Markets

Atanu Chakraborty's Pay Soars to ₹1.07 Cr as HDFC Bank Confronts Governance Questions HDFC Bank’s former ex-chairman and bureaucrat, Atanu Chakraborty, saw his overall earnings rise by 3.53 per cent in the financial year 2026. The country's largest private sector lender disclosed the details on Saturday in its annual report for FY26.Chakraborty earned a total of ₹1,07,25,269 in sitting fees and remuneration from the bank during the fiscal period. This figure is an increase compared to the earnings of ₹1,03,58,871 he received in the previous financial year (FY25).Chakraborty's Earnings Grow as HDFC Bank Releases FY26 Report The FY26 annual report detailed that Chakraborty was entitled a fixed remuneration of ₹50 lakh for his role...

Saurashtra Cement Ltd Receives Partial Relief from Income Tax Appellate Authority Saurashtra Cement Ltd has received an appellate order from the Commissioner of Income Tax (Appeals), National Faceless Appeal Center (NFAC). The ruling, dated July 10, 2026, allowed the company's appeal partially.The details concerning the outcome and subsequent actions have been confirmed by the company following receipt of the order on July 11, 2026.Regarding the financial standing, Saurashtra Cement Ltd noted that there will be no additional financial impact on the company as a result of this Appellate order.In response to the NFAC's decision, the company has announced its next course of action. A second appeal is being filed before the Income Tax...

State Bank of India's Subsidiary IPO Sees Offer Revision and Pre-IPO Sale Update The Initial Public Offering (IPO) of SBI Funds Management Limited (SBIFM), a subsidiary of State Bank of India, is undergoing updates regarding its offering structure and reflecting details from a pre-IPO transaction. The listing involves the equity shares of SBIFM, with both the bank and Amundi India Holding participating in the Offer for Sale.The IPO constitutes an offer for sale of up to 170,956,631 equity shares of face value Rs. 1 (one) each, representing up to 8.3933% of the paid-up equity share capital of SBIFM. State Bank of India and Amundi India Holding are offering specific portions of these shares.The Offer for Sale includes a portion...

Vedanta Vows to Boost India's Energy Security by Targeting Massive Oil Output Vedanta Oil & Gas has reaffirmed its commitment to play a pivotal role in India’s energy independence journey. The company has set an ambitious target of producing 500,000 barrels of oil equivalent per day (boepd).This strategic goal directly addresses the nation's critical vulnerability regarding fossil fuels. Currently, India imports almost 90% of its oil and gas requirements, leaving its economy highly exposed to global supply shocks and volatile international pricing.Unlocking India's Vast Hydrocarbon Potential Vedanta highlighted that India possesses enormous untapped hydrocarbon resources, estimated at around 300 billion barrels equivalent. The...

LTM Limited Launches Shareholder Satisfaction Survey to Gauge Investor Experience LTM Limited has launched a dedicated Shareholder Satisfaction Survey to ensure continuous two-way communication with its investors. The initiative, released on July 11, 2026, seeks detailed feedback from shareholders regarding their overall experience and the services provided by the company.The survey covers several key operational areas designed to enhance shareholder engagement. Feedback requested includes the timely receipt of dividends, quality of communication with shareholders, and the contents of the Integrated Annual Report.Additionally, LTM Limited is seeking input on the accessibility of the Investors page on its official website and the...

Delhivery Ltd Allots 206,502 Equity Shares Following Vested Option Exercise; Paid-Up Capital Increases Delhivery Ltd has announced the allotment of a total of 2,06,502 equity shares following the exercise of vested stock options. The allotment is a result of two employee stock option plans: ESOP 2012 and ESOP IV 2021.The company's paid-up share capital has been updated consequent to this transaction. The total paid-up share capital increased from Rs. 74,88,48,124/- to Rs. 74,90,54,626/.The allotted equity shares rank pari-passu with the existing equity shares of the company in all respects. The options exercised for this allotment are not subject to a lock-in period.Details of Share Allotment and Financial Metrics The following...

Prime Minister Vows Rapid Growth as Bharat and New Zealand Forge Strategic Alliance in Tech and Sustainability Bridging Continents: India's Commitment to Bilateral Prosperity The Prime Minister arrived in New Zealand, signifying a momentous strengthening of the relationship between the two nations. The visit underscores the depth of friendship, shared values, and commitment that define the India-New Zealand bond. Recognizing this partnership, the Prime Minister emphasized that the success of this journey rests not on him alone but with the Indian community spread across New Zealand.The PM highlighted that while culture is paramount, the economic relationship holds immense potential. He stated that the open ocean ahead represents vast...

Pudumjee Paper Products Limited Appoints Anil Shankarlal Mittal as Non-Executive Independent Director Pudumjee Paper Products Limited has appointed Mr. Anil Shankarlal Mittal as a Non-Executive Independent Director, following approval by its shareholders through a Postal Ballot.The appointment of Mr. Mittal is effective from May 22, 2026, and the term of his directorship spans five years, concluding on May 21, 2031.In addition to this executive change, the company provided comprehensive details regarding Mr. Mittal's profile. The disclosure confirms that there are no relationships between the newly appointed director and existing board members. Furthermore, he is not debarred from holding the office of Director by any SEBI order or...

HDFC Bank Clears Governance Cloud After Part-Time Chairman’s Resignation, Restoring Investor Confidence HDFC Bank has addressed a significant governance issue following the abrupt resignation of its part-time chairman Atanu Chakraborty. The departure, which occurred more than a year into his term, sparked scrutiny regarding the bank's internal governance standards. MD and CEO Sashidhar Jagdishan confirmed that the event posed a "challenging" moment for the institution as noted in the annual report.The resignation of Mr. Chakraborty on March 18, 2026, was notably the first instance of a part-time chairman leaving mid-term at the country’s largest private sector lender. The statement included in his resignation letter led to immediate...

Mindspace Business Parks REIT Schedules Board Meeting to Approve Q1 and FY March 31, 2026 Financial Results Mindspace Business Parks REIT has announced the schedule for its forthcoming Board of Directors meeting where it will consider the audited financial results for the quarter and the full year ended on March 31, 2026.The company's board meeting is set for Saturday, July 18, 2026, at 05:00 P.M. The meeting will be held at the Corporate Office situated in Delhi.The primary agenda item for the meeting is to consider and approve the Audited Financial Results for the quarter and year ended as on March 31, 2026. Any other matter as permitted by the Chair will also be addressed during the session.In a separate operational update...

West Bengal Promises Industrial Boost: Single-Window Clearance for Investments Above ₹100 Crore Government Pledges Business-Friendly Environment to Attract Major Capital West Bengal Chief Minister Suvendu Adhikari announced a significant policy shift aimed at bolstering industrial growth in the state. He declared that his government would institute a single-window clearance mechanism specifically for investment proposals valued at ₹100 crore and above. This move signifies a proactive step toward establishing West Bengal as a preeminent destination for corporate investment.Speaking at the foundation stone-laying ceremony of Lux Industries' new manufacturing facility in Dankuni, Hooghly district, Adhikari emphasized his administration's...

Rama Paper Mills Ltd Announces Board Meeting to Discuss Financial Results Rama Paper Mills Ltd has scheduled a meeting of its Board of Directors to review and approve the Audited Financial Results for the quarter and year ended on March 31, 2026.The Board meeting is set for Saturday, July 18, 2026, at 5:00 P.M. The meeting will be held at the Company's works, located at its Corporate Office in Delhi.The primary agenda item for the board includes considering and approving the Audited Financial Results pertaining to the quarter and financial year concluded on March 31, 2026. The directors are also expected to address any other matters permitted by the Chair.In adherence to the Company's Code of Conduct regarding Insider Trading...

Cummins India Announces Annual General Meeting and Final Dividend for FY 2025-26 Cummins India Limited has announced the dates for its 65th Annual General Meeting (AGM) and declared a final dividend for the financial year 2025-26. The company also made the Annual Report available to shareholders.The AGM is scheduled to be held on August 06, 2026, at 11:30 A.M. (IST). Members are invited to attend through Video Conferencing (VC) or Other Audio Visual Means (OAVM).For shareholders who did not have their email addresses registered with the company, the Annual Report for FY 2025-26 is available via a provided link on the company website. The notice of the AGM and the Annual Report are also accessible on various stock exchange platforms...

Amba Auto Sales Secures Lease Agreements for Expansion of Chetak, KTM, and 3-Wheeler Showrooms Amba Auto Sales and Services Limited has secured lease agreements to establish new commercial premises for the sale of its various product lines, including Chetak vehicles, KTM motorcycles, and 3-wheeler vehicles. These arrangements support the company's expansion plans within the market.The leases were executed on July 10, 2026, at a property located at Survey No. 121/1A and 124/1A in Dommasandra-Ramsagar Road, near Chandapura Circle, Bengaluru. The operational details for each product line are outlined below:Lease Agreements Details Chetak Vehicles The lease agreement for the sale of Chetak vehicles stipulated a term of 10 years. The...

Somany Ceramics' Mergers Completed as Equity Shareholders Approve Amalgamation Scheme Somany Ceramics Limited has received the reports detailing the successful completion of both its Equity Shareholders and Unsecured Creditors meetings, affirming the amalgamation scheme involving several entities. The decisions were made following meetings convened on June 13, 2026, concerning the proposed merger into Somany Ceramics Limited.The approval processes cover the consolidation of three entities: Somany Bathware Limited, Somany Excel Vitrified Private Limited, and SR Continental Limited, with the transfeeree company being Somany Ceramics Limited.Equity Shareholders Meeting Results The meeting of Equity Shareholders was held on June 13...

Ontic Finserve Limited to Hold Board Meeting to Approve Q1 Results and Consider Share Capital Reduction Ontic Finserve Limited has scheduled a Board of Directors meeting for Thursday, July 16, 2026, at its Registered Office. The meeting agenda includes critical corporate matters, including the review and approval of the company's financial performance and the consideration of a major capital structure proposal.Key items slated for discussion include taking on record the Un-Audited Standalone Financial Results for the quarter ended June 30, 2026, alongside a Limited Review Report. Furthermore, the Board is set to consider and approve the proposal regarding the Reduction of Share Capital, a move that is subject to various statutory...

UK Subsidiary Fined PLN 54,000 Over Alleged Intrastat Declaration Delay Zydus Wellness Limited confirmed that its wholly owned subsidiary, Comfort Click Limited (CCL), faced a penalty imposed by Polish tax authorities regarding delayed filings. The fine relates to the non-submission of Intrastat declarations for stock arrivals and dispatches spanning January 2023 to September 2023.The Director of the Tax Administration Chamber in Szczecin imposed the financial penalty on CCL. This action was received by the company on July 10, 2026. The penalty amount is PLN 54,000, which was stated as being approximately ₹ 1.35 million based on an exchange rate published by Bloomberg on that date.The details of the transaction and its implications...

Sandu Pharmaceuticals Completes Leadership Transitions; Names New Managing Director and Board Appointments Sandu Pharmaceuticals Ltd has undergone significant changes in its senior management and board composition following a recent board meeting held on July 11, 2026. The company took several actions relating to the loss of a director, appointments, and structural revisions across key committees.The Board of Directors formally noted the demise of Shri Umesh B. Sandu (DIN: 01132141), who served as Managing Director, having passed away on June 19, 2026. The board expressed sincere appreciation for his contribution and leadership during his tenure.Key Appointments and Redesignations The Board approved the appointment of Dr. Neeti...

Ontic Finserve Ltd Board Meeting Scheduled to Approve Q1 Results and Review Share Capital Reduction Proposal Ontic Finserve Ltd has announced that a meeting of its Board of Directors will be held on Thursday, July 16, 2026. The agenda for the meeting includes crucial corporate actions, including the consideration and approval of the company's un-audited standalone financial results for the quarter ending June 30, 2026.The proposed business items scheduled for deliberation by the Board include:Reviewing and approving the Un-Audited Standalone Financial Results and the Limited Review Report for the quarter ended on June 30, 2026. Considering and approving a proposal for the Reduction of Share Capital of the Company. The approval of...

Unitech International Ltd Committee of Creditors Meeting Details Reveal Decisions on Insolvency Resolution Process The Committee of Creditors (CoC) of Unitech International Limited held its 10th meeting via Video Conferencing on Friday, May 22, 2026, to consider and deliberate upon various resolutions related to the ongoing Corporate Insolvency Resolution Process. The outcomes of the voting sessions covered key operational decisions concerning due diligence appointments, auditor changes, and expenses ratification.The meeting addressed several agenda items pertaining to the future management and financial structure of the company. Resolutions concerning the appointment of specific professional firms for due diligence under section 29A...