Markets

Manglam Global Corporations Acquires 100% Stake in Manglam Food Products, Forms Wholly Owned Subsidiary Manglam Global Corporations Ltd, formerly Kshitij Investments Limited, has successfully acquired a 100% stake in Manglam Food Products Private Limited. The acquisition establishes Manglam Food Products as a wholly owned subsidiary of the parent company.The transaction was completed through cash consideration. The cost of the acquisition or the price at which the shares were bought amounts to Rs. 6,00,00,000 for 60,00,000 equity shares of Manglam Food Products Private Limited, each valued at Rs. 10/-.Manglam Food Products Private Limited was incorporated on March 24, 2026. The company was formed through the conversion of the...

SEBI Imposes Penalty and Restrictions on Promoters of Shanti Educational Initiatives Ltd Shanti Educational Initiatives Ltd has confirmed that the Securities and Exchange Board of India (SEBI) issued a final order concerning its promoters, Mr. Vedprakash Devkinandan Chiripal and Mrs. Savitridevi V Chiripal. The order imposes monetary penalties and restrictions on them related to their activities in the securities market.The SEBI Final Order was dated June 30, 2026, affecting 226 entities, including the promoters of Shanti Educational Initiatives Ltd.As per the details provided, the SEBI has imposed a penalty of Rs. 5,00,000/- on each promoter. Furthermore, both Mr. Chiripal and Mrs. Chiripal have been restrained from accessing the...

Capacit'e Infraprojects Announces 14th AGM and Releases Annual Report for FY 2025-26Capacit'e Infraprojects Limited has scheduled its 14th Annual General Meeting (AGM) for shareholders, coinciding with the release of the Annual Report for the Financial Year (FY) 2025-26. The AGM is set to be held on Friday, July 24, 2026, at 3:00 p.m. (IST).The meeting will be conducted via Video Conferencing (VC) or other Audio-Visual Means (OAVM). Members have access to the Annual Report and the AGM Notice for FY 2025-26 on the company's website.Key dates related to shareholder participation in the upcoming general meeting are detailed below:E-voting ScheduleCut off date to determine entitlement of e-votingFriday, July 17, 2026E-voting...

Medi Assist Completes Acquisition of Additional Stake in UK Subsidiary Mayfair We Care Limited Medi Assist Healthcare Services Limited has completed the acquisition of an additional stake in its UK subsidiary, Mayfair We Care Limited, effective July 1, 2026. The completion followed an approved investment intended to increase the company's control over the entity.The company acquired an additional 31.75% of the issued share capital of Mayfair through a share transfer from existing shareholders. This acquisition included 1,270 ordinary shares. The total consideration paid for this stake amounted to Rs. 7,56,79,379.98, which was equivalent to GBP 589,270 as of the remittance date.The completed transaction significantly boosted Medi...

Tech Mahindra Subsidiary Acquires Brazilian IT Firm in Strategic Move with Orange Business Tech Mahindra Servicos De Informatica S.A, a wholly-owned subsidiary of Tech Mahindra Limited, has completed the acquisition of Alyis Serviços Técnicos LTDA, establishing a key strategic move within Latin American operations. The transaction was finalized on 1 July 2026 and involves a Quota Purchase Agreement signed with Orange Business Services Brasil LTDA ('Orange').Following the completion of the acquisition, Alyis Serviços Técnicos LTDA will become a wholly-owned stepdown subsidiary of Tech Mahindra Limited. This move solidifies the company's presence in the IT services market within the Latin American region.The acquisition is part of a...

Texmaco Rail Secures Two Major Domestic Orders Valued at Rs 351.16 Crore Texmaco Rail & Engineering Limited has received two substantial orders from domestic clients, bringing in a combined contract value of Rs 351.16 Crore. The contracts involve the manufacture and supply of specialized rail components and wagons for the railway industry.The company secured one significant order from JSW (South) Rail Logistics Private Limited and another order from Sushila Transport Private Limited. Both contracts are domestic in nature, with specific requirements and delivery timelines set out.The details pertaining to both orders, including the client name, scope of work, and financial consideration, are as follows:ParticularsJSW (South) Rail...

Wall Street Recoils as Fed Chair Warsh Reaffirms Aggressive Fight Against Inflation Ahead of Key Jobs Report US equities retreated following a turbulent session on Wednesday after Federal Reserve Chair Kevin Warsh strongly emphasized the commitment to controlling inflation. Speaking alongside other central bankers, Warsh stressed that his committee is fully committed to restoring price stability and bringing inflation back to the Fed's two percent target.Warsh echoed this pledge during a press conference last month following his initial meeting as chairman. This firm stance comes ahead of Thursday's release of critical US jobs data. Analysts anticipate the U.S. economy added 110,000 jobs last month, with the unemployment rate holding...

Banks Surge as Q1 Results Drive Market Rally Amid Major Pharma Approvals and Retail Boom Quarterly Financial Performance Review: Sector Leaders Impress Q1 results reveal strong growth across several key banking institutions. Punjab & Sind Bank saw its total business expand by 15.33% to reach Rs 2.67 lakh crore, with gross advances soaring by 19.5% to Rs 1.19 lakh crore. The bank’s CASA ratio also improved to 81.18%, indicating healthy deposit mobilization.Indian Bank posted a significant jump in total business, which rose by 13.6% to Rs 15.28 lakh crore. Gross advances for the state-owned lender grew by 13.9% to Rs 6.85 lakh crore. Domestic CASA ratio improved marginally to 39.64%, maintaining a solid foundation of customer deposits...

Apeejay Surrendra Park Hotels Faces Tax Demand of Rs 41 Crore Over Assessment for AY 2024-25 Apeejay Surrendra Park Hotels Limited has received an Assessment Order from the Income Tax Department concerning its scrutiny assessment for the Assessment Year (AY) 2024-25. The order involves certain additions and disallowances made in the company's filed return, resulting in a tax demand of Rs 41,06,72,530/-, which includes applicable interest.The Income Tax Department, Assessment Unit (Faceless Assessment), issued the Assessment Order on July 1, 2026. This action was initiated against the company regarding its income tax matters for AY 2024-25.Key details of the assessment and resulting demand include:ParticularsDetailsAuthority...

Retail Investors Surge into Equities, Pumping ₹35,328 Crore Amid Market Rallies Retail investors have significantly increased their participation in Indian equities during the recent quarter, absorbing supply from foreign institutional sellers and fueling a robust domestic market rally. This buying spree, which saw retail investors deploy shares worth ₹35,328 crore across April, May, and June, marks one of their biggest quarterly purchases since the December 2024 period.The increased domestic inflow contrasts sharply with earlier in-year trends. Since the start of 2025, retail activity had been subdued, with investors selling shares worth ₹25,615 crore and buying only around ₹2,750 crore in the first three months of 2026.Market...

Bharti Airtel Issues Reminder Notice for First and Final Call on Partly Paid-up Equity Shares Bharti Airtel Limited has issued a reminder notice regarding the payment of the First and Final Call on its partly paid-up equity shares. The notice addresses shareholders holding outstanding shares that have not yet paid the specified call amount.The notification confirms that while 391,176,994 partly paid-up equity shares were successfully received and converted into fully paid-up shares by the company during the initial payment period ending March 18, 2026, a balance of 1,110,668 partly paid-up equity shares remains outstanding for which the First and Final Call is due.The Special Committee of Directors for Rights Issue, an authorized...

Federal Reserve chief WARSH Defies Political Noise, Pledges Commitment to 2% Inflation Target Amid Geopolitical Shifts Federal Reserve Chairman Kevin Warsh reiterated Wednesday that the U.S. central bank remains resolutely committed to its 2% inflation target, maintaining a hawkish stance despite renewed calls for interest rate reductions from political figures. Speaking at an annual policy forum hosted by the European Central Bank in Portugal's Sintra, Warsh stressed that the Fed’s independence remains intact and will not yield to external pressures regarding monetary policy direction.Warsh noted that while inflation risks have eased recently, the central bank still has substantial work ahead to achieve its stated objective. He...

IFGL Refractories Completes Voluntary Liquidation of Czech Subsidiary IFGL Refractories Limited has completed the voluntary liquidation of its step-down subsidiary, M/s Hofmann Ceramic CZ s.r.o, which is based in Czech Republic. The liquidation was made effective on July 1, 2026.Following the completion of the process, the name of the subsidiary was deleted from the Commercial Register maintained at the Regional Court in Pilsen, Czech Republic.The financial parameters for Hofmann Ceramic CZ s.r.o as of March 31, 2026, are detailed below:Financial ParticularsAmount (Rs in lacs)Percentage of ConsolidationTurnover/Revenue17.160.00%Income/Net Worth1.430.00%The liquidation is effective as of July 1, 2026. The company...

Exchanges Grant No-Objection for Reclassification of Radiant Life Care Hospital FoundationMax Healthcare Institute Limited has received crucial no-objection letters from both BSE and National Stock Exchange of India Limited (NSE) regarding the reclassification of the Radiant Life Care Hospital Foundation.The exchanges granted approval for the entity to be reclassified from a 'Promoter Group' category to the 'Public' category, marking a significant operational change for the foundation.Radiant Life Care Hospital Foundation, previously known as 'Radiant Life Care Foundation,' has been confirmed as reclassified under the 'Public' category immediately following the approvals issued by the stock exchanges. The no-objection letters were...

Master Components Secures Order for Supply of Electrical Components Valued at INR 68,75,794/- Master Components Limited has secured a significant purchase order for the supply of electrical components to a domestic company. The contract details involve the delivery and terms relating to the manufacturing and supply business of the company.The total value of the order stands at approximately INR 68,75,794/-, excluding tax. This transaction is reported as a standard commercial deal involving no conflict of interest for the promoter or promoter group companies regarding the counterparty.Key details of the contract include:Nature of Order: Supply of electrical components. Counterparty: A domestic entity. The name of the company...

DEE Development Engineers Secures In-Principle Approval for Preferential Equity Issue DEE Development Engineers Limited has received in-principle approval from both BSE Limited and National Stock Exchange of India Limited (NSE) for the issuance of equity shares on a preferential basis. The approval facilitates the intended capital raise, which targets promoters and the public investor base.The company confirmed the receipt of the necessary preliminary approvals for the issue of 59,76,096 equity shares. These shares are set to be issued at a price of Rs 502 per share, structured with a face value of Rs 10 each, resulting in a premium of Rs 492 per equity share.The preferential issuance is designated for Promoter and Non-Promoters...

P S Raj Steels Limited Enters Agreement with PR Professionals for Investor Relations Support P S Raj Steels Limited, formerly P S Raj Steels Private Limited, has signed a significant agreement with PR Professionals to manage its public relations and investor relations needs. The contract was finalized on June 30, 2026, and the support services will be effective starting July 1, 2026.The partnership aims to provide dedicated Public Relations (PR) and Investor Relation (IR) support services to P S Raj Steels Limited. As per the terms of the agreement, which was executed between the two entities, it has been confirmed that there is no shareholding interest in PR Professionals by the company. Furthermore, the agreement structure does not...

Lupin Announces EMA Approval for NaMuscla Pediatric Indication and New Dosage Strengths Global pharmaceutical major Lupin Limited today announced that the European Medicines Agency (EMA) has approved a change to the terms of marketing authorization for its drug, NaMuscla. This approval includes the addition of two new dosage strengths—62 mg and 83 mg capsules—to the existing 167 mg strength.The expanded indication covers the symptomatic treatment of myotonia in various age groups with non-dystrophic myotonic disorders (NDM). The approved patient demographics include children aged 6 to 11 years weighing at least 20 kg, adolescents aged 12 to 17 years, and adults aged 18 years and above. NaMuscla is currently the only approved treatment...

The Grob Tea Company Acquires Bazaloni Group Limited to Boost Presence in Tea Industry The Grob Tea Company Limited has entered into a Share Purchase Agreement (SPA) for the acquisition of 100% equity shares of Bazaloni Group Limited, strengthening its presence within the highly competitive tea industry. The transaction aims to enhance the company's growth, revenue, and profitability by gaining further exposure in this sector.The Board of Directors confirmed approval for the SPA, which covers the acquisition from the existing shareholders of Bazaloni Group Limited. Upon completion of the acquisition and fulfillment of closing obligations, Bazaloni Group Limited is set to become a Wholly Owned Subsidiary of The Grob Tea Company...

SKM Egg Products Assures Market That Price Fluctuations Are Purely Demand Driven SKM Egg Products Export (India) Limited has addressed concerns regarding the movement in its stock price, asserting that any market volatility is strictly attributable to prevailing market conditions and not due to any undisclosed corporate events.Responding to inquiries from regulatory bodies concerning the recent fluctuations, the company stated that it has consistently provided all required material information in a timely manner. The management team emphasized that they are unaware of any pending announcements or undiscovered material information that could have influenced the movement of the company's securities.The company confirmed that its stock...