Markets

CCI Clears Pharma Associations After Detailed Review, Dispelling Concerns Over Mandatory NOCs and PIS Charges in Drug Distribution The Competition Commission of India (CCI) has issued a landmark ruling concluding that no anti-competitive contraventions were established against the various associations and pharmaceutical companies previously investigated. The decision brings definitive clarity to the landscape of drug distribution, finding that the mandatory nature of certain regulatory practices—such as obtaining No Objection Certificates (NOCs) for stockist appointments or compulsory PIS approvals for new product launches—was not conclusively proven after subsequent industry compliance measures were undertaken.The case, which...

RFBL Flexi Pack Limited Secures Order from 3B Films for Supply of Specialized Packaging Materials RFBL Flexi Pack Limited has secured a significant contract for the supply of specialized films and packaging materials, receiving an order on June 29, 2026. The substantial deal involves supplying products to 3B Films limited.The order pertains to the supply of transparent films and metallized films. The client awarding the business is identified as a domestic entity.Details regarding the newly awarded contract are presented below:ParticularsDetailsName of the entity awarding the order(s)/contract(s)3B Films limitedNature/Significance of Order(s)/Contract(s)Supply of transparent films and metallized filmsEntity TypeDomestic...

Jagsonpal Pharmaceuticals Acquires 85% Stake in Aequitas Healthcare Marking Strategic Entry into Hospital Segment Jagsonpal Pharmaceuticals Ltd. has entered into a definitive agreement for the acquisition of an 85% equity stake in Aequitas Healthcare Private Limited, gaining a significant foothold in India's hospital pharmaceutical segment. This move aligns with Jagsonpal’s long-term strategy to strengthen its presence within the rapidly growing healthcare ecosystem.Aequitas, which is based in Mumbai, specializes in the sale and distribution of pharmaceutical products specifically catering to hospitals. The acquisition aims to pivot Jagsonpal from a legacy retail prescription player into an Omnichannel Specialty healthcare business in...

Aban Offshore Ltd Reports Non-Submission of Secretarial Compliance Report Due to CIRP ProceedingsAban Offshore Limited has clarified the status regarding its Secretarial Compliance Report, stating that the non-submission is due to genuine difficulties stemming from its ongoing Corporate Insolvency Resolution Process (CIRP).The company confirmed it has been undergoing CIRP since September 1, 2025, following an order issued by the Hon'ble NCLT Chennai. Subsequently, proceedings related to the CIRP were stayed by the Hon'ble NCLAT, Chennai in an order dated January 21, 2026.As a direct consequence of the stay on the CIRP proceedings, Aban Offshore Limited was unable to convene the Annual General Meeting for the financial year...

Major Rating Agencies Assign Ratings to Indian Oil Corporation Limited Indian Oil Corporation Limited has secured various credit ratings from several leading rating agencies across multiple debt instruments, reflecting the company's financial standing. The assessments cover bonds, bank facilities, and unsecured debt by S&P Global, CRISIL, ICRA, CARE, and India Ratings.The assigned ratings span different types of debt obligations, including senior unsecured debt, non-convertible debentures, and various terms of bank facilities, as reported across the market.Credit Rating Summary Key credit ratings for Indian Oil Corporation Limited (IOC) by respective agencies are detailed below:Instrument CategoryRating AgencyRatingOutlook...

Ekansh Concepts Ltd Announces Merger of SIIPL and Appointment of New Directors Ekansh Concepts Limited has announced a strategic merger by absorption with Sankalp Industrial Infratech Private Limited. Simultaneously, the company appointed two additional executive directors as part of its organizational restructuring following the Board meeting held on June 29, 2026.The scheme involves absorbing SIIPL into Ekansh Concepts Limited (ECL). ECL, an infrastructure consultancy and project management firm, will benefit from consolidating operations with SIIPL, which specializes in developing and operating industrial and infrastructure assets. The merger is intended to achieve streamlined decision-making, optimize resource allocation, and...

Indian Oil Corporation Limited Receives Ratings from Global Credit Rating Agencies Indian Oil Corporation Ltd (IOC) has received various credit ratings for its debt instruments from multiple leading credit rating agencies, including S&P Global, ICRA, CRISIL, CARE, and India Ratings & Research Pvt. Ltd.The assigned ratings cover different facets of the company's debt profile, ranging from issuer ratings to specific facility types such as bank facilities and unsecured debentures across long-term and short-term instruments.According to the rating assignments, IOC holds a BBB rating for its Issuer Rating from S&P Global, while it was rated Baa3 (Stable) for 20 Unsecured Debt in Foreign Currency. Senior Unsecured Debt in Foreign Currency...

Aarti Surfactants Ltd Board Meeting Scheduled to Approve Redemption of Preference Shares Aarti Surfactants Ltd has scheduled a meeting of its Board of Directors to consider and approve the redemption of Non-Convertible Redeemable Preference Shares (NCRPS). The meeting is set to be held on Friday, July 3, 2026.The primary agenda item for the board meeting concerns the redemption process involving the company's preference shares. According to the announcement, the Board will review and approve the redemption of 10,82,387 Non-Convertible Redeemable Preference Shares. Each share has a face value of ₹ 10.The planned redemption is in accordance with the terms and conditions that govern these Redeemable Preference Shares.AARTISURF Stock...

Sattrix Information Security Ltd's Wholly Owned Subsidiary Completes Name Change Sattrix Information Security Limited has confirmed a significant change regarding one of its wholly owned subsidiaries. The entity has undergone a name alteration, moving from its previous designation to a new structure.According to company records, the subsidiary's previous name was SATTRIX INFORMATION SECURITY DMCC. Effective through the recent update, the company now operates under the name SATTRIX INFORMATION SECURITY FZCO.This transition affects the operational and public identity of the entity within the corporate group of Sattrix Information Security Limited.Stock Price Movement Sattrix Information Security Ltd closed Monday at ₹360.00...

Kaira Can Company Appoints Chandrahas Vinod Zaveri as Additional Independent Director Kaira Can Company Ltd has announced the appointment of Mr. Chandrahas Vinod Zaveri as an Additional Director in the category of Non-Executive, Independent Director of the company. This decision follows the recommendation of the Nomination and Remuneration Committee and was approved by the Board of Directors at its meeting held on June 25, 2026.The appointment is for a first term of five consecutive years and is subject to approval from shareholders at the ensuing 63rd Annual General Meeting.In relation to this announcement, Kaira Can Company issued a corrigendum clarifying an inadvertent typographical error in a previous disclosure. The company...

Global Luxury Titans Deploy Secret Detectives to Combat Massive Fake Goods Epidemic in India The battle against counterfeit luxury goods has entered a new, high-stakes phase in India. Global luxury brands like Versace, Michael Kors, and Jimmy Choo are no longer waiting for consumers to complain; they are actively hunting down the organized supply chains that churn out fake merchandise across Indian metro cities. These established international labels are investing heavily in clandestine intelligence networks—a critical move given the magnitude of the counterfeit market here.For decades, enforcement strategies often relied on traditional legal action following consumer complaints. However, as the illicit trade professionalized and...

ICRA Reaffirms Long-Term Rating and Upgrades Short-Term Rating for Windlas Biotech’s Working Capital Facilities Windlas Biotech Ltd has received an updated review of its credit ratings from ICRA Limited, which reaffirmed the rating for its long-term working capital facilities and upgraded the short-term working capital facilities. The ratings cover a total amount of Rs 84.90 Crore across various instruments provided by different banks.ICRA's Rating Committee reviewed Windlas Biotech’s financial standing, leading to positive actions regarding the company’s secured working capital access. The ratings encompass both fund-based and non-fund based facilities.The rating actions are as follows:The Long-term Working Capital Facilities...

Axis Bank Announces CFO Resignation and Board Re-appointments of Senior Directors Axis Bank Limited has announced a change in its senior management and confirmed key re-appointments to its board, effective from various dates in 2027. The bank's Chief Financial Officer tendered his resignation, while the Board of Directors approved the reappointment of two experienced professionals: CH S S Mallikarjunarao as an Independent Director and Munish Sharda as a Whole-Time Director.Puneet Sharma, who served as the Bank's Chief Financial Officer, resigned on June 28, 2026, to pursue the next phase of his professional career. Mr Sharma will be relieved from the services of Axis Bank at the close of business on August 31, 2026, marking the end of...

Jagsonpal Pharmaceuticals Acquires 85% Stake in Aequitas Healthcare, Targeting Hospital Segment Growth Gurugram, India | June 29, 2026 - Jagsonpal Pharmaceuticals Limited has announced it has entered into a Share Purchase Agreement (SPA) to acquire an 85% stake in Aequitas Healthcare Private Limited. This strategic acquisition marks Jagsonpal's entry into the hospital segment, giving the company access to institutional networks for its pharmaceutical products.Aequitas Healthcare Private Limited, established in 2017 and based in Mumbai, is a company that specializes in the sale and distribution of pharmaceutical products to hospitals across India. The proposed acquisition is structured as a cash consideration deal.The total cost for...

Aman Goel Resigns as Non-Executive Director of Pankaj Polymers Ltd Due to Change in Management Pankaj Polymers Ltd has announced the resignation of Mr. Aman Goel from his role as a Non-Executive Director. The change is effective immediately, following the decision attributed to a change in management within the company.Mr. Aman Goel (DIN: 07729553) tendered his resignation, which was accepted by the Board of Directors. His departure marks a transition for the board as of June 29, 2026.The resignation letter from Mr. Aman Goel cites "Change in Management" as the reason for stepping down from the directorship position.Key details regarding the cessation of his duties are summarized below:ParticularsInformationName of the...

Divyadhan Recycling Secures Working Capital Term Loan of Up To Rs 1.75 Crore from Axis Bank Divyadhan Recycling Industries Limited has secured a Working Capital Term Loan facility from Axis Bank Limited, which is intended to meet the company’s working capital requirements and support ongoing business operations. The approval for this financial assistance was granted by the Board of Directors at its meeting held on June 29, 2026.The financial assistance was sanctioned by Axis Bank Limited via a Sanction Letter dated June 24, 2026. This loan agreement, which amounts up to Rs 1,75,00,000/-, is designed to help the company manage its working capital needs while supporting business growth.The transaction involves Axis Bank Limited, MWBC...

Orient Paper & Industries Changes Chief Operating Officer as Management Personnel Shifts Orient Paper & Industries Limited has announced changes in its senior management team, noting the resignation of a key officer and the appointment of a new professional to lead operations. The Board recorded the departure of Mr. C.S. Kashikar and appointed Mr. Yogendra K. Varshney as the new Chief Operating Officer (COO).Mr. C.S. Kashikar resigned from his position as Chief Operating Officer, effective from the close of business hours on June 29, 2026. The company acknowledged his contributions during his tenure with Orient Paper & Industries Limited.The Board appointed Mr. Yogendra K. Varshney as the new Chief Operating Officer. His appointment...

ICICI Bank Approves Reappointment of Independent Director and Sets Dates for 32nd AGMThe Board of Directors of ICICI Bank Limited approved the re-appointment of Ms. Vibha Paul Rishi as an Independent Director and set key dates for its upcoming general meeting, marking several governance updates at the bank.Ms. Vibha Paul Rishi was unanimously approved by the Board for a second term, commencing from January 23, 2027, until December 31, 2028. This re-appointment is contingent upon shareholder approval and coincides with the completion of her association with the ICICI Group for ten years. Her previous tenure had been set to expire on January 22, 2027.The Board Governance, Remuneration and Nomination Committee recommended the...

India's Tech Edge: BRICS CCI Meeting Sparks Focus on Global Innovation in Space and Biotechnology A delegation from the BRICS Chamber of Commerce & Industry (BRICS CCI) met with Union Minister of State for Science & Technology, Dr. Jitendra Singh, to strengthen industry-led global engagement across the BRICS and BRICS Plus ecosystem. The discussion focused intently on leveraging innovation, StartUps, and emerging technologies for collaborative growth between member countries.The meeting saw representatives from the BRICS CCI, led by Mr. Sameep Shastri, discuss ways to bolster cross-border collaboration. They briefed the Minister on the Chamber’s decade-long initiatives aimed at promoting trade facilitation and B2B engagement across...

Housing Sales Slide 6% in June Quarter Amid IT Uncertainty and Global Conflicts Housing sales across India's seven major metropolitan areas experienced a notable downturn in the June quarter, reporting a 6 percent decline year-on-year. The slowdown, according to a report released by Anarock, is attributed primarily to global tensions stemming from the West Asia conflict and widespread uncertainty within the IT/ITeS sector, which have collectively dampened buyer sentiment.Residential sales decreased to approximately 90,715 units, down from 96,285 units recorded a year earlier. Sequentially, demand also saw a contraction, falling by 11 percent. This moderation reflects a maturing market as supply levels begin to catch up following...