Markets

MITCON Consultancy & Engineering Services Limited Announces Incorporation of New Step-Down Subsidiary for Power Trading MITCON Consultancy & Engineering Services Limited has announced the incorporation of a new wholly owned subsidiary, MITCON Power Trading Limited. The entity is being established to facilitate business expansion within the power trading sector.The new entity is a step-down subsidiary of MITCON Consultancy & Engineering Services Limited. It was incorporated by MITCON Sun Power Limited, which is a wholly owned subsidiary of the ultimate holding company. This strategic move is intended to drive growth for the parent group by expanding its operational footprint in power trading.MITCON Power Trading Limited was...

Torrent Pharmaceuticals Limited Announces Dissolution of Philippines Subsidiary Torrent Pharmaceuticals Limited has announced the voluntary dissolution of its wholly owned subsidiary, Curatio Inc., which is domiciled in the Philippines. The dissolution became effective as of July 10, 2026.The company received formal communication regarding the dissolution on July 17, 2026. The entity was dissolved through a shortening of the term of existence via an amendment in the Articles of Incorporation.Financial Contribution and Scale During the financial year ending March 31, 2026, Curatio Inc. contributed a negligible amount to the consolidated figures of the company. The subsidiary reported zero turnover for the period. Regarding net worth...

United Heat Transfer Limited Receives Show Cause Notice from GST Department United Heat Transfer Limited has received a Show Cause Notice (SCN) from the State Tax Officer of the Department of Goods and Services Tax, Government of Maharashtra. The notice pertains to the fiscal year 2025-26 and was received by the company on July 17, 2026, via email at approximately 9:50 a.m.The communication from the GST Authority involves a proposal to block Input Tax Credit (ITC) under Rule 86A of the CGST/MGST Rules, 2017. The notice specifically addresses ITC amounting to Rs. 2,75,412/- for the fiscal year 2025-26, which the authority has deemed inadmissible.According to the details provided in the notice, the issuance is based on allegations...

Dr. Lal PathLabs Limited Secures Favorable Appellate Order from Income Tax Department Dr. Lal PathLabs Limited has received a favorable appellate order from the Income Tax Department regarding an assessment order dated March 31, 2024. The company received the formal communication on July 17, 2026, following the filing of an appeal against the initial assessment.The Commissioner of Income Tax (Appeals) issued the appellate order under section 250 of the Income Tax Act, 1961. The ruling is in favor of the company, successfully upholding the company's position on specific tax deductions.Key Details of the Appellate Order The successful appeal pertains to the deduction claimed by the company regarding Employee Stock Option Plan (ESOP)...

Anupam Rasayan India Limited Acquires 100% Stake in Mates Visa Consultancy Private Limited Anupam Rasayan India Limited has completed the acquisition of 1,000 equity shares in Mates Visa Consultancy Private Limited, making the entity a wholly-owned subsidiary of the company. The transaction, finalized on July 17, 2026, involved the purchase of 100% of the paid-up equity share capital of the target company.The acquisition was executed through Form SH-4 with the sellers and is part of a broader group restructuring exercise aimed at structurally rationalizing the company's investments. Notably, the acquired entity will serve as a person acting in concert (PAC) with Anupam Rasayan India Limited for the proposed acquisition of equity...

Torrent Pharmaceuticals Receives ESG Ratings from Crisil ESG Ratings and Analytics Torrent Pharmaceuticals Limited has received independent environmental, social, and governance (ESG) ratings from Crisil ESG Ratings and Analytics Limited.The ratings were assigned to evaluate the company's ESG performance. Under the assessment, the company secured a rating of 'Crisil ESG 66' and a Core ESG rating of 'Crisil Core ESG 74'.The evaluation was conducted independently by Crisil ESG Ratings, which is a SEBI registered ESG Rating Provider.TORNTPHARM Stock Price Movement Torrent Pharmaceuticals Limited shares tumbled 4.82% on Friday to settle at ₹4,763.00. The stock saw a significant sell-off during the session, with 1.40 million shares...

Dr. Lal PathLabs Receives Favorable Appellate Order from Income Tax Department Dr. Lal PathLabs Limited has received a favorable appellate order from the Income Tax Department regarding an assessment order dated March 31, 2024. The company received the appellate order on July 17, 2026, which was issued by the Commissioner of Income Tax (Appeals).The appellate order, dated July 16, 2026, follows an appeal filed by the company against the initial assessment. The authority ruled in favor of the company, allowing a deduction claimed on account of ESOP Expenses.Key Details of the Appellate OrderParticularsDetailsName of the authorityCommissioner of Income Tax (Appeals), Income Tax DepartmentNature and details of the action(s)...

DCM Shriram Limited Signs Agreement with Serentica Renewables for 58 MW Renewable Power Project DCM Shriram Limited has entered into a definitive agreement with Serentica Renewables India 38 Private Limited to develop a 58 MW peak hybrid renewable energy power project. The project is primarily intended to support the company's energy-intensive operations at its Bharuch facility in Gujarat.Upon completion, this initiative will increase DCM Shriram’s total renewable energy capacity to 176 MW (peak) across its two sites in Bharuch and Kota. The project is expected to be commissioned by June 2027.Under the terms of the agreement, DCM Shriram Limited will invest up to Rs. 105 crores in one or more tranches to acquire a minimum 26% equity...

Oberoi Realty Announces Strong Growth in Q1FY27 Financial Results Oberoi Realty Limited has announced its financial results for the first quarter of FY27, showcasing significant growth across its consolidated revenue and profit metrics compared to the same period in the previous fiscal year.The company reported a Consolidated Revenue of Rs. 1,361.69 crore for Q1FY27, showing an increase over the Rs. 1,073.98 crore recorded in Q1FY26. The growth is reflected in the company's Profit Before Tax (PBT) and Profit After Tax (PAT) figures as well.Financial Performance Overview The following table outlines the consolidated financial performance of Oberoi Realty Limited for the first quarter:MetricQ1FY27Q1FY26RevenueRs. 1,361.69...

SEBI Overhauls Mutual Fund Transmission Process to Simplify Claims for Families of Deceased Investors The Securities and Exchange Board of India (SEBI) has announced a significant regulatory shift aimed at simplifying the process for claiming mutual fund units and proceeds following the death of a unit holder.This initiative serves as an investor-friendly measure to mitigate operational challenges that families often face during the transmission process. SEBI has directed the Association of Mutual Funds in India (AMFI) to streamline standards specifically to protect and safeguard investor interests.The updated guidelines ensure that the transition of assets is handled with greater ease while maintaining regulatory integrity. These...

Dr. Lal PathLabs Receives Favorable Appellate Order Regarding ESOP Expenses Dr. Lal PathLabs Limited has received a favorable appellate order from the Income Tax Department regarding an assessment order issued on March 31, 2024. The decision follows an appeal filed by the company against the original assessment.On July 17, 2026, the company received the appellate order dated July 16, 2026, from the Commissioner of Income Tax (Appeals). The authority has allowed the company's appeal and decided the matter in its favor.The favorable ruling pertains to the deduction claimed on account of Employee Stock Option Plan (ESOP) expenses. The appellate order confirms that a deduction of INR 32,66,18,927 is allowed for the company.The details...

DCM Shriram Limited Enters Agreement with Serentica Renewables for 58 MW Power Project DCM Shriram Limited has entered into a definitive agreement with Serentica Renewables India 38 Private Limited to develop a 58 MW peak hybrid renewable energy power project. The initiative is primarily aimed at supporting the company's energy-intensive operations in Bharuch, Gujarat.Upon the completion of this project, DCM Shriram’s total renewable energy capacity will reach 176 MW (peak) across its facilities in Bharuch and Kota. The project is scheduled for commissioning by June 30, 2027.Investment and Ownership Structure The company will invest up to Rs. 105 crore in one or more tranches to acquire a minimum 26% equity stake in Serentica...

Hindustan Oil Exploration Company Limited Receives Tax Penalties for IGST Non-Payment Hindustan Oil Exploration Company Limited has received two separate orders from the State Tax Officer, (Legal & Adjudication), Chengalpattu Intelligence Division, Chengalpattu, involving penalties related to the non-payment of Integrated Goods and Services Tax (IGST) under the Reverse Charge Mechanism.The issues pertain to legal services received by the company from outside India during specific financial periods. The company has stated that the financial implications of these orders are not material and do not impact its financial position or ongoing operations.Penalty Details and Order Timelines The company received two distinct orders involving...

Absolute Projects Secures SEBI Nod for IPO as EPC Firm Eyes Massive Expansion Absolute Projects (India) has officially received the green light from the Securities and Exchange Board of India (SEBI) to launch its initial public offering. The engineering, procurement, and construction (EPC) specialist is now cleared to move forward with its debut listing on Indian capital markets.The approval follows a meticulous review process that began after the company filed its draft red herring prospectus (DRHP) in March 2026. With SEBI's observations finalized on July 17, the Noida-based firm is now positioned to file the formal red herring prospectus (RHP) with the Registrar of Companies.IPO Structure and Listing Strategy The upcoming public...

Jio Platforms Profit Surges 9% to Rs 7,764 Crore as ARPU Hits Rs 215.6 Ahead of Massive IPO Jio Platforms, the telecom and digital services powerhouse under Reliance Industries (RIL), reported a significant financial turnaround for the April-June quarter of FY27. The company saw its net profit climb 9% year-on-year to reach Rs 7,764 crore, up from Rs 7,110 crore during the same period last year.This growth comes at a pivotal moment as the telecom giant prepares for one of India's largest-ever initial public offerings (IPOs). The company demonstrated robust operational strength with revenue from operations jumping nearly 12% year-on-year to Rs 39,173 crore.Robust EBITDA Expansion and Margin Gains The company’s EBITDA witnessed a...

Wall Street Plummets as Chip Selloff Triggers Broad Risk-Off Sentiment Wall Street extended its decline on Friday as a pullback on stocks associated with the AI boom morphed into a broader risk-off sentiment. Semiconductor shares initially spearheaded the selloff before the downward pressure spread across the wider market.All three major U.S. stock indexes closed lower for the day and posted weekly losses. The Philadelphia SE Semiconductor Index endured its steepest weekly loss in over a year, having tumbled nearly 18% so far in July.Despite this recent volatility, the index remains up approximately 65% year-to-date. This significantly outpaces the S&P 500, which has seen a nearly 9% gain over the same period.Chip Fatigue and AI...

NLC India Renewables Sets Stage for IPO as SBI Capital, HDFC Bank Join Book Runner Lineup NLC India Renewables Ltd (NIRL), a subsidiary of the state-owned powerhouse NLC India, has officially appointed four prominent investment banks to lead its upcoming initial public offering.The appointment includes heavyweights SBI Capital Markets and HDFC Bank as book running lead managers for the high-profile listing.To complete the quartet, NIRL selected IIFL Capital Services and IDBI Capital Markets & Securities following a board-approved, structured, and competitive selection process.Strategic Growth and India's Clean Energy Mandate The proposed IPO is designed to fortify the capital base of NIRL while fueling its long-term growth...

DIIs Propel Markets as Net Inflows Hit ₹1,018 Crore Amid Cooling FII Selling Spree Domestic institutional investors (DIIs) acted as a critical pillar of support for Indian equities on July 17, injecting significant liquidity into the domestic markets. According to provisional exchange data, DIIs purchased shares worth ₹1,017.89 crore during the session.This steady domestic buying came at a time when foreign institutional investors (FIIs) continued their streak as net sellers. FIIs offloaded equities worth ₹376.41 crore during the trading period, maintaining a cautious stance on Indian indices.Analysis of Institutional Trading Dynamics and Flow Trends The sheer scale of domestic participation was evident in the underlying transaction...

NLC India Renewables IPO Gains Momentum as SBI Capital and HDFC Bank Join Book Running Lineup State-owned enterprise NLC India has officially appointed a powerhouse quartet of investment banks to lead the book running process for its subsidiary, NLC India Renewables Ltd (NIRL), as it prepares for an initial public offering.The high-profile appointments include SBI Capital Markets and HDFC Bank, alongside IIFL Capital Services and IDBI Capital Markets & Securities. These firms were selected following a structured and competitive board-approved process to manage the upcoming listing of NIRL's equity shares on recognized Indian stock exchanges.Strategic Strengthening of Capital Base for Renewable Growth The proposed IPO is designed to...

Damodar Industries Limited to Hold 38th Annual General Meeting on August 8, 2026 Damodar Industries Limited has announced that its 38th Annual General Meeting (AGM) is scheduled to take place on Saturday, August 08, 2026. The meeting will commence at 11:30 A.M. (IST) and will be conducted through Video Conferencing (VC) facilities and other Audio Visual Means (OAVM).The company has initiated a communication process to reach shareholders who do not have registered email addresses with the Company, Registrar & Transfer Agent (RTA), or Depository Participants. This initiative ensures that all members can access essential corporate information, specifically the Annual Report for the Financial Year 2025-26.The Annual Report and related...