Markets

Massive Shift: MoSPI Unveils Framework for New Services Production Index, Targeting 50% of GVA Sector The services sector stands as a powerhouse in the Indian economy. It is described as the most dynamic and rapidly expanding segment, contributing nearly 53 percent of India's Gross Value Added (GVA). This robust sector generates substantial employment and has emerged as a key driver for national growth, investment, and exports.The release of the Technical Advisory Committee on Compilation of the Index of Services Production (ISP) represents a major strengthening of India's statistical measurement system. ISP is poised to provide, for the first time, a comprehensive monthly measure tracking short-term movements within the nation's...

Swastik Pipe Limited Appoints Forensic Auditor following NPA Classification by State Bank of IndiaSwastik Pipe Limited has engaged a Chartered Accountant firm to conduct a forensic audit of its accounts and transactions, following an account classification as a Non-Performing Asset (NPA) in January 2026. The appointment was initiated by the State Bank of India (SBI), which is the lead bank in the consortium involved with the company.The forensic audit involves a fact-finding review covering the past six financial years of the company's operations. SBI intimated the appointment of M/S Pawan Puri & Associates to conduct the comprehensive audit and review.The audit pertains to fund-based and non-fund-based credit facilities provided...

Deutsche Bank Cautions on AI Hype: 'Productivity Gains Are Still Years Away' Artificial intelligence promises revolutionary boosts to productivity, but achieving these economic benefits may take several years, according to Jim Reid of Deutsche Bank. The global head of macro and thematic research at the German lender’s institute expressed his excitement about AI’s potential for transformation. However, he stressed that properly integrating this technology into enterprises will require significant time and careful management.The Timeline for Embedding AI Benefits Reid stated in an interview with Bloomberg Television that his career has not presented anything comparable to the potential of AI when considering productivity gains. While...

India Overhauls BIT Model to Shield FPIs, Guaranteeing Faster Arbitration Access A significant shift is underway in India's bilateral trade framework as new Bilateral Investment Treaties (BITs) are being redesigned to specifically incorporate safeguards for Foreign Portfolio Investors (FPIs). This move aims to substantially enhance the ease of doing business and boost investor confidence by addressing concerns regarding portfolio asset treatment. The revised BIT model, expected in the coming months, seeks to eliminate gaps that previously existed between long-term direct investments and more sensitive FPI portfolios.A BIT serves as a crucial pact between two nations designed to protect and promote investments. These treaties provide...

Ideaforge Technology Announces Board Meeting to Approve Q1 Un-Audited Financial Results A meeting of the Board of Directors has been scheduled for Ideaforge Technology Limited to review and approve the Un-Audited Financial Results on both Standalone and Consolidated bases. The results pertain to the Quarter ended June 30, 2026.The board meeting is set for Thursday, July 16, 2026.In addition to the meeting announcement, the company has also outlined restrictions concerning insider trading. In line with internal codes of conduct and regulations related to the prohibition of insider trading, the trading window in the securities of the company will remain closed for Directors, Officers, Designated persons, and their immediate relatives...

Metal Optics Breakthrough: How Tiny Strain Can Unlock Programmable Nanophotonic Devices Overturning Physics: Researchers Tune Metals with Mechanical Strain A significant breakthrough originating from Bengaluru has overturned a decades-old assumption in physics. Researchers have successfully demonstrated that the optical properties of metals can be actively tuned by applying mechanical strain. This finding moves beyond traditional materials science, opening new pathways for developing fully reconfigurable and programmable optical devices.The ability to control light interaction within metal structures is crucial for next-generation technology. The research team focused on transforming plasmonics from a fixed component into an active...

Wipro Board Meeting Scheduled for Mid-July to Approve Q1 Financial Results and Discuss Dividend Declaration Wipro Limited has scheduled its next meeting of the Board of Directors for July 15-16, 2026. The meeting is set to consider and approve various aspects related to the company's performance during the quarter ending June 30, 2026.The agenda items slated for review include the condensed audited standalone financial results prepared under IIndAS, as well as the condensed audited consolidated financial results prepared under IFRS for the same period. Furthermore, the Board is scheduled to deliberate on the declaration of an interim dividend for the financial year 2026-27.The final approval of these financial results by the Board...

Chembond Chemicals Announces Board Meeting to Approve Quarter-End Financial Results; Insider Trading Restrictions Confirmed Chembond Chemicals Ltd has scheduled a Board of Directors meeting to review and approve the Un-Audited Financial Results for the quarter ending June 30, 2026. The company also confirmed details regarding insider trading restrictions related to this event.The meeting is set to take place on Thursday, July 16, 2026. During the board session, directors will consider and approve the Un-Audited Financial Results for both the Standalone and Consolidated bases for the quarter ended June 30, 2026.In adherence to regulations regarding insider trading, the company announced that the trading window for its Directors...

Voltamp Transformers Declares Dividend and Schedules Annual General MeetingVoltamp Transformers Limited has announced the entitlement details for its shareholders regarding the financial year 2025-26, alongside setting out the schedule for the upcoming Annual General Meeting (AGM). The company confirmed that Friday, July 24, 2026, will serve as the Record Date.The declaration entitles shareholders to a dividend of ₹100/- (@1000%) per Equity Share. This payment is based on the shares having a face value of Re. 10/- each and being fully paid-up for the financial year 2025-26.To facilitate shareholder participation, Voltamp Transformers has established specific timelines for the AGM and related voting procedures. The schedule...

Retail Credit Surges as NBFCs Deploy Funds; Agriculture and Housing Loans Drive 14.2% Sectoral Growth Non-Banking Financial Companies (NBFCs), including housing finance companies (HFCs), are witnessing a robust expansion in their credit deployment, according to provisional data released by the Reserve Bank of India (RBI) for May 2026. The overall credit registered by NBFCs saw a strong year-on-year growth of 14.2 per cent in May 2026, significantly outpacing the 11.4 per cent growth recorded one year prior.This sustained growth is being propelled primarily by the retail lending segment, which has maintained high momentum across various consumer categories. The RBI data highlights specific sectoral performances, showing mixed but...

No Penalty for RHI Promoter as SEBI Finds Insufficient Proof of Insider Trading Allegations SEBI has delivered a significant verdict in the insider trading case against Mr. Raj Kumar Agarwal, promoter of Hi-Tech Chemicals Limited concerning RHI Magnesita India Ltd. (RHI). The Adjudicating Officer concluded that there was insufficient evidence to establish that the noticee traded while in possession of Unpublished Price Sensitive Information (UPSI) related to RHI's proposed acquisition of Dalmia OCL Limited (DOCL), thus disposing of the adjudication proceedings without imposing any monetary penalty.The findings address serious allegations regarding a transaction that involved connections between the promoter and senior management of...

Hindustan Unilever Ltd to Hold Board Meeting to Review Q1 2026 Financial Results Hindustan Unilever Limited has scheduled a meeting of its Board of Directors to review the Unaudited Standalone and Consolidated Financial Results for the quarter ended June 30, 2026. The event is slated for Tuesday, July 28, 2026.The Board Meeting will be held to consider the company’s Unaudited Standalone and Consolidated Financial Results corresponding to the period ending June 30, 2026. Attendees will also review the Limited Review Report of the Auditors for the same quarter.Following the Board Meeting on July 28, 2026, Hindustan Unilever Limited will host an Investors Call. During this session, a presentation regarding the company's Financial...

IKIO Technologies Releases Sustainability Report, Highlights Commitment to Zero Liquid Discharge and Sustainable Manufacturing IKIO Technologies Ltd, specializing in the design and manufacturing of LED lights, has released its Business Responsibility & Sustainability Report (BRSR) for the financial year 2025-26. The report details the company's operational scope, workforce statistics, commitment to environmental standards, and stakeholder engagement practices.The company operates across both national and international markets. Its core business activity is manufacturing and designing LED lights, which accounts for 100% of its turnover. IKIO Technologies serves 20 states nationally and has presence in two countries internationally. The...

Voltamp Transformers Pledges Sustainable Growth, Committing to Net-Zero Goals and Social Impact by 2030 Voltamp Transformers Ltd., a manufacturer of electrical transformers and power solutions, has reinforced its commitment to responsible business conduct, detailing significant progress across environmental stewardship, social responsibility, and ethical governance for the financial year 2025-26. The company outlines how sustainable operations are integrated into its core strategy, aiming to create long-term value while contributing to broader global sustainability priorities.The company’s Board Sustainability Committee oversees the implementation of the Business Responsibility and Sustainability Policies, emphasizing that...

NCLAT Verdict Shatters 'Holy Ganges' Notion: PMLA Proceedings Override Insolvency Moratorium, Sparks Crisis for IBC Creditors The Significance of the NCLAT Ruling in Corporate Distress The National Company Law Appellate Tribunal (NCLAT) has delivered a landmark verdict that significantly alters the landscape of insolvency proceedings under the Insolvency and Bankruptcy Code (IBC). In the case involving Value Wise Consultancy, the tribunal ruled unequivocally that PMLA proceedings take precedence over IBC protections. This ruling directly challenges the notion that the IBC process functions as an absolute remedy for corporate debtors regarding criminal allegations.The tribunal explicitly stated that Parliament did not intend to make...

Maruti Suzuki India Receives Customs Order Over Duty Payment on Imported Goods Maruti Suzuki India Limited has received an Order-In-Original from the Office of the Commissioner of Customs (NS-V, JNCH), Maharashtra, concerning the payment of duties on imported goods.The company was issued the order after alleged contraventions related to the payment of duties on imported items at different rates. The materials detail that Maruti Suzuki must pay a differential duty amount along with a corresponding penalty and applicable interest.According to the details provided, the Order-In-Original was received by the company on 06th July 2026.A summary of the customs order and its implications is provided below:DetailDescription...

Solar Storm Strikes GalaxEye: 'Drishti' Satellite Lost After Disruption, Recovery Hailed As Low Bengaluru-based spacetech startup GalaxEye has confirmed the loss of contact with its maiden earth observation satellite, Mission Drishti. The loss occurred following a geomagnetic solar storm that disrupted the spacecraft during its early operational phase in orbit, the company announced on July 7. Communication with the advanced satellite became intermittent before it was completely lost.GalaxEye stated that while recovery efforts are ongoing, the current assessment indicates that "the likelihood of recovery currently appears low." Initial investigations pointed toward radiation effects from the solar storm impacting a critical onboard...

Sensex and Nifty Snap Four-Day Streak as Late Profit Booking Drains Gains Amid Sector Divergence The Indian stock markets closed on a volatile note on Tuesday, with the benchmark indices snapping their four-day winning streak after witnessing significant profit booking in the latter half of the trading session. Despite opening strongly and extended gains during the initial hours, market sentiment shifted by the close.Key Index Performance and Market Closure Both major indices registered marginal declines as they failed to sustain early momentum. The Sensex fell 104.35 points or 0.13 percent, settling at 78,180.72. Meanwhile, Nifty also ended slightly lower, losing 31.65 points or 0.13 percent and closing at 24,398.70.The broader...

Uno Minda Ltd. Formalizes Promoter Rights and Governance in Shareholders' Agreement Uno Minda Limited (UML) has formalized its shareholder relationship through a Shareholders' Agreement (SHA), executed on 7 July 2026. The agreement involves key members of the promoter group, including Nirmal Kumar Minda, Suman Minda, Pallak Minda, Paridhi Minda, Samaira Jindal, and several associated entities and trusts.The purpose of the SHA is to formally document the existing understanding among the Parties regarding their shareholder rights in UML. The agreement aims to preserve mutual respect, maintain good will amongst family members, and continue harmony within the promoter group related to the company.The Parties involved in the arrangement...

SEBI Closes Case on Unregistered Advisory Firm; SSPFS cleared after investigation finds no evidence of client fraud Regulatory Clarity Achieved as SEBI Disposes Proceedings Against Shree Sai Proficient Financial Services The Securities and Exchange Board of India (SEBI) has officially disposed of proceedings against Shree Sai Proficient Financial Services (SSPFS), proprietor Ms. Madhuri Garg, finding the allegations of unregistered investment advisory activities to be not tenable. The order concludes an extensive investigation initiated in response to complaints regarding promised assured returns to investors.The original charges leveled against SSPFS included providing investment advice without requisite registration and promising...