a proposal concerning the issuance of long term bonds or debt securities through a private placement route, which remains subject to...

India Nippon Electricals Ltd Releases Sustainability Report for FY 2025-26, Highlighting ESG Commitment and Operations in Automotive Sector India Nippon Electricals Limited (INEL) has detailed its commitment to business responsibility and sustainability through its Business Responsibility and Sustainability Report (BRSR) covering the financial year April 1, 2025, to March 31, 2026. The report provides a comprehensive look into the company's operations, workforce metrics, environmental stewardship, and social impact within the industrial landscape.INEL is primarily involved in manufacturing cutting-edge electronic ignition systems and advanced mechatronic products for the automotive industry. This core activity constitutes...

Bajaj Holdings & Investment Ltd announces Board meeting to review Q1 results; trading window closed for designated persons Bajaj Holdings & Investment Limited announced that its Board of Directors will meet on July 31, 2026. The purpose of the board meeting is to consider and approve the unaudited standalone and consolidated financial results for the quarter ended June 30, 2026.The company also provided details regarding the trading window closure for designated persons and their immediate relatives or dependents.In accordance with insider trading regulations, the period during which the trading window is closed spans from Wednesday, July 1, 2026, through Sunday, August 2, 2026, inclusive.This information provides key updates on...

Maharashtra Scooters Ltd Board Meeting Scheduled to Approve Q1 Results; Insider Trading Window Closed Maharashtra Scooters Limited has scheduled a meeting of its Board of Directors to review and approve the unaudited financial results for the quarter ending June 30, 2026. The board meeting is set to take place on Wednesday, July 29, 2026.In addition to the board deliberation, the company has declared a trading restriction period concerning its securities. The closed trading window applies to designated persons and their immediate relatives or dependents for the period spanning from Wednesday, July 1, 2026, through Friday, July 31, 2026.The key details regarding the company's operational updates are summarized below...

Non-Executive Independent Director Resigns from Amalgamated Electricity Company Ltd Amalgamated Electricity Company Ltd has announced the resignation of its Non-Executive Independent Director, Mr. Krishnaprasad Ramanathan, effective July 8, 2026. The departure was attributed to personal reasons.The Board of Directors acknowledged and appreciated Mr. Ramanathan's valuable contribution and support during his tenure with the company.Mr. Krishnaprasad Ramanathan resigned from the position after serving as a Non-Executive Independent Director. He had been appointed to the role starting September 3, 2025.The key details regarding the director’s tenure are summarized below:DesignationNameAppointment DateCessation DateReason for...

SBI Funds Management IPO Price Band Fixed; QIB Offer Period Clarified SBI Funds Management Limited (SBIFM), a subsidiary of State Bank of India, has finalized key details regarding its Initial Public Offering (IPO). The company announced the price band for the offering and clarified aspects of the bid period following an update to previous intimation.The price band for the equity shares of SBIFM was set at Rs. 545 to Rs. 574 per share, which has a face value of Rs. 1 each. A special employee discount of Rs. 54 per Equity Share will be provided to Eligible Employees as stipulated in the Red Herring Prospectus (RHP).The IPO will be conducted through the book-building process. The minimum bid lot size for the offering has been fixed at...

Kalpataru Limited receives NCLT order permitting withdrawal of demerger scheme Kalpataru Limited has received an Order from the National Company Law Tribunal (NCLT), Mumbai Bench Court III, Special Bench, allowing for the withdrawal of a specific Scheme of Arrangement related to its subsidiary.The order was received by the company on July 8, 2026.This action concerns the withdrawal of the Scheme of Arrangement for the demerger of an undertaking from Kalpataru Properties Limited, a wholly-owned subsidiary of the parent company. The scheme involved the transfer of Project Magnus, located in Bandra (East), Mumbai, from Kalpataru Properties Limited into Kalpataru Limited on a going concern basis.The withdrawal process followed a...

NLC India and NALCO Join Forces to Develop 1,080 MW Coal-based Thermal Captive Power Plant in Odisha NLC India Limited has entered into a Joint Venture Agreement with National Aluminium Company Limited (NALCO) to establish a new entity dedicated to developing a large-scale captive power plant. The joint venture aims to meet the energy requirements of NALCO's upcoming smelter expansion project in Angul, Odisha.The agreement mandates the incorporation of a Joint Venture Company (JVC), where both NLC India Limited and NALCO will hold an equal 50:50 equity stake upon the company’s formation. The JVC is tasked with developing a Coal based Thermal Captive Power Plant, which has a capacity of 4x270 MW, totaling 1,080 MW. This facility is...

Kalpataru Limited approves merger of two subsidiaries as part of group streamlining initiative Kalpataru Properties (Thane) Limited and Kalpataru Hills Residency Private Limited have agreed to a Scheme of Amalgamation aimed at consolidating similar businesses within the group. This internal reorganization, approved by both companies' boards of directors on July 8, 2026, is designed to streamline operations and optimize costs across the conglomerate.The merger involves the absorption of Kalpataru Hills Residency Private Limited (the Transferor Company) into Kalpataru Properties (Thane) Limited (the Transferee Company). The consolidation effort seeks to benefit all shareholders and stakeholders by achieving greater economies of scale...

GSPL Transmission Limited Approves Allotment of 31 Crore Equity Shares Pursuant to Amalgamation Scheme GSPL Transmission Limited (GTL) has approved the allotment of equity shares under the Composite Scheme of Amalgamation and Arrangement involving several entities. The allotment is directed towards shareholders of Gujarat Energy Limited, as determined on a specific record date.The Board of Directors of GTL approved the allocation of 31,27,43,617 equity shares of the Resulting Company. These shares were allotted to the Equity Shareholders of Gujarat Energy Limited, which was formerly known as Gujarat Gas Limited.The allotment decision was based on the Share Exchange Ratio prescribed under the Scheme and applied to shareholders who...

SBI Launches Massive IPO for Funds Management amid Sector Shifts and Strategic Partnerships The financial markets are keenly focused today as State Bank of India's subsidiary, SBI Funds Management, prepares for a major public offering. Alongside this corporate announcement, key industry updates highlight robust consumption growth in retail and materials sectors, while several companies navigate critical strategic partnerships and market shifts.IPO Alert: SBI Files Red Herring Prospectus for Funds Management SBI Funds Management has filed its Red Herring Prospectus with the Registrar of Companies (RoC) to commence its Initial Public Offering (IPO). This upcoming IPO is structured entirely as an Offer For Sale (OFS), involving two major...

Tinna Rubber Expands International Footprint by Incorporating Wholly Owned Subsidiary in Chile Tinna Rubber and Infrastructure Limited has announced its move into international business with the incorporation of a wholly owned subsidiary in Santiago, Republic of Chile. The new entity, named TINNA RUBBER CHILE SpA, is part of the company's broader strategy to expand its global operations.The incorporation of the Chilean entity marks a strategic step toward strengthening Tinna Rubber’s global supply chain. The business activities focused through this subsidiary include recycling and processing end-of-life tyres (ELTs), plastic waste and scrap, battery waste and scrap, and other related allied waste management and recycling initiatives...

India Gold ETFs Reverse Global Trend: $388 Million Inflows Defy Worldwide Outflows Amid Market Optimism Domestic Investors Drive Rally as Indian Gold ETFs See Major Influx Indian gold exchange-traded funds (ETFs) showed striking resilience in June, defying the global trend of trimming precious metal allocations. These domestic instruments attracted significant inflows amounting to approximately $388 million. This performance highlights that local investors maintained a bullish outlook on gold prices. They viewed the recent dip not as a downturn, but as a prime buying opportunity.Nippon India ETF Gold BeES led the surge in fund interest. It captured $158.4 million in inflows during June. SBI ETF Gold also contributed substantially to...

Oil Prices Skyrocket past $80 as Trump Signals Escalation Amid Intensifying Iran Tensions Oil prices surged dramatically, breaching the $80 per barrel mark after US President Donald Trump signaled the end of a tentative truce with Iran. This geopolitical escalation has injected a powerful risk premium back into global energy markets, sparking widespread concern among investors regarding severe supply chain disruptions. Brent futures saw an approximately 8% surge, reaching near two-week highs, while West Texas Intermediate oil also jumped to around $75.50 a barrel.Geopolitical Tensions and Supply Risks The dramatic rebound in crude prices reflects the potential for new energy market instability. This is heightened by President Trump’s...

Paras Healthcare Targets Massive Bed Capacity Surge to 3,011 Amid Disciplined Growth Strategy IPO-bound Paras Healthcare Ltd has unveiled an aggressive yet financially disciplined growth trajectory, planning to increase its bed capacity by approximately 36 percent by March 2028. The hospital chain, which currently operates 2,211 beds as of March 31, 2026, aims to scale up through strategic expansion focused on North India markets with low healthcare penetration and improving economic prospects.The company filed its draft papers for an Rs 1,800 crore Initial Public Offering (IPO) with SEBI in June and is currently awaiting regulatory approval to float the issue. This move underscores the growing investor interest in the high-acuity...

Victory Electric Vehicles' Financial Results Show Revenue Trends and Cash Flow Dynamics for FY2026 The financial results for Victory Electric Vehicles International Limited have been released, reflecting key operational performance metrics across revenue, profitability, assets, and cash flow for the year ended March 31, 2026. The company reported a Net Profit from continuing operations of 52.52 Lakhs, while the Balance Sheet indicated total assets matching total liabilities at the end of the period.Financial Performance Snapshot (FY2026) For the financial year ending March 31, 2026, Victory Electric Vehicles reported a Total Income of 1,545.51 Lakhs. Revenue from operations stood at 1,527.18 Lakhs, supported by Other Income amounting...

Global Equities Retreat as Geopolitical Tensions Spike: Brent Crude Tops $80 Amid Renewed US-Iran Standoff Global Markets React to Escalating Geopolitical Risks Equities saw a broad pullback across international markets, driven by heightened geopolitical risks stemming from the renewed tensions between the United States and Iran. Almost 400 shares in the S&P 500 fell as concerns mounted over potential disruptions to global energy trading.The turmoil intensified after President Donald Trump stated that a ceasefire with Iran might be over, suggesting further strikes would likely follow. This rhetoric emerged following US launches against Iranian targets and the revocation of a waiver allowing Tehran to sell oil globally.These...

Waste Mound Collapse at Antony Waste Handling Cell Leads to Plant Structure Damage in Pune A serious incident occurred at the Pimpri Chinchwad Municipal Corporation (PCMC) Waste to Energy (WtE) Plant operated by Antony Waste Handling Cell Limited. The facility experienced structural damage after a waste mound outside the plant destabilized and collapsed onto the administration building.Emergency response efforts were initiated immediately following the event. Personnel from various agencies, including the Fire Brigade, the National Disaster Response Force (NDRF), a squad from the Indian Army, Senior Officials of the Company, Pimpri Chinchwad Municipal Corporation (PCMC) officials, and local Disaster Response Teams, responded to the...