Markets

Aluminium Crisis: Govt Panel Recommends Scrap Duty Scrapping as Global Prices Surge and Supply Tightens A mines ministry joint working group has built consensus on removing the 2.5 percent import duty imposed on aluminium scrap. Sources indicate that this recommendation is likely to be submitted to the finance ministry this month for a final decision. The move aims to mitigate the impact of an inverted duty structure that is reportedly hindering domestic competitiveness.The proposal addresses serious concerns faced by downstream manufacturers, including recyclers and component makers. These companies are forced to import scrap material and pay the applicable duty while competing against finished aluminium products entering India from...

Consortium of Indian Entities and PERMINAS Signs MoU for Critical Minerals Development in Indonesia Midwest Energy Limited, alongside Midwest Limited and the Non-Ferrous Materials Technology Development Centre (NFTDC), has entered into a Memorandum of Understanding (MoU) with PT Perusahaan Mineral Nasional (Persero) (PERMINAS). The collaboration focuses on evaluating potential joint ventures across the rare earth value chain within Indonesia.The MoU establishes a framework for the consortium to assess opportunities ranging from upstream exploration and resource assessment through mining, processing, extraction, refining, and downstream manufacturing in general. Specifically, the agreement covers Rare Earth magnet production...

Continental Securities Ltd Increases Paid-up Capital Following Warrant Conversion to Equity Shares Continental Securities Ltd has seen an increase in its paid-up equity capital following the Board of Directors' decision to approve the conversion of warrants into equity shares. The company processed the allotment of 5,00,000 fully paid-up equity shares to a promoter group allottee.The resolution was passed by the Company's Board on July 8, 2026. This move follows a special resolution passed by shareholders in January 2025 and subsequent principle approval from BSE Limited received on January 29, 2025.Financial Impact of Conversion The conversion resulted in an increase in the company’s paid-up equity capital. Prior to the...

Leadership Shakeup at Julien Agro Infratech as Key Directors Tender Resignations Julien Agro Infratech Ltd has seen multiple changes in its leadership structure, with the company accepting several resignations of its directors and senior executives. The Board of Directors approved these transitions during a meeting held on July 7, 2026.The company accepted the resignation of Mr. Lalit Sureka as Managing Director and Chief Executive Officer, effective July 7, 2026. Prior to this, Mr. Sureka had submitted his resignation from the position of Managing Director and CEO due to other professional commitments.In addition to Mr. Sureka's departure, the company also accepted the resignation of Mr. Sandip Dalmia, who served as Whole Time...

Key Leadership Changes at Julien Agro Infratech as Directors Resign Julien Agro Infratech Ltd has seen multiple departures from its leadership team and board, effective July 07, 2026. The company announced the acceptance of resignations spanning top management roles to independent directorship positions following a recent Board meeting.The changes affect several key members of the company’s senior ranks. Mr. Lalit Sureka tendered his resignation from the position of Managing Director and Chief Executive Officer. Simultaneously, Mr. Sandip Dalmia resigned as Whole-Time Director and Chief Financial Officer.In addition to these C-suite departures, three Non-Executive Independent Directors (NEIDs) have also submitted their resignations...

Kusumgar IPO Subscription Hits 32% on Day One; Grey Market Premium Signals Potential Listing Surge The Kusumgar Limited Initial Public Offering (IPO) has garnered a solid investor response on its first day of bidding. The Rs 650-crore issue, which opened today, July 8, was subscribed to approximately 32 percent by 10:30 AM. This offer will remain open for investors through July 10.According to data from the National Stock Exchange (NSE) up to 10:30 AM, total bids amounted to 36,42,100 against 1,14,68,094 shares offered across all categories. This translates to an overall subscription level of nearly 0.32 times the issue size.Subscription Breakdown and Market Sentiment Non-institutional investors led the initial bidding process...

Polychem Ltd Fixes July 17, 2026, as Record Date for Final Dividend of Rs 20 Per Share Polychem Ltd has set Friday, July 17, 2026, as the record date for members regarding the dividend payout for the financial year ending March 31, 2026. This action follows approval by the Board concerning a final dividend payment.The company confirmed that the final dividend is Rs 20/- per equity share, against an equity share value of Rs 10/-, representing 200% on the equity shares.Members whose names appear in the Company's Register of Members as of July 17, 2026, will be eligible to receive the dividend if it is declared at the ensuing Annual General Meeting (AGM). The final dividend will be paid within 30 days of the AGM date.Stock Price...

Gujarat Poly Electronics Ltd Fixes Record Date for Potential Dividend Payout Gujarat Poly Electronics Ltd has announced the record date for shareholders regarding a potential final dividend payment for the financial year ended March 31, 2026. The company has set July 17, 2026 as this crucial date.The announcement confirms that the company had approved a final dividend amounting to Rs 0.50 per equity share. This dividend represents a 5% payment on the equity shares of the company, which are valued at Rs 10/- each.Shareholders whose names appear on the Company's Register of Members as of Friday, July 17, 2026, will be eligible for the payment. The final dividend, pending its declaration at the ensuing Annual General Meeting (AGM), is...

Ola Electric Clarifies Media Reports Regarding Supplier Disputes and Legal Proceedings Ola Electric Mobility Limited has issued a clarification regarding media reports concerning disputes with two suppliers, confirming active legal processes aimed at resolving performance and warranty concerns.The Company addressed the coverage in mainstream media related to negotiations and events surrounding supplier issues. Ola Electric confirmed that it had raised warranty and performance-related concerns concerning certain parts provided by Anevolve Mando E-Mobility Private Limited and Sterling E-Mobility Solutions Private Limited, which remained unresolved.In response to these issues, the Company initiated arbitration proceedings against both...

Cement Margins Face Squeeze as Input Costs Surge amid Volume Growth Outlook Q1FY27 Earnings Preview: Fuel Costs Weigh on Cement Profitability despite Strong Volume Demand The Indian cement industry is projected to achieve healthy volume growth in the June quarter, yet profitability remains under pressure. Nomura's Q1FY27 earnings preview indicates that escalating fuel and packaging costs are expected to offset the benefits of improved trade prices. The brokerage forecasts that the sector will deliver 6-7% year-on-year organic volume growth during the quarter, with strong demand continuing toward the end of the period.Average trade prices for cement saw a sequential improvement of 3%, reaching approximately Rs 326 per bag, thanks to...

Intellect Recognized in Forrester Report as Notable Vendor for eMACH.ai Retail 6DX POS Solutions Intellect Design Arena Ltd., a global leader in AI-First, enterprise-grade financial technology, has been included in Forrester's report, 'The Point-Of-Service Solutions Landscape, Q2 2026'. This recognition highlights the growing relevance of Intellect’s eMACH.ai Retail 6DX Platform in shaping how retailers modernize their omnichannel checkout processes, empower store teams, and unify operations to deliver seamless shopping experiences.The Forrester research provides an overview of 20 POS vendors and serves as a guide for digital business strategy professionals evaluating solutions that support advanced retail needs. The report positions...

Tilaknagar Industries Reports Record Monthly Sales of 3.4 Million Cases in June 2026, Highlights Premiumization Strategy Tilaknagar Industries Ltd. (TI), a leading alcoholic beverage company in India, announced that it achieved record sales volumes for the month of June 2026, reaching a combined volume of 3.4 million cases. This performance was driven by strong business from Imperial Blue Whisky and Mansion House Brandy.The company recorded its highest monthly sales volume in June 2026. In addition to June, the combined business had also exceeded the three million case mark in May 2026. During both months, Imperial Blue Whisky crossed two million cases, indicating sustained consumer demand across key markets.Mr. Nishant Jain, Chief...

Sensex Bounces Back Amid Volatility as Nifty Holds Near Key Levels Despite Geopolitical Tensions Equity benchmarks Sensex and Nifty managed to pare their losses on July 8, showcasing a degree of resilience despite global instability. The indices saw periods of recovery, driven primarily by strategic value buying in the market.At the mid-morning trading session, the Sensex showed signs of strength, having risen 300 points from its daily low. Meanwhile, the Nifty index was near reclaiming the crucial 24,300 mark.Market Performance Snapshot and Trading Trends As reported at 10:43 am, the Sensex stood at 77,832.92. This reflected a decline of 347.80 points, corresponding to a 0.44% dip for the index.The Nifty traded at 24,290.30...

Patspin India Receives Notice From Central Bank of India Regarding Working Capital Loan Default Patspin India Ltd has received a notice from M/s Central Bank of India concerning the possession of the Company's assets and properties. The notice was received on July 7, 2026.The action stems from the default in repayment of the Working Capital Term Loan provided by M/s Central Bank of India, identified as the company’s banker.This development relates to the enforcement of security interest concerning Patspin India Ltd.'s assets and properties following the loan repayment default.Stock Price Movement Patspin India Ltd. settled on Tuesday at ₹7.12, declining 0.70% in post-market trading. The shares experienced a volatile day, ranging...

Max Healthcare Institute Details Status of Litigation Against Kalinga Hospital Ltd. Before NCLT Max Healthcare Institute Ltd has provided an update on ongoing litigation involving Kalinga Hospital Ltd. (KHL), a subsidiary of the company in which Max Healthcare holds a majority equity stake, acquired from another shareholder.The dispute involves an interlocutory petition filed before the National Company Law Tribunal (NCLT). This petition was initiated by BRS Capital Two Pte. Limited and requests a stay on a Postal Ballot Notice issued by KHL. The notice, dated May 29, 2026, relates to increasing borrowing limits and creating a charge on assets of the company.The proceedings regarding this matter were heard before the NCLT on July 7...

Pharmaceutical Logistics Boost: Navi Mumbai Airport Designated as Key Port for Drug Imports Under Drugs Rules, 1945 Government Strengthens Supply Chain by Naming Navi Mumbai Airport a Crucial Import Point The Ministry of Health and Family Welfare has taken a significant step to bolster India's pharmaceutical supply chain. Through a recent notification, the government has officially designated the newly inaugurated Navi Mumbai Airport in Maharashtra as an approved port for the import of drugs. This move streamlines critical logistical pathways for importers across the country.This amendment addresses Rule 43A of the Drugs Rules, 1945. The inclusion of Navi Mumbai Airport marks a vital addition to the network facilitating pharmaceutical...

Vdeal System Secures New Contract Worth ₹22.5 Lakhs for Power Distribution System Supply Vdeal System Limited has announced the receipt of a new order for the supply of a Power Distribution System, signing a contract with Vedanta. The deal is set to bolster the company's growth trajectory and contribute to enhanced shareholder value.The order, valued at ₹2,256,819.46 (Rupees twenty-two lakhs fifty-six thousand eight hundred nineteen and forty-six paise only), involves Vdeal System Limited supplying a Power Distribution System to Vedanta. The company views this contract as a natural expansion of its business operations, reaffirming its commitment to the successful execution and delivery of projects.The commercial terms of the order...

HDFC Bank, ICICI Rise as Nomura Projects Banking Sector Resilience Ahead of Q1 Earnings Blitz Banks are bracing for a challenging quarter, with market sentiment leaning towards resilient loan growth but facing moderated pressure on profitability margins. A detailed earnings preview from Nomura suggests that while lending momentum remains strong across the sector, higher operational costs and deposit trends will curb outright profit expansion.The brokerage anticipates core pre-provision operating profit (PPOP) growth averaging 12% year-on-year for banks under its coverage. This uplift is expected to be primarily driven by a robust 9% growth in net interest income (NII), complemented by effective control over operating expenses...

Goldman Sachs Slams KPIT Target: Stock Price Sinks as EV R&D Spending Weakens, FY27 Growth Looks Flat Shares of KPIT Technologies Ltd traded largely stable in early trading on Wednesday, despite receiving a reduced target price from the brokerage firm Goldman Sachs. While maintaining a 'Neutral' rating, Goldman Sachs significantly cut its target price, citing persistent headwinds related to weaker client activity and a sluggish recovery in electric vehicle R&D spending.The stock is currently valued at Rs 558.85, trading down 0.63 percent in the morning session. This movement contrasts sharply with its performance year-to-date, as the shares are down 51.5 percent, substantially surpassing the 6.7 percent decline seen in the Nifty 50...

The Leela Earns Spot as World's #2 Best Hotel Brand in Travel + Leisure Awards 2026 Survey The Leela Palaces, Hotels and Resorts has been recognized globally, securing the position of the #2 Best Hotel Brand in the prestigious Travel + Leisure World's Best Awards 2026 Survey. This accolade underscores the brand's standing as a leading luxury hospitality provider rooted in Indian culture and heritage.According to the survey, The Leela Palace Udaipur was ranked as the No. 2 Resort in India and featured among the Top 100 Hotels in the World. Simultaneously, The Leela Palace New Delhi received recognition, ranking as the #2 Best City Hotel in India for the same brand.The award marks a significant milestone for The Leela, which is...