Markets

Suryoday SFB Targets Forex Expansion, Planning AD-1 License Application Amid Microfinance "Clean-up" Suryoday Small Finance Bank is making significant strategic moves, with the bank planning to apply for the Authorised Dealer Category-1 (AD-1) license in Fiscal Year 2027. This move signals an intent to penetrate the foreign exchange market and offer specialized products such as Foreign Currency Non-Resident Bank (FCNR-B) deposits.Managing Director & CEO R Baskar Babu stated that obtaining this license is a necessary step for the bank's growth trajectory. AD-1 certification allows small finance banks to conduct various permissible capital and current account transactions. Suryoday SFB aims to join a select group of institutions, which...

InterGlobe Aviation Limited Allots Shares Under Employee Stock Option Scheme 2023 InterGlobe Aviation Limited has finalized the allotment of shares arising from the exercise of vested stock options under its Employee Stock Option Scheme 2023. The decision was approved by the company's ESOP Allotment Committee during a meeting held on July 7, 2026.The allotment pertains to Equity Shares issued under the InterGlobe Aviation Limited Employee Stock Option Scheme 2023.Key details regarding this share issuance are as follows:ParticularsDetailsScheme TitleInterGlobe Aviation Limited Employee Stock Option Scheme 2023Type of SecurityEquity SharesPar Value per ShareRs. 10/-Date of Allotment/IssueJuly 7, 2026Shares Issued in...

SBEC Sugar Ltd Secures Inter-Corporate Loan of Rs 5 Crores from Priyadarshini Polysacks Limited SBEC Sugar Ltd has entered into an inter corporate loan agreement with Priyadarshini Polysacks Limited to avail financial assistance. The agreement was executed on July 7, 2026.The transaction involves SBEC Sugar Ltd receiving unsecured financial assistance from Priyadarshini Polysacks Limited. Under the terms of the agreement, the total amount of financial assistance is Rs 5 Crores (Five Crores Rupees Only). The loan period is defined by the closing date as per the repayment schedule.Key details regarding this loan transaction are summarized below:AspectDetailLenderPriyadarshini Polysacks LimitedPurpose of LoanTo avail...

Apollo Micro Systems Stock Plummets as Profit Booking Hits Defense Ancillary Firm After Rs 3,322 Cr Fundraise Approval Apollo Micro Systems saw a significant downturn in its share price on Tuesday, declining by over 5 percent. The fall follows the company's announcement of a major fund-raising plan, which reportedly led investors to book profits after the stock had recently rallied. The defence electronics firm is one of the stocks seeing considerable volatility as it manages this capital expansion.The decline placed Apollo Micro Systems among the top losers on the BSE Smallcap index. Investors reacted negatively following the news of the board approving the fund-raising proposal. Despite the recent drop, the stock remains strong year...

NCLT Sanctions Amalgamation Scheme: India Radiators Ltd and Mercantile Ventures Limited Merge Operations The National Company Law Tribunal (NCLT) has sanctioned the Scheme of Amalgamation between India Radiators Limited (Transferor Company) and Mercantile Ventures Limited (Transferee Company). The approval was pronounced by the NCLT, Division Bench (Court-I), Chennai, on 02 July 2026.The Scheme involves the consolidation of both Petitioner Companies. The rationale provided for the amalgamation includes significant cost reductions, improved operational efficiency, and achieving economies of scale within a centralized structure. Benefits are expected to come from eliminating duplicate work, reducing overheads, enhancing resource...

Philippine Airlines Partners with RateGain to Boost Competitive Pricing Intelligence RateGain Travel Technologies Limited has announced a partnership with Philippine Airlines (PAL), the Philippines' flag carrier, to implement AirGain, RateGain's next-generation AI-powered pricing intelligence platform. The collaboration aims to modernize PAL's pricing capabilities across its global network by utilizing real-time competitive data analysis.Through this strategic alliance, Philippine Airlines will use AirGain to track competitive fares across both direct and indirect channels, enabling faster, more data driven pricing decisions throughout the airline’s operations.A key component of the collaboration is the implementation of AirGain's...

Deep Industries Secures Letter of Award from Oil and Natural Gas Corporation for Charter Hiring Services Deep Industries Limited has secured a significant business opportunity, receiving a Letter of Award from Oil and Natural Gas Corporation Limited. The contract involves providing charter hiring services for Natural Gas Compression at the GGS Paliyad asset in Ahmedabad.The agreement spans a period of five years, with an estimated total value amounting to INR 49.10 crores. This award solidifies Deep Industries' position in specialized industrial service provision within the domestic market.Key details of the contract awarded by Oil and Natural Gas Corporation Limited are summarized below:DetailInformationAwarding EntityOil...

CRISIL Affirms "A1+" Rating on Godrej Agrovet's Rs. 1,500 Crore Commercial Paper Programme Godrej Agrovet Limited has received a rating affirmation from CRISIL regarding its commercial paper programme. The rating was issued based on the company’s financial strength and is described as indicating very strong safety concerning timely payment of financial obligations.CRISIL confirmed the "A1+" rating for Godrej Agrovet's Commercial Paper program, which is valued at Rs. 1,500 Crore. This designation signifies that securities carrying this rating are considered to possess a low credit risk and offer a very strong degree of safety regarding the timely fulfillment of financial obligations.The key details of the rating are as follows...

NCLT Sanctions Scheme of Amalgamation between India Radiators Limited and Mercantile Ventures Ltd The National Company Law Tribunal (NCLT), Division Bench at Chennai, has sanctioned the Scheme of Amalgamation involving India Radiators Limited (the Transferor Company) and Mercantile Ventures Limited (the Transferee Company). The order was pronounced by the Hon'ble NCLT on July 2, 2026.The scheme consolidates both companies under the jurisdiction of the Tribunal, providing a structure intended to streamline operations and enhance market presence for the merged entity.Scheme Details and Rationale The amalgamation is proposed under Sections 230 to 232 of the Companies Act, 2013. The Appointed Date specified in the scheme is January 1...

Kospi Plummets Over 8% Amid AI Stock Frenzy, Tech Giants Face Heavy Selling Pressure The South Korean stock market experienced a significant downturn on Tuesday, with the benchmark Kospi index falling sharply. The market witnessed renewed selling across technology stocks, fueling investor concerns that rapid gains in artificial intelligence (AI) may be outpacing fundamental growth.Tech Stocks Under Siege as AI Valuation Concerns Rise The Kospi dipped by 8.18 percent, settling at 7,392.04 in Seoul. This steep decline was heavily influenced by sharp losses among heavyweight chipmakers, namely Samsung Electronics and SK Hynix. Investors are increasingly questioning whether massive investments into AI chips and data centers will translate...

Ceigall Secures Key Highway Project in Madhya Pradesh with Appointed Date Declared Ceigall India Ltd has confirmed that its subsidiary, Ceigall Indore Ujjain Greenfield Highway Limited, has been informed of the official appointed date for a major highway construction project in Madhya Pradesh. The project is set to commence under Hybrid Annuity Mode (HAM).The declaration comes following notification from the Madhya Pradesh Road Development Corporation Ltd., confirming that July 6, 2026, serves as the Appointed Date for the undertaking.The project involves the construction of a crucial infrastructure link within the state. The details of the highway project are as follows:FeatureDetailsProject NameConstruction of Indore Ujjain...

TARC Limited Reports Robust Q1 FY27 Results, Driven by Strong Presales and Collections Growth New Delhi, July 7th, 2026: TARC Limited, a leading Luxury Residential Real Estate Developer based in New Delhi, has announced operational updates for the quarter ended June 30, 2026. The company reported significant growth in both presales and collections across its luxury residential portfolio, reflecting strong demand and disciplined execution momentum.TARC noted that sustained traction across its developments is being driven by differentiated product offerings and committed execution standards.The operational highlights for the first quarter of FY27 include:Presales: Quarterly presales reached ₹602 crore, marking a 3x increase...

Gangotri Textiles Ltd Announces Board Meeting to Approve Quarter End Financial Results Gangotri Textiles Ltd has scheduled a meeting of its Board of Directors to review and approve the un-audited financial results for the quarter that ended on June 30, 2026. The company issued a notice convening the meeting which is set to take place next month.The board meeting is scheduled for Friday, July 24, 2026, at 10:00 a.m. The gathering will be held at the company's registered office and conducted via Video Conferencing.During the meeting, among other items on the agenda, directors will consider and approve the un-audited financial results of Gangotri Textiles Ltd for the quarter ending June 30, 2026. The Managing Director of the company is...

IPO Setback: K Raheja Corp Delays $700 Million Listing Amid Volatile Markets K Raheja Corp Pvt., one of India’s major real estate developers, has decided to postpone plans for a substantial initial public offering (IPO). This decision comes following consultations and feedback received from investment bankers, according to sources familiar with the matter. The Mumbai-based corporation, which had been exploring a potential $700 million listing back in January, chose to delay the sale by at least one year.Reasons Behind K Raheja Corp's IPO DelayThe postponement follows internal discussions regarding the optimal timing and valuation for the potential share offering. Sources informed that the company intends to revisit the IPO strategy...

BTC Holds Above $63,000 as Bitcoin Recovers Despite Major Institutional Selling Spree Bitcoin (BTC) demonstrated resilience in early trading after a sharp volatility spike triggered by Strategy’s sale of 3,588 BTC. The cryptocurrency briefly dipped toward $61,000 following the announcement but buyers quickly stepped in to support the price. At 10:13 IST, Bitcoin was trading at $63,143.10, showing a marginal decline of 0.05 percent over the past 24 hours, yet it remains significantly up 6.17 percent over one week.Bitcoin's Resilience Amid Institutional Selling Pressure The market volatility led to nearly $500 million in liquidations across leveraged positions within the last day, according to Akshat Siddhant, Lead quant analyst at...

Geopolitical Surge: Indonesia Vows Massive Security Boost as Delhi Deals Advanced Missiles and Strategic Ports Indonesia is making a significant pivot in its defense strategy, choosing to bolster its security reliance on New Delhi. Key agreements are reportedly set to be finalized during Prime Minister Modi's two-day visit to the nation. These deals encompass advanced military hardware, strategic port development, and crucial industrial investments.The focus of the potential breakthroughs includes securing India’s high-performance Astra air-to-air missiles. Sources indicate that Indonesia has chosen this path following the demonstrable success of India’s missile capabilities during Operation Sindoor. This move allows integrated...

Vedanta Stumbles: Three Key Group Stocks Plunge Amid Sharp Decline in Oil Gas and Raw Material Output Three recently-listed stocks within the Vedanta Group witnessed a continuous period of profit booking on July 7, declining by up to 5%. The share prices of several subsidiaries are currently facing headwinds following updates regarding their production levels across core sectors.On the day, Vedanta Oil and Gas declined 5.2% to Rs 36.91 apiece. Shares of Vedanta Iron and Steel and Vedanta Power also fell significantly, registering declines of 5% and 2.7%, respectively. Meanwhile, Vedanta Aluminium was trading lower, witnessing a 4% dip in the market.Vedanta Oil & Gas Production Declines Significantly Vedanta Oil and Gas reported...

Rajshree Polypack Secures Order Worth ₹ 2.07 Crore from Large Packaging Manufacturer Rajshree Polypack Limited has secured a new contract involving the supply of Plastic Rigid Sheets, marking a significant order fulfillment for the manufacturer of plastic rigid sheets and thermoformed packaging products.The transaction details indicate that the order is a repeat business opportunity originating from a domestic entity—a large packaging manufacturer listed on an Indian Stock Exchange, which is reportedly majorly owned by a Finnish-based packaging giant.Key details regarding the contract include:Nature of Transaction: Supply of Plastic Rigid Sheets. Customer Type: Domestic Entity (A large listed packaging manufacturer). Order Value...

Shantaben Sureshbhai Patel Sells Shares in RR MetalMakers India Ltd Shantaben Sureshbhai Patel has sold shares of RR MetalMakers India Ltd, representing a portion of his holding in the company, according to transaction details released concerning the target entity.The sale involved 12,455 shares carrying voting rights in RR MetalMakers India Ltd. This transaction accounted for 0.13 percent of the total share or voting capital of the company.The acquisition details provided illustrate the changes in the company’s shareholding structure following the sale by Shantaben Sureshbhai Patel. The company, RR MetalMakers India Ltd, had an equity share capital/total voting capital of 90,08,824 shares of Re. 10/- each before this transaction...

RITES Surges on $35 Million Global Loco Order as Infrastructure Demand Skyrockets RITES shares witnessed a significant rally in the market after securing a major international order for railway rolling stock. The company’s stock rose sharply following the acceptance of an offer from Volantis Asset Finance (Pty) in South Africa. This contract involves the supply and commissioning of 4,000 HP Cape Gauge diesel-electric locomotives.RITES Secures Multi-Million Dollar Locomotive Contract The international order for the locomotive supply is valued at $35.82 million, which translates to approximately Rs 300 crore. RITES will execute this contract over a period of 20 months. This substantial order highlights the company's growing capability...