Markets

RBI Cracks Down: Monetary Penalty Imposed on Lalgudi Urban Bank for Defying Prudential Norms The Reserve Bank of India (RBI) has imposed a significant monetary penalty on The Lalgudi Co-operative Urban Bank Ltd., Tamil Nadu. The action, confirmed by an order dated June 22, 2026, sees the bank fined ₹ 1 lakh for non-compliance with key prudential directions issued by the central bank.The penalty was levied in exercise of powers conferred upon RBI under Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949. This regulatory action stems from supervisory findings related to the bank's financial position as of March 31, 2025.Violations of Capital Adequacy Norms RBI’s investigation into the Lalgudi...

Industry Veteran Anil Kumar Matai Appointed as Independent Director of Jagsonpal Pharmaceuticals Gurugram, India | June 25, 2026 – Jagsonpal Pharmaceuticals Ltd has announced the appointment of Mr. Anil Kumar Matai as an Independent Director to the Company's Board, effective June 25, 2026, pending shareholder approval.Mr. Matai joins the board bringing extensive leadership experience across the pharmaceutical and healthcare sectors. He possesses more than three decades of distinguished career experience, having held senior leadership positions where he was instrumental in driving strategic growth, operational excellence, and business transformation within the industry.Manish Gupta, Managing Director of Jagsonpal Pharmaceuticals...

L&T Power Development Completes Divestment of Nabha Power Limited Equity Larsen & Toubro Limited's wholly owned subsidiary, L&T Power Development Limited (L&T PDL), has successfully completed the divestment of its interest in Nabha Power Limited (NPL). The transaction involved the sale of 100% of the equity and convertible instruments held by L&T PDL in NPL.Following the closing of the transaction, L&T PDL received a consideration of ₹ 3,632.35 crores for the divestment, which accounts for adjustments made at the time of closing. This sale concluded the initial ownership stake previously held by L&T PDL in Nabha Power Limited.While the bulk of the equity was divested, L&T PDL retains a residual interest in NPL. The company continues...

Aprameya Engineering Secures Rs 5.84 Crores Working Capital Term Loan from Punjab National Bank Aprameya Engineering Limited has finalized a loan agreement with Punjab National Bank to secure a working capital facility for its business operations. The agreement, dated June 24, 2026, provides the company with essential credit required for its core business purposes.The collaboration between Aprameya Engineering Limited and Punjab National Bank is intended to obtain necessary credit under the terms of a Working Capital Term Loan through ECLGS 5.0. This facility totals Rs 5.84 Crores.Key details regarding the loan agreement are as follows:ParameterDetailsLenderPunjab National BankBorrowerAprameya Engineering LimitedLoan...

Manglam Infra Secures Contract from MORTH for Upgradation of NH-66 in Maharashtra Manglam Infra & Engineering Limited has secured a consultancy services contract from the Ministry of Road Transport & Highways (MORTH) concerning the Operation and Maintenance of crucial road works in Maharashtra. The contract, which is set to run for 36 months, involves providing Independent Engineer services for the rehabilitation and up-gradation of specified sections of NH-66.The total contract price awarded to Manglam Infra & Engineering Limited amounts to Rs. 4,98,45,600/-.The project encompasses two major sections of National Highway 66 (NH-66). The first section involves the Rehabilitation and Up-gradation of NH-66 (formerly NH-17) from Km...

Ravindra Energy Limited Allots 19.85 Million Shares at Rs 101 Per Share on Rights Issue Ravindra Energy Limited announced the successful allotment of equity shares issued on a rights basis. The Finance Committee approved the allocation after considering the terms related to the rights issue.The Company allotted 1,98,54,940 fully paid-up equity shares to eligible shareholders and renouncees. These shares were offered at a price of Rs 101/- each, which includes a premium of Rs 91/- per share. The allotment followed the terms set forth in the letter of offer dated June 3, 2026, and the corrigendum issued on June 12, 2026.The issuance accounted for a combined value of Rs 2005.35 million, as noted during the process.Company Capital...

Cholamandalam Investment Ranked in 2025 Burgundy Private Hurun India 500 List Cholamandalam Investment and Finance Company Limited, the financial services arm of Murugappa Group, has been listed in the prestigious 2025 Burgundy Private Hurun India 500 list. This ranking recognizes India's most valuable companies based on their value creation and contribution to the nation's economic growth.The recognition highlights Chola's consistent growth, robust financial performance, and focus on customer-centricity within the evolving Indian financial services sector.Executive Chairman of Cholamandalam Investment and Finance Company Limited, Mr. Vellayan Subbiah, stated that the acknowledgement reflects the trust placed in the company by its...

Torrent Power Completes Acquisition of Nabha Power Limited, Establishes Wholly Owned Subsidiary Torrent Power Limited has completed the acquisition of 100% equity shares and convertible instruments of Nabha Power Limited (NPL). The transaction saw Torrent acquire the company from L&T Power Development Limited, making NPL a wholly owned subsidiary of Torrent Power, effective June 25, 2026.The acquisition was finalized at a total consideration amounting to ₹ 3632.35 Crore, which factored in closing adjustments.This completion marks the finalization of the purchase agreement process for Nabha Power Limited (NPL). The transaction follows earlier communications regarding Torrent Power's intention to acquire NPL and receipt of necessary...

GACM Technologies Approves UK Subsidiary Creation for International Expansion; Discusses Preferential Share Issue GACM Technologies Limited, during its Board of Directors meeting held on Thursday, June 25, 2026, approved several strategic corporate decisions aimed at expanding its international presence and addressing capital structure matters. The board sanctioned the incorporation of a Wholly Owned Foreign Subsidiary (WOFS) in the United Kingdom (UK).The WOFS is intended to facilitate the Company's growing international business operations. Details regarding the newly incorporated entity include:ParticularsDetailName of EntityAURATRUST TECH LIMITEDCountry of IncorporationUnited Kingdom (UK)Industry FocusSoftware...

Aditya Birla Money Limited Increases Authorized Share Capital, Boosting CapacityThe Board of Directors of Aditya Birla Money Limited has approved a significant increase in the company's authorized share capital following a meeting held on June 25, 2026. This expansion alters the company’s Memorandum of Association and prepares it for future growth initiatives.The decision involves expanding both equity and preference shares. The existing Authorized Share Capital of ₹33,00,00,000 is being increased to ₹333,00,00,000 through the creation of additional shares. This expansion incorporates 10,00,00,000 Equity Shares and 2,90,00,000 Preference Shares into the authorized structure.The company's Authorized Share Capital structure has been...

GACM Technologies Approves UK Foreign Subsidiary and Discusses Preferential Share Issue GACM Technologies Limited, at a meeting of its Board of Directors held on June 25, 2026, approved the incorporation of a Wholly Owned Foreign Subsidiary (WOFS) in the United Kingdom (UK). The board also deliberated on a proposal concerning a preferential issue of equity shares to non-promoters for the acquisition of stakes in two private limited companies.The Board meeting, which concluded at 04:00 P.M. (I.S.T.), held at the company’s Hyderabad office, covered various business matters, including setting up international operations and reviewing potential transactions.Key Decisions from the Board Meeting 1. Incorporation of Wholly Owned Foreign...

Innovision Limited Secures Toll Collection and Facility Maintenance Contract from NHAI Innovision Limited has been awarded a significant contract by the National Highways Authority of India (NHAI). The award pertains to the engagement of Innovision Ltd as a user fee agency for the Ghamroj Fee Plaza located in Gurgaon-Sohna/NH-248, covering both Haryana and Rajasthan.The work order was granted by NHAI on June 24, 2026, and Innovision Limited received the Letter of Award on June 25, 2026.Contract Scope and Commercial Terms The contract involves not only toll collection but also the comprehensive maintenance of facilities at the site. The scope of work includes the upkeep and maintenance of adjacent Toilet blocks, as well as the...

Divgi TorqTransfer Systems incorporates Wholly-Owned Subsidiary in United States of America Divgi TorqTransfer Systems Limited has completed the incorporation of a wholly-owned subsidiary in the United States of America, establishing its presence in the global market. The new entity has been officially registered in Delaware.The newly incorporated company is named Divgi Transmission Technologies And Systems Inc., and it holds its registered office at 8th Green Street in DOVER, County of Kent. This move positions the subsidiary within the competitive Automotive Industry sector.Divgi TorqTransfer Systems Limited will serve as the holding company for the proposed foreign subsidiary. The primary focus of the new entity is Advanced...

Addictive Learning Technology Approves Shift to Quarterly Results and Reappoints Internal Auditor Addictive Learning Technology Limited, which was previously known as Addictive Learning Technology Private Limited, announced key decisions made during its Board of Directors meeting held on June 25, 2026. The board approved changes related to the company's financial reporting structure and the internal auditing function for the upcoming fiscal year.During the meeting, the Company sanctioned a change in how its financial results would be declared. Previously reported on a half-yearly basis, the Board of Directors now approved shifting the declaration of these financial results to a quarterly schedule.Additionally, the board greenlit the...

CIE Automotive India Sells 27.89% Stake in Ojaha Renewables for Rs. 1,62,00,000 CIE Hosur Limited, a wholly owned subsidiary of CIE Automotive India Limited, has completed the divestment of its stake in Ojaha Renewables Private Limited (ORPL). The company sold all 2,02,500 equity shares of ORPL to CSE Development (India) Private Limited for a consideration of Rs. 1,62,00,000.The sale concludes the previous investment made by CIE Hosur Limited in Ojaha Renewables Private Limited. Originally, CHL had subscribed up to 27.89% of the equity share capital of ORPL through a Share Subscription and Shareholders Agreement (SSSHA) on January 29, 2024. This investment was intended to support ORPL’s procurement of green energy from captive solar...

Smartworks Acquires Singapore Flex Space Provider to Expand Asian Footprint Smartworks Coworking Spaces Limited has approved the acquisition of WorkStudio Spaces Pte. Ltd., a flex space provider, aiming to significantly bolster its presence in the international business hub of Singapore. The decision was ratified by the company's Audit Committee and Board of Directors during meetings held on June 25, 2026.The acquisition involves Smartworks Space Pte. Ltd., a wholly-owned subsidiary of the company. Upon finalizing the transaction, WorkStudio Spaces Pte. Ltd. will become a step-down subsidiary of Smartworks Coworking Spaces Limited. The purchase is intended to expand the company's coworking and flex space portfolio in Singapore, which...

Dhanuka Agritech Completes Buyback, Extinguishing 5 Lakh Equity Shares Dhanuka Agritech Limited has completed the extinguishment of five lakh fully paid-up equity shares following a successful buyback transaction. The company confirmed that 500,000 shares, each having a face value of Rs. 2, were extinguished after being accepted under the purchase offer.The buyback resulted in a change in the company's share capital structure and was confirmed by necessary regulatory bodies and registrars.Capital Structure Reconciliation The extinguishment of these equity shares led to specific adjustments in the company’s issued and paid-up share capital, which is detailed below:ParticularsNo. of Equity SharesAmount (in Rs.)Pre...

RPSG Ventures Acquires Clarionix Healthcare; Launches Scheme Merging WMHL and Transferring Hospital Business RPSG Ventures Limited announced two major corporate actions: the acquisition of 100% equity in Clarionix Healthcare Private Limited, establishing a new subsidiary focused on medical services, and the launch of a composite scheme involving Woodlands Multispeciality Hospital Limited (WMHL) aimed at integrating hospital operations into the company structure.The Board of Directors approved the details of the strategic acquisitions and arrangements, which are subject to receiving necessary approvals from regulatory authorities including the National Company Law Tribunal (NCLT) and relevant stock exchanges.Acquisition of Clarionix...

Pokarna Limited Reaffirms Disclosure Compliance Amid Stock Price Queries Pokarna Limited has addressed queries from the Bombay Stock Exchange (BSE) and the National Stock Exchange of India Ltd. (NSE) concerning the movement in its scrip's price. The company stated that it maintains a consistent record of disclosing all material information pertaining to the operations and performance of Pokarna Limited.The clarification was provided in response to surveillance requests received from both exchanges regarding the stock's recent volatility.Pokarna Limited asserted that it has consistently disclosed all necessary material events and operational details to the stock exchange(s) within the mandated timeframe, adhering to relevant Listing...

Aster DM Healthcare Fixes Record Date for Amalgamation with Quality Care India Limited Aster DM Healthcare Limited has set July 9, 2026, as the official Record Date to determine the entitlement of shareholders of Quality Care India Limited (QCIL) under their Scheme of Amalgamation. The decision was made following a Board meeting held on June 25, 2026, relating to the amalgamation with QCIL.The company confirmed that its Board took on record the order issued by the National Company Law Tribunal (NCLT), Hyderabad Bench, dated June 19, 2026, which approved the Scheme of Amalgamation between Aster DM Healthcare Limited and Quality Care India Limited.In accordance with the terms outlined in the Scheme, the Board fixed July 9, 2026, as...