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Swaminathan Janakiraman, a nominee director representing State Bank of India (SBI), has resigned as the Director of the company.

Adani Group has denied knowledge of the US Securities and Exchange Commission subpoenaing its investors over representations made by the company to them following allegations by Hindenburg Research that offshore companies were used to manipulate share prices. The group added that its disclosures were public record, and that regulators frequently sought access to such material

Adar Poonawalla-helmed Serum Institute of India (SII) is India’s most valuable unlisted company, according to the Burgundy Private Hurun India 500 list

Passive funds, designed to track the Nifty indices, contribute to the success of the passive funds sector, which has now achieved a total of Rs 7 lakh crore AUM, as of May. Growth in this sector has come from the failure of large-cap active funds to provide big returns.

Small Cap World Fund sold 7.7 lakh shares, or almost 1%, at an average price of Rs 1,437, making a gain of Rs 110 crore. The venture capital firm held approximately 8% stake in the company at the end of the March quarter. Aavas Financiers, predominantly a publicly owned company with 60.8% stake, offers housing loans to customers in semi-urban and rural areas.

The IPO is completely a fresh issue of equity shares up to Rs 592 crore.

The meeting came a day after the country passed a revised annual budget in hopes of securing a last gasp bailout from an International Monetary Fund programme that expires on June 30.

On Monday, Indian markets closed mixed after early gains. The S&P BSE Sensex was flat with a negative direction, while the Nifty50 index rose marginally. Notable stocks included ICICI Securities, which rose by 10%, as well as Natco Pharma, up nearly 3%, and SJVN, up 6.5% to reach a fresh 52-week high

The S&P BSE Sensex witnessed a minor loss of 0.01% on Monday, primarily caused by the underperformance of Reliance Industries, HDFC Bank, TCS, Larsen & Toubro, and Bharti Airtel. These companies contributed significantly to the decline in the market. Investors may delve into their financial performance

The Nifty Auto index closed 1.15 per cent up at 14717.85.