Markets

RBI Imposes ₹10 Lakh Monetary Penalty on Ashok Sahakari Bank Over Director Loan Violation The Reserve Bank of India (RBI) has imposed a significant monetary penalty on Ashok Sahakari Bank Ltd., Ahmednagar, Maharashtra. The fine, amounting to ₹10 lakh (Rupees Ten Lakh only), was levied for failure to adhere to the provisions of Section 20(1) of the Banking Regulation Act, 1949.The action, formalized in an order dated June 29, 2026, comes as part of the RBI's continuous supervisory oversight of financial institutions nationwide. The penalty was imposed by the central bank under powers granted to it by Section 47A(1)(c) and related sections of the BR Act, 1949.Basis for Regulatory Action Against Bank The imposition of the monetary...

Transformers and Rectifiers Announces Board Meeting and Opening of Trading Window Transformers and Rectifiers (India) Ltd has announced details regarding an upcoming Board of Directors meeting, along with the opening of the trading window for its securities. The company is scheduled to hold the Board meeting to consider and approve its financial results for the recently completed quarter.The Board Meeting of Transformers and Rectifiers is set to take place on Monday, July 20, 2026. During the meeting, the management will review and approve the Unaudited Standalone and Consolidated Financial Results of the company, corresponding to the quarter that ended on June 30, 2026.In addition to the board deliberation, the trading window for...

SBI Funds Management IPO Opens Tomorrow: GMP Signals Massive Surge as Retailers Target Listing Gain SBI Funds Management, a leader in India's asset management sector, is set to launch its Initial Public Offering (IPO) on Tuesday, July 14. The issue, with an offering size totaling approximately ₹9,813 crore, marks a significant step toward greater market transparency for the company.The IPO is structured entirely as an Offer for Sale (OFS), meaning the funds raised are intended to facilitate existing shareholders offloading a portion of their stake. This offering allows both promoters, State Bank of India and Amundi India Holding, to divest their holdings in this major financial institution. The subscription window is slated to close...

Orissa Bengal Carrier Limited Changes Name To OBCL Limited Orissa Bengal Carrier Limited will undergo a name change, effective from July 17, 2026. The company's existing name, Orissa Bengal Carrier Limited, will be replaced by the new identity, OBCL Limited.The stock trading under the symbol OBCL will reflect this corporate name update starting on the specified date.Details of the name change are as follows:SymbolExisting NameNew NameOBCLOrissa Bengal Carrier LimitedOBCL LimitedThe name transition is scheduled to be effective from July 17, 2026.OBCL Stock Price Movement Orissa Bengal Carrier Limited shares edged higher by 0.41% today, settling at ₹53.62 in the close trade. The stock was traded on a volume of 10,842...

Ratnabhumi Developers Ltd Announces Board Meeting for Financial Year 2025-26 Matters Ratnabhumi Developers Limited has scheduled a meeting of its Board of Directors to address key corporate matters. The meeting is set to take place on Saturday, July 18, 2026.The Board of Directors will convene to discuss several important items related to the company's operations and future planning. A primary focus of the meeting will be reviewing and discussing all aspects relating to the 20th Annual General Meeting (AGM). This AGM pertains to the Financial Year 2025-26.In addition to the matters concerning the upcoming annual general body, the directors will also have an opportunity to consider and discuss any other business that may be decided...

ARC Insulation & Insulators Limited Announces Resignation of Company Secretary and Compliance Officer ARC Insulation & Insulators Limited has announced that Ms. Esha Sen has resigned from her position as Company Secretary cum Compliance Officer. The decision stems from unavoidable personal circumstances, effective immediately.Ms. Sen tendered her resignation on July 13, 2026, stating that the personal circumstances prevented her from continuing to discharge her duties and responsibilities in the role. Her tenure concluded with effect from close of business hours on July 13, 2026.The change involves a senior management position within the company structure. Key details regarding Ms. Sen's resignation are as follows...

Bharat Electronics Limited Secures Orders Worth Rs 572 Crore Navratna Defence Public Sector Undertaking, Bharat Electronics Limited (BEL), has secured additional orders totaling Rs 572 Crore. This business development represents orders received since the last disclosure made on June 22, 2026.As a Govt of India Enterprise under the Ministry of Defence, BEL’s continuous contract wins highlight its standing in the defence sector. The significant order intake includes diverse products and services related to critical national security needs.The secured orders encompass various components, upgrades, and services. Key areas include communication equipment, avionics, encryptors, tank subsystems, EVM (Electronic Warfare Measures)...

Director Resigns from Tamilnadu Petroproducts Ltd Following Withdrawal of Nomination by TIDCO Tamilnadu Petroproducts Ltd has announced a change in its board composition following the resignation of Ms. Sandhya Venugopal Sharma, who held the position of Chairperson and Non-Executive & Non-Independent Director.The resignation was necessitated by the withdrawal of her nomination from Tamilnadu Industrial Development Corporation Limited (TIDCO), the entity that had nominated her to the company's board.Ms. Sandhya Venugopal Sharma tendered her resignation as Chairperson and Director, expressing gratitude to all Board members for the cooperation extended during her tenure with Tamilnadu Petroproducts Ltd. The effective date of her...

Gandhar Oil Refinery JD Invited for TV Interview on NDTV Profit to Discuss Small Cap Buzzers Gandhar Oil Refinery (India) Ltd has announced that Mr. Aslesh Parekh, the company's Joint Managing Director, has been invited to participate in a televised interview session. The exclusive discussion is set to take place on NDTV Profit under the theme of "The Small Cap Buzzers."The planned interaction aims to provide insights into the company and the broader context of small-cap stocks. Gandhar Oil Refinery confirmed that the scheduled discussion will be based entirely on publicly available information. During the interview, the management has assured that no unpublished price sensitive information (UPSI) will be shared.The details...

IFGL Refractories Limited Incorporates Subsidiary in Saudi Arabia IFGL Refractories Limited has established a new presence in the Middle East, having incorporated a subsidiary in Saudi Arabia. The company introduced the entity, IFGL Monocon Saudi Company Limited, which was incorporated in Saudi Arabia on July 11, 2026.The new venture falls within the Refractory Industry and is dedicated to trading activities. Its scope of business includes the buying and selling of Refractories along with ancillary products and services. The incorporation process involved no governmental or regulatory approvals being required for the entity's setup.IFGL Refractories Limited holds a controlling stake in the new subsidiary, having secured 100%...

Oasis Securities Ltd Completes Rights Issue Share Allotment, Reaching New Equity CapitalizationOasis Securities Ltd has approved and completed the allotment of equity shares consequent to its Rights Issue. The company allotted 27,750,000 fully paid-up equity shares with a face value of Re. 1.00/- each, based on a rights ratio of 3:2.The shares were issued at a price of Rs. 10.00/- per share to eligible shareholders, following the terms outlined in the Letter of Offer dated June 18, 2026.Following this allotment, Oasis Securities Ltd confirmed that its post paid-up equity share capital has been updated with the infusion of capital from the issue. The financial structure details are presented below:ParticularsNo. of SharesAmount...

Sobhagya Mercantile Ltd Allots 6,50,500 Equity Shares via Convertible Warrant Conversion Sobhagya Mercantile Limited has completed an allotment of equity shares through the conversion of convertible warrants. The Board of Directors confirmed the approval of the issue, which resulted in a significant increase in the company's paid-up capital.The allotment involved 6,50,500 Equity Shares of Face Value Rs. 10/- each to a non-promoter investor. The shares were allotted at an Issue Price of Rs. 674.49/- per share, which includes the face value and a premium of Rs. 664.49/- per equity share.The conversion process saw the company receive Rs. 32,90,66,808.75/- from the allottee. The warrants were converted at an exercise price of Rs...

Mercantile Ventures Limited Announces Record Date for Share Allocation in Amalgamation The board of Mercantile Ventures Limited has set the record date for determining eligible shareholders of India Radiators Limited concerning an ongoing scheme of amalgamation. This process determines which equity shares of the transferee company, Mercantile Ventures Limited, will be allotted to the shareholders of the transferor company, India Radiators Limited.Mercantile Ventures Limited specified that the record date for this purpose is Friday, July 24, 2026. Shareholders and creditors of both companies are affected by the terms outlined in the scheme.The allocation details pertain to equity securities, with Mercantile Ventures Ltd's security...

Inter-Bank Forex Activity Surges: RBI Data Reveals Robust Market Depth in Global Currency Trades The Reserve Bank of India (RBI) has released critical data detailing Foreign Exchange Turnover for the week spanning June 15, 2026, through June 19, 2026. This comprehensive report provides a granular look at both merchant and institutional foreign exchange transactions across various derivatives markets. The daily figures highlight significant volume in inter-bank trades, offering key insights into global currency market health and corporate forex exposure.Dynamics of Merchant Foreign Exchange Transactions Merchant trading reflects the activity of businesses engaged in international trade and related financial activities. The data...

Bharat Electronics Ltd to hold Board Meeting to Approve Unaudited Financial Results for Quarter Ended June 30, 2026 Bharat Electronics Limited (BEL), a Government of India Enterprise operating under the Ministry of Defence, has scheduled its Board of Directors meeting to consider and approve the Unaudited Standalone and Consolidated Financial Results for the quarter ending June 30, 2026.The meeting is set to be held on Monday, July 27, 2026.This board deliberation will cover the financial performance metrics for BEL for the specified period. The company’s results are expected to provide insight into its operational status during that quarter.BEL Stock Price Movement Bharat Electronics Limited shares slipped today, closing at...

Kritika Wires Limited Approves Board Report and Schedules 22nd Annual General Meeting Kritika Wires Limited announced key outcomes following its Board meeting held on July 13, 2026. The board transacted several important business matters related to corporate governance, including approving the financial results for the previous year and setting logistics for the upcoming annual general body meeting (AGM).During the meeting, the directors approved the Board's Report along with all annexures pertaining to the Financial Year ended March 31, 2026. Furthermore, M/s. M. Kumar Jain & Co., Chartered Accountants, were re-appointed as the Internal Auditors of the Company for the Financial Year 2026-27.A major focus of the meeting was the...

Merchant and Inter Bank FX Trades Surge as RBI Releases Daily Turnover Data The Reserve Bank of India (RBI) has released comprehensive Foreign Exchange Turnover data covering the period from June 01, 2026, to June 05, 2026. This dataset provides a detailed look into both merchant and inter-bank transactions in foreign exchange markets.All figures presented are denominated in USD Millions. The report offers insights into the dual-layered FX market, detailing daily purchases across various transaction types.Merchant Foreign Exchange Market Performance The data highlights significant activity within the merchant segment, which involves FCY/INR (foreign currency to domestic rupee) and FCY/FCY transactions. Transactions cover Spot...

Indo-National Limited Invests Rs 74,90,808 in MMSPL, Boosting Stake to 60.34% Indo-National Limited has committed an additional investment of Rs 74,90,808 into Medcuore Medical Solutions Private Ltd (MMSPL). The strategic capital infusion enables the company to expand its business operations and aims to drive growth and profitability in the industry segment focused on air quality solutions.The investment represents the acquisition of 453 shares, contributing an additional 1.18% equity stake in MMSPL. Following this transaction, Indo-National Limited's total shareholding in MMSPL stands at 60.34%. The investment was made through cash consideration, and the price per share was determined based on a valuation report from a registered...

Geojit Financial Services to Hold Board Meeting Regarding Q1 Results; Insider Trading Window Closed Geojit Financial Services Ltd announced that its Board of Directors is scheduled to convene a meeting to review the un-audited financial results for the quarter ended June 30, 2026. The proposed board meeting is set for Wednesday, July 22, 2026, and will be held in Kochi.The company also provided an update regarding its insider trading protocol, confirming that the trading window for dealing in the securities of Geojit Financial Services Ltd has been closed. This restriction became effective from July 1, 2026.Geojit stated that the trading closure will remain in effect until a period of 48 hours following the dissemination of the...

NFP Sampoorna Foods Limited Confirms Non-Applicability of Certain Corporate Governance Rules Due to SME Listing Status NFP Sampoorna Foods Limited has confirmed that certain corporate governance provisions do not apply to the company, based on its status as a listed entity on an SME platform. The assessment relates specifically to Regulation 27 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.The company's equity shares are listed on the NSE Emerge Platform. This listing status dictates that compliance with certain corporate governance provisions, including those specified in regulations 17 through 27, clauses (b) to (i), and clause (t) of sub-regulation (2) of regulation 46 and paragraphs C, D, and E of...