Markets

RBI Slams GIC Housing Finance with Penalty as KYC Compliance Lapses Surface The Reserve Bank of India (RBI) has imposed a significant monetary penalty on GIC Housing Finance Limited. The company was penalized ₹3.10 lakh following non-compliance issues related to specified provisions within the 'Reserve Bank of India (Know Your Customer (KYC)) Directions.'This regulatory action was finalized by RBI under an order issued on June 24, 2026. The penalty highlights continued vigilance by the central bank regarding compliance standards among financial institutions operating in the housing finance sector.Deficiency in Risk Management and Compliance Standards The penalty stems from statutory inspection conducted by the National Housing Bank...

Manak Gupta Promoted to Managing Editor at News24 Broadcast India Limited BAG Network announces that Mr. Manak Gupta has been promoted to the position of Managing Editor for News24 Broadcast, effective immediately.The promotion comes as part of B.A.G. Films and Media Limited's move to reinforce its commitment to innovation and operational excellence within its subsidiary, News24 Broadcast India Limited.Mr. Gupta, a long-standing member of the organization since 2010, brings extensive experience to his new role. He has garnered over 15 years of anchoring expertise, combining on-screen knowledge with strong editorial judgment and leadership capability.In addition to his editorial duties, Mr. Gupta is associated with the flagship...

RNIT AI Solutions Approves Key Appointments, Announces General Meeting Date After Board SessionThe Board of Directors of RNIT AI Solutions Ltd., during a meeting held on July 3, 2026, considered and approved several significant corporate developments, including the appointment of a senior management personnel and decisions pertaining to the company's forthcoming general meeting.The company also approved the proposal to shift its Registered Office from Rajasthan to Telangana, subject to necessary regulatory approvals. Furthermore, the Board reviewed and approved the financial statements and report of Directors for the financial year 2025-26.A key operational decision was the appointment of Mr. Pradeep Yalamanchili as Vice President...

Vesuvius India Ltd States That Increased Share Volume Is Market DrivenVesuvius India Ltd has issued a clarification regarding the significant increase in the volume of its security across exchanges. The company addressed inquiries concerning the sharp rise in trading activity for its shares, stating that the increased volume is primarily due to general market conditions and is entirely market driven.In response to the query, Vesuvius India emphasized that it provides all relevant operational and performance information related to the Company to regulatory bodies in a timely and accurate manner.The company asserted that management has always strived to provide necessary clarification as required by regulatory mandates. As such, the...

Spectra Industries Ltd Announces 27th Meeting of Committee of Creditors Spectra Industries Limited has scheduled its 27th Meeting of the Committee of Creditors. The meeting is set for Friday, July 03, 2026, and will be conducted via Video Conference through the Webex application.The agenda items slated for consideration at the meeting include taking note of the process update provided by the Resolution Professional. Furthermore, attendees are expected to consider, discuss, and approve the renewal of the insurance policy for the Corporate Debtor. The meeting will also allow discussion on any other matters with the permission of the Chair.A key item requiring input from the Committee is the consideration, discussion, and approval of...

Central Bank of India Releases Revised Provisional Business Figures for Q1 FY 2026-27Central Bank of India has released its revised provisional business figures for the first quarter of the fiscal year 2026-27. The data provides comprehensive metrics across total business, deposits, and advances as of March 30, 2026, alongside previous periods for comparative analysis. All financial figures are presented in ₹ Crore.The bank's overall performance saw strong growth in both Total Business and Gross Advances. Total Business stood at 833,790 during the provisional period (Q1 FY 2026-27). Similarly, Gross Advances reached 354,895 in this quarter.Deposits metrics showed consistent movement, with Total Deposits rising to 478,895. The CASA...

Fermenta Biotech Secures FSSAI Approval for Vitamin D3 Plant Source Product Fermenta Biotech Limited has received formal approval from the Food Safety and Standards Authority of India (FSSAI) for its product, Vitamin D3 (Cholecalciferol) -Plant Source.The product, which is also marketed as VITADEE Green®, was developed and manufactured in India. This achievement supports the national Make in India vision while strengthening India's self-reliance capabilities within the nutrition solutions sector.The FSSAI approval for this Vitamin D3 (Cholecalciferol) -Plant Source underscores Fermenta Biotech's commitment to developing indigenous, high-quality nutritional products.FERMENTA Stock Price Movement Fermenta Biotech Limited shares shed...

Thermax Releases Business Responsibility and Sustainability Report for FY 2025-26 Thermax Limited has released its comprehensive Business Responsibility and Sustainability Report (BRSR) for the financial year 2025-26. The report details the company’s performance across environmental, social, and governance (ESG) parameters, providing insights into operational efficiency, employee welfare, and commitments to sustainability initiatives.The BRSR outlines Thermax Limited’s operations and contributions to sustainable development, with the company maintaining a focus on energy transition and resource stewardship as part of its ongoing strategic efforts.Operational Scope and Market Presence Thermax Limited operates across both national and...

ITI Limited Completes Acquisition of 21 Acres Land in Bengaluru from CGST; Mortgage Released ITI Limited has successfully finalized the acquisition and registration of a land parcel measuring approximately 21 acres in K.R. Puram, Bengaluru, completing a transaction with the Central Goods and Services Tax Department (CGST), Government of India.The total sale consideration for the said land parcel was Rs. 914.31 Crores, as finalized and approved by NLMC. This acquisition involved ITI Limited procuring the property from the CGST East Commissionerate, Bengaluru.Prior to the sale, the land parcel had been mortgaged in favor of SBICAP Trustee Company Limited, which acted as Security Trustee on behalf of a consortium of lending banks. The...

Fire Breaks Out at GSP Crop Science Ltd Factory Unit in Ahmedabad A fire incident occurred at the factory unit of GSP Crop Science Ltd in Ahmedabad, Gujarat. The fire erupted on Thursday, July 2, 2026, around 9:30 PM and required immediate attention from the company’s operational teams.The incident took place at Factory Unit No. 1, located in Odhav, Ahmedabad. A portion of the packing material store area was affected by the blaze. The damage includes raw materials, packing materials, and one FFE machine.Company officials confirmed that the fire was controlled within a timely manner, and there were no injuries or casualties reported among personnel.Assessment and Mitigation Efforts GSP Crop Science Ltd stated that they are...

Veljan Denison Ltd States No Material Events Drive Stock Price Movement Veljan Denison Ltd has issued a statement confirming that there are no material events or information related to the company's operations and performance that warrant disclosure following recent stock price movements.The company affirmed that there is no material event, information, or any other price sensitive development that could account for the movement in its equity shares. Veljan Denison stated that the share price movement is purely market driven, and the company is unaware of any specific reason attributable to it.The statement addressed questions regarding the stock's price fluctuation, reiterating that management has no pending announcements or...

CFF Fluid Control Ltd Secures Rs 2.45 Crore Contract from Indian Navy CFF Fluid Control Limited has received a significant contract valued at approximately Rs 02.45 Crores (including tax) to procure various equipment for the Naval forces of India. The order was awarded by the Material Organisation of the Indian Navy, solidifying the company's position in defense procurement.The contract involves the procurement of specialized equipment designated for a Navy Various Program. The total value of the order stands at Rs 02.45 Crores and is domestic in nature. CFF Fluid Control Ltd is scheduled to complete the delivery of these items by December 2027.The key details of the contract, awarded by the Material Organisation (Indian Navy), are...

Dabur Projects Double-Digit Q1 Profit Surge as Price Resilience Counteracts Inflationary Pressure Dabur India has signaled a robust financial future, expecting a double-digit rise in its first-quarter profit after tax. The forecast is underpinned by effective price increases implemented across key markets, which successfully cushioned the negative impact of elevated inflation and supported operating margins throughout the period.The company reported that despite facing challenges from a complex geopolitical backdrop and hyperinflationary pressures in its core consumer markets, consumer sentiment remained resilient. Dabur noted a clear sequential business trajectory improvement quarter-on-quarter, reflecting strong brand loyalty across...

Man Infraconstruction Limited Appoints Mr. Rajiv N. Sheth as Non-Executive Independent Director Man Infraconstruction Limited has appointed Mr. Rajiv N. Sheth as an Additional Director in the category of Non-Executive Independent Director. The appointment was approved by the Board of Directors, based on the recommendation of the Nomination and Remuneration Committee, and is effective from July 03, 2026.Mr. Sheth will serve a term of five consecutive years in this role. His appointment is subject to the approval of the Members of the Company and he is not liable to retire by rotation.The Board approved the appointment through a resolution passed by circulation on July 03, 2026.Director Profile and Expertise Mr. Rajiv N. Sheth...

Rotographics Appoints Raj Ratan Pugalia as Chief Financial OfficerRotographics (India) Limited has appointed Mr. Raj Ratan Pugalia as its new Chief Financial Officer. The appointment was formalized by the Board of Directors and is effective from June 29, 2026.The company stated that Mr. Pugalia will serve as CFO until resignation or termination in accordance with applicable laws and corporate policies.Mr. Pugalia brings extensive experience to the role. He is a Chartered Accountant and holds an LL.B. degree from Calcutta University. His professional background spans over 32 years, encompassing multiple leadership positions across various industries.In his career, he possesses significant expertise in finance, accounting...

Innovision Limited Corrects Commercial Consideration for NHAI Fee Plaza Contract Innovision Limited has provided a correction regarding the Broad Commercial Consideration associated with its engagement as the User Fee Collection Agency for the Sirohi Bahali Fee Plaza, awarded by the National Highways Authority of India (NHAI). The company confirmed that the correct size of the contract is ₹102,27,29,635/- (Rupees One Hundred Two Crore Twenty-Seven Lakh Twenty-Nine Thousand Six Hundred ThirtyFive Only).The corrected amount supersedes the previous disclosure where the consideration was inadvertently mentioned as ₹4,20,30,000/-.The contract details relate to Innovision’s role in managing the fee plaza and associated infrastructure...

IP Rings Ltd. to Hold Board Meeting for Unaudited Financial Results; Imposes Trading ClosureIP Rings Ltd. has scheduled a meeting of its Board of Directors to consider and approve the Unaudited Financial Results (Standalone & Consolidated) for the quarter ending June 30, 2026. The company's board is set to meet on Thursday, August 13, 2026, to review these financial results.In addition to scheduling the board meeting, the company has implemented a trading window closure concerning its securities. The restriction applies to Promoters, Directors, other connected persons, and designated employees of IP Rings Ltd.The ban on trading commenced from July 01, 2026. This restricted period will remain in effect until the expiry of 48 hours...

Sheel Biotech Limited Appoints Satbir Singh as Chief Financial Officer Sheel Biotech Limited has appointed Mr. Satbir Singh as its Chief Financial Officer (CFO) and Key Managerial Personnel. The appointment was formalized by the Board of Directors during a meeting held on July 3, 2026, based on recommendations from the Nomination and Remuneration Committee and the Audit Committee.Mr. Satbir Singh assumes the role effective immediately, bringing extensive experience in financial management to the company.A seasoned finance professional, Mr. Satbir Singh is a Chartered Accountant with over 16 years of expertise across various facets of corporate finance and accounting. His core competencies cover financial planning and reporting...

KCK Industries Approves Preferential Share Issue and Strategic Demerger of Land Assets to Subsidiary KCK Industries Limited, in a significant corporate move, announced on July 3, 2026, the approval of several key strategic decisions by its Board of Directors. The approvals cover a major preferential equity issue, a scheme for transferring land assets to a wholly owned subsidiary, changes in company addresses, and updates regarding key managerial personnel appointments.The Board sanctioned an offer for up to 25 million equity shares through a Preferential Issue, subject to shareholder approval via a Special Resolution. These shares, which have a face value of Rs. 2/- each, are available at an issue price of Rs. 20/- per share. This...

Schaeffler India Becomes First Industry Entity to Secure BIS License for Cylindrical Roller Bearings Schaeffler India Limited, a prominent motion technology company, has secured the Bureau of Indian Standards (BIS) license for Cylindrical Roller Bearings (CRB) at its Maneja and Savli plants. This certification marks a significant first both for Schaeffler and for the broader bearing industry in India. The plants have been awarded the BIS license for CRB, making them the first in the Indian Bearing Industry to achieve this status. Furthermore, both locations have also received the BIS license for Deep Groove Ball Bearings (DGBB).These new certifications highlight Schaeffler India's dedication to quality and manufacturing excellence...