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Ace Softex Secures GBP 51,000 Purchase Order and Signs Strategic LOIs with UK Technology Enterprise
2 minutes agoAce Softex Ltd announced three strategic developments with a UK-based technology and data solutions enterprise. The company received a purchase order worth GBP 51,000 (approximately INR 60 lakhs) for specialized technology and resource augmentation services across testing, business analysis, and digital platforms. Additionally, Ace Softex signed a Letter of Intent to establish a Global Capability Center in India, valued at GBP 360,000 (approximately INR 4.21 crores) for the first year, which will function as a dedicated offshore delivery hub. The company also executed an exploratory LOI for potential strategic investment with the same UK enterprise. The UK client is an Ofgem-accredited technology company with over a decade of operations in energy markets, having invested approximately GBP 4 million in proprietary platforms over six years, with 60% of revenues from recurring SaaS-based models.

Puspraj R. Pandey has resigned from his position as Company Secretary & Compliance Officer at Asit C. Mehta Financial Services Limited. The resignation was submitted on August 26, 2025, with the reason cited as exploring career opportunities elsewhere. The effective date of resignation will be communicated after completion of the notice period as per his employment contract. Pandey holds qualifications including ACS, LLB, and B.Com, and his ICSI membership number is A38542.

Trump stated that interest rates need to be reduced to make housing more affordable. The statement addresses the relationship between interest rates and housing costs.

Trump Announces Federal Reserve Leadership Changes and Majority Plans
13 minutes agoDonald Trump announced that Federal Reserve Chair Powell has exited and stated that his administration will soon have a majority on the Federal Reserve. Trump indicated plans for potential leadership changes, suggesting a replacement for Fed's Cook and mentioning the possibility of moving Miran to a longer-term Federal Reserve position.

19 minutes ago
Brent crude oil prices declined by $1.58 or 2.3% to end at $67.22 per barrel. The drop represents a notable decrease in oil prices during the trading session.

25 minutes ago
The US Commerce Department issued final favorable decisions in anti-dumping and countervailing duty investigations on corrosion-resistant steel imports from Australia, Brazil, Canada, Mexico, Netherlands, South Africa, Taiwan, Turkey, UAE, and Vietnam. The ruling affects approximately $2.9 billion in imports and determined that steel imports from these countries were dumped or subsidized. The decision is expected to benefit the US steel industry. The International Trade Commission will issue a final ruling on the impact to the US steel industry.

US Commerce Secretary Lutnick announced that the Department of Commerce will begin publishing data related to blockchain activities. This initiative represents a new government effort to track and report on blockchain sector developments.

1 hour ago
Muthoot Finance Limited has priced USD 600 million worth of 6.375% Fixed Rate Notes due 2030 under its USD 2 billion Global Medium Term Note Programme. The Finance Committee of the Board approved the pricing, tenure and terms on August 26, 2025. The notes will mature on March 2, 2030 with an average maturity of 4 years and will be issued at 99.996% of face value. The company will make five amortization payments starting March 2029, with interest payments scheduled for March 2 and September 2 each year. The notes are secured by a first ranking pari passu charge over current assets, receivables including gold loan receivables. Proceeds will be used for onward lending activities in compliance with RBI's External Commercial Borrowing Guidelines and Foreign Exchange Management Regulations. The notes are proposed to be listed on NSE IFSC Limited with closing and settlement expected on September 2, 2025.

Donald Trump expressed approval of oil prices trading near $60 per barrel, describing them as 'good.' This statement reflects his view on current energy market pricing levels.

Mach Conferences and Events Limited's Board of Directors has recommended a dividend of Rs. 1.00 (10%) per ordinary equity share of Rs. 10 each for the financial year ended March 31, 2025. The dividend payment is subject to shareholder approval at the 21st Annual General Meeting scheduled for September 12, 2025, with the record date set as September 5, 2025. Following the Finance Act 2020 changes, dividend income is now taxable in shareholders' hands, requiring the company to deduct tax at source. For resident shareholders, TDS will be deducted at 10% for those with valid PAN, or 20% for those without valid PAN or unlinked Aadhaar. Resident individuals receiving dividends below Rs. 10,000 during FY 2025-26 are exempt from TDS. Non-resident shareholders face TDS at 20% plus applicable surcharge and cess, with potential DTAA benefits available. The company has communicated detailed documentation requirements for tax exemptions, with all relevant documents to be submitted by September 5, 2025.

Nazara Technologies disclosed three loan agreements between its subsidiaries on August 26, 2025. Kiddopia Inc. will provide up to USD 1 million (₹8.73 crores) to Nazara Technologies UK Limited for working capital, acquisitions, and expansion plans. Sportskeeda Inc. will grant up to USD 572,443 (₹5 crores) to Nazara UK for business and corporate purposes. Nazara Technologies (Mauritius) will provide up to GBP 367,000 (₹4 crores) to Nazara UK for business and corporate needs. All loans are unsecured and will be disbursed in tranches. The transactions are classified as related party transactions but are exempted under listing regulations as they occur between wholly-owned subsidiaries. Outstanding loan amounts exist for two of the agreements: USD 22.49 million for the Kiddopia agreement and USD 12.88 million for the Sportskeeda agreement.

Music Broadcast Limited disclosed that the Madras High Court issued an order directing the company to produce music logs for SIMCA members from August 2010 to December 2020 and calculate royalty payments at needle-per-hour rates as per individual agreements. The court gave the company four weeks to comply and scheduled the next hearing for September 26, 2025. The order does not require any immediate payment to the petitioner or court. Music Broadcast Limited plans to file an appeal against the order.

Federal Reserve Governor Lisa Cook will file a lawsuit challenging President Trump's decision to remove her from office. Trump dismissed Cook citing mortgage fraud allegations, but her lawyer states the president lacks authority to remove her and that the action has no factual or legal basis. Cook was appointed to the Fed Board in 2022 and has refused to resign, stating she will continue her duties. The removal followed a Justice Department probe into allegations that Cook made false statements on mortgage applications years before joining the Fed, specifically claims she listed multiple properties as her primary residence to obtain favorable loan terms. The Federal Reserve Act of 1913 allows presidential removal of board members only 'for cause,' traditionally interpreted as malfeasance or dereliction of duty. Legal experts suggest the dispute could reach the Supreme Court.

Thomas Sieber (DIN: 07311191) retired as Independent Director of HCL Technologies upon completion of his tenure on August 26, 2025. The Board acknowledged his contributions, noting that his insights and guidance helped shape the company's global growth strategy and established a strong foundation for the future.

Anlon Healthcare's Rs 121 crore IPO achieved 1.69 times subscription on its first day, with retail investors showing strong demand at 8.98 times subscription. The IPO offers 1.33 crore equity shares priced between Rs 86-91 per share, with subscription closing on August 29 and listing expected on NSE SME platform on September 3. The grey market premium stands at 4.4% above the upper price band. The Rajkot-based pharmaceutical company specializes in high-purity pharmaceutical intermediates and APIs, reporting revenue growth from Rs 66 crore to Rs 120 crore and net profit increase from Rs 9.7 crore to Rs 20.5 crore. The company operates over 65 commercialized products and has filed Drug Master Files across multiple regions. IPO proceeds will fund manufacturing expansion, debt repayment, and corporate purposes. Anand Rathi rated the IPO 'Subscribe - Long Term' while noting it appears fully priced at 19x P/E ratio based on latest earnings.
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Bajaj Finserv Limited announced the incorporation of Bajaj Technology Services Inc., a new step-down subsidiary in Delaware, USA, effective August 19, 2025. The subsidiary was incorporated by Bajaj Finserv Direct Limited with an initial share capital subscription of $1,000, representing 100% ownership. The new entity will provide technology services to clients in the USA and operates in the software services industry. The incorporation received approval from the Secretary of State of Delaware, Division of Corporation, USA. The transaction does not fall under related party transactions, and promoter groups have no interest in the new entity.

Sectoral and Thematic Mutual Funds See 1881% Surge in July Inflows Driven by New Fund Offers
2 hours agoSectoral and thematic mutual fund inflows surged 1881.8% in July, rising from Rs 475 crore in June to Rs 9,426 crore. New Fund Offers (NFOs) accounted for over Rs 7,400 crore of this inflow, representing the majority of total category inflows. Seven new funds launched in July including offerings from Axis, Bandhan, HDFC, ICICI Prudential, Mahindra Manulife, Nippon India and Sundaram, featuring themes like multi-factor strategies and momentum investing. The category had previously experienced volatile inflows throughout the year, dropping to Rs 170.09 crore in March before recovering. Large fund houses leveraged their extensive networks and distributor relationships to attract investors to newer thematic ideas. Market liquidity remains strong, with investors showing willingness to invest in fresh strategies after experiencing fatigue from lack of newer themes.

The Competition Commission of India has approved Adani Group's acquisition of up to 100% shareholding in Jaiprakash Associates, contingent on winning the ongoing insolvency proceedings. JAL entered corporate insolvency resolution process in June 2024 after defaulting on loan payments, with creditors claiming Rs 57,185 crore. The National Asset Reconstruction Company leads the claimants after acquiring stressed JAL loans from a State Bank of India-led consortium. JAL's assets include real estate projects like Jaypee Greens in Greater Noida and Jaypee International Sports City near Jewar International Airport, commercial spaces in Delhi-NCR, five hotel properties, four non-operational cement plants in Madhya Pradesh and Uttar Pradesh, and investments in various subsidiaries. Other companies including Dalmia Bharat, Vedanta Group, Jindal Power, and PNC Infratech have also received or sought CCI approval for their resolution plans. The Committee of Creditors is reviewing all resolution plans with voting scheduled for the future.

Russia-backed Indian refiner Nayara Energy has appointed Teymur Abasguliyev as chief executive officer, with his tenure beginning in September. Abasguliyev brings over two decades of global energy leadership experience, most recently serving as CFO of SOCAR Türkiye Enerji A.Ş., where he managed governance, financing, M&As and large-scale restructuring. He is a Fellow of the UK Association of Certified Public Accountants and previously spent 17 years at PwC, advancing to partner level. He has led multi-billion-dollar investments and transformation projects across refining, petrochemicals, gas distribution, trading and infrastructure. Outgoing CEO Sergey Denisov will transition to Chief Development Officer, focusing on petrochemicals and strategic initiatives.

Tata Steel Limited acquired 353,23,38,309 equity shares of T Steel Holdings Pte. Ltd (TSHP) for USD 355 million (₹3,104.03 crore). The shares have a face value of USD 0.1005 each. Following this acquisition, TSHP remains a wholly owned foreign subsidiary of Tata Steel. This transaction follows previous fund infusions disclosed on May 12, June 25, and July 10, 2025. The USD to INR conversion was calculated using the Reserve Bank of India exchange rate of ₹87.4375 as of August 22, 2025.

Dr Reddy's Laboratories expressed optimism that upcoming GST reforms will address structural challenges facing the pharmaceutical sector, including higher GST rates and inverted duty structure that impact domestic manufacturing costs and medicine affordability. Chairman Satish Reddy stated the reforms could introduce a rationalized, industry-friendly tax framework that would improve medicine accessibility and enhance India's global pharmaceutical competitiveness. The Association of Indian Medical Device Industry separately advocated for retaining 12% GST on most consumables while supporting 5% rates on high-value equipment, noting that current GST structures create margin pressures with devices taxed at 12% while inputs face 18% rates.

Trump made a statement indicating that domestic automobile production in the United States will become exciting within a two-year timeframe. The statement suggests anticipated growth or positive developments in the domestic automotive manufacturing sector.

2 hours ago
Mahindra Logistics announced leadership changes in its finance team following a board meeting on August 26, 2025. Saurabh Taneja will resign as Chief Financial Officer effective September 19, 2025, to pursue career opportunities outside the company. Isha Dalal will be appointed as the new CFO starting September 22, 2025. Dalal currently serves as SVP and Head of Group FP&A at Mahindra Group, responsible for financial planning, forecasting, budgeting and capital allocation. She previously worked at Hindustan Unilever leading FP&A and Supply Chain Finance, and has experience in private equity with Multiple Private Equity fund. Dalal brings over 15 years of experience across media, investment banking, private equity and corporate finance, and holds an MBA in Finance from Columbia University. The board approved these changes based on recommendations from the Nomination and Remuneration Committee and Audit Committee approval.

US and Russian Officials Discuss Energy Deals During Ukraine Peace Negotiations
2 hours agoU.S. and Russian government officials discussed several energy deals during negotiations aimed at achieving peace in Ukraine. The proposed deals included Exxon Mobil potentially re-entering Russia's Sakhalin-1 oil and gas project, Russia purchasing U.S. equipment for LNG projects like Arctic LNG 2, and the U.S. purchasing nuclear-powered icebreaker vessels from Russia. These deals were presented as incentives for the Kremlin to agree to peace in Ukraine and for Washington to ease sanctions on Russia. The discussions took place during U.S. envoy Steve Witkoff's trip to Moscow, where he met with Russian President Vladimir Putin and investment envoy Kirill Dmitriev. Trump has threatened additional sanctions on Russia and tariffs on India unless peace talks progress. Putin signed a decree allowing foreign investors, including Exxon Mobil, to potentially regain shares in Sakhalin-1, conditional on supporting the lifting of Western sanctions. Exxon exited Russia in 2022, taking a $4.6 billion impairment charge when its 30% operator share in Sakhalin-1 was seized. The Arctic LNG 2 project, majority-owned by Novatek, resumed natural gas processing in April at a low rate despite ongoing sanctions.

BNP Paribas Financial Markets executed bulk deals worth Rs 3,415.8 crore across multiple companies. The firm sold shares in Eternal Ltd. (Zomato parent) for Rs 51.1 lakh while acquiring 1.05% stake comprising 10.12 crore shares for Rs 3,220 crore. In Swiggy, BNP Paribas offloaded shares worth Rs 1,157 crore but acquired shares worth Rs 18.5 crore. The company sold 17.83 lakh shares representing 0.62% stake in Waaree Energies for Rs 583 crore, divested its Hitachi Energy stake for Rs 829 crore, and offloaded Vishal Mega Mart shares worth Rs 845 crore. Separately, US private equity firm TPG made a complete exit from Sai Life Sciences through its affiliate TPG Asia VII SF Pte, selling 3.07 crore shares (14.72%) for Rs 2,675 crore at prices between Rs 871.01 to Rs 871.86 per share. Goldman Sachs Singapore and Societe Generale were among the buyers of Sai Life Sciences shares.

Kesar Petroproducts delivered strong quarterly results with revenue from operations reaching Rs. 4,953 lakhs, marking an 8.14% year-on-year increase. The company's profitability improved significantly with EBITDA rising 148.25% to Rs. 921 lakhs and PAT surging 177.83% to Rs. 589 lakhs. EBITDA margin expanded to 18.59% while PAT margin reached 11.89%. The company operates at 60-65% capacity utilization across products, targeting 75% in the next two quarters. Revenue composition includes 80% from pigments and 20% from CPC Blue Crude, with focus on higher-margin downstream pigments. The company is developing a complex fertilizer plant using waste from pigment production, with commercial production expected from January 2026. This initiative includes a 2 MW captive power plant and could contribute 20-25% of revenue at 75% utilization. Management provided guidance of 20-25% revenue growth and 12-15% bottomline growth for the fiscal year, while targeting EBITDA margins in the 18-19% range. The company plans to reduce debt by 20-25% and aims for long-term growth of 20-25% per annum through operational efficiency, product diversification, and waste utilization initiatives.

Options traders are pricing in approximately a $260 billion swing in Nvidia's market value following the company's second-quarter earnings report. The options data indicates a roughly 6% move in either direction for the shares, below the 7% long-term average, suggesting investors may have better expectations as the company matures. Over the last 12 quarters, Nvidia's implied earnings move averaged 7.7% while actual moves averaged 7.6%. Traders are watching to see if the company's $4 trillion market valuation is justified and monitoring potential impacts from a recent revenue-sharing deal with the U.S. government. Nvidia shares have gained about 34% this year and closed at $179.81. Market analysts note that Nvidia's performance could influence other AI-related stocks, particularly more speculative names that have declined recently while Nvidia remains near all-time highs.

India's E-Commerce Sales Expected to Reach Rs 1.15 Lakh Crore This Festive Season with 20-25% Growth
3 hours agoIndia's e-commerce sector is projected to generate over Rs 1.15 lakh crore in gross merchandise value during the festive season, representing 20-25% year-on-year growth according to Redseer Strategy Consultants. This growth rate is nearly double last year's pace. The sector is expected to close 2025 with 17-22% growth, marking the strongest performance in three years. Quick commerce showed pre-festive growth of 150% while value commerce grew 30-35%, with both segments expanding beyond metros into tier-2 and tier-3 markets. Key growth drivers include repo rate cuts, increased tax-free income limit to Rs 12 lakh from Rs 5 lakh, and rural household income growth of 12% over four years. GST rationalization with simplified slabs of 5% and 18% by Diwali is expected to make goods cheaper. Category performance varies with fashion, beauty, personal care, and home sustaining over 20% growth, while grocery is expected to outperform with 80-90% growth driven by quick commerce. Horizontals are projected to drive two-thirds of festive sales.

Goldman Sachs acquired 1.1 million shares of Sai Lifescience through open market transactions. Societe Generale acquired 1.4 million shares of the company through similar open market transactions.

Sunil Singhania's Abakkus Asset Manager Acquires 6.43 Million Shares in Edelweiss Financial Services
3 hours agoSunil Singhania through Abakkus Asset Manager Pvt Ltd purchased 6.43 million shares of Edelweiss Financial Services via open market transactions. The acquisition represents a significant stake purchase in the financial services company.

CSB Bank held its 104th Annual General Meeting on August 26, 2025, where shareholders approved all 9 resolutions through electronic voting. Key approvals included adoption of audited financial statements for the year ended March 31, 2025, re-appointment of Madhavan Menon as director, and fixation of joint statutory auditors' remuneration. The bank appointed BNP & Associates as secretarial auditors and Biswamohan Mahapatra as Non-Executive Part-time Chairman. Pralay Mondal was re-appointed as Managing Director & CEO for three years from September 15, 2025 to September 14, 2028. Shareholders also approved continuing material related party transactions with promoter FIH Mauritius Investments Ltd and its subsidiary FIH Private Investments Ltd. The meeting was conducted through video conferencing with 64 shareholders attending, including 1 from the promoter group and 63 public shareholders. FIH Mauritius Investments Ltd's voting rights remain capped at 26% despite holding 40% of paid-up capital due to banking regulations.

Sarvottam Finvest Limited Board Approves 46th AGM Notice and Key Appointments
3 hours agoSarvottam Finvest Limited's Board of Directors held a meeting on August 26, 2025, approving several key items. The board approved the notice for the 46th Annual General Meeting scheduled for September 24, 2025, at 1:00 PM at the company's registered office in Kolkata. The annual report for the financial year ended March 31, 2025, was approved along with related reports. The company will close its register of members and share transfer books from September 18-24, 2025. Key appointments were approved including Mrs. Khushboo Jain as scrutinizer for the AGM voting process and as secretarial auditor, and Mr. Nagar Mal Agrawal as additional independent director. The board set August 15, 2025, as the cut-off date for shareholder voting entitlements, with remote e-voting scheduled from September 21 at 9:00 AM to September 23 at 5:00 PM.

Biocon Pharma received tentative U.S. FDA approval for its ANDA (Abbreviated New Drug Application) of Sitagliptin tablets in three dosage strengths - 25 mg, 50 mg, and 100 mg. These tablets are used to treat Type 2 diabetes.

Chambal Fertilisers and Chemicals Limited shareholders approved several key appointments at their 40th Annual General Meeting held on August 26, 2025. Mr. Abhay Baijal was reappointed as Managing Director for three years from July 21, 2025 to July 28, 2028. Mrs. Rita Menon was reappointed as Independent Director for a second five-year term from September 10, 2025 to September 09, 2030. Dr. Rakesh Jain was appointed as Independent Director for five years from July 15, 2025 to July 14, 2030. The company also appointed M/s. RMG & Associates as Secretarial Auditor for five consecutive years. All appointed directors are confirmed to be non-relatives of existing directors and are not debarred from holding directorial positions.

3 hours ago
Mustafa Suleyman, chief of Microsoft AI, has expressed concerns about users developing delusional attachments to AI systems due to their lifelike qualities. In a blog post, Suleyman warned about 'psychosis risk' where people may believe AI systems are conscious beings, potentially leading to advocacy for AI rights and citizenship. He noted that interacting with advanced AI models can feel highly compelling and real, blurring the line between simulation and reality. Research by EduBirdie found that one in four Gen Z users believe AI systems are already conscious, while 52% expect AI to develop consciousness in the future. OpenAI CEO Sam Altman echoed similar concerns about emotional dependence on AI, noting that bonds people form with AI models feel different and stronger than attachments to previous technologies. Suleyman urged the industry to establish ethical boundaries and emphasized building AI for people rather than as digital persons.

Market Commentary
3 hours agoForeign Institutional Investors (FIIs) sold shares worth ₹6,516.49 crores, while Domestic Institutional Investors (DIIs) bought shares worth ₹7,060.37 crores. The DIIs' purchases exceeded FIIs' sales by ₹543.88 crores.

Saudi Arabia and India emerged as the largest buyers of Russian seaborne fuel oil and vacuum gasoil exports in July. Saudi Arabia received approximately 1.1 million metric tons, maintaining similar levels from June, with most supplies directed to power plants during peak air conditioning season. India's imports increased 65% month-on-month to about 0.6 million tons, using Russian fuel oil and VGO as cheaper alternatives to Urals crude for refinery operations. Despite Russia remaining India's top oil supplier, overall oil imports to India declined 25% in July as refiners reduced purchases due to smaller price discounts. Singapore, Turkey, and Senegal also ranked among top destinations for Russian fuel oil exports.

3 hours ago
Pavna Industries Limited has acquired an additional 1.89 acres of land near Jewar Airport in Uttar Pradesh to expand its manufacturing capabilities. The automotive components manufacturer, which serves passenger vehicles, two-wheelers, three-wheelers, commercial vehicles, and off-road vehicles, views this acquisition as part of building a robust manufacturing and innovation hub. Managing Director Swapnil Jain stated the acquisition enhances the foundation for a scalable, future-ready manufacturing ecosystem as the region develops into an industrial center. The company operates manufacturing plants in Aligarh, Aurangabad, and Pantnagar, producing components like ignition switches, fuel tank caps, and throttle bodies for clients including Bajaj, Honda, TVS, Mahindra, and Royal Enfield.

KEC International Limited issued a corporate guarantee worth USD 13.20 million on August 26, 2025, for its subsidiary Al Sharif Group & KEC Limited Company. The guarantee was provided to an overseas bank that extended banking facilities to the subsidiary. The company stated that promoter/promoter group/group companies have no interest in this transaction. KEC International noted that the corporate guarantee represents a contingent liability for the company, with no present impact on operations.

Maruti Suzuki Chairman RC Bhargava stated that India does not need protection from US tariff measures to remain competitive in global markets. The company will scale its electric and hybrid vehicle production based on demand, with one production line having a capacity of 2,50,000 units. All current production is directed towards exports until domestic sales are announced. Bhargava advocated for tax differentiation between vehicle technologies based on fuel efficiency and pollution performance, noting that petrol and diesel vehicles are currently taxed the same as hybrid and CNG vehicles. He highlighted that globally, both EVs and hybrids are selling well, with hybrids slightly ahead in most countries except China. Prime Minister Modi flagged off Maruti Suzuki's e-Vitara and inaugurated the Suzuki Motor plant in Hansalpur for localized hybrid battery electrode production. The e-Vitara will be exported to over 100 countries, making India Suzuki's global manufacturing hub for electric vehicles. Maruti Suzuki shares closed 1.85% higher at Rs 14,720 on the NSE.

GHV Infra Projects Limited held its 2nd Extra-Ordinary General Meeting on August 26, 2025, where shareholders unanimously passed five resolutions. The approved measures include a stock split subdividing each equity share of Rs. 10 face value into two shares of Rs. 5 each, alteration of the capital clause in the Memorandum of Association, increase in authorized share capital, issuance of bonus shares, and appointment of Mr. Ravi Kumar Seth as an Independent Director. All resolutions received 100% approval from voting shareholders, with 86.12% of total shares participating in the voting process. The promoter group held 10,664,860 shares while public non-institutional shareholders held 3,750,140 shares out of total 14,415,000 shares.

Trinity Auto Points Ltd, a promoter group entity of Mercantile Ventures Limited, has increased its direct equity shareholding from 2,09,56,000 shares (18.72%) to 3,53,52,000 shares (31.58%). The increase resulted from the amalgamation of Golden Star Assets Consultants Pvt Ltd into Trinity Auto Points, which was sanctioned by the National Company Law Tribunal on July 24, 2025, and became effective on August 19, 2025. Golden Star previously held 1,43,96,000 equity shares representing 12.86% of Mercantile Ventures' equity share capital. The overall shareholding of the promoter and promoter group remains unchanged despite this internal restructuring.

Veedol Corporation Limited has appointed Mr. Brajesh Kumar Srivastava as a Non-Executive and Non-Independent Director effective August 26, 2025. The Board of Directors approved the appointment on August 26, 2025, subject to shareholder approval through postal ballot. Srivastava holds DIN 09835338 and is a postgraduate in Physics with an MBA in Human Resource Management. He has over 32 years of experience in various Government of India ministries across policy formulation, implementation, operations, human resources, finance and parliamentary matters. He currently works as Deputy Secretary in the Ministry of Heavy Industries and serves as Nominee Director on the Board of Andrew Yule and Company Limited. The company has issued a postal ballot notice dated August 26, 2025, seeking shareholder approval for the appointment through ordinary resolution via postal ballot forms and remote e-voting.

3 hours ago
Dishman Carbogen Amcis Limited received an Establishment Inspection Report (EIR) from the US FDA for its Naroda facility, indicating successful closure of the inspection. The FDA inspection was conducted from June 9-13, 2025 and completed on June 12, 2025. The company's facilities in Bavla and Naroda in India, along with multiple facilities in Switzerland and the Netherlands, continue to maintain US FDA approval.

The US administration is exploring ways to acquire stakes in defense sector companies that benefit significantly from government business. Commerce Secretary Howard Lutnick stated the government would consider taking stakes in companies where it adds 'fundamental value to a business.' This follows the US government's recent acquisition of a 10% stake in Intel, with White House economic advisor Kevin Hassett indicating more such transactions may occur across various industries. Lutnick highlighted that Lockheed Martin generates 97% of its revenue from the US government, describing it as 'basically an arm of the US government.' The Defense Department previously became the largest shareholder in rare earth miner MP Materials after acquiring $400 million worth of shares. MP Materials owns the only operational rare earth mine in the US, amid ongoing trade tensions with China over rare earth exports.

POWERGRID shareholders have approved a fundraising plan of up to ₹30,000 crore through bonds and debentures in FY 2026-27 to support growth and infrastructure expansion. Additionally, the company has approved a ₹209.38 crore investment for the North-Eastern Region Expansion Scheme-XXIII.

Nuvoco Vistas has approved a loan-to-equity conversion worth ₹508.65 crore in its subsidiary Vadraj Cement. This corporate action involves converting existing loans into equity shares within the subsidiary structure.

Cipla Completes Acquisition of 20% Stake in iCaltech Innovations
4 hours agoCipla has completed the acquisition of a 20% stake in iCaltech Innovations Pvt. Ltd. The pharmaceutical company has finalized this strategic investment in the private limited company.

Grasim Industries' market capitalisation reached approximately Rs 1,95,000 crore, approaching the Rs 2 lakh crore milestone, Chairman Kumar Mangalam Birla announced at the company's AGM. The Aditya Birla Group flagship reported consolidated revenue of nearly Rs 1,50,000 crore. The company invested Rs 67,000 crore in capital expenditure over five years between FY20 and FY25, with Rs 51,000 crore directed toward growth initiatives. Grasim expanded into decorative paints through Birla Opus and B2B e-commerce via Birla Pivot over the past 18 months. Birla Opus commissioned five manufacturing facilities and became the third-largest player in India's decorative paints industry within six months of launch, commanding approximately 24% of installed capacity. The paint business targets Rs 10,000 crore revenue by the third year of operations and aims to become the second-largest sector player.

A special court accepted the CBI's closure report in a case linked to the NSE co-location scam involving ISec Services, a company founded by Sanjay Pandey. The CBI found violations of SEBI circulars regarding audits of SMC Global Securities and Shaastra Securities Trading conducted by ISec Services, but determined there was insufficient material to establish criminal intent. The investigation found no complicity by NSE or SEBI officials in allowing inadequate audit reports. The case involved alleged fraudulent audits of two brokers during the co-location facility abuse period. The CBI stated that while stock brokers planned with ISec to evade third-party audits, lack of evidence made it impossible to determine the precise nature of unlawful activities. The agency found insufficient prosecutable evidence of actual trading system compromise and noted that NSE failed to establish robust verification mechanisms for audit reports. The court had previously rejected a closure report in 2023 and directed further investigation before accepting this latest report.