Markets

Renaissance Global Limited Announces Resignation of Senior Management Personnel Renaissance Global Limited has announced the resignation of Mr. Akshay Kumar Sharma from his position as President of the Bridal Division. The resignation became effective at the close of working hours on July 15, 2026.Mr. Sharma, who served as a Senior Management Personnel (SMP) member within the company, decided to step down to pursue personal interests and commitments. In his formal resignation letter, he stated that his departure was intended to allow him to pursue further growth opportunities. He expressed appreciation for the guidance and support provided by the management during his tenure with the organization.The details of the leadership change...

India’s Record FDI Figures Mask Reality as Only 30% Represents New Capital, Reveals Former IMF Official India recorded a record gross Foreign Direct Investment (FDI) inflow in FY26, but the underlying data suggests a complex narrative regarding actual capital injection into the domestic economy. Surjit Bhalla, former Executive Director at the International Monetary Fund (IMF), revealed that only 30 percent of these inflows represented fresh money from overseas.The remaining 70 percent of the gross FDI figure is comprised of retained earnings from foreign companies already operating within India. This shift in data reflects the IMF's revised methodology introduced between 2017 and 2020, which now counts retained earnings as part of the...

Indus Aluminium Recyclers Limited Postpones Board Meeting for Quarterly Results Indus Aluminium Recyclers Limited, formerly known as Containerway International Limited, has announced the postponement of its Board of Directors meeting originally scheduled for July 15, 2026.The meeting was intended to review and approve the company's unaudited financial results for the quarter ended June 30, 2026. Due to unavoidable circumstances, the session did not take place as planned, and no business was transacted during the scheduled proceedings.The company stated that it will provide an update regarding the revised date for the Board Meeting in due course.Stock Price Movement Containerway International Ltd settled at ₹16.31 on Thursday after...

CRISIL Upgrades Credit Rating of Vedanta Limited CRISIL Ratings Limited has upgraded the credit rating of Vedanta Limited, reflecting a positive shift in its financial standing. The rating agency issued the update on July 16, 2026.The rating agency assigned a 'CRISIL AA+' rating to the company's Non-Convertible Debentures (NCDs) and placed them on a 'Stable' outlook. Furthermore, the long-term rating of Vedanta Limited has been upgraded to 'Crisil AA+/Stable', while its short-term rating remains reaffirmed at 'CRISIL A1+'.The following table outlines the transition in the company's credit ratings:Name of the CompanyRatingsPrevious RatingsVedanta LimitedCrisil AA+/Stable / CRISIL A1+CRISIL AA / Watch Developing / CRISIL A1+...

Gland Pharma Receives Customs Order Regarding IGST Demand and Penalties Gland Pharma Limited has received an order from the Customs Authority pertaining to an Integrated Goods and Services Tax (IGST) demand, including interest and penalties, for the financial years 2020-2021 and 2021-2022. The order was issued by the Principal Commissioner of Customs in Hyderabad.The Order-in-Original, dated July 10, 2026, relates to the availment of IGST benefits amounting to INR. 3,52,93,678/- under Notification No. 18/2015-Cus. The authorities have confirmed a demand of INR. 3,52,93,678/- along with applicable interest, and further imposed a penalty of INR. 3,52,93,678/- under the provisions of the Customs Act, 1962.The company received the...

Shivalik Bimetal Controls Limited Receives Consent to Operate for Pune Manufacturing Facility Shivalik Bimetal Controls Limited (SBCL) has secured the Consent to Operate (CTO) from the Maharashtra Pollution Control Board for its manufacturing facility in Pune (Phase-I). The approval is valid until June 30, 2032, and marks a significant milestone in the company's operational strategy for expanding its manufacturing footprint.The authorization enables SBCL to begin the phased operationalization of the Pune site. Commercial production will be scaled according to customer qualifications, specific program schedules, and commercial requirements. This facility is designed to enhance the company’s capabilities in value-added components and...

Unitech Limited Appoints Cost and Statutory Auditors for Upcoming Terms Unitech Limited has announced the re-appointment of its cost auditors and the extension of its statutory auditors during a Board of Directors meeting held on July 16, 2026. The decisions were made following recommendations from the Audit and Risk Management Committee to ensure continued oversight and financial reporting for the company's upcoming fiscal cycles.The Board approved the re-appointment of M/s Pant S. & Associates as the Cost Auditors for the financial year 2026-27. M/s Pant S. & Associates, a prominent Cost and Management Accountancy firm established in April 2012 by Mr. Santosh Pant, maintains a presence across five states including Uttar Pradesh...

Mahan Industries Ltd Committee Recommends Preferential Issue and Change in Control Mahan Industries Limited has received a recommendation from its Committee of Independent Directors regarding a proposed preferential issue of equity shares and convertible warrants. The committee met on July 16, 2026, to deliberate on the proposal, which involves both a significant issuance of capital and a subsequent change in the control of the company.Preferential Issue of Equity Shares The committee recommended the issuance and allotment of up to 3,200,000 fully paid-up equity shares on a preferential basis. These shares carry a face value of ₹10 each and are offered at an issue price of ₹12 per share, which includes a premium of Rs. 2 per share...

Machhar Industries Ltd Announces Financial Results for Quarter Ended June 30, 2026 Machhar Industries Limited has announced its standalone and consolidated unaudited financial results for the quarter ended June 30, 2026. The company confirmed that these financial results were reviewed by the Audit Committee and subsequently approved by the Board of Directors on July 16, 2026.The statutory auditors, M/s. Ashok Majethia & Co., issued a Limited Review Report for both the standalone and consolidated statements. The report confirms that the auditor did not express any modified opinion regarding the financial results for the quarter ending June 30, 2026.Standalone Financial Performance The company reported steady growth in its operational...

Smartlink Holdings Ltd to Review Quarterly Financial Results in Upcoming Board Meeting Smartlink Holdings Ltd has scheduled a meeting of its Board of Directors on July 31, 2026. The primary agenda for the session includes the consideration and approval of the company's un-audited financial results for the quarter ended June 30, 2026.The board will review both the standalone and consolidated financial statements for the period. These figures will provide a comprehensive view of the company's operational performance and financial standing during the second quarter of the fiscal year.Trading Window Status In alignment with the company's internal code of conduct regarding the prevention of insider trading, the trading window for...

Value 360 Communications Limited Announces Resignation of Senior Management Personnel Value 360 Communications Limited has announced the resignation of Mr. Sanket Rege, who served as the Vice President of Capital Market Communications for the company. The leadership change marks a significant transition in the company's senior management team.The official resignation of Mr. Rege was submitted on May 21, 2026. According to the company, the decision to step down was made due to personal reasons. Following the notice period associated with his role, his tenure with the organization is set to conclude on July 16, 2026.The details regarding the leadership change are summarized in the table below:ParticularsDetailsName and...

Ather Energy QIP Sees Massive 8x Demand as Institutional Bids Surpass Rs 10,000 Crore Ather Energy Ltd has witnessed an overwhelming surge in investor interest following the launch of its Qualified Institutional Placement (QIP). The company reported that bids worth over Rs 10,000 crore were received for the Rs 1,300-crore issue, representing more than eight times the total size of the offering.Sources from a leading brokerage indicate that this massive influx of capital stems from some of the largest domestic and foreign institutional investors in the country. This heavy bidding activity underscores a profound appetite among high-profile investors for Ather’s position within the evolving electric vehicle landscape.Institutional...

Dolphin Offshore Enterprises (India) Limited to Review Quarterly Financial Results Dolphin Offshore Enterprises (India) Limited has scheduled a meeting of its Board of Directors on July 24, 2026, to deliberate on the company's financial performance for the quarter ending June 30, 2026.The primary agenda for the board meeting includes the consideration and approval of the un-audited financial results for both Standalone and Consolidated positions. The Board will also review the Limited Review Report provided by the statutory auditors for the same period. Additionally, the meeting will provide a platform to transact any other business with the permission of the Chairperson.The company has maintained its trading window restrictions in...

Poonawalla Fincorp Ltd Allots Equity Shares Under Employee Stock Option Scheme Poonawalla Fincorp Ltd has announced the allotment of 13,506 equity shares as part of the company's Employee Stock Option Schemes. The decision was approved by the Nomination and Remuneration Committee of the Board of Directors on July 16, 2026.The newly allotted equity shares carry a face value of Rs. 2/- each. These shares will rank pari-passu with the existing equity shares of the company in all respects from the date of allotment.Following this issuance, the total issued, subscribed, and paid-up equity share capital of Poonawalla Fincorp Ltd will increase to Rs. 1,761,024,388.00. This represents a total of 880,512,194 equity shares with a face value...

Wipro Announces Quarterly Results for Period Ended June 30, 2026 Wipro Limited has announced its financial results for the quarter ended June 30, 2026, under International Financial Reporting Standards (IFRS). The company reported a steady performance with growth in several key metrics compared to the same period last year.Financial Highlights For the quarter ended June 30, 2026, Wipro reported gross revenue of ₹ 244.8 billion ($2,585.9 million), representing a 10.6% year-on-year increase and a 1.0% increase on a quarter-on-quarter basis. The IT services segment specifically saw revenues of $2,614.5 million, an increase of 1.0% year-on-year.Net income for the period stood at ₹ 33.6 billion ($354.6 million), which is a 0.6% increase...

Hero MotoCorp Expands Global Footprint into Germany With New Distribution Partnership Hero MotoCorp has officially entered the German market, marking its fifth European country and 53rd country globally. The company established a distribution partnership with KSR Group to introduce its Euro 5+ compliant product portfolio, headlined by the XPulse 200 4V series.The expansion marks a significant milestone in the company's global growth strategy. By entering Europe’s largest economy, Hero MotoCorp builds upon its existing presence in Italy, Spain, France, and the UK. The brand aims to provide German riders with precision engineering and high-performance products that offer an accessible ownership experience.To facilitate the rollout...

Polycab India Limited Reports Unaudited Interim Condensed Standalone Financial Results for Quarter Ended June 30, 2026 Polycab India Limited has released its unaudited interim condensed standalone financial statements for the three-month period ended June 30, 2026. The company, a prominent manufacturer of wires and cables and a player in the Fast Moving Electrical Goods (FMEG) space, reported a significant increase in net profit compared to the same period in the previous year.Financial Performance Overview For the quarter ended June 30, 2026, the Company recorded a profit for the period of ₹ 7,662.75 million. This represents a substantial growth from the audited profit of ₹ 5,649.99 million reported for the three-month period ended...

BHEL Reports Massive Turnaround with Rs 376.71 Crore Profit in June Quarter State-owned engineering giant Bharat Heavy Electricals Limited (BHEL) reported a significant financial turnaround for the June quarter, posting a consolidated net profit of Rs 376.71 crore.This performance marks a dramatic recovery compared to the first quarter of the preceding 2025-26 fiscal year, where the company suffered a loss of Rs 455.50 crore.The official exchange filing highlights a major shift in the company's financial trajectory as it navigates a demanding operational landscape.Significant Revenue Growth Fueled by Power Segment Dominance BHEL saw its total income surge to Rs 7,911.86 crore during the April-June period, up significantly from the...

Karamtara Engineering Preps Massive Rs 1,750 Crore IPO Launch as Clean Energy Expansion Accelerates Karamtara Engineering Ltd. is poised to enter the public markets with a significant initial public offering (IPO) scheduled for as early as August. The company, a prominent backward-integrated manufacturer catering to the renewable energy and transmission line sectors, aims to raise up to Rs 1,750 crore.The move comes after the firm successfully secured regulatory approval from the Securities and Exchange Board of India (SEBI) in June 2025. Sources familiar with the matter indicate that the company is currently in the final stages of preparing the public issue for launch.Strategic Breakdown of the Proposed Public Issue The structured...

Elgi Equipments Subsidiary Receives US$ 2.68 Million Tariff Refund Elgi Equipments Ltd has reported that its wholly owned subsidiary, Elgi Compressors USA INC, has secured a tariff refund from U.S. Customs and Border Protection (CBP). The refund amount is US$ 2.68 million, which is approximately equivalent to ₹ 25.6 crores.The refund follows specific directives issued by the US Supreme Court to the US Government. These instructions mandated the refund of excess tariffs that were collected from importers.Entity InvolvedRefund Amount (USD)Refund Amount (INR)Elgi Compressors USA INCUS$ 2.68 million₹ 25.6 croresELGIEQUIP Stock Price Movement Elgi Equipments Limited shares rallied 1.59% today to settle at ₹580.1. The stock saw a...