Markets

Nikita Greentech Recycling Halts Paper Unit Production Line for Capacity ExpansionNikita Greentech Recycling Limited (formerly Nikita Papers Limited) has announced the temporary shutdown of its Paper Unit (PM-I) production line at its manufacturing facility in Shamli, Uttar Pradesh. The halt is scheduled to facilitate significant upgrades and expansion activities aimed at improving operational efficiency and increasing production capacity.The Paper Unit (PM-I) will be temporarily shut down starting July 15, 2026. This planned shutdown is necessary for the installation, integration, upgradation, modification, and commissioning of new machinery and related equipment within the existing production line.Management estimates that the...

Nikita Greentech Recycling Shuts Down Paper Unit for Capacity Expansion and New Machinery Integration NIKITA GREENTECH RECYCLING LIMITED has announced the temporary shutdown of its Paper Unit PM-I to facilitate a major capacity expansion project. The shutdown is necessary for the installation, integration, upgradation, expansion, modification, and commissioning of new machinery and related equipment at the manufacturing facility located in Shamli, Uttar Pradesh.The production line closure is scheduled to begin on July 15, 2026. The company estimates that the temporary shutdown period will last approximately three months, with operations expected to resume by October 2026, pending successful completion of all installation and...

Garlon Polyfab Industries Releases Financial Results for Q Ended March 31, 2025; Audit Confirms Unmodified Opinion Garlon Polyfab Industries Limited has published its Audited Financial Results and associated reports for the Quarter ended March 31, 2025. The company's Board of Directors considered and approved these results during a meeting held on May 29, 2025.The financial statements were audited by M/s D.C. Shukla & Co., Statutory Auditors. The audit reports confirm an unmodified opinion regarding the Standalone Financial Results for the period ended March 31, 2025. The company also provided results for the unaudited standalone financials of the subsequent quarter ending March 31, 2025.Financial Snapshot and Balance Sheet...

Interarch Building Solutions Commences Phase-1 Production at Gujarat Facility, Boosting Capacity by 20,000 MT Interarch Building Solutions Limited, formerly known as Interarch Building Products Limited, has successfully commenced commercial production of Phase-1 at its new manufacturing facility in Kheda, Gujarat. This operational milestone was achieved with effect from July 9, 2026. The commissioning significantly enhances the company's total installed manufacturing capacity.The addition of the new facility underscores Interarch Building Solutions' ongoing expansion strategy. Following this capacity enhancement, the company’s total installed manufacturing capability has increased from 201,000 MT to 221,000 MT as of July 9, 2026...

Garlon Polyfab Industries Ltd Approves Financial Results for Quarter Ended March 31, 2025 Garlon Polyfab Industries Limited announced that its Board of Directors reviewed and approved the audited financial results for the quarter ended March 31, 2025. The company’s statutory auditors issued an audit report on these results, affirming their compliance with applicable regulations.The Board meeting considered and approved the Audited Financial results of the Company for the Quarter/Period ended March 31, 2025, taking record of the Audit Report issued by M/s D.C. Shukla & Co., the Statutory Auditors.Auditor's Opinion on Results M/s D.C. Shukla & Co. confirmed that the financial presentation for the quarter complied with the requirements...

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...