Markets

India Ratings Affirms IndusInd Bank's Credit Rating at IND AA+ on Debt InstrumentsIndusInd Bank Ltd has seen the credit rating on its debt instruments reaffirmed by India Ratings and Research Private Limited. The rating affirmation, communicated on July 2, 2026, assigned the rating of 'IND AA+' with a Negative outlook across key bond types issued by the bank.The reaffirmation details were provided for various debt offerings, which include senior unsecured redeemable bonds and Basel III compliant Tier 2 Bonds. The rating agency confirmed these instruments maintain the same designation of IND AA+ and carry a Negative outlook.The total size of the issues covered under this affirmation is as follows:Debt Instrument TypeIssue Size...

Uma Converter Limited announces CFO Ashish Bhandari's resignation due to personal reasonsUma Converter Limited has announced that Mr. Ashish Bhandari, its Chief Financial Officer (CFO) and Key Managerial Personnel, has tendered his resignation from the position.The company confirmed that Mr. Bhandari is leaving the role due to personal reasons. His final day of service at Uma Converter Limited will be July 10, 2026.In line with corporate governance requirements regarding key managerial personnel, the change in leadership structure has been documented by the company.Key details concerning the cessation of Mr. Bhandari's role are as follows:ParticularsDetailsPositionChief Financial Officer (KMP)Reason for...

Happiest Minds Technologies provides detailed note on Tax Deduction at Source for Dividends Happiest Minds Technologies Ltd has issued communication regarding the tax implications of dividends paid to shareholders, providing a detailed guide on the deduction of tax at source (TDS) on dividend income.The company stated that under the provisions of the Income Tax Act, 2025, dividend income is taxable in the hands of the shareholders.To assist investors, Happiest Minds provided a detailed note regarding the TDS on Dividend. This document explains the entire process of withholding tax from dividends paid to the shareholders at prescribed rates and includes necessary annexures.The information was communicated to all registered...

Special Window Opens for Transfer and Dematerialization of Physical Securities for T T Ltd Shareholders T T Ltd has initiated a one-year special window allowing shareholders to transfer and dematerialize physical securities that were bought or sold before April 01, 2019. This initiative provides a period for shareholders holding these legacy securities to convert them into dematerialized form.The special window is scheduled to run for a full year, commencing on February 05, 2026, and concluding on February 04, 2027.This facility is designed not only for the transfer of physical certificates but also for previously rejected, returned, or pending transfer requests that were affected by documentation deficiencies or procedural issues...

Sugs Lloyd Ltd Secures Rs 3.37 Crore Order for Critical System Components from Madhya Pradesh Power Utility Sugs Lloyd Limited has received a Letter of Award (LOA) from Madhya Pradesh Paschim Kshetra Vidyut Vitaran Company Limited for a project valued at Rs 3,37,31,718/- (Rupees Three Crore Thirty-Seven Lakh Thirty One Thousand Seven Hundred Eighteen Only). The contract involves the design, supply, installation, testing and commissioning of Fault Passage Indicators (FPI) and related services.The order was awarded by Madhya Pradesh Paschim Kshetra Vidyut Vitaran Company Limited, a domestic entity. Sugs Lloyd Ltd will be responsible for supplying and integrating 11 KV and 33 KV Fault Passage Indicators into the existing and upcoming...

Sunshield Chemicals Ltd Confirms Reappointment of Cyrus Poonevala as Independent Director Sunshield Chemicals Ltd has confirmed the reappointment of Mr. Cyrus Poonevala as an Independent Director, following a resolution passed at its 39th Annual General Meeting held on July 3, 2026. The appointment marks the second term for Mr. Poonevala and is set to become effective from January 15, 2027.The reappointment was made after Mr. Poonevala attended the company's AGM, which was conducted via Video Conferencing (VC) / Other Audio-Visual Means (OAVM).Mr. Poonevala, who holds a background as an experienced Aircraft Engineer, possesses over 30 years of experience in the aviation industry, with a specific focus on Maintenance. His extensive...

Enviro Infra Engineers Secures Contract to Develop 60 MLD Sewage Treatment Plant in Varanasi Enviro Infra Engineers Limited has received a Letter of Acceptance (LOA) for a significant project focused on sewage treatment infrastructure development. The contract award concerns the execution of a major plant at Lohta, Varanasi, Uttar Pradesh.The company will undertake the development of the 60 MLD Sewage Treatment Plant and associated infrastructure in collaboration with Uttar Pradesh Jal Nigam (Rural). This project falls under the Namami Gange Programme and utilizes the Hybrid Annuity Model (HAM) along with Operation & Maintenance (O&M) as the contract nature.The entity awarding the order is domestic, and the company has confirmed...

Banks Powering Economic Growth: Commercial Sector Credit Surges as RBI Manages Market Liquidity The Reserve Bank of India (RBI) has released its latest Bulletin Weekly Statistical Supplement, providing a detailed look into banking sector performance, foreign exchange reserves, and monetary liquidity operations. The data indicates robust credit flow to the commercial sector while highlighting continuous liquidity absorption by the central bank during late June 2026.Banking Sector Credit Demonstrates Strong Momentum The financial health of the Indian economy remains bolstered by steady credit expansion within the banking system. Scheduled Commercial Banks reported strong growth in Bank Credit to the Commercial Sector for the Financial...

SEBI Status Report: Tracking Key IPO Offer Documents Awaiting Observations as Market Gears Up for Listings As of July 3, 2026, SEBI continues to manage the rigorous review process for numerous draft offer documents filed by unlisted companies intending to make an Initial Public Offering (IPO). Under the purview of SEBI’s Issue of Capital and Disclosure Requirements Regulations, 2018, merchants bankers play a critical role in coordinating these filings. This weekly update provides a comprehensive overview of various issues currently undergoing examination by regulatory bodies.Companies Awaiting SEBI Observations on Draft Offer Documents A significant number of companies have filed their draft offer documents with SEBI, and the...

India’s Forex Reserves Slip by $5.65 Billion; RBI Intervention and Gold Declines Pressuring Global Kitty Forex Reserves Dip as Gold Value Falls Amid Market Pressure India's foreign exchange reserves decreased by $5.654 billion, standing at $666.933 billion for the week ending June 26, according to reports from the Reserve Bank of India (RBI). This decline follows a previous reporting week where the reserves had risen by $963 million to $672.587 billion.The drop comes as market pressures continued following the global instability triggered by the West Asia conflict. During this period, the rupee experienced volatility, necessitating interventions by the RBI in the foreign exchange market via dollar sales. This action is part of a...

India Eyes $1 Trillion Exports Target as Commerce Ministry Pushes for 17% Merchandise Surge The Indian government has set an ambitious export target of USD 1 trillion for the current fiscal year, aiming to significantly boost the nation's global trade footprint. Commerce and Industry Minister Piyush Goyal outlined these aggressive goals during a meeting at the Board Of Trade, underscoring India's commitment to becoming a global export powerhouse.The focus remains heavily on merchandise goods, with a target set for substantial growth in this category. The ministry anticipates a 16-17 per cent jump in merchandise shipments, projecting the sector's value to reach USD 530 billion.Services Sector Projected at $470 Billion by FY26-27...

SPR Auto Technologies Releases Business Responsibility Report, Highlighting Sustainability Goals and Operational Scope SPR Auto Technologies Limited, previously known as Shriram Pistons & Rings Limited, has published its Business Responsibility and Sustainability Report (BRSR) for the financial year 2025-26. The report details the company's operations, product scope, employee engagement metrics, and commitment to environmental stewardship across its various manufacturing processes.The company specializes in the manufacture of parts and accessories for motor vehicles. Its core product line includes Pistons, Piston Rings, Piston, Pins, Engine Valves, and Cylinder Liners, which accounts for 100% of the entity's turnover.Operational...

Knack Packaging IPO Registers 83x Subscription as Demand Surges for Manufacturing Expansion Knack Packaging IPO Garners Robust 83.3 Times Subscription on Day Two Bidding The initial public offering (IPO) of Knack Packaging Ltd, an integrated packaging solutions provider, witnessed a significant surge in interest on the second day of bidding. The company's Rs 439.5-crore IPO was subscribed at 83.3 times across all categories, as reported by NSE data.The offering included a total of 1,58,02,77,248 shares against which 1,89,64,018 shares were offered. The robust response indicates strong market confidence in the packaging solutions segment.High Investor Demand Across All Categories Investor enthusiasm was evident across all investor...

BIL Vyapar Limited to hold fifteenth Committee of Creditors meeting on July 3, 2026 BIL Vyapar Limited (formerly Binani Industries Limited) has announced that its fifteenth meeting of the Committee of Creditors will be held on Friday, July 3, 2026.The meeting is scheduled for BIL Vyapar Limited under the Corporate Insolvency Resolution Process (CIRP).BILVYAPAR Stock Price Movement BIL VYAPAR LIMITED shares gained sharply today, finishing the session with an indicative close of ₹4.24 after edging up 4.93%. The stock fluctuated throughout the day on a trading volume of 16,201 shares, ranging between a low of ₹4.12 and a high of ₹4.26.

Happiest Minds Technologies Unveils Business Responsibility Report, Highlights ESG Initiatives for FY 2025-26 Happiest Minds Technologies Ltd has released its comprehensive Business Responsibility and Sustainability Report for the Financial Year 2025-26. The report provides an in-depth look into the company’s operational footprint, human capital management, commitment to sustainability, and governance structure across various business dimensions.The company operates in information and communication services, with computer programming, consultancy, and related activities accounting for 100% of its turnover. Happiest Minds serves a diverse client portfolio exceeding 300 global customers, including multinational corporations, Fortune 500...

Manappuram Finance Limited Announces Resignation of CEO Deepak Reddy Manappuram Finance Limited has announced that Mr. Deepak Reddy has resigned from his position as Chief Executive Officer and Key Managerial Personnel. The resignation was submitted on July 03, 2026, with the stated reason being to pursue other personal and professional interests.The company confirmed that Mr. Reddy will be relieved of his duties with effect from the close of business hours on December 31, 2026. During this period leading up to his cessation, he will remain on garden leave.This transition involves the departure of the key managerial figure, as outlined in the details provided by Manappuram Finance Limited. The company confirmed that Mr. Deepak Reddy...

SJ Corporation's Consolidated Results Receive Audit Affirmation for Fiscal Year 2026 SJ Corporation Ltd has received an audit opinion on its consolidated financial results for the year ended March 31, 2026. The findings address previous observations regarding discrepancies in the presentation of these financial statements.The audited report covers the consolidated financial results of SJ Corporation and its subsidiary, Fishfa Rubbers Limited. The auditors stated that based on their examination, the Consolidated Financial Results for the year ended March 31, 2026 give a true and fair view in conformity with the recognition and measurement principles laid down in the Indian Accounting Standards and other generally accepted accounting...

Peter Bains Resigns as Managing Director and CEO of Syngene International Limited Peter Bains has resigned from his position as Managing Director and Chief Executive Officer (CEO) of Syngene International Limited, effective at the close of business hours on June 30, 2026.The resignation was formalized in a letter dated March 26, 2026, addressed to the Chairman of the Board of Directors.In his resignation communication, Mr. Bains stated that he remained fully committed to ensuring a smooth leadership transition and pledged to continue discharging his responsibilities with dedication during this period.He reflected on his tenure at Syngene International Limited, noting it had been a privilege to lead the organization and contribute...

Rajiv N. Sheth Appointed as Non-Executive Independent Director at Man Infraconstruction Limited Man Infraconstruction Limited has appointed Mr. Rajiv N. Sheth as an Additional Director in the category of a Non-Executive Independent Director. This appointment was approved by the Board of Directors following a resolution passed by circulation on July 03, 2026.Mr. Sheth will serve for a period of five consecutive years, effective from July 03, 2026. The appointment is subject to the approval of the Members of the Company.The Board's decision was made based on the recommendation of the Nomination and Remuneration Committee of the company. Mr. Sheth holds a Bachelor's degree in Commerce from the University of Mumbai and is a Chartered...

HUDCO to Provide Up to Rs 1,00,000 Crore in Term Loans for Bihar's Urban Infrastructure Projects Housing and Urban Development Corporation Limited (HUDCO) signed a Memorandum of Understanding (MoU) with the Government of Bihar on July 3, 2026, in Patna. This agreement is designed to facilitate the planning, development, and financing of proposed Greenfield Satellite Cities across Bihar in a time bound manner, adhering to state government rules and regulations.Under the terms of the MoU, HUDCO commits to provide term loans amounting to Rs 1,00,000 Crore (Rupees One Lakh Crore) over a period of five years. These funds are designated for various urban infrastructure projects, including crucial land acquisition efforts within the state...