Markets

NCLT Schedules Further Hearing for Beacon Trusteeship Scheme of Amalgamation The proceedings regarding the proposed Scheme of Amalgamation involving several companies have been scheduled before the National Company Law Tribunal (NCLT). The matters concern Beacon Trusteeship Limited, Beacon Payroll & Benefits Private Limited, Codium Techlabs Private Limited, and Kratos Capital Advisors Private Limited.The Petition related to the Scheme was filed before the Hon'ble National Company Law Tribunal in Mumbai on June 22, 2026. These proceedings relate to the amalgamation involving Beacon Trusteeship Limited as the Transferee Company, alongside Beacon Payroll & Benefits Private Limited, Codium Techlabs Private Limited, and Kratos Capital...

Pidilite Subsidiary Completes Share Transfer of Buildnext to JSW One Platforms LimitedPidilite Industries Limited's wholly owned subsidiary, M/s Pidilite Ventures Pvt. Ltd., has completed a significant share transfer involving Buildnext Construction Solutions Private Limited (Buildnext). The company transferred its entire shareholding in Buildnext to JSW One Platforms Limited, following a Share Swap Agreement established between PVPL, JSW One, Buildnext and other parties.The transaction saw Pidilite Ventures Pvt. Ltd. being issued equity shares of JSW One as the consideration for the aforesaid transfer. The details of this transaction were completed at a mutually agreed valuation; however, specifics were not disclosed publicly due...

Sigma Advanced Systems Reports Q4 FY26 Performance Amid Global Aerospace Push Sigma Advanced Systems Limited, a Tier 1 global player in the aerospace and defense sector, has reinforced its strategic position through strong operational execution and significant capacity expansion. The company operates as both a key anchor in India's domestic defense ecosystem and as a supplier of complex components to the global aerospace industry.The company boasts over three decades of legacy and maintains extensive manufacturing footprints across multiple sites in India and the UK. Key performance indicators for Q4 FY26 showed robust revenue figures, with the firm also maintaining an overwhelming orderbook status.Financial Performance and...

Route Mobile and Truecaller Partner to Boost Global Business Messaging Capabilities Route Mobile Limited has announced a strategic partnership with Truecaller, the leading global communications platform, aimed at significantly strengthening business messaging capabilities worldwide. This alliance seeks to drive trusted branding, enhance customer engagement, and create long-term value for enterprises across their ecosystem.The collaboration empowers businesses by enabling access to Truecaller Business Messaging through Route Mobile’s platform. Communication is positioned as central to every business operation, and this partnership aims to make customer interactions seamless, secure, and effective at scale.By integrating its robust...

Mangalam Global Enterprise Launches NEAT Everyday, Expands Retail Footprint in India's Wellness Sector Mangalam Global Enterprise Limited, a conglomerate with over eight decades of history, has officially entered India's rapidly expanding wellness and personal care market through its new brand, NEAT Everyday. The company announced the inauguration of three new experience stores in Mumbai, marking a significant step in its retail-led growth strategy within the nutraceuticals and clean-label personal care segment.The expansion solidifies NEAT Everyday’s commitment to strengthening its omnichannel presence by complementing its digital platform with physical retail locations. These three newly opened stores are located across Goregaon...

Hi-Tech Pipes Limited Clarifies Preferential Allotment Percentages for Promoter Group Hi-Tech Pipes Limited has issued an update regarding its Notice of Postal Ballot dated May 28, 2026, pertaining to the preferential issue of Fully Convertible Equity Warrants. The company provided a corrigendum addressing a clerical error related to the allocation percentages within the explanatory statement.The notice detailed the preferential issue of 90,00,000 Fully Convertible Equity Warrants on a preferential basis to individuals belonging to the Promoter Group Category.The clarification addresses an inadvertent interchange of figures in Point E of the Explanatory Statement. This clerical error related to the percentages of post-issue offer...

Alkem Laboratories Receives Favourable Income Tax Order Reversing Disallowances Worth Rs 660.77 Crores Alkem Laboratories Limited has received favorable Orders-in-Appeal from a statutory authority regarding its tax matters under the Income-tax Act, 1961. The orders relate to disallowing previously made deductions under section 80-IE of the Act for several assessment years.The Commissioner of Income Tax, Appeal - 47, Mumbai (CIT(A)) passed the beneficial orders on June 30, 2026. These orders specifically delete previous disallowances that were applied to Alkem Laboratories Limited across Assessment Years (AYs) 2018-19 to 2022-23.The re-assessment orders had previously disallowed a part of the deduction claimed under section 80-IE of...

MBL Infrastructure Updates: Diversified Civil Engineering Projects and Financial Performance Review through FY26 MBL Infrastructure Limited, an established player in civil engineering projects, continues to expand its footprint across various infrastructure sectors, including Roads & Highways, Building/Housing, and Railways/Metro. Incorporated in 1995, the company maintains a strong market presence, driven by its commitment to complex and large-scale public works.The company has successfully executed numerous major projects across India, solidifying its position as one of the first contractors awarded contracts for prestigious initiatives such as the North South East West Corridor project by NHAI. MBL's core operational strength lies...

Hyundai Motor India Achieves 51,335 Unit Sales in June Despite Production Disruption Hyundai Motor India Limited (HMIL) reported total monthly sales of 51,335 units for June 2026. This total comprises domestic sales accounting for 39,635 units and export sales amounting to 11,700 units.Commenting on the June results, Tarun Garg, MD & CEO of HMIL, stated that while the company achieved the reported sales figures, it faced a significant production loss of 13,900 units during the month. This loss was attributed to a fire incident at one of its suppliers' manufacturing facilities, which led to a temporary disruption in the company’s production schedule.HMIL responded quickly to the supply chain issue and implemented necessary steps to...

Pranik Logistics Secures Master Service Agreement with InstaKart for Fulfillment Center Management in Bihar Pranik Logistics Limited has finalized and executed a definitive Master Service Agreement (MSA) with InstaKart Services Private Limited, the logistics arm of the Flipkart group. The agreement outlines the framework for managing fulfillment centers, warehouses, and delivery hubs located in Bhagalpur, Bihar, covering aspects such as storage and product handling.The engagement is designed to manage operations across these key infrastructure points. This domestic partnership establishes a comprehensive operational and legal structure governing the logistics services provided by Pranik Logistics Limited.Key details of the Master...

Tax Appeal Success: Commissioner of Income Tax (Appeals) allows Anik Industries Limited's appeal Anik Industries Limited has confirmed that its appeal against assessment orders passed under various sections of the Income-tax Act, 1961, has been allowed by the Commissioner of Income Tax (Appeals). The decision carries a positive financial impact for the company across multiple Assessment Years.The outcome was determined by the office of the Commissioner of Income Tax (Appeals) in Mumbai. According to the details provided, the ruling against the previous assessment orders resulted in the appeal being allowed under Section 250 of the Act. The direction or order related to this matter was received by the company on June 30, 2026.The...

Delhi High Court Upholds Landmark Verdict: NSE Mandated as Public Authority Under RTI Act A significant judicial ruling has redefined the regulatory scope of India's premier financial institution. The Delhi High Court affirmed that the National Stock Exchange (NSE) operates as a "public authority" under the Right to Information (RTI) Act, thereby obligating it to disclose information mandated by the transparency law.The Division Bench, comprising Justices C Hari Shankar and Om Prakash Shukla, successfully dismissed the NSE's appeal. The judgment upholds a critical 2010 single-judge ruling delivered by Justice Sanjiv Khanna regarding the exchange's statutory obligations.Institutional Recognition of NSE Under RTI Act With this...

Subex Limited Announces 32nd Annual General Meeting Details and Voting Cut-off Date Subex Limited has announced the schedule for its 32nd Annual General Meeting (AGM), which is set to be held through a virtual platform. The company also specified the cut-off date for members intending to cast their votes regarding the proposed resolutions.The 32nd AGM of Subex Limited is scheduled to take place on Tuesday, August 4, 2026. The meeting will commence at 2:00 p.m. (IST) and will be conducted via Video Conference or other Audio-Visual Means (VC/OAVM).Members are advised that the date for determining their entitlement to vote on the resolutions proposed during the AGM is Tuesday, July 28, 2026. This cut-off date ensures that all eligible...

Coal India Limited Releases Provisional Production and Offtake Performance for June 2026 Coal India Limited has released the provisional performance details concerning coal production and off-take for the month of June 2026, along with progressive figures for the same period. The data provides a detailed snapshot of the operational status across various subsidiaries in both production volume and sales metrics.The comprehensive results cover multiple aspects of operations, including current monthly actuals compared to previous periods, as well as year-to-date trends.Coal Production Performance The provisional coal production figures, measured in million tonnes, reveal varied performance across the subsidiary companies (Subs/Co) for...

Sensex Bounces Back as Domestic Investors Surge Amid Foreign Outflows Indian benchmark indices staged a significant recovery session on July 1, snapping their two-day losing streak. The market advanced following strong buying activity in key domestic sectors, even as foreign investors maintained a net selling stance. This rebound highlights the resilience of local institutional money infusion into the equities market.Institutional Flows: DII Support Outweighs FII Selling Domestic institutional investors (DIIs) were the primary pillar supporting the market, emerging as substantial net buyers. DIIs acquired shares worth ₹17,136.57 crore against sales totaling ₹13,977.33 crore, netting a significant gain of ₹3,159.24 crore for the...

SEBI Bans 221 Entities After Massive Pump-and-Dump Operation; Mastermind Fined ₹10 Crore for Orchestrating Fraud The Securities and Exchange Board of India (SEBI) has taken decisive action against a large-scale manipulation racket in the stock markets. In its comprehensive final order, the regulator banned 221 entities from accessing the securities market for up to seven years. This crackdown targets individuals and firms involved in an orchestrated pump-and-dump scheme spanning several years.Individual investor Hanif Shekh has been identified as the alleged mastermind of this sophisticated operation. He was slapped with a heavy fine of Rs 10 crore following his involvement in manipulating five specific stocks over the period between...

Kajaria Ceramics Launches Buyback Tender Offer of Up To 21.5 Lac Shares at Rs 1,380/- Kajaria Ceramics Limited has initiated a tender offer for the buyback of equity shares, offering existing shareholders the opportunity to sell their holdings in exchange for cash. The company aims to optimize returns and enhance overall shareholder value through this initiative, which is set to conclude within two weeks.The buyback targets up to 21,50,000 Equity Shares (Twenty One Lacs Fifty Thousand only) at a fixed offer price of Rs 1,380/- per equity share. The aggregate maximum consideration for the purchase does not exceed Rs 296.70 crores, excluding transaction costs.The buyback was approved by the Board of Directors and subsequently received...

Nifty 24,000: Indian Markets Snap Losing Streak Amid Auto Rally; IT Shares Lag Amid Outlook Worries Indian benchmark indices managed a decisive turnaround on July 1, snapping a two-day losing streak with broad-based buying support. The market saw significant gains driven by the auto and FMCG sectors, although shares in the Information Technology space remained under pressure following cautious guidance from key players.At the close of trading, the Sensex finished at 76,922.64, recording a gain of 443.97 points or 0.58 percent. The Nifty finished slightly higher at 24,005.85, rising by 140.10 points or 0.59 percent. Broader market indices also showed strength, with the midcap and smallcap segments both registering a 0.3 percent rise...

WFPML Consolidates Financial Muscle: Acquiring Mumbai-Based WFAPL, Boosting Combined AUM to Nearly ₹9,000 Crore Ahmedabad-based Wealth First Portfolio Managers (WFPML), an established independent financial advisory (IFA) firm, has announced a significant strategic move. The company is acquiring 100% of Wealth First Advisors Pvt. Ltd (WFAPL), a prominent wealth management and distribution firm based in Mumbai. This acquisition comes with a valuation of WFAPL at ₹102.15 crore in a structured two-stage transaction.The merger aims to solidify WFPML's position across India's key financial hubs. By integrating the operations, the combined assets under management (AUM) for both firms will rise substantially to nearly ₹9,000 crore. This move...

MCX Shares Surge 5% as Jefferies Initiates 'Buy' Rating, Projects Up To 27% Upside Multi Commodity Exchange of India (MCX) shares rallied strongly on Wednesday after brokerage firm Jefferies initiated coverage on the stock with a "buy" rating. The firm set a target price of ₹3,600 per share, implying a potential upside of up to 27 percent from Tuesday's closing level.The stock climbed 5.49 percent, briefly hitting an intraday high of ₹2,993 per share on the NSE. Although it saw some profit booking afterward, MCX closed at ₹2,963 per share, marking a gain of 4.43 percent for the day.Jefferies Rationale: Near-Monopoly and Future Growth Trajectory Jefferies highlighted that penetration in India's commodity derivatives market is...