Markets

Supreme Infrastructure Details Progress on Open Offer Amid SEBI Observations Supreme Infrastructure India Ltd provided an update concerning the ongoing open offer process. The clarification addresses observations made by the Securities and Exchange Board of India (SEBI) and outlines the current steps being taken by the involved parties.SEBI issued an observation letter dated May 25, 2026, concerning the Draft Letter of Offer. This observation letter required the Acquirers and PACs (Promoter/Associate Companies) to proceed with the open offer for 3,09,00,665 equity shares. These shares represent 26% of the fully diluted voting share capital of the company.The Acquirers and PACs have submitted a representation to SEBI. This...

Servotech Renewable Secures ₹400 Crore MoU with Haryana Govt for Energy Manufacturing Expansion Servotech Renewable Power System Ltd., a leading manufacturer of solar and renewable energy solutions, has signed a Memorandum of Understanding (MoU) with the Haryana Enterprises Promotion Centre (HEPC), Department of Industries & Commerce, Government of Haryana. The agreement formalizes the company's plans to significantly expand its manufacturing and warehousing operations within the state, backed by a proposed investment of approximately ₹400 crore.The MoU was executed on June 2, 2026, following the official launch of the 'Make in Haryana' Industrial Policy 2026, which took place in Gurugram on June 1, 2026, in the presence of the Chief...

Supreme Infrastructure India Clarifies Position Amid Ongoing Open Offer Process Supreme Infrastructure India Limited provided a clarification regarding the ongoing Open Offer concerning its shares, addressing regulatory observations and clarifying the roles of involved parties.The company noted that SEBI issued an observation letter dated May 25, 2026, related to the Draft Letter of Offer. This observation letter required the Acquirers and Persons Acting in Concert (PACs) to proceed with the Company.Supreme Infrastructure India Limited stated that the Acquirers/PACs have made representations to SEBI seeking reconsideration of several observations, including the requirement and interest computation.The company emphasized that it is...

NCLT Indore Bench Approves Interim Applications for CMM Infraprojects Resolution Plan CMM Infraprojects Limited announced that the National Company Law Tribunal (NCLT), Indore Bench, approved key interim applications filed by the company on June 2, 2026. The approvals relate to the ongoing implementation of the company’s Resolution Plan under Corporate Insolvency Resolution Process (CIRP).The positive outcome follows the company's previous intimation regarding the matter, which was first communicated on November 7, 2025.During the hearing on June 2, 2026, the NCLT, Indore Bench approved the company’s interim applications seeking two main directives concerning the Resolution Plan.The key approvals granted by the tribunal were...

ICRA Upgrades Credit Rating and Revises Outlook for Vodafone Idea Limited ICRA Limited has upgraded the credit rating and revised the outlook for Vodafone Idea Limited. The rating revision was communicated to the company on June 1, 2026.The change in rating reflects a positive assessment of the company's financial position, shifting the rating and outlook structure for the Long Term Fund Based Term Loans.The details of the credit rating revision are presented in the table below:Credit Rating AgencyFacilityEarlier Rating/ OutlookRevised Rating/ OutlookICRALong Term - Fund Based - Term LoansBBB (Outlook: Positive)A- (Outlook: Stable)The company confirmed that the detailed rating rationale will be made available on the ICRA...

BSE Approves Reclassification of Promoters for Utique Enterprises Ltd BSE Limited has granted approval for the reclassification of two outgoing promoters of Utique Enterprises Ltd. The entities, Honcho Trading Private Limited and Chivas Trading Private Limited, are to be reclassified from the "Promoter and Promoter Group Category" to the "Public Category."The approval details the status change for the following promoters:Promoter NamePrevious CategoryNew CategoryChivas Trading Private LimitedPromoter and Promoter GroupPublic CategoryHoncho Trading Private LimitedPromoter and Promoter GroupPublic CategoryThis development marks the completion of the reclassification process for the outgoing promoters, confirming their...

Infosys and Handelsblatt Media Group Launch AI-Powered Engine to Enhance Digital Storytelling Infosys, a global leader in digital services, and the Handelsblatt Media Group, Germany's foremost media group for business and finance, have jointly unveiled Editorial Link Intelligence (ELI). This new AI-powered editorial recommendation engine is designed to significantly elevate digital journalism by improving storytelling and boosting reader engagement for the Handelsblatt and WirtschaftsWoche platforms.The launch marks a crucial achievement in Infosys' three-year collaboration with Handelsblatt, positioning Infosys as its official AI & Digital Innovation Partner.Editorial Link Intelligence (ELI) leverages Infosys Aster, an AI-amplified...

Servotech Renewable Power System Signs MoU with Haryana Government to Drive Clean Energy Growth Servotech Renewable Power System Limited announced the execution of a Memorandum of Understanding (MoU) with the Haryana Enterprises Promotion Centre (HEPC), Government of Haryana. The agreement, established on June 1, 2026, aims to foster a robust framework for collaboration and cooperation between the Company and various departments of the Government of Haryana.The partnership is designed to support investment and development across the State of Haryana, focusing particularly on industrial growth and the expansion of clean energy manufacturing sector.The collaboration between Servotech Renewable Power System Limited and HEPC, alongside...

Intellect Design Arena Launches AI Digital Banking Platform for UK and Europe Intellect Design Arena Ltd., a global leader in AI-first, enterprise-grade financial technology, announced the launch of its AI Digital Banking platform. The platform is specifically designed for new challenger banks and digital-native entrants aiming to establish an AI-native digital bank across the United Kingdom and Europe.The launch follows extensive global research conducted by Intellect's research lab, which identified 51 recurring friction points and 28 critical capabilities inherent in launching and scaling digital banks across key domains including acquisition, credit, and operational resilience. Leveraging these deep insights, the new platform aims...

GSM Foils Limited Reports Sales Performance for May 2026 GSM Foils Limited released its sales volume performance figures for the month of May 2026. The company reported detailed financial data comparing the performance against May 2025 and the combined April-May period.The reported sales figures indicate significant year-over-year growth for the company across both monthly and two-month periods.GSM Foils Limited provided the following financial performance data (Amounts in Rs.):ParticularsMay, 2026May, 2025YoY Growth (%)April-May 2026April-May 2025YoY Growth (%)Net Sales345,953,935/-176,136,574/-96.41%616,224,218/-338,211,755/-82.20%GSMFOILS Stock Price Movement Shares of GSM Foils Limited are edging higher to ₹213.45 as...

ITCONS E-Solutions Ltd Secures New Contract of INR 12.89 Million from Ministry of Ayush ITCONS E-Solutions Ltd, listed on the BSE SME Exchange, has announced that it has secured a significant new contract from the Ministry of Ayush. The agreement involves the provision of resources under the category of Manpower Outsourcing Services for a period of one year.The contract award, which is marked as a significant milestone for the company, details the scope of work and the total financial value.According to the announcement, the contract, awarded by the Ministry of Ayush, mandates the deployment of 32 resources. The total contract value is reported as INR 12,892,544.95 (Rupees One Crore Twenty-Eight Lakh Ninety-Two Thousand Five Hundred...

Ankit Agarwal Confirms No Encumbrance on Vedanta Limited Shares for FY 2025-26 Ankit Agarwal has provided confirmation regarding his shareholding in Vedanta Limited, stating that there have been no encumbrances placed on his shares.The statement confirms that during the financial year 2025-26, Mr. Agarwal has not created any encumbrance, directly or indirectly, against his shareholding in Vedanta Limited. This confirms the status of his holdings for the specified financial period.VEDL Stock Price Movement As of 12:46 PM, shares of Vedanta Limited are slipping by 1.99% in live trading, currently at ₹330.45. The stock is trading amidst significant investor interest, moving on a volume of 21.90 million shares.

Emirates NBD Bank to Acquire 26% Stake in RBL Bank Limited Through Open Offer Emirates NBD Bank (P.J.S.C.) is conducting an open offer for the acquisition of a significant stake in RBL Bank Limited. The transaction aims to acquire up to 415,586,443 equity shares of Rs. 10 each, representing 26.00% of the Expanded Voting Share Capital of the bank.The open offer, which details the public acquisition of the shares, is governed by the terms set out in the Letter of Offer dated May 22, 2026.Reporting on the latest status of the open offer, the transaction details that, as of June 1, 2026, zero (nil) Equity Shares, constituting 0.00% of the total offer size, had been tendered. This data was noted in the Open Offer Escrow Demat Account...

Advik Capital Limited Initiates Criminal Proceedings to Safeguard Shareholder Interests Advik Capital Limited, a non-deposit-taking Non-Banking Financial Company (NBFC), announced on June 2, 2026, that it has initiated criminal proceedings against certain persons and entities in a step designed to safeguard shareholder interests.The company stated that this action follows earlier public announcements regarding concerns identified in relation to transactions involving its securities.Advik Capital Limited has filed a criminal complaint under the provisions of the Bharatiya Nagarik Suraksha Sanhita, 2023. The complaint names Fairplan Distributors Private Limited and several other individuals, alleging offences under the Bharatiya Nyaya...

Royal Orchid Hotels Ltd Completes Sale of Subsidiary Multi Hotels Limited to Greenleaf Properties Royal Orchid Hotels Ltd (ROHL) has successfully completed the sale of its wholly owned subsidiary, Multi Hotels Limited, confirming the transaction initiated via a Share Purchase Agreement dated January 29, 2026. The Company confirmed that the final installment of the sale consideration was received on June 2, 2026, officially concluding the disposal.With the receipt of the final funds, Multi Hotels Limited ceased to be a subsidiary of Royal Orchid Hotels Ltd effective June 2, 2026.The sale involves transferring Multi Hotels Limited to M/s Greenleaf Properties Limited, a company registered in Tanzania. ROHL previously held a 96.37%...

Steel City Securities Limited Penalized by NSE Following Capital Market Inspection Steel City Securities Limited reported that it has been levied a penalty by the National Stock Exchange of India Limited (NSE) following an inspection of the firm's operations in the Capital Market (CM) segment.The penalty, amounting to Rs. 10,000/-, was issued by the National Stock Exchange of India Limited subsequent to an inspection conducted in the CM segment during February 2025.The Company stated that the financial and operational impact of the penalty is not material to its overall business activities. Steel City Securities Limited clarified that the penalty will not affect its financials, operations, or other key activities.STEELCITY Stock...

Sungold Capital Ltd Approves Key Reports and Sets Dates for 34th Annual General Meeting Sungold Capital Ltd conducted its Board Meeting on June 02, 2026, where the Board of Directors considered and approved several critical operational and compliance items, including the logistics for the company's 34th Annual General Meeting (AGM).The Board Meeting commenced at 11:30 A.M. and concluded at 12:15 P.M. During the meeting, the Board approved the following foundational documents:The Board of Directors Report and its Annexure for the financial year 2025 - 2026. The Management Discussion and Analysis Report for the financial year ended on March 31, 2026.34th Annual General Meeting Details The Board determined the schedule and...

United Heat Transfer Limited Secures Domestic Purchase Order from Siemens Energy Worth Rs. 1 Crore United Heat Transfer Limited announced the receipt of a substantial purchase order for the manufacturing and supply of Pressure Vessels. The contract was awarded by Siemens Energy Industrial Turbomachinery India Private Limited, marking a significant domestic business transaction for the company.The order, which is categorized as a domestic contract, involves the manufacturing and supply of Pressure Vessels. The total broad consideration for this contract is approximately Rs. 1,00,00,000/- (excluding tax). The transaction was confirmed to be neither a related party nor would it fall within related party transaction parameters.The...

Rose Merc Executes Shareholders Agreement with Virtual Gain Technologies Rose Merc Limited announced the execution of a Shareholders Agreement (SHA) on June 01, 2026. This agreement was established among Rose Merc Limited, Virtual Gain Technologies Private Limited (Virtual), and the company's promoters, aimed at formally recording the inter se rights and obligations of all parties as shareholders of Virtual.The agreement follows a prior transaction where Rose Merc had recorded a proposed acquisition of a 30.01% stake in Virtual’s post issued share capital. This proposed acquisition involves the subscription to 4,288 equity shares of Virtual, having a face value of Rs. 10 each, for an aggregate consideration of Rs. 1,00,00,000.The...

Wanbury Limited Reports 117% PAT Growth in FY26; EPS More Than Doubles to 20.55 Wanbury Limited, a pharmaceutical company with global API presence and a domestic branded formulations portfolio, today announced its audited financial results for the full year and fourth quarter ended March 31, 2026. The company reported a 117% year-on-year increase in Profit After Tax (PAT) to "66.1 Cr.The financial results highlight strong bottom-line growth, with Earnings Per Share (EPS) more than doubling to "20.55 in FY26. This growth was underpinned by operational efficiencies, favorable product mix, and improvements in procurement processes.FY26 Financial Performance Highlights The company recorded robust performance across major metrics for the...