Markets

India's Industrial Production Surges 5.1% as MoSPI Replaces WPI with Output PPI General Outlook and Key Highlights of May 2026 IIP The All India Index of Industrial Production (IIP) recorded a robust year-on-year growth of 5.1 percent in May 2026. This strong performance was significantly supported by the manufacturing sector, which grew by 5.5 percent, and the electricity & gas supply sector, posting an impressive surge of 9.9 percent. These results indicate sustained industrial activity across multiple key sectors in India.The Quick Estimates for IIP stand at 122.7, showing continued expansion compared to May 2025 (116.7). The indices for Electricity & Gas Supply and Water Supply, Sewerage & Waste Management stood at 129.6 and...

Bajaj Auto Launches Buyback Offer of Up To 46 Lakh Shares at INR 12,000 per Share Bajaj Auto Limited has announced a significant buyback offer for its equity shareholders, proposing to repurchase up to 46 lakh shares through a tender offer route. The company offered the shares at a fixed price of INR 12,000/- per Equity Share, representing up to 1.68% of the total paid-up equity share capital as of March 31, 2026.The buyback is part of the company’s financial strategy aimed at enhancing shareholder returns by returning surplus cash efficiently, reinforcing Bajaj Auto's commitment to its shareholders. The offer allows Eligible Shareholders to participate on a proportionate basis, with all proceeds being paid in cash, for an aggregate...

Premium Pricing Sparks Jitters as Persistent’s Mega-Acquisition of Nagarro Heralds New Era of IT Consolidation The global technology services landscape is undergoing rapid consolidation, with mid-tier firms accelerating mergers and acquisitions (M&A) to acquire AI capabilities and expand their regional networks. Persistent Systems' decision to acquire Nagarro marks one of the largest IT deals in recent memory, but it has simultaneously highlighted intense market scrutiny over expensive dealmaking and execution risk.The transaction involves a price tag of €1.27 billion, positioning the acquisition as a massive move during a period when Indian IT firms are scrambling to scale their AI engineering expertise. This move follows similar...

Jio BlackRock Launches Prism Hybrid Long-Short Fund: Blending Derivatives and Fixed Income to Capture Niche Market Alpha Jio BlackRock Asset Management has unveiled its maiden Specialised Investment Fund (SIF), the Prism Hybrid Long-Short Fund. This launch signifies a strategic move by the asset manager to expand its product suite and capitalize on the growing investor appetite for sophisticated alternative investment strategies in India.The fund is scheduled to open for subscription from June 29 to July 13. It offers investors exposure to a blend of equities, fixed income instruments, and various derivative-based techniques. The minimum investment required for this SIF is set at Rs 10 lakh, with the fund offering twice-weekly...

Michelin-Starred Chef Vikas Khanna Invests in Kolkata Chai, Pushing South Asian Food into American Mainstream A strategic partnership is set to redefine the future of South Asian cuisine in America as Bungalow Hospitality Investments backs Kolkata Chai Co. The investment highlights a significant movement toward mainstream acceptance and elevated culinary standards for Indian food and beverage across the United States.Kolkata Chai Co., founded by siblings Ani and Ayan Sanyal in 2019, has focused on introducing authentic Indian chai to millions of Americans. The brand operates café locations throughout New York City while also distributing its full line of chai blends and concentrates through national retail channels.What Does This...

Nifty, Sensex Snap Two-Day Winning Streak as Broad Selling Pressure Weighs On Sentiment Indian benchmark indices witnessed a reversal of fortune on Monday, snapping their two-day gaining streak amid persistent selling pressure across major sectors. The market closed marginally in the red, driven by profit booking and broad weakness that dragged both the Nifty 50 and Sensex lower.The Sensex finished at 76,728.37, falling 372.10 points or 0.48 percent. Correspondingly, the Nifty recorded a decline of 109.75 points or 0.46 percent, settling at 23,946.25 by market close. The broad indices trended similarly, with the smallcap index declining 0.6 percent and the Nifty midcap index also seeing a dip of 0.4 percent.Sectoral Trends and Stock...

Ajooni Biotech Announces Book Closure for 16th Annual General Meeting (AGM) Ajooni Biotech Limited has announced a period of book closure for its members in connection with the upcoming 16th Annual General Meeting (AGM). The company's member transfer books will be closed during this time, which is set to run from Thursday, July 23, 2026, through Wednesday, July 29, 2026.The book closure is aimed at recording the members of the Company for the purpose of holding the 16th AGM. The company has specified that the cut-off date for ascertaining member eligibility for remote e-voting and polling at the AGM is Friday, July 17, 2026, which precedes the commencement of the book closure period.The key dates related to the shareholder...

TCI Recommends Final Dividend of Re 1 Per Share for FY26; Outlines TDS Structure Transport Corporation of India Limited (TCI) announced the recommendation of a final dividend for the financial year ended March 31, 2026. The Board of Directors recommended a final dividend of Re 1/- per equity share against a face value of Rs 2/- each.The decision was made during a Board meeting held on May 26, 2026, and is subject to shareholder approval at the upcoming Annual General Meeting (AGM) scheduled for Thursday, July 30, 2026, which will be conducted via Video Conferencing. The dividend payment is slated for shareholders holding shares as of the record date, set for Friday, July 17, 2026.TDS Structure and Shareholder Requirements TCI...

Mangal Electrical Industries Acquires Industrial Land for Expansion in RajasthanMangal Electrical Industries Limited has acquired an industrial land parcel intended for the expansion of its manufacturing facilities and future business operations. The acquisition, which took place on June 29, 2026, is set to support the company's long-term growth strategy by augmenting its production capabilities.The asset is located in Revenue Village Parsarampura, Patwar Halka Sargoth, District Sikar, Rajasthan, and covers a total area of 1.4315 hectares. The transaction was conducted using cash consideration.The acquisition details highlight that the land purchase is not associated with any related party transactions, as it was executed on an...

Juniper Hotels Ltd Announce CFO Resignation and Interim Management Plan Juniper Hotels Limited has announced the resignation of Mr. Tarun Jaitly from the position of Chief Financial Officer (CFO) of the Company and its material subsidiary, Chartered Hotels Private Limited (CHPL). The resignations are effective from the close of business hours on Wednesday, July 15, 2026.Mr. Tarun Jaitly tendered his resignation to embark on a new opportunity outside the Company. He resigned not only as CFO of Juniper Hotels Ltd but also in the same capacity at Chartered Hotels Private Limited.The company confirmed that it is actively involved in identifying and appointing a replacement Chief Financial Officer within the necessary timeframe...

Apple Slams CCI in Antitrust Battle: "Copy-Pasting" Rivals’ Claims in India Investigation Apple has severely escalated its fight with the Competition Commission of India (CCI), accusing Indian antitrust investigators of merely "copy-pasting" claims made by competitors rather than conducting an independent analysis. The technology giant called for all existing findings against it to be quashed, arguing that the conclusions wrongly mandated the use of Apple’s payment system on the iOS operating system.The submission, dated June 25 and reported for the first time, marks the sharpest confrontation yet in the dispute, which includes opponents such as Match and several Indian startups. Apple vehemently denied the allegations, stating its...

IRB InvIT Fund Schedules 9th Annual Meeting; Approves FY2026 Financials and Appoints KPMG Valuation Services LLP The Unitholders of IRB InvIT Fund have been notified regarding the holding of their 9th Annual Meeting, which is scheduled to take place on Thursday, July 23, 2026. The meeting, which will be conducted through Video Conferencing (VC) or other Audio Visual Means (OAVM), includes discussions related to the audited financial results for the financial year ended March 31, 2026, and the appointment of an independent valuer.The agenda set for the Annual Meeting covers three primary items. Item No. 1 concerns the consideration and adoption of the Audited Standalone Financial Statements and the Audited Consolidated Financial...

Allcargo Terminals Reports Strong Operational Volumes with 61.7 '000 TEUs in May 2026Allcargo Terminals Limited reported its operational performance for the month ended May 2026, noting significant growth in total volumes. The company recorded a total volume of 61.7 '000 TEUs during that period.The data indicates a robust increase across multiple comparisons. Total volumes achieved in May 2026 were 11% higher compared to the volumes recorded in May 2025, and they were also 4% higher than the operational volumes registered in April 2026.ATL Stock Price Movement Allcargo Terminals Limited shed 1.40% today in post-market trading, settling at ₹23.87 after falling by ₹0.34 from the previous close. The stock saw a traded volume of...

TVS Motor Company Holds Annual General Meeting for Financial Review and Director Reappointment TVS Motor Company Ltd is set to host its 34th Annual General Meeting (AGM) via Video Conference (VC) or Other Audio Visual Means (OAVM). The AGM, scheduled for Wednesday, July 22, 2026, will address key corporate matters, including the approval of financial statements and the re-appointment of a director.The meeting agenda includes ordinary business concerning the adoption of standalone and consolidated audited financial statements for the year ended March 31, 2026, along with the Board's Report and Auditors' Report. Another primary agenda item is the consideration and re-appointment of Mr Sudarshan Venu as a Director of the Company.Cost...

SWREL JV Secures Landmark USD 560 Million Solar PV Project In Egypt Mumbai, June 29, 2026 — Sterling and Wilson Renewable Energy Limited (SWREL) has secured an order valued at approximately USD 560 million for the West Minya Solar Power Project in the Minya Governorate of Egypt. This contract was awarded to SWREL through a 50-50 joint venture with Hassan Allam Construction, a leading contractor operating within Egypt and the MENA region.The project involves the development of a 1,000 MWac capacity Solar PV project integrated with a 600 MWh Battery Energy Storage System (BESS). Upon completion, this facility is set to become one of Egypt's largest utility-scale renewable energy developments.As part of this significant contract, the...

Diffusion Engineers Limited Secures Domestic Order Worth About INR 26.31 Crores for RAPH Rotor Assembly Diffusion Engineers Limited has received a domestic order valued at about INR 26.31 Crores for the supply of RAPH Rotor Assembly intended for the power industry. The contract is with a domestic client and does not involve any interest from promoters or related party transactions.The order relates to the supply of RAPH Rotor Assembly by Diffusion Engineers Limited. Key commercial and operational details regarding the order are summarized below:ParticularsDetailsOrder ValueAbout INR 26.31 Crores approx.Client TypeDomestic ClientNature of OrderSupply of RAPH Rotor AssemblyOrigin EntityDomestic entityThe delivery...

NCL Industries Ratings Reaffirmed by CRISIL for Bank Loans and Fixed Deposits CRISIL has reaffirmed the credit ratings for NCL Industries Ltd.'s bank loan facilities and fixed deposit facilities. The rating renewal provides assurance regarding the company's lending structure, according to details provided by the agency.The renewed ratings cover a total of Rs. 561.00 Crores in Bank Loan Facilities and Rs. 100.00 Crores in Fixed Deposits.Key aspects of the reaffirmed ratings are as follows:Facility TypeAmount RatedLong Term RatingShort Term RatingTotal Bank Loan FacilitiesRs. 561.00 CroresCRISIL A / Stable (Reaffirmed)CRISIL A1 (Reaffirmed)Fixed DepositsRs. 100.00 CroresN/ACRISIL A / StableThe reaffirmation includes the...

Ajooni Biotech Limited Board Meeting Approves Increased Authorized Capital and Preferential Issue to Promoters Ajooni Biotech Limited, during a Board meeting held on June 29, 2026, announced several strategic corporate decisions, including increasing its authorized share capital and approving a preferential issue of equity shares to persons belonging to the company's promoters. The company also finalized details regarding its upcoming Annual General Meeting (AGM).The board approved expanding the Authorized Share Capital from Rs. 50,00,00,000/- (Rupees Fifty Crores Only), which was divided into 25,00,00,000 equity shares of Rs. 2/- each, to a new authorized capital of Rs. 70,00,00,000/- (Rupees Seventy Crores Only). This revised...

Motherson Sumi Wiring India Ltd Reports on Stock Volume Movement Motherson Sumi Wiring India Limited has responded regarding recent movements observed in its equity shares, confirming that the company is unaware of any pending announcements or events that could influence the volume or price behavior of its stock.The company stated that it maintains timely disclosures regarding all material events to relevant exchanges. Addressing inquiries related to the significant movement in the trading volume of its equity shares, Motherson Sumi Wiring India Limited confirmed that there is no information specific to the company that may have caused this movement.In the absence of any internal material developments, the firm noted that the recent...

Aadhar Housing Finance Pays Interest on NCDs; Confirms Monthly Payments for Rs 145 Million Issue Aadhar Housing Finance Ltd has confirmed the timely interest payment concerning its Non-Convertible Debentures (NCD) issued on a private placement basis. The company fulfilled its obligation, paying interest due to the debenture holders following an adjustment in the payment schedule required by a bank holiday.The NCD issue stands at Rs 145,00,00,000/- and is paid monthly. Aadhar Housing Finance managed the interest installment scheduled for the account holder on June 28, 2026, with the actual payment being completed on the subsequent working day, June 29, 2026.The details of the interest transaction are as follows:ParticularsDetails...