Markets

CARE Reaffirms Faze Three Ltd Ratings Amid Revenue Growth, Capital Structure Strength CARE Ratings Ltd has reaffirmed its credit rating for Faze Three Limited following a review of the company’s financial performance and operational scale. The ratings reaffirmation includes an enhanced rating for the combined long-term and short-term bank facilities, with CARE Ratings assigning Stable outlook status.The total aggregated Bank Facilities that have been reaffirmed stand at Rs 280.00 crores. This includes Long Term Bank Facilities amounting to ₹40.00 crore, which hold a CARE A; Stable rating. Additionally, the Long Term / Short Term Bank Facilities amount to 240.00 (enhanced from 210.00), carrying a rating of CARE A; Stable / CARE A1...

Newgen Software Technologies Schedules Board Meeting for Q1 Financial Results Approval Newgen Software Technologies Ltd. has scheduled a meeting of its Board of Directors to review and approve the company's Unaudited Standalone and Consolidated Financial Results for the first quarter ended June 30, 2026.The board meeting is set to be held on Thursday, July 16, 2026. The primary agenda item for the gathering includes considering and approving these financial results for the first quarter of the fiscal year 2026.In addition to the announcement regarding the corporate board meeting, Newgen Software Technologies also provided an update concerning its securities trading regulations. In adherence to the company's Code of Conduct designed...

Petroleum Minister Puri dismisses 'Manufactured Controversy' over E20 Petrol Amid Ethanol Programme Milestones Ministerial Pushback on E20 Fuel Blending Concerns Union Petroleum Minister Hardeep Singh Puri has strongly refuted claims suggesting that the controversy surrounding India's transition to E20 ethanol-blended petrol is unfounded. Speaking to NDTV, Puri stated that the backlash only surfaced after the launch of E85 flex-fuel vehicles on June 5, not due to any increase in actual consumer complaints concerning E20 itself.Puri emphasized that E20 has been available in the market for nearly two years, and its predecessor, E15, had been present for three and a half years. He questioned the timing of the current dispute, linking it...

SBI Funds Management IPO Set for Major Listing Jump as GMP Reaches 12 Percent Ahead of Bumper Offer Shares of SBI Funds Management Ltd are generating significant buzz ahead of their massive public offering. With a grey market premium (GMP) hovering around 12 percent, the company is poised for strong investor interest in its upcoming Initial Public Offering (IPO). The three-day public issue, which totals Rs 11,692.91 crore, is scheduled to open next week, promising a glimpse into India's oldest and largest asset management firm.Grey Market Premium Fuels Pre-Listing Hype The unofficial market has been heavily bullish on the stock, with GMP indicators suggesting strong potential gains for investors. On the morning of July 9, various...

Directors Resign from Manilam Industries India Limited Amidst Strategic Shifts Manilam Industries India Limited has seen changes in its board composition as two of its directors tendered their resignations. Mr. Anubhav Kumar Nemani resigned with immediate effect, while Mr. Sreyas Agrawal's resignation is effective from July 15, 2026.Mr. Anubhav Kumar Nemani resigned from the post of Director (Non-Executive, Non-Independent) and associated Board Committees. His resignation was submitted on July 8, 2026, citing travelling constraints that prevented him from attending Board and Committee meetings, consequently affecting his ability to dedicate specialized attention to the company's affairs.Similarly, Mr. Sreyas Agrawal resigned from...

Global Security & Innovation Surge: PM Modi Forges Strategic Alliances with Australia Across Defense, Green Tech, and Supply Chains The visit of Prime Minister Shri Narendra Modi to Australia has solidified the strategic partnership between the two nations. A comprehensive range of outcomes have been announced, spanning advanced defense cooperation, critical technology development, energy security, and academic exchange. These agreements highlight a shared commitment to global resilience in an increasingly complex geopolitical landscape.Securing Maritime Domain and Defense Cooperation A cornerstone of the visit was the reaffirmation of mutual defense commitments. The Prime Minister and Australian counterparts signed a Joint...

Kapil Gautam Appointed as Non-Executive Director at Cressanda Railway Solutions; Satya Prakash Resigns Cressanda Railway Solutions Ltd has approved significant changes in its directorial appointments, appointing Mr. Kapil Gautam as a Non-Executive Director and accepting the resignation of Mr. Satya Prakash from the post of Independent Director. The decisions were taken by the Board of Directors during a meeting held on June 11, 2026.Mr. Kapil Gautam was appointed to the role of Non-Executive Director, effective June 11, 2026. In addition to his board position, he has been designated as a committee member in both the Corporate Social Responsibility Committee and the Risk Management Committee, also effective from June 11, 2026.A...

BoB Settles Landmark $600 Million Case with NMC Health, Ending Major Overseas Legal Saga Bank of Baroda (BoB) has reached a historic out-of-court settlement amounting to $600 million, or approximately Rs 5,700 crore. This agreement resolves one of the longest and most complex overseas legal disputes involving an Indian banking institution. The payment was made to NMC Health, a healthcare entity based in the UAE that is now under joint administration after undergoing insolvency proceedings.The settlement, detailed in a July 2 exchange filing, brought to a close a dispute that spanned multiple jurisdictions. Importantly, the agreement stipulates that neither party admits any liability or wrongdoing. This move aims simply to conclude the...

Vedanta Oil Stock Surges 5% as Court Upholds Rs 99 Million Arbitration Award Vedanta Oil and Gas shares climbed significantly on July 9 after the Delhi High Court rejected the Central government's objections regarding a foreign arbitral award favoring Vedanta Limited and Singapore-based Ravva Oil. This move relates to a dispute concerning the Ravva oil field production sharing contract.The stock saw trading lift, with Vedanta Oil and Gas shares trading 5.2% higher at Rs 38.39 apiece by noon on July 9. The court ruling provides regulatory clarity regarding the enforcement of the award.Court Upholds $99 Million Arbitration Award The dispute originated from a contract dating back to 2014, when the Centre issued a show-cause notice...

Shoppers Stop Board Approves Reclassification of Entities from Promoter Group StatusShoppers Stop Limited announced that its Board of Directors approved requests from certain entities seeking reclassification from the 'Promoter Group' category to the 'Public Shareholder' category. The decision was made by the company's Board on July 9, 2026.The approval addresses applications submitted by specific entities currently classified as part of the Promoter Group (the "Exiting Promoter Group Entities"). The Board reviewed and approved these requests, noting that the necessary conditions for re-classification have been met.The companies whose shareholding status is changing are Content Properties Private Limited and Sycamore Properties...

Gas Giants Surge as Kotak Predicts Strong June Quarter Despite Market Turmoil Strategic Outlook for GAIL and Petronet LNG Shares of both GAIL and Petronet LNG traded notably higher on Thursday. This rally follows a strong positive assessment from Kotak Institutional Equities. The brokerage expects "good results" for both companies during the June quarter, even considering the turbulent operational environment currently faced by the oil and gas sector.Petronet LNG specifically gained as much as 2.5%, reaching Rs 278.25. GAIL saw a solid rise of over 1%, trading at Rs 171.07. These movements underscore investor confidence in their resilience amid global market volatility.Navigating Sector Turmoil: Kotak's Viewpoint Kotak acknowledged...

Tata Group Targets $100 Billion Auto Revenue by FY31: Jaguar Land Rover & EVs Drive Massive Growth Strategy Global Ambition Set as Tata Group Charts $100 Billion Automotive Trajectory Tata Group has outlined an ambitious growth trajectory for its automotive business, targeting approximately $100 billion in revenue by the year ended March 2031. Chairman Natarajan Chandrasekaran detailed these comprehensive plans at the annual general meeting of Tata Motors Passenger Vehicles Ltd., following the demerger of the company's passenger and commercial vehicle operations.The plan reveals a significant reliance on key business units to achieve this colossal target. Jaguar Land Rover (JLR) is projected to contribute between $45 billion and $50...

Phoenix Mills Stock Surges as JPMorgan Confirms Q1 Consumption Beat, Boosting Real Estate Outlook Shares of The Phoenix Mills saw a strong rally on Thursday, climbing over 4 percent after JPMorgan reaffirmed an Overweight rating on the real estate developer. This positive sentiment was driven by the brokerage's assessment that the company's retail consumption for the fiscal first quarter significantly exceeded market expectations.The stock moved up 4.08 percent to Rs 2,105 around noon, accumulating a gain of 12.5 percent so far in 2026. This robust performance stands in stark contrast to the Nifty 50, which recorded a decline of 7.9 percent. The company currently holds a market capitalization of approximately Rs 75,300 crore...

Del Monte Foods Group Approves Amalgamation of Subsidiaries to Simplify Operations The boards of Directors of Del Monte Foods Private Limited and Del Monte Foods India (North) Private Limited have approved a Scheme of Amalgamation aimed at merging the two entities. The transaction involves Del Monte Foods Private Limited, a material wholly-owned subsidiary of Sundrop Brands Limited, and Del Monte Foods India (North) Private Limited, which is a step-down subsidiary of the parent company.The amalgamation, decided upon by the respective boards on July 9, 2026, is intended to restructure the group's business and operations. The companies are engaged in the manufacturing and trading of processed food products and beverages for both Indian...

RKEC Projects Limited Requests Time Extension for Audited Financial Results of FY2026RKEC Projects Limited has sought an extension to submit its audited financial results for the financial year ended March 31, 2026. The company requested time until July 31st to furnish various required financial statements and reports.In its communication regarding the matter, RKEC Projects Limited stated that it is a Micro Small and Medium Enterprise (MSME) unit. The delay in submission stems from temporary issues pertaining to funds and cashflow within the organization.To fulfill the requirement, the company must submit several documents, including both standalone and consolidated statements. These materials include the Statement of Assets and...

Camlin Fine Sciences Completes Simplified Tender Offer for Vinpai Shares, Holding 95.41% of Share Capital CAMLIN FINE SCIENCES LIMITED (CFSL), a prominent group in shelf life solutions for flavor and health and wellness ingredients, has announced the successful completion of its simplified cash tender offer (OPAS) for the remaining shares of Vinpai (ISIN: FR001400AXT1; mnémonique: ALVIN). The acquisition was conducted on Euronext Growth Paris.The OPAS concluded on July 6, 2026, and the results were published by the Autorité des marchés financiers (AMF). With the completion of this tender offer, CFSL has acquired a substantial stake in VINPAI.CFSL holds 4,351,894 shares in VINPAI, which represents 95.41% of the share capital...

GM Breweries Ltd Reviews Unaudited Financial Results for Quarter Ending June 30, 2026 GM Breweries Ltd has completed the review and approval of its unaudited consolidated and standalone financial results for the quarter ended June 30, 2026. The company conducted a Board meeting regarding these results on July 09, 2026, which included both consumer-facing statements and limited review reports by chartered accountants.The reviewed financial results cover both the consolidated figures and the standalone performance of GM Breweries Ltd. For the quarter ended June 30, 2026, the reported items under the consolidated unaudited financial results include Sales/Income from operations (including Excise Duty, VAT & TCS), Expenses such as Cost of...

Uday Jewellery Industries Applies for Direct Listing of Equity Shares on NSE Uday Jewellery Industries Ltd has applied to the National Stock Exchange of India Limited (NSE) seeking the direct listing of its equity shares. The company's existing equity shares, which are currently listed on BSE Limited, were the subject of this application, according to details released by the company.The proposal involves 3,72,15,825 equity shares, each having a face value of ₹10/-.The initiative received approval from the Board of Directors at a meeting convened on May 28, 2026.Uday Jewellery Industries Ltd stated that this application is for the direct listing of its existing shares and submitted the details to NSE regarding the process.Stock...

RBI Announces Overnight Variable Rate Repo Auction Amid Evolving Liquidity Conditions The Reserve Bank of India (RBI) has announced the conduction of an Overnight Variable Rate Repo (VRR) auction. This strategic move aims to manage and address evolving liquidity conditions within the financial markets. The auction is scheduled for Thursday, July 09, 2026.Key Details of RBI's VRR Auction The central bank has specified the operational parameters for the upcoming Variable Rate Repo transaction. A notional amount of ₹50,000 crore has been notified for this specific operation.The tenor set for the auction is one day. This structure ensures that short-term liquidity demands are met effectively within the market framework. The scheduled...

Crude Oil Must Fall to $65-$70 For Deutsche Bank to Target India and Emerging Asia Bonds Key Condition for Investing in Indian and Asian Sovereign Debt Deutsche Bank AG’s private investment arm has set a strict prerequisite before bullish activity can begin in emerging Asia bonds, specifically targeting markets like Indonesia and India. Jacky Tang, the chief investment officer for emerging markets at the division catering to wealthy clients, stated that confidence will return only if crude oil prices settle significantly lower.The bank is prepared to look closely at these exposure-prone economies if crude remains around $65 to $70 per barrel for a period of approximately two months. This stability is crucial as it would help stabilize...