PRE-MARKET INDIAN STOCKS NEWS: IDFC First Bank (IDFCB IS) disclosed a INR 5.9bln fraud linked to a Haryana government account at its Chandigarh branch

Cipla (CIPLA IS) – Co. said the US Food and Drug Administration designated an “Official Action Indicated” status for a Greek manufacturing facility operated by partner Pharmathen International, which supplies Lanreotide Injection to its US business, a move that could delay fresh product approvals from the site pending remediation. (Business Standard)

IDFC First Bank (IDFCB IS) – Co. reported an INR 5.9bln fraud involving a Haryana government account at its Chandigarh branch. (Newswires)

RailTel Corporation of India (RAILTEL IS) – Co. announced it has been awarded an INR 11.4bln contract. (Moneycontrol)

UPL (UPLL IS) – Co. said its board cleared a composite restructuring plan to carve out its Indian and global crop protection operations into a separately listed entity, including the merger of UPL Sustainable Agri Solutions into the parent, the demerger of the domestic crop protection business into UPL Global Sustainable Agri Solutions and the amalgamation of UPL Cayman into UPL Global, resulting in two listed companies. (Business Standard)

Zee Entertainment Enterprises (Z IS) – Co. said India’s Securities and Exchange Board has issued a fresh show-cause notice to the company and its senior executives, reviving probes into alleged fund diversion and governance shortcomings that previously derailed its merger with Sony Pictures Networks India. (Business Standard)

Other News – Indian trade officials have deferred a planned US visit this week aimed at concluding an interim trade pact, following the US Supreme Court’s ruling against US President Trump’s tariffs. (Newswires)