Markets

Industry Giants Surge into IT Revolution: PM-SETU Transformation Anchored by Rs 1,237 Crore Investment Across Key States The government has greenlit a massive nationwide overhaul of India’s Industrial Training Institute (ITI) ecosystem. The 4th National Steering Committee (NSC), chaired by Ms Debashree Mukherjee, Secretary of the Ministry of Skill Development and Entrepreneurship (MSDE), approved the transition of PM-SETU from its pilot phase to a full national rollout. This pivotal move ensures that all 200 identified ITI clusters can be upgraded according to industry readiness and local implementation capacity.The committee also formalized measures aimed at simplifying the program's execution, encouraging robust participation from...

Festivals Drive Travel Decisions in India as Regional Celebrations and Experience-Based Trips Surge Festivals are increasingly shaping travel decisions among Indians, with regional celebrations emerging as key holiday travel drivers, according to insights from Thomas Cook (India) Limited and its Group Company SOTC Travel. The two companies note a trend where travellers are aligning their holidays with significant regional festivals, transforming traditional festive occasions into memorable travel experiences that incorporate spiritual journeys, cultural immersions, family gatherings, and international getaways.The trend is visible across major Indian source markets. Travellers in Kochi and Thiruvananthapuram are making the most of...

Jagsonpal Pharmaceuticals Completes Acquisition of Majority Stake in Aequitas Healthcare, Establishes Subsidiary Status Jagsonpal Pharmaceuticals Ltd has successfully completed the acquisition of a significant equity stake in Aequitas Healthcare Private Limited ("Aequitas"). Following the transaction, Aequitas is now established as a subsidiary of Jagsonpal Pharmaceuticals Limited.The company reported that it had initially planned to acquire an 85% stake in Aequitas. However, the completed transaction involved the acquisition of 69.77% of the equity in Aequitas.This strategic acquisition marks a key operational development for Jagsonpal Pharmaceuticals as it formalizes control over Aequitas Healthcare through this majority stake...

Aryaman Financial Services Acquires Shares in Wholly Owned Subsidiary for Business Expansion Aryaman Financial Services Ltd has undertaken a two-part share acquisition in its wholly owned subsidiary, Aryaman Finance (India) Limited. The transactions represent a significant infusion of capital aimed at expanding operational capacity, driving revenue growth, and enhancing market share within the financing sector.The first transaction occurred on June 25, 2026, when shares were allotted to Aryaman Financial Services Ltd. These shares comprised 69,445 equity units from Aryaman Finance (India) Limited. Each equity share was issued at an issue price of Rs. 144/- per share, comprising a face value of Rs. 10/- and a premium of Rs. 134/-. The...

Konstelec Engineers Limited Forms Joint Venture with HCC for Nuclear Infrastructure EPC Project Konstelec Engineers Limited has formed a domestic joint venture (JV) with Hindustan Construction Company Limited (HCC) to participate in bidding for and execute a major engineering, procurement, and construction (EPC) project related to nuclear infrastructure. The JV agreement was executed on July 7, 2026.The collaboration between the two established engineering and infrastructure companies is aimed at jointly participating in the tendering process for designing, engineering, procuring, constructing, installing, testing, and commissioning isotope production reactor facilities. These facilities include associated civil, electrical...

Swiggy Surges Past Majority Mark: Domestic Ownership Rises to 50.24% in Strategic IOCC Push Swiggy, the prominent food and grocery delivery platform, has achieved a critical financial milestone after domestic ownership in the company surpassed the 50 percent threshold. This development marks a significant step in Swiggy’s determined transition toward becoming an Indian Owned and Controlled Company (IOCC).The stock exchange filing made on July 7 confirmed the shift. As of July 6, foreign investment stood at 49.76 percent of its fully diluted paid-up equity share capital. Consequently, domestic ownership has risen to 50.24 percent.Understanding Swiggy’s Ownership TransitionWhile this disclosure confirms the crossing of the majority...

P N Gadgil Jewellers Ltd Reports Strong Q1 FY27 Performance Driven by Retail Growth P N Gadgil Jewellers Ltd reported a robust performance in its first quarter of Fiscal Year 2027 (Q1 FY27), achieving substantial revenue growth and demonstrating structural improvements across its business segments. The company noted that the strong results were driven primarily by the Retail segment, while maintaining steady operational expansion.Financial Performance Highlights The Company recorded a robust revenue growth of 41% year-on-year (YoY) in Q1 FY27.Key segment performance metrics included:Retail Segment: This segment saw significant growth at 56% YoY. The primary driver was Same Store Sales Growth (SSSG), which rose by 46% YoY...

RBI Imposes Compounding Fine on CARYSIL LIMITED Over Subsidiary Investment Reporting Delay CARYSIL LIMITED has been hit with a compounding order by the Reserve Bank of India (RBI) regarding the timely reporting of an overseas investment made by its subsidiary. The action resulted in a financial penalty of INR 1,44,000/- after the RBI’s Foreign Exchange Department issued the order on July 6, 2026.The Compounding Order, which falls under Section 15(1) of the Foreign Exchange Management Act (FEMA), 1999, pertains to a contravention of Regulation 13 of the Foreign Exchange Management (Transfer or Issue of Any Foreign Security) Regulations, 2004. The violation was committed due to the delay in reporting the investment made by CARYSIL’s...

Shri Krishna Prasadam Ltd Announces Resignation of Additional Executive Director Shri Krishna Prasadam Limited has announced that Mr. Parmod Chand Joshi has resigned from his position as Additional Executive Director on the Board of Directors. The resignation was effective from July 6, 2026, citing personal and unavoidable circumstances.The departure of Mr. Joshi marks a change in the company's executive structure.Key details regarding the resignation are summarized below:DetailInformationReason for ResignationPersonal and Unavoidable circumstancesDate of CessationWith Effect from 06/07/2026Director's ProfileNot Applicable (NA)SKP Stock Price Movement Shares of SKP Bearing Industries Limited hold steady at ₹153.75...

Bharat Heavy Electricals Signs Strategic Collaboration with thyssenkrupp nucera India for Green Hydrogen Projects Bharat Heavy Electricals Limited (BHEL) has signed a Strategic Collaboration Agreement (SCA) with thyssenkrupp nucera India Private Limited. The collaboration centers on the development and implementation of Alkaline Electrolyser Systems for green hydrogen projects in India.The agreement establishes a strategic tie-up between BHEL and thyssenkrupp nucera India Private Limited. This partnership is focused on leveraging technology to advance the domestic market for alkaline electrolyser systems, which are crucial components in green hydrogen initiatives.This collaboration is set to significantly bolster BHEL's involvement...

Luxury Purchase Signals Peak: eClinicalWorks CEO's Wife Acquires Worli Sea-Facing Apartment for Rs 162.2 Crore Radhi Girish Navani, wife of Girish Kumar Navani, co-founder and Chief Executive Officer (CEO) of the US-based technology firm eClinicalWorks, has made a significant high-value property purchase in Mumbai. She acquired a luxury sea-facing apartment in Worli's prime Naman Xana residential tower for Rs 162.2 crore.The transaction was formally registered on July 3, 2026, as per property documents obtained from real estate data analytics firm Zapkey. The residence is situated in the ultra-luxury Naman Xana tower located at Worli Sea Face, cementing its position among Mumbai's most exclusive addresses.Details of the Ultra-Luxury...

Promoter, Chairman and Managing Director of Yaap Digital Limited Passes Away Yaap Digital Limited announced the sudden demise of its Promoter, Chairman, and Managing Director, Mr. Atul Jeevandharkumar Hegde, in the early hours on July 7, 2026.Mr. Hegde was identified as a pivotal figure whose vision and leadership guided the company through its growth. The Board of Directors and the management expressed deep condolences to his family regarding this loss.Following the passing of Mr. Hegde, the existing Management Team will continue to oversee the affairs and operations of Yaap Digital Limited under the guidance and supervision of the Board of Directors. The company affirmed its commitment to ensuring business continuity and serving...

Sukhjit Starch & Chemicals Announces Directorship Appointments and 82nd Annual General Meeting DetailsSukhjit Starch & Chemicals Ltd. has announced outcomes from its recent Board Meeting, detailing changes in management and setting dates for its forthcoming annual general meeting. The board recommended several key appointments to the shareholders.The company will host its 82nd Annual General Meeting on Wednesday, August 26, 2026, at Rehana Jattan in Phagwara. Details regarding book closure and record date for dividend payment were also provided by the Board.Book closure for the purpose of the AGM is scheduled from August 21, 2026, through August 26, 2026 (inclusive). The cut-off date intended for determining shareholders for...

PNGS Reva Diamond Jewellery Ltd Opens New Exclusive Brand Store in Pune PNGS Reva Diamond Jewellery Limited has expanded its physical retail presence by opening a new exclusive brand store. The company introduced the addition at Amanora Mall in Hadapsar, Pune.The new outlet is located at Ground Floor, West Block of Amanora Mall, which is situated in Amanora Park Township, Mundhwa Road, Hadapsar Kharadi Bypass, Pune. This strategic expansion enhances the company’s retail footprint across its operational geography.With the opening of this latest store, PNGS Reva Diamond Jewellery Limited reports that it currently operates a total of 34 SIS stores through P. N. Gadgil & Sons Limited. The company also maintains three Exclusive Brand...

Austere Systems Secures Work Order from HDFC Bank for Management Information System Austere Systems Limited, formerly known as Austere Systems Private Limited, has secured a significant work order from HDFC Bank Limited. The contract involves developing a Management Information System (MIS) for the bank.The total value of this domestic contract stands at ₹1,86,60,000/-.The project details include:Entity awarding the contract: HDFC Bank Limited Nature of the work: Management Information System (MIS) Order size/Consideration: ₹1,86,60,000/-This engagement underscores Austere Systems' capabilities in providing specialized information system solutions to major financial institutions.Stock Price Movement Austere Systems Ltd...

MAS Financial Services Ratings Updated by Acuite: Bank Loan Facilities Reaffirmed; Proposed Debentures Assigned AA Acuite Ratings & Research Limited has assigned, reaffirmed, and withdrawn credit ratings on various instruments of MAS Financial Services Ltd (MFSL). The ratings reflect the company's financial performance, growing asset base, and operational profile, which includes exposure across Micro and Small Medium Enterprises (MSMEs) and lending to associated institutions.Acuite reaffirmed the long-term rating for MFSL’s Bank Loan facilities at ACUITE AA with a Stable outlook. The agency also assigned a long-term rating of ACUITE AA with a Stable outlook to proposed Non Convertible Debentures amounting to Rs 100.00 Cr. while...

IBL Finance Limited Allots Rs 2.0 Lakhs Worth of Secured Non-Convertible DebenturesIBL Finance Limited announced the successful allotment of Unlisted, Senior, Secured, Unrated, Taxable, Redeemable Non-Convertible Debentures (NCDs) on a private placement basis. The company's Finance Committee approved the issuance on July 7, 2026.The allotment involved two NCDs, each with a face value of Rs 1,00,000/-, issued at an issue price of Rs 1,00,000/-. The total size of the private placement was Rs 2,00,000/- (Rupee Two Lacs Only).The issuance was previously approved by the Board of Directors on July 16, 2025, and received approval via a Special resolution from shareholders at the Annual General Meeting held on August 22, 2025.Key...

Sensex and Nifty Stall Gains as Profit Booking and Sector Slumps Challenge Mid-week Rally Stock benchmarks Sensex and Nifty witnessed a significant pause in their upward trajectory on July 7, with the indices trading near flat despite strong recent performance. The market movement was primarily attributed to profit booking following several consecutive days of gains, compounded by declines in metal and realty stocks.Market Overview: Benchmarks Trading Cautiously While both benchmarks had delivered robust gains over the past week, their momentum faded as traders took profits. The Sensex fell substantially from its day's high, while Nifty was trading near a critical support range.As of 1:14 pm, the Sensex stood at 78,316.16, recording...

IT Stocks Surge Up to 4% as Optimism Builds Ahead of Q1 Earnings Season The Indian information technology (IT) sector witnessed a significant rally on Tuesday, with stocks gaining up to 4 percent. This robust buying interest stems from investors eagerly awaiting management commentary regarding demand trends ahead of the quarter's earnings season.The Nifty IT index rose by as much as 3 percent. This gain extends the index's rebound observed in July, following a period where it declined by 10.5 percent over the preceding two months. Tata Consultancy Services (TCS) is set to release its first-quarter results on Thursday, adding focus to the sector’s trajectory.Expert Viewpoints Driving the IT Sector Rally Ponmudi R, CEO of Enrich...

Market Overhaul: SEBI Eases Compliance Burden, Makes Merchant Bankers Optional for Share Buybacks! The Securities and Exchange Board of India (SEBI) has notified significant amendments to its buyback regulations. These changes, set to be effective from August 1, aim to simplify compliance and reduce transaction costs while simultaneously introducing stringent safeguards concerning promoter holdings and investor communication.The regulatory updates implement proposals approved by the SEBI Board on June 19. The revisions reflect a balanced approach, reducing operational complexities for companies without diluting crucial investor protection mechanisms.Merchant Banker Becomes Optional for Buyback Offers A major shift under the new...