Markets

Oil India Limited Board Approves Executive Director Promotions, Recommends Significant Capital Enhancement Oil India Limited, a Maharatna CPSE and a company under the Government of India, has approved the promotion of senior executives as Executive Directors. The company also recommended alterations to its Memorandum of Association (MoA) and Articles of Association (AoA), pending shareholder approval.The decisions were made during a Board Meeting held on June 29, 2026.The Board granted approval for the promotion of certain Senior Executives, designating them as Executive Directors. These roles are positioned one level below the Board of Directors.Furthermore, the Board recommended modifications to both the MoA and AoA, which will...

Noble Polymers Ltd Appoints Additional Directors, Reconstitutes Key Committees Noble Polymers Ltd. announced significant changes to its Board of Directors and organizational structure following a meeting held on June 29, 2026. The Company approved the appointment of Mr. Mahesh Alabhai Odedra and Mr. Hiren Rambhai Odedra as Additional Directors under the Promoter Category, while also approving the shifting of the registered office within Ahmedabad City.The appointments were made following the Acquirers meeting the eligibility criteria for director status after depositing Rs. 1,14,00,000/- (Rupees One Crore Fourteen Lakh Only) into an escrow account. This deposit represented more than 100% of the maximum consideration payable under the...

Aditya Birla Capital Allots Debentures Worth Rs 300 Crore Through Private Placement Aditya Birla Capital Limited has completed the private placement of Non-Convertible Debentures (NCDs), raising a total of Rs 300 crore through multiple investors. The allotment process was finalized on June 29, 2026.The company managed two separate tranches of debenture issuance under this private placement initiative. These NCDs were issued with various security and listing features, including the creation of a first pari passu charge over its Receivables, Securities, future moveable assets and Current Assets in favor of the Debenture Trustee.Details of Secured Non-Convertible Debentures:The debentures are categorized as Secured, Rated, Listed...

Balgopal Commercial Ltd Receives BSE Approval for Preferential Issuance of Equity Shares Balgopal Commercial Ltd has received listing approval from the Bombay Stock Exchange (BSE) regarding the issuance of equity shares to its Promoter/Promoter Group on a preferential basis.The Company was granted the approval by BSE Limited on June 29, 2026, for the listing of 23,38,000 Equity Shares. These shares were issued at a premium of Rs. 50/- each over their face value.The details concerning the shares are as follows:Number of Shares: 23,38,000 Face Value per Share: Rs. 10/- Premium per Share: Rs. 50/- Issue Basis: Preferential issuance to Promoter/Promoter GroupThe approval granted by the exchange pertains to the listing of these...

Transrail Lighting Limited Approves Key Directorship Changes and Independent Director Reappointments Transrail Lighting Limited’s Board of Directors, during a meeting held on June 29, 2026, approved several significant appointments concerning its board structure. The outcomes included the re-appointment of two independent directors and the designation of a new non-executive director as Vice Chairman.The Company also noted the completion of the term for an existing independent director. These decisions are subject to approval by the shareholders via a Postal Ballot Notice, which is being processed.Board Approvals and Appointments Two board members were approved for re-appointment as Non-Executive Independent Directors (NEID). Mr...

RITES and CONCOR Ink MoU to Drive Logistics Infrastructure Consultancy Gurugram, June 29, 2026: RITES Ltd., a leading transport infrastructure consultancy and engineering firm, has signed a Memorandum of Understanding (MoU) with Container Corporation of India Limited (CONCOR). The collaboration aims to provide Project Management Consultancy (PMC) services for the development and improvement of CONCOR's terminals and establishments.The partnership will utilize RITES' multidisciplinary expertise in engineering and project management to support the planning, design, execution, and supervision of infrastructure projects being undertaken for CONCOR. Under the terms of the MoU, CONCOR may engage RITES on a work-to-work basis for PMC...

Hazoor Multi Projects Ltd. Redeems Investment in Subsidiary’s Optionally Convertible Debentures Hazoor Multi Projects Ltd. has finalized the redemption of its investment in Optionally Convertible Debentures (OCDs) issued by its wholly owned subsidiary, Square Port Shipyard Private Limited (SPSPL). The redemption concluded with the company receiving full and final payment for the OCDs, which were valued at Rs 25 Crores.The transaction involved the complete repayment of the 0.01% Optionally Convertible Debentures held by Hazoor Multi Projects Ltd. This settlement was completed in accordance with the terms and conditions established governing the OCDs and based on a mutual agreement between the two companies.Following the successful...

Maxgrow India Ltd Appoints Additional Independent Director and New Internal Auditor Maxgrow India Ltd has announced key appointments resulting from its Board of Directors meeting held on June 29, 2026. The company approved the appointment of Dr. M Krishnan as an Additional Non-Executive Independent Director, while simultaneously appointing M/s V. G. Kamat & Associates as its Internal Auditor for the Financial Year 2026-27.The Board meeting considered and formalized these appointments, with a focus on strengthening corporate governance and internal oversight functions within the company.Appointment of Additional Non-Executive Independent Director Dr. M Krishnan was appointed as an Additional Non-Executive Independent Director...

RBI Slams Urban Co-op Bank with Monetary Penalty Over Compliance Failures and Cybersecurity Laxity The Reserve Bank of India (RBI) has imposed a significant monetary penalty on The Citizens Urban Cooperative Bank Ltd., Jalandhar, Punjab. This action was taken following supervisory findings related to failures in regulatory compliance and adherence to specific directions issued by the central bank.The total fine levied against the institution is ₹5 lakh (Rupees Five Lakh only). The penalty stems from non-compliance with directives pertaining to 'Exposure Norms and Statutory / Other Restrictions' and the 'Comprehensive Cyber Security Framework for Primary (Urban) Cooperative Banks'.RBI Penalizes Bank for Regulatory Violations The...

Patel Integrated Logistics Ltd. Raises Buyback Price to ₹20 per Share, Reduces Offer Size Patel Integrated Logistics Limited has announced significant revisions to its tender offer for the buyback of equity shares. Following a Board Committee meeting, the company increased the buyback price and simultaneously reduced the maximum number of shares targeted for repurchase, maintaining the initial aggregate consideration size.The Company had initially approved a plan to acquire up to 60 lakh fully paid-up equity shares, each with a face value of ₹10, at a tender offer price of ₹18 per share. This was planned for an aggregate consideration not exceeding ₹10 crore eighty lakhs.In the latest revision, effective after a resolution passed by...

NCLAT Sets Aside Order on Insolvency Application Against Vikram Solar Ltd The National Company Law Appellate Tribunal (NCLAT) issued an order setting aside the previous ruling regarding the admission of a Section 9 application under the Insolvency and Bankruptcy Code, 2016 against Vikram Solar Limited.The Hon'ble NCLAT, Principal Bench in New Delhi, passed the order on June 29, 2026. This decision overturns the finding made by the National Company Law Tribunal, Kolkata Bench, which had previously admitted the application. The earlier order from the Kolkata Bench was issued on June 12, 2026, and became available on June 18, 2026.The NCLAT's decision concerns the application filed under Section 9 of the Insolvency and Bankruptcy Code...

Jhaveri Credits & Capital Ltd Announces Share Allotment following Amalgamation with U R Energy Private Limited Jhaveri Credits & Capital Ltd has announced a significant increase in its equity paid up share capital, following the approval by its Board of Directors to allot new shares as part of a Scheme of Amalgamation. The allotment pertains to the shareholders of U R Energy Private Limited.The Board meeting of Jhaveri Credits and Capital Ltd held on Monday, June 29, 2026, approved the issuance of 16,16,088 Equity Shares of the company. These shares were allotted to the Shareholders of U R Energy Private Limited under the Scheme of Amalgamation between the two companies.The scheme involves Jhaveri Credits and Capital Limited...

GeeCee Ventures Increases Stake in GMR Power and Urban Infra Through Open Market Purchase Geecee Ventures Limited has made a significant investment by acquiring additional equity shares in GMR Power and Urban Infra Limited (GPUIL) through an open market purchase, boosting its total shareholding in GPUIL. The investment was completed on June 29, 2026.The Company utilized cash consideration to invest Rs. 0.77 crores (i.e. 76.72 lakhs) by purchasing 77,500 equity shares of GMR Power and Urban Infra Limited. This transaction increased Geecee Ventures’ total shareholding in GPUIL to 3,78,000 equity shares, representing a 0.05% stake in the company's paid-up share capital.The investment is part of The Company’s ongoing investment...

RBI Imposes Monetary Penalty on Co-operative Bank After Compliance Lapse on Director Loans and Small Value Lending The Reserve Bank of India (RBI) has imposed a significant monetary penalty on Sri Bharathi Co-operative Urban Bank Limited, Hyderabad. The action follows findings related to regulatory non-compliance concerning specific lending practices within the bank.Under an order dated June 25, 2026, RBI levied a penalty totaling ₹1.50 lakh (Rupees One Lakh Fifty Thousand only). This punitive measure targets failures in adherence to key directions issued by the central regulator.Details of Regulatory Violations Against The Bank The imposition stems from deficiencies identified during the statutory inspection conducted by RBI...

Microsoft Plunges as AI Fears Erode $570 Billion in Market Value, Setting Worst Month Since 2000 Microsoft Corp. shares are facing immense pressure, heading toward their worst month since the dot-com era. Investor apprehension regarding how the software giant will navigate the rapidly evolving landscape of artificial intelligence is driving significant selloffs. The stock has seen a sharp decline of 17% in June, putting it on track for its weakest monthly performance since December 2000.The intense selling pressure has wiped out over $570 billion in market value. The stock hit its lowest closing price since 2023 on Thursday before recovering somewhat on Friday. This decline reflects growing concerns about the balance between...

Hexagon Nutrition Ltd: Joint Managing Director Holds New Zealand Citizenship Hexagon Nutrition Ltd has provided information regarding the citizenship of one of its promoters. The company confirmed that Dr. Nikhil Arun Kelkar, who serves as a Promoter and Joint Managing Director of the organization, holds citizenship of New Zealand.The company also specified that despite holding New Zealand citizenship, Dr. Nikhil Arun Kelkar has been residing in India since 2008. For applicable tax purposes and certain other relevant matters in India, he is regarded as a resident in India.HEXAGON Stock Price Movement Hexagon Nutrition Limited’s stock surged today, closing at ₹65.56 after gaining 14.37% in post-market trading. The equity achieved its...

Afcons Infrastructure Limited Announces 50th Annual General Meeting and Fixed Dividend Details Afcons Infrastructure Limited has announced key dates related to its upcoming 50th Annual General Meeting (AGM), alongside details concerning the proposed Final Dividend for Fiscal Year (FY) 2025-26.The 50th AGM of the company is scheduled to be held on Thursday, July 30, 2026, at 3:00 P.M. IST. Members will participate in the meeting through Video Conferencing (VC) or Other Audio Visual Means (OAVM).A key financial detail released by Afcons Infrastructure Limited is the proposed Final Dividend for FY 2025-26, amounting to ₹ 2.00 per Equity share. This dividend was recommended by the Board of Directors during a meeting held on May 18...

Samvardhana Motherson International to Acquire 28.15% Stake in HRDPL for Captive Power ComplianceSamvardhana Motherson International Limited (SAMIL) and its subsidiaries are moving forward with a strategic agreement aimed at acquiring a significant stake in Hinduja Renewables Energy Private Limited’s special purpose vehicle, HR Dhauliganga Private Limited (HRDPL). This acquisition is set to facilitate the Company's compliance requirements related to captive power generation and consumption under Electricity Laws.The transaction involves SAMIL and its subsidiaries entering into an agreement to acquire a 28.15% stake in HRDPL. HRDPL has been established as a special purpose vehicle by Hinduja Renewables Energy Private Limited. This...

Balkrishna Industries Completes Major Capacity Expansions in Carbon Black and Power Plant Divisions Balkrishna Industries Ltd has announced the successful completion of its integrated expansion projects, significantly boosting capacity across both its Carbon Black production line and its Power Plant division. These investments are key components of the company's strategic growth plan aimed at Year 2030.The company confirmed the completion of its Carbon Black expansion project, which introduces a substantial increase in manufacturing capability and revises existing operational metrics.Carbon Black Expansion Details The completed Carbon Black expansion projects resulted in a move from an existing capacity to a significantly larger...

Baroda Rayon Corporation Lands 80 Crore Facility from Aditya Birla Capital for Real Estate Refinancing Baroda Rayon Corporation Ltd (BRCL) has secured a term loan facility aggregating to 80.00 Crore from Aditya Birla Capital Limited (ABCL). The agreement, finalized on June 29, 2026, involves the refinancing of existing consortium borrowings combined with a fresh term loan provided by ABCL for BRCL’s commercial real estate project.The total facility of 80.00 Crore is structured as a takeover-cum-enhancement of the company's existing debt and includes an additional lending tranche from the lender. The transaction aims to optimize the company’s financing cost while providing necessary capital for its ongoing commercial real estate...