Markets

Royal Arc Electrodes Approves Re-appointment of Directors; Bipin Sanghvi named Chairman & MD The Board of Directors of Royal Arc Electrodes Limited has approved the re-appointment of key personnel following a meeting held on June 10, 2026. The appointments were made based on the recommendation of the Nomination & Remuneration Committee and are subject to shareholder approval.The company confirmed that Mr. Bipin Shantilal Sanghvi will be re-appointed as Chairman & Managing Director for a period of five years. This role is set to commence from April 01, 2027.Additionally, the Board sanctioned the re-appointment of Mr. Hardik Bipin Sanghvi and Mr. Swagat Bipin Sanghvi as Whole-Time Directors. Both individuals will serve in these...

Baroda BNP Paribas Services Fund Launches: A Deep Dive into Thematic Equity Investment for Long-Term Wealth Date: 10/06/2026Baroda BNP Paribas Mutual Fund has unveiled the Baroda BNP Paribas Services Fund, a newly launched open-ended equity scheme designed for investors focused on long-term wealth creation within India's booming services sector. This thematic fund aims to capitalize on the structural shift in the Indian economy by making disciplined investments in companies whose primary business is driven by intangible value and service delivery.The scheme mandates a heavy focus on the Services theme, offering investors exposure to diverse and high-growth sub-sectors like FinTech, logistics providers, education services, and...

Solarium Green Energy Named Second Largest Vendor for Residential Solarization under MNRE Scheme Solarium Green Energy Limited has been recognized by the Ministry of New and Renewable Energy (MNRE), Government of India. The company secured the status of the Second Largest Vendor for the solarisation of residential homes across India, in connection with the PM Surya Ghar Muft Bijli Yojana initiative.The recognition was granted following an event organized by MNRE. Mr. Ankit Garg, Chairman & Managing Director of Solarium Green Energy Limited, received this designation at a National Programme titled "Two Years of PM Surya Ghar: Scaling the Solar Home to 1 Crore Rooftops."This industry milestone positions Solarium Green Energy Ltd to...

Petronet LNG Pays Fines to NSE and BSE for Non-Compliance in Q1 2026 Petronet LNG Ltd has confirmed the payment of penalties levied by National Stock Exchange of India Limited (NSE) and BSE relating to non-compliance with certain regulations for the quarter ended March 31, 2026. The company paid the fines as per the calculations provided by both stock exchanges.The payments pertain to Regulation 17(1) of SEBI (LODR) Regulations, 2015, and include details regarding the amounts payable and amount paid after TDS for both exchanges.The penalty structure involving BSE Limited is detailed below:ParticularsAmount Payable Including GST (in Rs.)Amount Paid After TDS (in Rs.)Unique Transaction ID and DateBSE Limited (Regulation 17(1)...

Deccan Gold Secures Pathway to 51% Stake in Strategic Spanish Tungsten Project Deccan Gold Mines Limited has signed a definitive Earn-In, Option and Shareholders Agreement for the Logrosan Tungsten Project in Spain. This agreement establishes a pathway for the company to acquire an initial 51% stake in the project by March 2027, aligning with the global trend toward securing critical mineral resources.The transaction involves Deccan Gold investing EUR 1.76 million to progressively acquire the desired stake in Logrosan Minera S.L. By agreement, Deccan Gold will have the option to increase its ownership to 75%, subject to agreed milestones and independent valuation. There is also a potential for the company's stake to grow up to 95%...

Wipro Limited Allots Equity Shares Across Three Stock Unit Plans Wipro Limited announced the allotment of equity shares following the exercise of Employee Stock Options (ESOPs) on June 9, 2026. The company allocated shares under three distinct incentive schemes, related to its long-term employee compensation structure.The allotments include significant quantities across plans dating from 2004 and 2007, as well as a major allotment under the most recent scheme for employees.Details of the equity share allocations are as follows:Scheme / PlanAllotted Equity SharesNotesADS Restricted Stock Unit Plan 20043,25,166Restricted Stock Unit Plan 200786,666Employee Stock Options, Performance Stock Unit and Restricted Stock Unit...

Promoter Group Completes Inter-Se Transfer of 20,000 Equity Shares in Bharat Rasayan Limited A transaction involving an inter-se transfer of shares between Promoters and Promoters Group has been completed concerning Bharat Rasayan Limited (BRL). BRL Finlease Limited, which is part of the Promoters Group, acquired 20,000 equity shares of the company through an on-market transaction.The acquisition involved various members of the Promoter Group. The total transfer amounted to 20,000 Equity Shares of Bharat Rasayan Limited between the Promoters and Promoters Group. These shares were allotted as follows: Shri Sat Narain Gupta received 11,000 shares, Smt. Savita Gupta received 5,000 shares, and Smt. Manju Gupta received 2,000 shares.The...

Krystal Integrated Services Limited Secures 4-Year Contract to Provide Facility Management Services in Delhi Krystal Integrated Services Limited, formerly Krystal Integrated Services Private Limited, has secured a significant contract for providing specialized facility management services at Maharashtra Sadan in New Delhi. The work order covers Mechanized House Keeping Services, Front Office Management, Reception duties, and Maintenance of Engineering Services for both the new and old Maharashtra Sadan buildings.The contract was awarded by the Office of Resident Commissioner, Maharashtra Sadan. Krystal Integrated Services Limited will execute this agreement over a period spanning four years. The engagement falls under the category of...

Textiles and Steel Face No Overcapacity Allegations as India Rejects USTR Probe Findings Government Defends Indian Manufacturing Against Excess Capacity Claims A senior government official has definitively refuted claims of surplus capacity in India's textile and steel sectors. Amitabh Kumar, Director General of Trade Remedies and Additional Secretary in the commerce ministry, stated that the country does not possess overcapacity in these key manufacturing industries.The statement was made on Wednesday, refuting international allegations regarding structural excess capacity and production within Indian manufacturing sectors. Mr. Kumar emphasized that such claims do not align with current realities or data points provided by India.He...

India Ratings Assigns IND BBB-/Stable Rating to Desco Infratech Ltd’s Bank Loan Facilities India Ratings and Research (Ind-Ra) has assigned a credit rating of IND BBB-/Stable/IND A3 to the bank loan facilities of Desco Infratech Limited (DIL). The assignment relates to an instrument valued at INR 110 million.The rating reflects DIL’s experienced promoters, established client relationships, and revenue improvement in FY26, supported by a robust and diversified order book. Ind-Ra expects the company’s operating performance to improve in the near to medium term, driven by the execution of existing projects and anticipated new orders.Financial Health and Rating Metrics The rating action was based on a standalone view of DIL. The...

Embassy Developments Ltd Strikes Off Wholly Owned Subsidiary to Simplify Corporate Structure Embassy Developments Limited has completed the voluntary strike-off and dissolution of a wholly owned subsidiary, Dev Property Development Limited (DPDL). The move is part of the Company’s initiative to simplify its corporate structure and reduce administrative and compliance costs. Following this action, DPDL no longer operates as a subsidiary of Embassy Developments Limited.The event was handled entirely through voluntary strike-off, meaning it did not constitute the sale or disposal of any unit, division, undertaking, or substantially the whole of the subsidiary by the listed entity.Details regarding the disposed entity and the...

Servotech Renewable Power System Limited Warrants Lapse, Forfeit Upfront Amount of Rs 24 Crore Servotech Renewable Power System Limited has announced that all convertible warrants issued under a preferential basis have lapsed after not being exercised within the stipulated timeframe. Consequently, the company has forfeited the upfront amount associated with these warrants.The company had originally allotted 58,50,000 convertible warrants at an issue price of Rs 167.40 per warrant. These warrants were issued to enable their conversion into equity shares of face value Rs 1 each, following a preferential allotment conducted on December 10, 2024. The warrant holders were given a period of 18 months from the date of allotment to exercise...

PPAP Automotive Partners with HUTCHINSON to Acquire Exclusive Rights for Advanced Body Sealing Systems in India PPAP Automotive Limited has entered into a significant partnership agreement with HUTCHINSON, a globally recognized leader in automotive sealing solutions. This collaboration grants PPAP the exclusive license in India to manufacture, market, and sell advanced body sealing systems for the passenger vehicle segment, leveraging HUTCHINSON’s established technologies and know-how.The partnership is set to be effective starting April 1, 2026. Through this agreement, PPAP will gain access to advanced global technology and engineering expertise from HUTCHINSON to develop and commercialize specialized automotive sealing products in...

Sudarshan Pharma Incorporates Wholly-Owned Subsidiary in USA for Global Market Penetration Sudarshan Pharma Industries Ltd has expanded its international footprint by incorporating a wholly-owned subsidiary in the United States of America. The new entity, named Sudarshan Industries Inc. (Sudarshan USA), was formally established on Friday, June 5, 2026. This move solidifies the company's commitment to enlarging its customer base within the American market.The parent company invested in the new subsidiary through the subscription of shares and acquisition of full control. Sudarshan Pharma committed to 1,00,00,000 shares of US $0.00001 each of Sudarshan USA. This investment aggregated to US $100, equivalent to approximately Rs. 9,600/-...

Deccan Gold Mines secures Rs 2 Crore loan from Modali Consultants LLP for project development Deccan Gold Mines Limited has completed the documentation process for availing a loan of Rs 2 Crores from Modali Consultants LLP. The financing deal is intended to support the company's Development of Companies project.The agreement between Deccan Gold Mines Limited (the Borrower) and Modali Consultants LLP (the Lender) outlines specific terms regarding the debt funding. Key conditions of the arrangement include a tenure of 12 months and an annual interest rate set at 12%. The transaction is noted as not involving any relationship with the promoter or promoter group, nor is it categorized as a related party transaction.The loan facility...

Rane Subsidiary Acquires Equity in Hexa Energy for Solar Power Procurement M/s. Rane Steering Systems Private Limited (RSSL), a wholly owned subsidiary of Rane Holdings Limited, has entered into significant arrangements to secure renewable energy resources. The company has signed a Power Purchase Agreement (PPA) with Hexa Energy BH Eleven Private Limited ('Hexa') and simultaneously executed a Share Subscription and Shareholders' Agreement with Hexa for the acquisition of equity shares in the entity.This strategic move enables RSSL to procure renewable energy from Hexa, positioning the transaction as crucial for regulatory compliance regarding electricity consumption under Indian Electricity laws. The PPA covers procuring solar energy...

Banks Surge FCNR Deposit Rates as RBI Intensifies Measures to Combat Capital Slowdown Major Indian banks have significantly hiked rates on Foreign Currency Non-Resident Bank (FCNR-BP) deposits in response to new incentives introduced by the Reserve Bank of India (RBI). This move is aimed at stimulating foreign currency inflows and bolstering capital stability within the country. Banks such as HDFC Bank, Yes Bank, and AU Small Finance Bank have accelerated their rates drastically to attract international deposits.HDFC Bank Executes Steepest FCNR Rate Hike HDFC Bank, recognized as India’s largest private bank, has implemented a sharp hike in its FCNR-B deposit rates. The institution increased its rates by approximately 235 basis points...

Eternal Limited Receives GST Adjudication Order for Output Tax Short Payment Eternal Limited has received an order concerning the demand of Goods and Services Tax (GST) relating to a period spanning April 2023 to March 2024. The order was issued by the Deputy Commissioner (ST), State Special Circle-I, Andhra Pradesh.The adjudication covers alleged short payment of output tax, which includes financial liabilities totaling nearly ten crore rupees. Eternal Limited stated that it believes it has a strong case on merits regarding the matter.The details of the GST demand received on June 09, 2026, encompass the following financial components:CategoryAmount (INR)GST Demand6,48,72,000/-Interest2,49,53,504/-Penalty64,87,200/-...

SEBI Orders Asset Attachment: ₹5 Lakhs Sought from Sushil Kumar Saraf Over Alleged Stock Option Defaults The Securities and Exchange Board of India (SEBI) has issued a major directive ordering the attachment of bank accounts belonging to Sushil Kumar Saraf in connection with allegations related to illiquid stock options. The recovery order, released by the SEBI Eastern Regional Office on June 10, 2026, details the seizure action taken against the defaulter to recover outstanding dues.The directive specifically targets all bank accounts held by Mr. Saraf, including any personal lockers or joint accounts across all banks in India. The order mandates that no debit shall be made into these accounts to the extent of the total amount due...

BRL Finlease Acquires 20,000 Shares of Bharat Rasayan Limited in Promoter Group Inter-Transfer M/s. BRL Finlease Limited, identified as part of the Promoter Group of Bharat Rasayan Limited, has acquired a tranche of equity shares from other members of the promoter group through an on-market transaction. The acquisition involves 20,000 Equity Shares of Bharat Rasayan Limited (BRL), which trades under the symbol "BHARATRAS" on the National Stock Exchange of India Limited.The inter-setransfer was completed on June 9, 2026, at prevailing market prices. The transaction involved the acquisition of 20,000 Equity Shares, representing 0.1203% of the company’s total diluted share capital. This transfer aligns with the ongoing shareholding...