Markets

Senior Leadership Vacuum at Kotak Mahindra Bank as Commercial Banking Head Manish Kothari Steps Down The outflow of senior executives continues from Kotak Mahindra Bank, with the resignation of Manish Kothari, head of commercial banking business, marking a significant leadership shift at the private lender. The development represents the second high-profile exit this year alone, following the decision by Managing Director and CEO Ashok Vaswani that he would not seek reappointment for a second term.Kothari’s departure is part of a series of executive changes impacting the organization's senior ranks. Earlier this year, Chief Technology Officer Bhavnish Lathia also resigned after citing personal reasons and his move to the United...

CFO of Jolly Plastic Industries Ltd Resigns, Transitions to Non-Executive Director Role Jolly Plastic Industries Limited has announced a change in leadership structure, with Braj Mohan Singh resigning from the position of Chief Financial Officer (CFO). The company confirmed that Mr. Singh, who holds DIN 05229527, tendered his resignation effective from June 12, 2026.The departure from the CFO role was attributed to a change in role within Jolly Plastic Industries Limited. Following this transition, the Board of Directors officially recognized his continued association with the company in a new capacity.According to details provided by the company, Mr. Singh assumed the role of Non-Executive Director effective subsequent to the...

Wage Strike Threatens Cash Availability: Industry Peers Warn Banks and ATMs Face Impact A labor strike involving cash replenishment staff employed by companies such as CMS InfoSystems and Hitachi Payment Services is anticipated to significantly affect cash loading operations, prompting industry players to issue warnings regarding potential shortages at Automated Teller Machines (ATMs) and in public sector banks.The current dispute involves a demand for wage revision among the cash-loading personnel across Delhi, Haryana, and Uttar Pradesh. While the strike is already underway in these northern states, sources suggest that its impact may extend to southern regions, including Karnataka.Industry Impact and ATM Trends Industry observers...

A-1 Ltd Appoints SVRP&CO. as Internal Auditor for Fiscal Year 2026-27 A-1 Ltd has appointed M/s S V R P & CO. as its Internal auditor for the fiscal year 2026-27, following a resolution passed by its Board of Directors on July 14, 2026.The appointment was confirmed during the Board meeting held at the registered office of A-1 Ltd. The company disclosed that S V R P & CO. will serve as the Internal auditor for the specified period.M/s S V R P & CO. is a firm with experience in statutory and tax audits, auditing and assurance services, income tax returns for companies and firms, and internal audit processes. The details of the appointed firm are provided below:ParticularDetailsName of FirmSVRP&CO.FRN152226WAddress85 City...

Ujjivan Small Finance Bank Clarifies Performance-Based Conditions for RSU Plan Ujjivan Small Finance Bank Ltd has issued a detailed clarification to Institutional Investor Advisory Services (IiAS) concerning the Restricted Stock Units (RSU) Plan proposed in its 10th Annual General Meeting notice. The clarification addresses IiAS's concerns regarding the vesting conditions and structure of the incentive scheme for senior leadership.The RSU Scheme-2026, which was put forward for shareholder approval, involves up to 20.0 million RSUs proposed for grant to the senior leadership team. This resolution is noted to result in a 1.0% dilution on the expanded capital base.IiAS had previously questioned the resolution, citing concerns over the...

Ministry Launches Eighth Tranche of Mineral Auction to Secure Critical Resources for Clean Energy Transition The Ministry of Mines is set to launch the Eighth Tranche of its auction for critical and strategic mineral blocks, signaling a massive push towards securing essential resources needed for India's green growth trajectory. The event is scheduled for July 15, 2026, with Union Minister Shri G. Kishan Reddy unveiling the tranche in New Delhi.Critical Minerals Portfolio Details Eighth Auction Tranche This eighth auction tranche includes twenty critical and strategic mineral blocks distributed across nine states. A key aspect of this tranche is that it offers seven previously auctioned blocks under a second attempt. The diverse...

Surat Trade and Mercantile Ltd to Hold EGM on August 10 Amid Key Appointments and Approvals Surat Trade and Mercantile Ltd announced several significant corporate actions as it prepares for its First Extra-Ordinary General Meeting (EGM) of the Financial Year 2026-27. The EGM is scheduled to take place on Monday, August 10, 2026, utilizing Video Conferencing (VC) or Other Audio Visual Means (OAVM).The company set July 18, 2026, as the cut-off date for shareholder participation in the EGM.A key administrative appointment disclosed is the selection of Mr. Jigar Vyas, from Jigar Vyas & Associates, a Company Secretary in Practice based in Surat, to serve as Scrutinizer for the e-voting and remote e-voting processes at the meeting...

Syngene International Announces Change in Senior Management Personnel Syngene International Limited has announced a change regarding its senior management personnel. Mr. Surender Sharma, who serves as General Counsel and is a member of the Executive Committee, will be leaving the company.The departure of Mr. Sharma was effective from close of business hours on July 15, 2026. The decision to part ways was reached through mutual consent.Details regarding the personnel change, including his former role and the reason for his exit, are as follows:ParticularsDetailsPersonnel NameSurender SharmaRoleGeneral Counsel and Executive Committee Member (Senior Management Personnel)Effective Date of DepartureJuly 15, 2026Reason for...

Action Construction Equipment Limited to Host Conference Call Following Q1 FY27 Results Announcement Action Construction Equipment Limited has scheduled a conference call meeting following the announcement of its Q1 FY27 results. The event is set for Tuesday, July 21, 2026, at 4:00 PM IST.The company's financial performance details will be discussed during the conference call, which is being hosted by Anand Rathi Research. Key participants from Action Construction Equipment Limited who are scheduled to attend include Mr. Sorab Agarwal, Executive Director; Mr. Rajan Luthra, Chief Financial Officer; and Mr. Vyom Agarwal, President.The conference call aims to provide stakeholders with information regarding the results announced on July...

Lancer Container Lines Receives In-Principle Approval for Preferential Issue Against Unsecured Loan Conversion Lancer Container Lines Ltd has secured in-principle approval from BSE Limited for a preferential allotment of equity shares. The move involves issuing 18,518,518 equity shares against the conversion of an unsecured loan.The approval details relate to the issuance of 1,85,18,518 equity shares of Lancer Container Lines Ltd to the Promoter. These shares are set at a face value of Rs. 5/- each and require a price not less than Rs. 10.80/- per equity share. The preferential issue is tied to the conversion of an unsecured loan totaling Rs. 20,00,00,000/-.The in-principle approval was granted by BSE Limited concerning this...

Logiciel Solutions Ltd Approves Wholly-Owned US Subsidiary and Strengthens Leadership in IT Services Sector Logiciel Solutions Ltd announced several key strategic moves following its Board of Directors meeting on July 14, 2026. The approved initiatives include making a US entity a wholly owned subsidiary, appointing senior leadership in sales and healthcare practice, and establishing a dedicated AI Research & Development Practice to drive future growth.The investment in the new US subsidiary is aimed at enhancing Logiciel Solutions' presence within the North American market and supporting its expansion in IT Services and IT Staffing business.Investment in US Subsidiary Logiciel Solutions Ltd has approved an investment intended to...

Board Approves Reclassification of Promoters to Public Category for Sanathnagar Enterprises Limited The Board of Directors of Sanathnagar Enterprises Limited has approved the reclassification of three members of the Promoter and Promoter Group—Mr. N.P.S. Shinh, Ms. Manita Shinh, and Continuous Forms (Calcutta) Limited—to the Public category. This decision follows their applications requesting a change in status from promoter to public shareholder.The Board meeting, held on July 14, 2026, considered the requests from the individuals and the company. The outgoing Promoters collectively hold 72,090 equity shares of the Company, representing 2.28% of the paid-up equity share capital.According to details provided by the Board, the...

Yasho Industries Announces Record Date for Final Dividend of Rs 0.50 Per Share Yasho Industries Limited has set the record date for its FY 2025-26 Final Dividend following a recommendation by its Board of Directors.The company announced that it has recommended a final dividend amounting to Rs 0.50 per share. This determination was made subsequent to earlier information provided by the Company on May 18, 2026.For the purpose of the Final Dividend distribution for Fiscal Year 2025-26, the record date is scheduled for Thursday, July 30, 2026. Once the dividend is approved by members during the ensuing Annual General Meeting (AGM), the payment is slated to be disbursed within 30 days of the approval date.The company also clarified the...

Shriram Finance Ltd to Hold Board Meeting on July 24, 2026, to Review Q1 Results and Plan Future Financing Shriram Finance Ltd has announced that its Board of Directors will convene a meeting on Friday, July 24, 2026. The meeting agenda includes the approval of Unaudited Standalone and Consolidated Financial Results for the first quarter ended June 30, 2026.In addition to reviewing the quarterly financial performance, the company is scheduled to consider the periodical resource mobilization plan. This plan pertains to various methods of borrowing intended for the business of Shriram Finance Ltd.The proposed financing plans include issuing debt securities such as redeemable non-convertible debentures (NCDs) and subordinated...

63 Moons Technologies Ltd's WOS Acquires Equity Shares in Ticker Limited Financial Technologies Singapore Pte Ltd., the Wholly Owned Subsidiary (WOS) of 63 Moons Technologies limited, has completed the acquisition of equity shares in Ticker Limited. The purchase was finalized on July 13, 2026, for a consideration of Rs. 21.49 crores.The WOS acquired 79,58,300 equity shares through the secondary market in the unlisted subsidiary, Ticker Limited. This transaction represents an investment by the Wholly Owned Subsidiary and was executed using cash consideration. The acquisition means that the company now holds a 0.45% shareholding of the paid-up capital of the Target Company.Ticker Limited is described as a public company incorporated...

Sobha Ltd Board Meeting Scheduled to Discuss Q1 Financial Results and Non-Convertible Debenture IssueSobha Ltd has announced that its Board of Directors meeting is scheduled for Monday, July 20, 2026, at the company's corporate office. The meeting is set to review several key items, including the unaudited financial performance of the company for the quarter ending June 30, 2026.The agenda includes considering and approving the Unaudited Standalone and Consolidated Financial Results for the period. Additionally, the board will address the issuance of non-convertible debentures (NCDs) through private placement in one or more tranches, based on business requirements.In a related operational update concerning internal trading...

Jindal Saw Profit Plummets 75% Amid Export Woes and Global Supply Chain Disruptions Jindal Saw reported a significant decline in its consolidated net profit for the first quarter of FY27, reflecting severe operational headwinds and challenges across its global business segments. The company's consolidated net profit fell by 75.47 percent to Rs 104 crore for the June quarter. This marks a stark contrast from the corresponding period last year when the company posted a consolidated net profit of Rs 424 crore.Net Profit Decline Despite Revenue Growth While the profitability saw a steep contraction, Jindal Saw managed to register a rise in revenue from operations during the April-June period. The total operating revenue climbed by 9...

Steel Exports poised to Hit $1 Billion Mark as India Secures Favorable UK Quota Deals Indian steel exporters are set for a significant boost in trade with the United Kingdom. New Delhi has successfully negotiated improved quotas under the UK's tariff-rate quota (TRQ) system, suggesting that Indian exports could reach $1 billion by FY27. This development comes as India strengthens its market access following recent negotiations with the British trading partner.Securing Advantage in UK Steel Quota Negotiations A senior government official confirmed that despite the UK’s stricter steel import regulations, India has secured substantially better quotas compared to the average export value. The existing quota for India amounts to about $350...

IBM Plunges Over 23% on Earnings Slump; Tech Stocks Tumble Amid Hawkish Fed Warnings The global technology sector experienced significant turbulence in pre-market trading after key indicators pointed toward deep operational concerns and rising interest rate fears. IBM stock saw a massive decline, erasing substantial market capitalization as the company posted weaker-than-expected earnings related to its software and infrastructure business.Tech Giants Suffer Massive Declines Following IBM’s Stock Collapse IBM shares plummeted 23% in pre-market trading on the NYSE after revealing weakness across its core businesses. This single event caused the stock to erase $55 billion in market capitalization, sending shockwaves through the...

Panchmahal Steel Reports Outcomes of Tax Appeals Regarding Input Tax Credit Disallowance Panchmahal Steel Ltd has received orders from the Deputy Commissioner of State Tax, Appeal-5 in Vadodara concerning appeals related to the disallowance of Input Tax Credit under Sections 73 and 74 of the CGST/SGST Act, 2017. Both orders were received by the company on July 13, 2026.The disputes relate to the disallowance of Input Tax Credit during a specified tax period spanning from July 1, 2017, to March 31, 2018. The outcomes for the two appeals are detailed below.Appeal Outcomes and Financial Details The company's appeal against an order issued under Section 73 of the CGST/SGST Act, 2017 was partially allowed by the authority. Separately, a...