Borosil Renewables has announced that its German subsidiary, GMB Glasmanufaktur Brandenburg GmbH, has filed for insolvency under German Insolvency Code (InsO) before the jurisdictional court at Cottbus.

The decision follows a prolonged period of deteriorating market conditions in the European solar manufacturing ecosystem. and reflects the company's intent to sharpen strategic focus on the rapidly growing Indian solar sector.

GMB, with a capacity of 350 tonnes per day (TPD), had served European manufacturers of solar modules for their requirements of solar glass. However, demand erosion became drastic last year, as Chinese manufacturers flooded the European market with severely underpriced solar modules. European solar module manufacturers, amongst them stellar names like Meyer Berger started closing down. Demand for solar glass dropped precipitously, as module manufacturers started shutting down. Based on policies announced at EU and Federal level, Borosil continued support through its subsidiary, with operational adjustments and financial support totalling €27 million.

Unfortunately, in the absence of clear policy announcements and support, Borosil had few options left other than to stop haemorrhaging to the tune of € 0.9 million every month. The Indian market requires close attention and is presenting opportunities for expansion and development.

In the event, From July 4, 2025 — the date of the insolvency filing — GMB's operations will be overseen by a court-appointed administrator in Germany. Borosil will no longer account for GMB's financial losses, which had amounted to approximately INR 9 crore per month. Borosil will have to assess and account for any impact, on account of the aforesaid insolvency resolution process of GMB, in the forthcoming quarterly results. The exposure as of March 31, 2025 in the German subsidiary and step-down subsidiary is Euro 35.30 million.

The move frees up resources and management bandwidth for Borosil Renewables to further scale its core Indian operations, which are experiencing robust demand, policy tailwinds, and improving pricing environment following the imposition of anti-dumping duties on imports from China and Vietnam.

India's solar module manufacturing capacity has already surpassed 90 GW and is expected to rise to 150 GW by March 2027, presenting a strong demand environment for domestic solar glass. In May 2025, Borosil announced plans to increase its manufacturing capacity by 600 TPD through two new furnaces, investing approximately INR 950 crore. This would mark a 60% expansion over its current capacity of 1,000 TPD.

Moreover, supportive government policy, including the five-year anti-dumping duty introduced in December 2024, is creating a level playing field for Indian manufacturers. Prices for solar glass have strengthened significantly, with Q4 FY25 average ex-factory prices up 28% year-on-year as a result of a gradual increase in the selling prices towards the reference price under Anti-dumping duty measures applicable to imports from China.

Borosil Renewables remains committed to pioneering world-class solar glass technology, supporting India's energy transition, and creating sustainable long-term value for all stakeholders.

Punjab Chemicals & Crop Protection announced that the 49th Annual General Meeting(AGM) of the company will be held on 29 July 2025.

Siyaram Silk Mills announced that the 47th Annual General Meeting(AGM) of the company will be held on 2 August 2025.

JLR, a wholly owned subsidiary of Tata Motors, today reported its wholesale and retail sales for the first quarter of FY26 (three-months to 30 June 2025). Volumes reduced, in line with the company's expectations, following a challenging quarter. This largely reflects the planned wind down of legacy Jaguar models1 ahead of the launch of new Jaguar, and a pause in shipments to the US during April 2025 following the introduction of US import tariffs.

Wholesale volumes for the first quarter were 87,286 units (excluding the Chery Jaguar Land Rover China JV), down 10.7% year-on-year and down 21.7% compared to Q4 FY25. Compared to the prior year, wholesale volumes for the first quarter were up in MENA2 (20.5%), Overseas (4.6%) and China (1.0%), and down in North America (-12.2%), Europe (-13.6%) and the UK (-25.5%); the UK was most impacted by the planned cessation of the legacy Jaguar models.

Retail sales for the first quarter of 94,420 units (including the Chery Jaguar Land Rover China JV) were down 15.1% year-on-year and down 12.8% compared to Q4 FY25.

The overall mix of Range Rover, Range Rover Sport and Defender models was 77.2% of total wholesale volumes in Q1 FY26, up from 66.3% in the prior quarter and 67.8% year-on-year, reflecting the prioritisation of JLR's most profitable models.

JLR will report its full financial results for Q1 FY26 in August 2025.

Yash Trading & Finance will hold a meeting of the Board of Directors of the Company on 9 July 2025.

Tata Communications has issued and allotted Commercial Paper aggregating to an amount of Rs 600 crore on 04 July 2025. The said Commercial Paper is listed on National Stock Exchange of India Limited on 07 July 2025.

Karur Vysya Bank has revised Marginal Cost of Funds Based Lending Rates (MCLR) of the Bank with effect from 07 July 2025 as under:

Overnight MCLR - 9.25%
One month MCLR - 9.40%
Three month MCLR - 9.40%
Six month MCLR - 9.55%
One year MCLR - 9.55%

NIIT announced the appointment of Harsh Kundra as Head of Technology, NIIT Digital. Harsh will lead Technology for NIIT Digital and spearhead the next phase of digital transformation across the organization.

Harsh brings over a decade of leadership experience across product engineering, digital transformation, and enterprise architecture. Prior to joining NIIT, he served as the CTO at LEAD school and played a pivotal role in scaling its ed-tech infrastructure across the country. His entrepreneurial journey includes co founding and leading technology at two ventures — Tolexo Online and a B2B retail eCommerce platform. He has also held technology leadership positions at Jabong, Meritnation and Hindustan Times contributing to digital transformation initiatives across sectors including e-commerce, education, media, and SaaS.

SPML Infra has received the sanction of enhanced credit facilities amounting to Rs 205 crore. The credit facilities including the Bank Guarantee (BG) limit is sanctioned by one of the India's top Public Sector Undertaking (PSUs) Bank

Symphony announced that the 38th Annual General Meeting(AGM) of the company will be held on 1 August 2025.