Markets

Bank Nifty Reclaims 58,000 Mark as Private Banking Giants Ignite Bullish Rally Ahead of Q1 Results The Bank Nifty index surged nearly 1% on July 17, marking a significant recovery as the benchmark reclaimed the 58,000 level. This upward momentum was fueled by heavyweights HDFC Bank and ICICI Bank, both of which saw their shares rise by 1.2% ahead of their June quarter earnings declarations scheduled for July 18.Market participants are closely monitoring the performance of India's top private lenders as they prepare to release quarterly updates. Strong loan growth reported in recent data has bolstered investor confidence, driving the index toward higher valuations despite broader market fluctuations.Heavyweight Momentum and Key Bank...

Aromatic Steel Private Limited Acquires Significant Stake in Nova Iron & Steel Limited Aromatic Steel Private Limited has acquired a substantial stake in Nova Iron & Steel Limited, significantly increasing its ownership and voting rights in the company. The transaction, executed on July 15, 2026, involved an off-market inter-se transfer of equity shares.Prior to this acquisition, Aromatic Steel Private Limited held 3,418,000 shares, representing a 9.46% stake in Nova Iron & Steel Limited. The entity, which belongs to the promoter group, successfully acquired an additional 3,331,000 shares during the transaction.Following the acquisition, Aromatic Steel Private Limited's total holding in Nova Iron & Steel Limited stands at 6,749,000...

PMLA Court Grants ED Permission to Seek Spanish Authorities' Help in Massive Forex Fraud Probe A special court under the Prevention of Money Laundering Act (PMLA) has authorized a Letter of Request to Spain, providing the Enforcement Directorate (ED) with a critical legal gateway to enforce attachment orders abroad.The ruling facilitates the execution of provisional attachment orders and the collection of vital evidence regarding the money laundering probe into the OctaFX Group. The investigation centers on Pavel Aleksandrovich Prozorov, a Russian national currently residing in Barcelona, who is alleged to have controlled the group's operational structure.Judicial Approval for International Legal Assistance The PMLA court approved...

Tata Power to Review Financial Results for Quarter Ended June 30, 2026 Tata Power Company Ltd has scheduled a meeting of its Board of Directors on July 27, 2026, to deliberate on the company's financial performance for the quarter ending June 30, 2026.The board meeting will focus on reviewing both the Audited Financial Results (Standalone) and the Unaudited Consolidated Financial Results of the company. The presentation of these results provides a comprehensive view of the company's operational standing and financial health during the reported period.The company has implemented a trading window closure for its securities starting from June 24, 2026. This window will remain closed until 48 hours after the announcement of the...

Radix Industries (India) Ltd to Convene Board Meeting to Review Quarterly Financial Results Radix Industries (India) Ltd has scheduled a meeting of its Board of Directors on July 24, 2026, to deliberate on the company's operational and financial performance. The meeting will be held at the company's registered office located in Tanuku, West Godavari District, Andhra Pradesh.The primary agenda for this board meeting is to consider and approve the un-audited financial results for the quarter ended June 30, 2026. This session serves as a critical milestone for the company to review its quarterly growth and financial standing.In alignment with internal protocols, the trading window remains closed for all Directors, Officers, Designated...

Dev Accelerator Limited Assigned ACUITE BBB Rating for Proposed Non Convertible Debentures Dev Accelerator Limited (DevX) has been assigned a long-term credit rating of 'ACUITE BBB' with a 'Stable' outlook by Acuite Ratings & Research Limited. The rating pertains to the company's proposed issuance of Non Convertible Debentures (NCD) with a total quantum of Rs. 100.00 crore.The rating agency attributed the score to DevX’s established presence in the managed workspace segment, particularly within Tier-2 cities. The company has demonstrated an improving operating performance and a sizeable growth pipeline. As of March 31, 2026, the company operated across 28 centres in 12 cities with a seating capacity of 13,304 seats.Operational and...

Nilanchal Investments Private Limited Discloses Disposal of Shares in Nova Iron & Steel Limited Nilanchal Investments Private Limited has reported a significant change in its shareholding and voting rights in Nova Iron & Steel Limited following the disposal of equity shares. The transaction was executed on July 15, 2026.The entity, which is identified as part of the promoter group, sold its entire holding of 3,31,000 shares carrying voting rights. Prior to this transaction, Nilanchal Investments Private Limited held a 9.22% stake in the company. Following the disposal, the entity holds NIL shares in Nova Iron & Steel Limited.The transaction was conducted as an off-market inter-se transfer. The total equity share capital and voting...

R K Swamy Ltd Announces 53rd Annual General Meeting and Record Date for Final Dividend R K Swamy Limited has scheduled its 53rd Annual General Meeting (AGM) to take place on Monday, August 17, 2026, at 2:30 P.M. (IST). The meeting will be conducted via Video Conferencing (VC) and Other Audio Visual Means (OAVM) to transact the business outlined in the Notice of the AGM.The company has established Friday, July 31, 2026, as the Record Date to determine member entitlement for the Final Dividend pertaining to the Financial Year 2025-26. This dividend was recommended by the Board of Directors during their meeting held on May 19, 2026.The proposed dividend is set at Rs. 2 per share, representing 40% of the face value of Rs. 5 each...

SMALLCAP World Fund, Inc. Reduces Stake in Ramkrishna Forgings Ltd SMALLCAP World Fund, Inc. has reduced its ownership stake in Ramkrishna Forgings Ltd. following a transaction executed on July 15, 2026. The entity sold a significant portion of its shareholding through the open market.Prior to this transaction, SMALLCAP World Fund, Inc. held 12,698,933 shares carrying voting rights in Ramkrishna Forgings Ltd., representing a 7.0226% stake in the company’s total share and diluted voting capital.The fund sold a total of 4,562,568 shares, which accounted for a 2.5440% reduction in its holding. Following this sale, the investor's position in the company stands at 8,136,365 shares. This represents an ownership stake of 4.4786% in the...

Indobell Insulations Ltd Secures Domestic Order for Nodulated Wool Worth Rs 31,504,000.00 Indobell Insulations Limited has secured a domestic order for the supply of Nodulated Wool from Sundaram Brake Linings Limited. The transaction pertains to a domestic entity and represents a significant contract for the company's product portfolio.The total consideration for the order is valued at Rs 31,504,000.00. According to the agreement details, the payment terms are structured as a direct credit to be processed within 45 days. The company is expected to complete the execution of this contract by March 2028.The contract does not involve any promoter group interests or related party transactions. The details of the order are outlined in the...

Omax Autos Ltd to Review Quarter Ended June 30, 2026 Financial Results Omax Autos Ltd has scheduled a Board Meeting on Friday, July 24, 2026, to review the company's financial performance. The meeting will take place at Plot No.B-26, Institutional Area, Sector-32, Gurugram.The primary agenda for the session is the consideration of the un-audited financial results for the quarter ended June 30, 2026. The company remains focused on its operational reporting for this period.As part of the company's internal protocols, a trading window for dealing in securities by designated persons has been closed starting July 1, 2026. This restriction will remain in effect until 48 hours after the declaration of the un-audited financial results for...

China Stocks Plunge as CXMT IPO Sparks Severe Liquidity Crunch Fears Chinese equity markets faced a brutal sell-off on Friday, pushing benchmark indexes toward their steepest weekly decline in two and a half years. Investors reacted sharply to concerns that the massive debut of memory chipmaker CXMT could drain critical liquidity from the secondary market.The CSI300 Index plummeted 2.5% by the midday break, reaching its lowest level in three months. Meanwhile, the Shanghai Composite Index retreated 1.6%, with both markers poised for their weakest weekly performance since late December 2024.Technology and Semiconductor Giants Lead Market Sell-Off The technology sector bore the heaviest weight of the downward spiral as investors...

Greenply Industries Ltd to Review Quarterly Financial Results in Upcoming Board Meeting Greenply Industries Limited has scheduled a meeting of its Board of Directors to review and approve the company's un-audited financial results for the quarter ended June 30, 2026. The meeting is set to take place on Friday, July 24, 2026.The board will consider the quarterly performance and officially take the financial results on record during this session.Trading Window Update In connection with the upcoming announcement of the financial results, the company has implemented a temporary closure of the trading window for shares of Greenply Industries Limited. The window was closed effective July 1, 2026.The trading window is scheduled to reopen...

Jio Financial Services Shares Surge as Net Profit Skyrockets 156% in Landmark Q1 Performance Jio Financial Services shares witnessed a significant bullish move, trading 3.85% higher at Rs 244.73 following the release of stellar first-quarter results for FY27. The stock had reached a high of 4.56% during the trading session as investors reacted to a massive profit surge.The company reported a 156% year-on-year jump in consolidated net profit, reaching Rs 830 crore compared to Rs 325 crore during the same period last year. This growth signals a robust operational turnaround and strengthening market position for the financial powerhouse.Explosive Revenue Growth and Interest Income Drivers The company's consolidated revenue from...

Polycab India Shares Plunge 4% Despite Record-Breaking Q1 Profit Surge Polycab India shares faced a sharp sell-off on Friday, sliding 4% to hit an intraday low of Rs 8,888 on the BSE. This decline occurred despite the company announcing its strongest-ever first-quarter performance to date.The stock retreated from its previous close of Rs 9,216 even as the firm reported a significant 33% year-on-year (YoY) surge in net profit to Rs 797 crore. This divergence between fundamentals and share price has caught the attention of market observers monitoring the wires and cables giant.Explosive Revenue Growth and EBITDA Expansion The company reported a substantial 39% YoY rise in consolidated revenue, reaching Rs 8,210 crore for the quarter...

Global Infratech & Finance Ltd Appoints New Compliance Officer Global Infratech & Finance Ltd has announced a change in its leadership team regarding the role of Compliance Officer. The company confirmed that Mr. Dhaval Anandkumar Bajaj, who served as the Company Secretary and Compliance Officer, resigned from his position at the close of business on July 16, 2026.In his place, the Board of Directors has appointed Ms. Shruti Ahuja to serve as the new Compliance Officer. The appointment follows a recommendation from the Nomination & Remuneration Committee and is effective as of July 17, 2026.Ms. Shruti Ahuja brings professional qualifications including a B.Com degree and Company Secretary certification. Her membership number is...

NOVA Global Opportunities Fund PCC Acquires Equity Shares in Sobhagya Mercantile Limited Nova Global Opportunities Fund PCC-Touchstone has acquired a significant stake in Sobhagya Mercantile Limited through the conversion of convertible warrants. The transaction, which took place on July 13, 2026, involved the preferential allotment of equity shares to the acquirer.The acquisition resulted in the issuance of 6,50,500 equity shares, each carrying a face value of Rs. 10/-. These shares were allotted at a premium of Rs. 664.49/- per share. The transaction is structured as a preferential allotment following the conversion of convertible warrants held by Nova Global Opportunities Fund PCC-Touchstone.The acquisition significantly impacts...

Time Technoplast Limited Secures Significant LPG Cylinder Order from HPCL Time Technoplast Limited has secured a major contract from Hindustan Petroleum Corporation Limited (HPCL) for the supply of 1,40,000 units of 10 kg Composite LPG Cylinders. The order, received through the Government e-Marketplace (GeM) platform, is valued at approximately R 38.14 crore.The contract pertains to the supply of Type IV Composite LPG Cylinders and is scheduled for execution within a six month period. This order highlights the increasing adoption of composite cylinders by prominent oil marketing companies in India. These cylinders are favored for their lightweight construction, superior safety features, and enhanced consumer convenience.The...

NSE Stock Faces Rare 'Sell' Call as Regulatory Headwinds Loom Ahead of Massive IPO Debut National Stock Exchange of India Ltd. (NSE), the operator of the world’s largest derivatives exchange by trading volume, has received an unexpected ‘sell’ recommendation just as it prepares to launch the country’s largest initial public offering.Dolat Capital Market Pvt. initiated coverage on the stock with a bearish outlook, citing concerns that tightening regulations on the equity derivatives market will significantly crimp trading volumes. The brokerage warns that these regulatory shifts could erode the exchange's market share and leave current high valuations with very little room for future upside.Regulatory Pressures Impacting Market Share...

PNC Infratech Limited Signs Concession Agreements for Two HAM Projects Worth Rs.3483.00 Crore PNC Infratech Limited has announced the execution of concession agreements with the National Highways Authority of India (NHAI) for two Hybrid Annuity Mode (HAM) highway projects in Uttar Pradesh. The agreements were signed on July 16, 2026, involving Special Purpose Vehicles (SPVs) incorporated by the company to implement the projects.The combined bid project cost for these two developments totals Rs. 3483.00 crore. Both projects are situated on the NH-927 section in Uttar Pradesh and fall under the NH(O) Scheme.Project Details and Financial Outlay The following table outlines the specific project names, the respective Special Purpose...