Markets

ONGC Approves USD 500 Million Parent Guarantee for Subsidiary MRPL Oil Imports Oil and Natural Gas Corporation Limited (ONGC) has approved a significant corporate guarantee intended to facilitate the crude oil imports of its subsidiary, Mangalore Refinery and Petrochemicals Limited (MRPL). The Board of Directors of the company sanctioned the proposal to provide a Parent Company Guarantee (PCG) valued at USD 500 million.The PCG is set up in favour of Saudi Arabian Oil Company (Saudi Aramco). This financial backing will enable MRPL to import crude oil directly from Saudi Aramco for a specified period.MRPL, which operates as a subsidiary of ONGC, will benefit from the guarantee throughout the duration of the agreement. The coverage...

NCLT Approves Resolution Plan for Wind World India Ltd; Authum Investment Commits INR 350 Crore The resolution plan involving the acquisition of Wind World (India) Limited has received approval from the Hon'ble National Company Law Tribunal (NCLT), Ahmedabad Bench. The order granting approval was issued on July 27, 2026.The resolution plan involves a consortium comprising Inox Neo Energies Limited (INEL) and Authum Investment & Infrastructure Limited. This joint effort aims to acquire aspects of Wind World (India) Limited (WWIL).Under the approved Resolution Plan, INEL, acting as the Lead Member or its affiliates, is set to acquire two key areas from WWIL: the Intellectual Property (IPP) and power sale undertaking, as well as the...

Dwarikesh Sugar Industries Reports Q1 FY27 Results; Loss Narrowed Compared to Previous Year Mumbai, July 28, 2026: Dwarikesh Sugar Industries Limited announced its unaudited financial results for the quarter ended June 30, 2026. In Q1 FY27, the company reported a loss before tax (LBT) of Rs. 34.38 crore and a loss after tax (LAT) of Rs. 25.73 crore, reflecting changes compared to the results in Q1 FY26, when it posted an LBT of Rs. 13.03 crore and a LAT of Rs. 9.38 crore.The company's performance was characterized by lower contributions from both sugar and ethanol segments, coupled with the absence of byproduct sales during the quarter.Financial Performance Overview Total income stood at Rs. 360.07 crore for Q1 FY27, down from Rs...

Crizac Acquires Inova Education Expanding European Reach and Strengthening Mexico Market Position Crizac Limited, an international student recruitment platform, has acquired 100% of the shareholding in Inova Consultancy Limited ('Inova Education') through a wholly owned subsidiary. This strategic acquisition expands Crizac's presence into the Netherlands and reinforces its university partnerships across the UK and Europe.The move significantly boosts Crizac’s ambition to become a leading global international education platform. As part of the deal, Crizac will take over Inova Consultancy Limited's full business operations. These acquired assets include Inova’s recruitment platform, commercial contracts, operational processes, business...

City Union Bank Reports Strong Q1 FY27 Results with Profit and Asset Quality Improvements City Union Bank Limited announced its performance results for the first quarter of Financial Year 2026-27, demonstrating robust growth across key operational areas. The bank reported a significant rise in profit, coupled with improvements in asset quality during the period ended June 30, 2026.The Board of Directors approved the standalone un-audited financial results for the quarter.Financial Performance Overview (Q1 FY27 vs Q1 FY26) The bank saw marked growth in its income generation and profitability. Total Income grew by 21%, while Net Interest Income increased substantially.ParticularsQ1 FY27Q1 FY26Growth (%)Interest Income1,985...

Sirca Paints India Announces Q1 Financial Results For Quarter Ended June 30, 2026 Sirca Paints India Limited has released its Unaudited Standalone and Consolidated Financial Results for the quarter ended June 30, 2026. The Board of Directors reviewed and approved these results at a meeting held on July 28, 2026. These financial statements were prepared in accordance with Indian Accounting Standard 34 (Ind AS 34) as prescribed under Section 133 of the Companies Act, 2013.The company operates exclusively in one segment: manufacturing and repackaging of wood, wall paints, and related products. The Financial Results provide comprehensive insight into the performance across the quarter, comparing key metrics against previous periods...

Netweb Technologies Announces Quarterly Results for June 30, 2026; Sets Dividend Record Date Netweb Technologies India Limited has released its quarterly unaudited financial results for the quarter ended June 30, 2026. The company also announced a key record date related to dividend eligibility and provided details regarding its upcoming Annual General Meeting (AGM).The financial results were reviewed by an Independent Auditor and approved by the Board of Directors.Financial Performance Snapshot The company's performance metrics for the quarter ended June 30, 2026, showed Total Income of 8,281.58 million INR. Total expenses stood at 7,140.20 million INR, leading to a Profit before Tax of 1,141.38 million INR.The financial figures...

ICRA Limited acquires remaining stake in Fintellix, making it a wholly-owned subsidiary ICRA Limited has completed the acquisition of the remaining 1.25% shareholding in Fintellix India Private Limited, formalizing its control and establishing the company as a wholly-owned subsidiary. The transaction was executed with a consideration of INR 3.17 crores, and cash payment constituted the entire cost of acquiring the shares.With this acquisition, ICRA Limited has ensured that Fintellix India Private Limited operates entirely under its umbrella, solidifying its position within the company's operations. Consequently, subsidiaries of ICRA have also become step down wholly-owned subsidiaries as of the completion of the purchase.Fintellix...

Equitas Small Finance Bank Reports Financial Results for Quarter Ending June 30, 2026 Equitas Small Finance Bank Limited has released its Unaudited Financial Results for the quarter ended June 30, 2026. The results were approved by the Board of Directors and subjected to limited review by the Joint Statutory Auditors, M/s ASA & Associates LLP and M/s Suri & Co.The bank also confirmed that the issue proceeds from Non-Convertible Debentures (NCDs) have been fully utilized for their intended purposes and that these NCDs are unsecured.Financial Performance Highlights For the quarter ended June 30, 2026, Equitas Small Finance Bank recorded specific figures across its income and expenditure lines. Key financial metrics include...

Pace Digitek Group Crosses 300 Utility-Scale BESS Container Milestone, Signaling Expansion in Energy Storage Pace Digitek Limited has achieved a significant manufacturing milestone through its subsidiary, Lineage Power Private Limited (LPPL). The company has successfully manufactured 300 utility-scale Battery Energy Storage System (BESS) containers, representing approximately 1.5 GWh of battery energy storage capacity.The achievement underscores Pace Digitek’s expanding footprint within the rapidly growing battery energy storage sector. In support of the increasing demand for advanced BESS solutions, the company is executing a series of major expansion initiatives across its operations.These strategic growth plans include augmenting...

Adani Cement Reports Q1FY27 Results Amid Market Headwinds; Focus Shifts to Value and Blended Products Adani Cement released its first quarter results for the fiscal year 2027, showcasing a focus on optimizing quality earnings amid challenging market conditions. The consolidated figures reflect strategic decisions emphasizing trade mix and premium products, despite operating cost pressures driven by global events in West Asia.The company reported volumes of 17.1 million tonnes (MnT) in Q1FY'27, marking a 7% decline year-over-year (YoY). Revenue from operations stood at ₹9,500 Crore (Cr), which is an 8% decrease compared to the same period last year. The consolidated EBITDA reached ₹1,589 Cr, resulting in an EBITDA margin of 16.7%.On...

Cemindia Projects Reports Record Order Book and Stable Quarterly Performance in Q1 FY27 Mumbai: Cemindia Projects Limited today announced its unaudited financial results for the quarter ended June 30, 2026. The company reported a record order book of ₹ 31,307 crores as of that date, while consolidated revenue grew by 5.6% year-on-year (YoY) to ₹ 2,721 crores.The results indicate consistent operational and financial performance across the quarter. Consolidated Profit After Tax (PAT) stood at ₹ 141 crores for Q1 FY27, marking a 2.6% YoY growth, while consolidated EBITDA was ₹ 285 crores, which saw a significant 9.4% increase compared to the previous year.Financial and Balance Sheet Metrics The company's consolidated financial...

Pine Labs Posts Strong Q1 FY27 Results; Revenue Jumps 20% as Profit After Tax Multiplies Fourfold Pine Labs Limited reported significant financial growth for the quarter ended June 30, 2026, announcing a 20% year-over-year (YoY) increase in revenue and a fourfold surge in Profit After Tax (PAT). The company highlighted its strategic build-out of next-generation commerce architecture, leveraging India’s digital payment rail ecosystem.The financial results demonstrated robust business health across all segments. Revenue from Operations reached ₹ 737 Cr. This was complemented by exceptional profit performance, with PAT rising to ₹ 20 Cr, up dramatically from ₹ 5 Cr in the previous year's corresponding quarter. Profit Before Tax (PBT)...

City Union Bank Reports Q1 FY27 Results; Net Profit Stands at 34,237 Lakh City Union Bank Limited announced its integrated Standalone Un-Audited Financial Results for the quarter ended June 30, 2026. The results reflect a net profit of 34,237.32 lakh, with the bank maintaining a Capital Adequacy Ratio (Basel III) of 27.73% as of the period.The Bank reported total income of 222,457.44 lakh for Q1 FY27. The profitability metrics showed that interest expenditure was 116,485.10 lakh, and operating expenses totaled 48,315.02 lakh. After accounting for provisions and tax expenses, the Net Profit/Loss from Ordinary Activities after tax stood at 34,237.32 lakh.Key Financial Highlights (Rs in Lakh) A summary of the key figures for Q1 FY27...

Cholamandalam Reports Strong Quarter 1 FY27 Results; Highlights 46% YoY Profit Surge and Capital Strength Cholamandalam Investment and Finance Company Limited (CIFCL) announced its unaudited financial results for the quarter ended June 30, 2026. The company reported a significant increase in profitability across various segments, alongside successful debt raising operations. The Board of Directors approved the results, which demonstrated strong operational momentum driven by expanding disbursements and sustained asset quality.The Company also confirmed that proceeds from the issuance of Non-Convertible Debentures (NCDs) aggregating to Rs 55,000 crores have been fully utilized as per stated purposes.Financial Performance Review CIFCL...

Grob Tea Completes Acquisition of Bazaloni Group Limited, Establishes Wholly Owned Subsidiary The Grob Tea Company Limited has successfully completed the acquisition of 100% equity share capital of Bazaloni Group Limited. Effective July 28, 2026, Bazaloni Group Limited has become a Wholly Owned Subsidiary (WOS) of The Grob Tea Company, according to the transaction details provided.The acquisition was finalized in line with the terms set out in the Share Purchase Agreement executed on July 1, 2026. This move is intended to strengthen and expand the company's business operations, enhancing growth, revenue, and profitability within the highly competitive Tea Industry.Transaction DetailsThe Grob Tea Company acquired all 1,596,500...

Dwarikesh Sugar Industries Announces First Quarter Results with Board Approval Dwarikesh Sugar Industries Limited has released its Unaudited Financial Results for the first quarter ended June 30, 2026. The company announced the results following the meeting of its Board of Directors held on July 28, 2026, which included the adoption of the financial statement along with a Limited Review Report issued by Statutory Auditor Mittal Gupta & Co., Chartered Accountants.The company's consolidated performance metrics for the quarter showed specific operational figures across its business segments. The results were reviewed and confirmed by the Board of Directors.Financial Performance Highlights (Q1, Ended June 30, 2026) The Statement of...

Ginni Filaments Limited Approves Major Personnel Changes, Greenlights South Africa Subsidiary as Q3 Results Are Released Ginni Filaments Limited released its Unaudited Financial Results for the quarter ending June 30, 2026. The results were presented alongside several corporate decisions approved by the Board of Directors at a meeting held on July 28, 2026. Key among these decisions was the approval to pursue the incorporation of a wholly owned subsidiary in the Republic of South Africa (RSA).The company also addressed leadership continuity and re-appointment during the board meeting. The Board approved the continuation of Shri Shishir Jaipuria as Managing Director beyond the age of 70 years, subject to shareholder approval at the...

Indian Textile and Apparel Exports Surge: Global Demand Drives Growth to ₹3,25,339 Crore India’s textile and apparel sector has demonstrated remarkable resilience and robust growth in the domestic and international markets. Exports of textiles, garments, and handicrafts have steadily climbed, driven by consistent policy support and strategic market diversification. The comprehensive data reflects a growing global appetite for Indian products, solidifying the nation's position in the international trade landscape.Textile Exports Chronicle Growth and Resilience The sector recorded significant overall growth in the period under review. Total exports of textiles and apparel, including handicrafts, increased from ₹2,97,004 crore in 2023-24...

Indian Technical Textiles Sector Surges on Mission Support, Achieving ₹3,420 Crore Trade Surplus The domestic technical textile industry has demonstrated robust financial health, recording a net trade surplus of ₹ 3,420.20 crore in Fiscal Year 2025-26. This performance highlights the success and strategic importance of the National Technical Textiles Mission (NTTM), which was initiated in 2020 to significantly boost the country's technical textile sector.The strong trade balance is underpinned by substantial export figures, as Indian exports of technical textiles reached ₹ 29,217.60 crore. This success stands against imports totaling ₹ 25,797.40 crore during the same period, positioning the sector favorably in global markets...