Markets

Karnataka Bank Celebrates World Environment Day with Plantation Drive at Mangaluru Head Office Karnataka Bank held a plantation drive at its Head Office premises in Mangaluru to observe World Environment Day on June 5, 2026. The event was organized to promote environmental conservation and sustainability within the community and among bank staff.The initiative was led by the Bank’s Managing Director & CEO, Shri Raghavendra S. Bhat, along with various senior management officials. As part of the day's activities, participants planted saplings at the premises, reinforcing the Bank's commitment to a greener future.Speaking on the occasion, Shri Raghavendra S. Bhat stressed the crucial need for protecting nature and adopting...

NCLT Sanctions Scheme of Amalgamation of Dhanuka Laboratories Limited with Orchid Pharma Limited The National Company Law Tribunal (NCLT), Chennai, has sanctioned the scheme of amalgamation and arrangement concerning Dhanuka Laboratories Limited and Orchid Pharma Limited. The decision was made on June 05, 2026.By virtue of this sanction, the Amalgamating Company, Dhanuka Laboratories Limited, will be transferred to and vested in the Amalgamated Company, Orchid Pharma Limited. This transfer occurs on a going concern basis for both the shareholders and creditors of both companies involved in the scheme.The resolution confirms the amalgamation between Dhanuka Laboratories Limited and Orchid Pharma Limited, thereby consolidating...

Jindal Photo Ltd Board Approves Tenure Extension for Redeemable Preference Shares Jindal Photo Ltd's Board of Directors approved the extension of tenure for two series of its redeemable preference shares during a meeting held on Friday, June 05, 2026. The decision was made subsequent to the Board meeting, which commenced at 03:30 PM and concluded at 04:15 PM.The approval concerning the extension of tenure is subject to the consent received from the holders of Redeemable Preference Shares.Details regarding the shares covered under the approved extension are provided below:S. No.ParticularsNo. of SharesOriginal Maturity DateExtended Maturity Date1Redeemable Preference Shares (Series 1)1,50,00,000June 10, 2026June 10, 2031...

RMC Switchgears Ltd Appoints Key Executives as Senior Management Personnel RMC Switchgears Ltd has announced the designation of two senior executives as part of its management team, effective June 05, 2026. The appointments were approved by the Board of Directors through a resolution passed by circulation.The company designated Mr. Vikash Verma, Deputy CFO, and Mr. Ojas Sethi, Head of Finance and Accounts, as Senior Management Personnel (SMP). These appointments strengthen the company’s leadership structure in critical financial and operational roles.Details regarding the background and experience of both appointees are provided below:ParticularsMr. Vikash Verma (Deputy CFO)Mr. Ojas Sethi (Head of Finance and Accounts)...

Msafe Equipments Ltd: Rachit Jain Resigns as Business Head - Formwork Division Msafe Equipments Ltd has announced the resignation of Mr. Rachit Jain from his position as Business Head of the Formwork Division. The management confirmed that he is relieved of his duties effective from June 15, 2026.Mr. Jain submitted his formal resignation on June 1, 2026. In his letter, he cited differences in expectations regarding the development, timelines, and management approach for the Formwork Division as the reason for stepping down.The company acknowledged Mr. Jain's resignation and confirmed his separation date. Although he requested a three-month transition period to assist both parties in securing new arrangements, the departure was set...

Alembic Pharmaceuticals Urges Shareholders to Update KYC Details and Dematerialize Physical Shares Alembic Pharmaceuticals Ltd has issued a reminder regarding mandatory updates for shareholders who hold company securities in physical form. The company mandates that all such security holders complete required KYC formalities and update details to ensure the timely credit of dividends or interest.The communication stresses the importance of updating PAN, Address with PIN code, Mobile Number, Bank Account details, Specimen Signature, and choosing a nomination option for shareholders holding shares in physical mode.A key directive issued by the company is that if a security holder has not updated necessary KYC fields—including PAN or...

Steel Strips Infrastructures Ltd Receives Rs 2.25 Crore as Management Rights and Sale Consideration for SAB Mall, Noida Steel Strips Infrastructures Ltd has completed key milestones regarding the agreement to sell and the transfer of management rights pertaining to SAB Mall in Noida, Uttar Pradesh. The company confirmed the receipt of the balance consideration following the execution of an addendum agreement to sell and the Memorandum of Understanding (MOU).The successful completion of these steps includes the transfer of management rights and the handover of specified original title documents to the buyer, as stipulated by the MOU. While the sale is outside the scope of a Scheme of Arrangement, the company stated that the proceeds...

Zerodha Unveils Life Cycle Fund 2041: Auto-De-risking Strategy Anchored by Glide Path for Long-Term Financial Goals Zerodha Mutual Fund has launched the Zerodha Life Cycle Fund 2041, a sophisticated open-ended fund designed specifically for goal-based investors with a long-term horizon. This product is not merely an investment vehicle but a dynamic portfolio managed to systematically reduce risk as it approaches its predefined target maturity date of 2041. The fund aims to deliver capital appreciation while transitioning from aggressive equity exposure in the initial years toward a more conservative, debt-heavy allocation as the timeline shortens.The Life Cycle Fund 2041 provides investors with a structured path for wealth creation...

Sammaan Capital Limited Pays Interest on Unsecured Redeemable Non-Convertible Debentures Sammaan Capital Limited has fulfilled its obligation regarding the interest payment on a portion of its Unsecured Redeemable Non-Convertible Subordinated Debt in the nature of Debentures (NCDs). The company confirmed the timely disbursement of the full interest amount related to this debt instrument.The details pertaining to the interest payment are as follows:ISINIssue Size (INR lacs)Interest Amount Paid (INR lacs)FrequencyActual Payment DateDue Date for Interest PaymentINE894F08087110031171.819500YearlyJune 05, 2026June 04, 2026The transaction covered the NCDs issued on a private placement basis. The interest payment made on June 05...

RBI Unveils Crucial Economic Surveys: Urban and Rural Confidence Gauged as Inflation Expectations are Released The Reserve Bank of India (RBI) today released the results of several key forward-looking surveys, providing deep insights into consumer sentiment and macroeconomic outlook. The release provides stakeholders with detailed perspectives from households regarding their economic concerns and expectations for the near future.Consumer Sentiment and Outlook Reports The RBI published the Urban Consumer Confidence Survey (UCCS) and the Rural Consumer Confidence Survey (RCCS) for May 2026. These reports offer comprehensive views on the purchasing power and overall mood of both metropolitan and rural populations across India.These...

Sagar Cements Completes Board Approval for Merger with Andhra Cements Ltd. Sagar Cements Limited has approved a Scheme of Amalgamation involving its subsidiary, Andhra Cements Limited (ACL). The merger aims to achieve complete operational integration and strategic alignment within the cement manufacturing business, creating a more streamlined corporate structure for the combined entity.The Board of Directors, during a meeting held on June 5, 2026, reviewed and approved the Scheme, which involves merging Andhra Cements Limited (the Transferor Company) with Sagar Cements Limited (SCL, the Transferee Company). This consolidation is expected to deliver improved operational efficiencies, enhanced value creation, and greater market...

RBI Fixes Interest Rate on FRB 2031 at 6.64% for June-December Period RBI Announces Rate of Interest on Government of India Floating Rate Bond (FRB 2031) The Reserve Bank of India (RBI) has officially set the rate of interest applicable to the Government of India Floating Rate Bond 2031 (FRB 2031). This critical decision, announced on June 5, 2026, defines the yield for a specific six-month period.The rate of interest on FRB 2031 is mandated at 6.64 per cent per annum. This rate will apply to all instruments covering the half year spanning from June 07, 2026, through December 06, 2026.Understanding the Mechanism of FRB 2031 Interest Rate The structure of the interest payment on FRB 2031 is intrinsically linked to prevailing...

Garlon Polyfab Industries Ltd Reports Unaudited Financial Results for Quarter Ended December 31, 2025 Garlon Polyfab Industries Limited has announced its unaudited financial results for the quarter ended December 31, 2025. The company disclosed these results following a Board meeting held on February 13, 2026.The Management reported that the Board of Directors considered and approved the unaudited standalone financial results for the quarter ended December 31, 2025. These results were reviewed by Statutory Auditors P.D Agrawal & Co., who issued a Limited Review Report along with the financials.Auditor's Limited Review The Limited Review was conducted in accordance with the Standard on Review Engagement (SRE) 2410 of the Institute of...

Midwest Energy Limited Appoints New Company Secretary, Shifts Registered Office Midwest Energy Limited, formerly known as Midwest Gold Limited, announced key outcomes from its recent Board of Directors meeting held on June 05, 2026. The company utilized the board meeting to appoint a new Company Secretary and Compliance Officer and formalized a change in its registered office address.The appointment pertains to Ms. Prabhat Bhamini, who has been designated as the Company Secretary and Compliance Officer, effective from June 05, 2026. Ms. Bhamini is described as a qualified professional with experience spanning corporate secretarial functions, regulatory compliance, and governance matters for both listed and unlisted entities. Her role...

RBL Bank’s Paid-up Share Capital Increases Following Allotment of Shares Via Stock Options RBL Bank Limited has completed the allotment of equity shares to eligible employees following the exercise of vested stock options under its ESOP Scheme(s). The issuance was executed on June 05, 2026.The Bank allotted 285,407 equity shares, each having a face value of Rs. 10/- , to its staff members.This capital transaction resulted in an increase in the paid-up share capital of RBL Bank Limited. Prior to the allotment, the Bank held 61,91,37,806 equity shares aggregating to Rs. 619,13,78,060.Post-allotment, the paid-up share capital has increased to 61,94,23,213 equity shares of Rs. 10/- each, totaling Rs. 619,42,32,130.RBLBANK Stock...

Karnawati Innovation Cancels Board Meeting Scheduled for June 5, Due to Unfinalized Financial Results Karnawati Innovation Ltd., formerly known as Bisil Plast Limited, has cancelled its scheduled Board Meeting set for Friday, June 5, 2026. The meeting was intended to approve the Audited Financial Statements for the quarter and financial year ended March 31, 2026.The decision to cancel the meeting was made because the statutory audit process is currently ongoing, and the necessary financial results have not yet been finalized by the company.Karnawati Innovation will communicate a revised date for the Board Meeting in due course. The management noted that the company intends to inform stakeholders once the financial results are...

BEML Appoints Shri Dinesh Mahur as Government Nominee Director, Smt Meera Mohanty Steps Down BEML Limited has announced changes in its Board composition concerning government oversight. The company welcomed Shri Dinesh Mahur, Additional Secretary (DP), Department of Defence Production, as a new Government Nominee Director (Part-time official Director). Concurrently, the Ministry of Defence conveyed the withdrawal of nomination for Smt Meera Mohanty, Joint Secretary (P&C), marking her cessation from this role.The appointment of Shri Dinesh Mahur is effective from June 05, 2026, following an order issued by the Ministry of Defence dated June 05, 2026.Appointment Details: Shri Dinesh Mahur Shri Dinesh Mahur has been appointed to the...

Government Appoints New Director at Mishra Dhatu Nigam Limited Mishra Dhatu Nigam Limited has seen a change in its government nominee directorial appointment. The Ministry of Defence appointed Shri Prakash Rajpurohit as the new Government Nominee of Director on the board, effective June 5, 2026. Concurrently, the tenure of Shri Amit Satija as the Government Nominee Director concluded with this appointment.The appointment of Shri Prakash Rajpurohit was made following an Office Memorandum issued by the Ministry of Defence dated June 5, 2026. Shri Rajpurohit is appointed as Joint Secretary (Defence Industries Promotion).Shri Prakash Rajpurohit brings a background of extensive public service and technical expertise to the role. He is a...

SEBI Delays Keep Rising: Key Companies Face Processing Bottlenecks Amid Diligence Scrutiny SEBI's release of processing status for draft offer documents highlights the ongoing diligence process required for companies seeking an Initial Public Offering (IPO). As noted by regulatory filings, several issuers are awaiting observations from the regulator regarding their structured offerings. This weekly update provides a comprehensive look into the status of various IPO and pre-filing requests as of June 5, 2026.Status of Draft Offer Documents Under Process at SEBI The market is tracking over 35 companies whose draft offer documents have been filed with SEBI. These offerings span different types, including Initial Public Offers (IPO)...

RBI Slams Puran Associates with ₹3.10 Lakh Penalty Over Non-Compliance in Asset Classification The Reserve Bank of India (RBI) has levied a monetary penalty against Puran Associates Private Limited for failing to comply with specific provisions related to asset classification. The regulatory action, formalized by an order dated May 27, 2026, imposes a fine totaling ₹3.10 lakh on the company.The RBI exercised powers conferred under Section 58G(1)(b) read with Section 58B(5)(aa) of the Reserve Bank of India Act, 1934, to enforce compliance standards. This penalty follows intensive supervisory findings from an inspection conducted by the RBI based on the company's financial position as of March 31, 2025.Failure in Asset Classification...