ICICI BANK:
Board approves acquisition of up to 2% additional stake in
ICICI Prudential AMC to retain majority control.
31st AGM scheduled for August 30, 2025; record date for
dividend eligibility set as August 12.
Also amends ADR agreement to grant voting rights to ADS
holders, subject to RBI nod.
INDUSIND BANK:
Rahul Shukla (HDFC Bank), Anup Saha (Bajaj Finance), and
Rajiv Anand (Axis Bank) are among the names being considered for the CEO role
at INDUSIND BANK.
The RBI has asked the bank to submit potential CEO
candidates by June 30, while informal discussions have already taken place.
The selection process remains ongoing, with the final list
yet to be officially submitted.
HEG, GRAPHITE INDIA:
Japan has imposed a
5-year anti-dumping duty on Chinese graphite electrodes, effective July 3,
2025.
This move curbs Chinese undercutting and opens up export
opportunities for Indian players like HEG and GRAPHITE INDIA.
It is expected to boost volumes and realisations, enhancing
margin visibility for Indian manufacturers.
JIO FINANCIAL:
SEBI approves Jio BlackRock Broking to operate as a
stockbroker and clearing member.
This move enables entry into capital markets services under
the Jio-BlackRock JV.
Boosts Jio Financial’s financial services footprint and
revenue potential.
MAZAGON DOCK:
JPMorgan maintains Underweight with a
target price of ₹3,027.
Colombo Dockyard acquisition may slightly reduce
consolidated profits and comes with execution challenges.
Company is profitable overall but currently facing losses on
export orders.
TEXMACO RAIL:
Management expects recent ₹535 Cr
export order to scale up to ₹1500 Cr within 24 months.
Margins on the order are in high teens, with execution
timeline of two years.
Exports projected to contribute 30% of total order book
going forward.
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