Markets

NTPC and UPRVUNL Sign Supplementary Agreement to Boost Meja Stage-II Capacity NTPC Limited (NTPC) and Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited (UPRVUNL) have signed a crucial agreement for their joint venture, Meja Urja Nigam Private Limited (MUNPL). The signing of the Supplementary Joint Venture Agreement (SJVA)-III marks a significant step in strengthening the capacity of Meja Stage-II.The SJVA-III was executed on June 4, 2026, in Lucknow. This agreement pertains to the provisions related to the capacity enhancement of Meja Stage-II within the existing Joint Venture Agreement (JVA). Under the terms of the new agreement, which involves both NTPC and UPRVUNL, the capacity is being enhanced from 2x660 MW to 3x800 MW.Meja Urja...

Rossari Biotech Serves Petition in Challenge to Unitop Chemicals Arbitration Award Rossari Biotech Limited is facing legal challenges concerning an arbitration award related to its subsidiary, Unitop Chemicals Private Limited. The company was served with a petition on June 04, 2026, by the Sellers, challenging the Arbitral Tribunal's decision.The dispute originated from the share purchase agreement (SPA) executed between Rossari Biotech and the existing shareholders of Unitop Chemicals Private Limited. This material unlisted subsidiary is owned by several individuals listed in the SPA.Rossari Biotech had previously informed stakeholders regarding the initiation of the Arbitration Proceedings, following the signing of the SPA on June...

Acme Solar Holdings Completes Qualified Institutions Placement Approves Equity Share Allocation and Pricing Acme Solar Holdings Limited announced that its Fund Raising Committee has closed the Qualified Institutions Placement (QIP) of equity shares, determining and approving the allocation details and pricing for eligible qualified institutional buyers (QIBs). The resolutions were passed by the committee during a meeting held on June 04, 2026.The company confirmed the closure of the issue after receiving application forms and funds in the escrow account from QIBs, in accordance with the terms established for the placement. The Fund Raising Committee also approved and adopted the associated placement document intended for the Issue...

Sigma Advanced Systems Approves Large Preferential Share Issue and Strategic Defense Stake Acquisition Sigma Advanced Systems Limited has approved several strategic decisions following a Board meeting held on June 4, 2026, including the preferential issuance of equity shares and a plan to increase its stake in its subsidiary, AS Strategic Private Limited.The Board sanctioned the issue of up to 13,256,470 fully paid-up Equity Shares on a preferential basis to non-promoters. These shares are offered at a price of ₹347 per share, comprising a premium of ₹337. The total aggregated value of this issuance is up to ₹459,99,95,090.The company also approved the appointment of India Ratings and Research Private Limited as its Monitoring...

Lupin Receives U.S. FDA Approval for Ranluspec TM Biosimilar Injectable Global pharmaceutical major Lupin Limited announced that the United States Food and Drug Administration (U.S. FDA) has approved its ranibizumab, Ranluspec TM (ranibizumab-hkdz), as an interchangeable biosimilar referencing Lucentis® (Genentech).Ranluspec TM is noted as the only interchangeable biosimilar ranibizumab approved in the United States in both vials and pre-filled syringes (PFS). Both presentations are approved for the strengths available for Lucentis®, specifically 0.3 mg and 0.5 mg, which correspond to 0.05 mL of 6 mg/mL and 10 mg/mL respectively.Ranibizumab is described as a recombinant humanized IgG1 monoclonal antibody fragment. It binds to and...

Income Tax Department Passes Assessment Order for Mastek Limited for FY 2022-23; Total Addition Stands at Rs 1,23,58,26,194/- Mastek Limited has received a Final Assessment Order from the Income Tax Department concerning its financial year 2022-23. The assessment order includes significant additions under transfer pricing and domestic tax laws, and the department has also initiated penalty proceedings in connection with the matter.The Income Tax Department issued the final assessment order on May 30, 2026. Based on this order, the following adjustments were computed:Category of AdditionAmount (INR)Transfer Pricing AdditionRs. 90,95,38,080/-Domestic Tax Laws AdditionRs. 32,62,88,114/-Total AdditionRs. 1,23,58,26,194/-...

IndiGo Temporarily Suspends Operations to Five International Destinations Amid Network Optimization Efforts IndiGo has announced temporary adjustments to a segment of its international network, suspending operations to several destinations due to traditionally softer demand in the upcoming quarter and a challenging cost environment. The airline will resume bookings for all affected services starting October 1, 2026.The temporary suspensions include Langkawi, Krabi, Ho Chi Minh, Hong Kong, and Shanghai. Operations to Siem Reap are also suspended but specifically targeted from July 3, 2026, until the network is reinstated. The duration of the planned adjustments runs until September 30, 2026.Despite these measured changes, IndiGo...

Shri Kushagra Mittal Appointed as Director at GAIL (India) Limited GAIL (India) Limited has appointed Shri Kushagra Mittal as a director on its board, effective from June 4, 2026. The appointment follows the nomination of Shri Mittal by the Ministry of Petroleum & Natural Gas (MoP&NG).Shri Kushagra Mittal holds a B.Tech in Mechanical Engineering from MNNIT, Allahabad and subsequently earned a Master's degree in Public Policy from IIM, Bangalore. During his time at IIM, he received the Director's Gold Medal for best overall performance.The director, who is an IRTS Officer from the Civil Services batch of 2010, currently serves in the Ministry of Petroleum & Natural Gas. In this role, he manages matters related to the Marketing...

Integrated Hitech Ltd Promoters Declare Director as Person Acting in Concert Integrated Hitech Limited has formalized the status of one of its directors, confirming that he will be acting as a Person Acting in Concert (PAC) with the company's promoters.A Gerald Ebenezer, along with Sudha Gerald Ebenezer and Renald Abel, who are listed as Promoters of Integrated Hitech Ltd, made the declaration concerning this matter.The declaration specifies that Mr Ramesh Chandra Mishra, a Director of Integrated Hitech Limited, will be acting as a Person Acting in Concert (PAC). The promoters further confirmed that the aforementioned director is operating in concert with them.Stock Price Movement At the close of trade today, shares of Integrated...

ACC Limited and Ambuja Cements Receive 'No Adverse Observations' from BSE and NSE on Amalgamation Scheme On June 4, 2026, ACC Limited announced that it has received crucial observations regarding the proposed Scheme of Amalgamation with Ambuja Cements Limited. The company confirmed receiving an observation letter with 'no adverse observations' from the Bombay Stock Exchange (BSE) and a 'no objection' status from the National Stock Exchange of India Limited (NSE).The observations relate to the Scheme of Amalgamation, which involves ACC Limited as the amalgamating company and Ambuja Cements Limited as the amalgamated company. The Board of Directors of ACC Limited had previously approved the proposed Scheme, subject to securing various...

Apollo Ingredients Ltd Approves Major MOA Alteration and Sets Related Party Transaction Limits Apollo Ingredients Ltd, formerly known as Indsoya Limited, held a Board meeting on June 4, 2026, where it considered and approved several key corporate actions, including material changes to its Memorandum of Association (MOA) and setting transaction limits with related parties.The Board reviewed and sanctioned the Annual report along with the Board Report for the financial year 2025-26. Additionally, the company approved the convening of its 46th Annual General Meeting, which is scheduled to be held on Monday, June 29, 2026, via Video Conferencing (VC) or Other Audio Visual Means (OAVM).In a significant corporate move, the Board approved...

SEBI Issues Binding Order in Crucial Decision Regarding Argentum Dynamic Alternative Investment Fund The Securities and Exchange Board of India (SEBI) has officially released a significant regulatory order pertaining to the workings and compliance standards of the Argentum Dynamic Alternative Investment Fund. This directive comes as part of ongoing oversight aimed at maintaining integrity within the alternative investment fund sector. The release underscores SEBI's commitment to rigorous monitoring of funds operating in complex financial landscapes.Details of the Regulatory Order The official order, issued by SEBI on June 4, 2026, addresses specific matters related to the Argentum Dynamic Alternative Investment Fund (AIF). This formal...

SEBI Unveils Landmark Order on Utilis Fund: Regulators Move to Clarify Governance and Compliance The Securities and Exchange Board of India (SEBI) has issued a critical order concerning the Utilis Fund. This decisive action underscores the regulator's commitment to robust oversight and maintaining high standards of compliance within fund management entities. The release, dated 04/06/2026, signifies a major step in regulatory governance for stakeholders involved with the Utilis Fund.SEBI’s Action on Utilis Fund Regulatory Compliance The order issued by SEBI addresses specific matters pertaining to the Utilis Fund. This release is part of the ongoing supervisory mandate held by the regulator. Such directives are crucial for ensuring...

Thangamayil Jewellery Ltd Clarifies Stock Price Movement Attributing Rise to Market Forces Thangamayil Jewellery Limited has issued a clarification regarding the recent movement of its share price. The company addressed inquiries related to its stock performance, affirming that it holds no undisclosed material or price sensitive information that could relate to any increase in its shares' value.The company stated that all necessary disclosures relating to the operations and performance of Thangamayil Jewellery Ltd have been made. Following this assurance, the management confirmed that the rise in the scrip of the company is market driven, and there is no internal information available that connects to the stock price appreciation...

Grand Foundry Limited Appoints New Statutory and Internal Auditors, Sets Date for 34th Annual General Meeting Grand Foundry Limited has completed key corporate governance appointments following a Board meeting held on June 4, 2026. The Board approved the appointment of M/s Agarwal & Saxena as the company's Statutory Auditor and M/s Goyal Mittal & Associates LLP as the Internal Auditor. The management also scheduled the 34th Annual General Meeting (AGM) for June 30, 2026.The Board approved M/s Agarwal & Saxena, Chartered Accountants (ICAI Firm Registration No. 002405C), to serve as the Statutory Auditors for a term of five consecutive years. This appointment is subject to approval by members at the ensuing AGM and commences from the...

High Court of Gujarat issues Interim Order, Staying Arbitration Proceedings in Shashijit Infraprojects Dispute Shashijit Infraprojects Ltd has received an Interim Common Oral Order from the Hon'ble High Court of Gujarat regarding a dispute involving leased property acquired from Vapi Municipal Corporation. The order, dated June 2, 2026, stays the arbitration proceedings that the company had initiated against the opposing party.The matter concerns the disputed leased property secured from Vapi Municipal Corporation (erstwhile Vapi Nagar Palika). To protect and enforce its contractual rights, Shashijit Infraprojects subsequently moved to initiate arbitration proceedings. However, the opposing party, Vapi Municipal Corporation...

Orient Cement and Ambuja Cements Scheme of Amalgamation Receives 'No Adverse Objection' from BSE and NSE Orient Cement Limited has received observation letters from both the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE) concerning its proposed scheme of amalgamation with Ambuja Cements Limited. The exchanges granted observations on June 4, 2026, stating no adverse objection to the transferor company's proposal.The observation letters confirm that the company has met necessary requirements regarding listing and continuous listing stipulations as per both exchanges. This development comes after Orient Cement’s Board of Directors approved the proposed Scheme of Amalgamation between the two cement companies...

Rbm Infracon Reports Strong FY26 Results: Revenue Jumps 53%, PAT Increases 54% YoY RBM Infracon Limited, a specialist EPC and turnaround services contractor to major industrial sectors, has announced its audited financial results for the year ended March 31, 2026. The company reported a strong performance in FY26, delivering record annual revenue and profitability despite external challenges such as supply chain disruptions.The consolidated results show significant growth across key metrics. Revenue from Operations rose by 53% year-over-year (YoY) to ¥492.22 Crores. Profit After Tax (PAT) increased 54% YoY, reaching ¥45.28 Crores. EBITDA grew by 69% to X74.09 Crores, while the company successfully expanded its EBITDA margin by 146...

AVI Polymers Ltd increases authorized capital and approves share split amid strategic diversification pivot AVI Polymers Ltd has undertaken significant corporate restructuring, approving an increase in its authorized share capital, a bonus issue, and a sub-division of equity shares as part of its strategic move into sustainable industries. The Board meeting on June 4, 2026, finalized these decisions while also greenlighting the company's diversification into high-growth environmental sectors.The company approved altering and increasing its Authorized Share Capital from Rs 1,00,00,00,000 (Rupees Hundred Crore Only), comprising 10,00,00,000 Equity Shares of Rs 10/- each, to Rs 1,05,00,00,000 (Rupees One Hundred and Five Crore Only)...

Confidence Petroleum India Ltd Reconstitutes Key Corporate Committees The Board of Directors of Confidence Petroleum India Ltd approved the reconstitution of several corporate committees during a meeting held on June 4, 2026. These decisions relate to the operational governance structures within the company.The changes span multiple oversight bodies, including the Audit Committee, Nomination and Remuneration Committee, Stakeholder Relationship Committee, Risk Management Committee, and the Corporate Social Responsibility Committee. The Board meeting commenced at 06:30 PM and concluded at 7:40 PM.###Committee ReconstructionsThe approved composition for each committee is as follows:Audit CommitteeMember NameDirector Category...