Recent Update

NEC-LCC JV received Rs.717.46cr LOA for Dhanoti reservoir, Churu under Yamuna Water Project; LCC share 30% (~Rs.215cr), 24-month EPC build plus 10-year O&M.

ONGC awarded 3-year charter for owned jack-up Discovery-I at Rs51.99 lakh/day (~$54,633). Secures one of three rigs facing H2FY27 dehire, at rate above recent weak $35-36k prints.

CFO Anurag Garg resigned effective 30 Nov 2026 to pursue other opportunities after over 12 years, offering transition support. Independent Director Dipa Hakani resigned effective 15 Jan 2027 citing precommitments, confirming no other material reason. Board noted both.

TACC Limited, wholly owned subsidiary, received approval for Rs609.50 crore incentive under MeitY's Electronics Component Manufacturing Scheme for Dewas anode material plant, subject to conditions.

Board approved BTA to acquire Magnumtuff India's Architectural and Automotive glass undertaking at Belgaum on slump sale for Rs 40.80 Cr cash. Target FY26 revenue Rs 36.2 Cr. Close by Nov 30, 2026. Second slump bolt-on after Glasstech; concretizes explored India acquisition and auto-glass entry, adding South India hub to serve Karnataka, Maharasht

Subsidiary Invergy India received Rs 33.71cr domestic supply order from Solarium Green Energy for 2kW on-grid Invergy solar inverters, dated Nov 5 2026, executable by Mar 31 2027.

Max Estates with minority partners secured 5.5-acre Sector 132 Noida mixed-use plot via NOIDA e-auction for Rs272cr (40% in 60 days, rest over 4 years), 5 lakh sq ft FAR potential, Rs1,500-2,000cr GDV plus lease income, near Estate 128/105 as faster-turn branch. Context: resolves awaited auction.

Secured multi-year European export order for high-precision machined castings worth about Rs12 crore annually, with potential to ramp to Rs50 crore annual run-rate in two to three years. Castings to be made using lost-foam technology at subsidiary Meeta Castings.

Board approved buyback of up to Rs130 Cr at max Rs750 per share via open market from non-promoter holders, indicative 17.33 lakh shares (1.44% capital), minimum deployment Rs97.5 Cr. First buyback on record, deciding 30 Oct proposal. Promoters excluded under open-market rules so pledged promoter holding stays intact; follows recent large instituti

Ricon Commodities Private Limited promoter group sold 98.65L via bulk sale: 187548900 to 177683900

Board on 6 Nov 2026 approved raising up to Rs 1,450 crore via rights issue of Rs 10 face-value equity shares to eligible shareholders as on record date to be notified, subject to regulatory approvals; price, entitlement ratio, timing to be set by Board/Rights Issue Committee.

Board approved rights issue of Rs10 face value equity shares for up to Rs1450 Cr to eligible shareholders as on record date (to be notified), subject to regulatory approvals. Second large equity funding after recent placement; scale marks step-change to fund pending truck-bus acquisition, capacity build and bus backlog under Mahindra integration.

Motion JVCo with Stonepeak, CPP and Castrol PACs announced open offer for up to 25.71 crore shares (26%) at Rs199.45 per share after Oct 30 indirect control acquisition. Context: provides awaited offer terms following control change.

Secured Rs25.25cr ex-GST RMU orders from Gujarat EPC contractors for distribution network; executable book rises to Rs496cr; 3,000-unit RMU pipeline; execution starts in 2 months over 9 months, supporting Vadodara utilisation.

Saudi subsidiary won $41mn (~Rs387cr) erection contract for Rabigh 2 IPP expansion (3 HRSGs, steam turbine, BOP piping), plus $11mn (~Rs105cr) optional; total ~$52mn (~Rs492cr); 20 months from Jan 2027.

Board approved unlisted private NCD issue to INRE FUND II for up to Rs75 Cr (Annexure says Rs28 Cr), 366 days, 20% coupon on redemption, secured by Bhiwandi land for monetization. First borrowing days after claiming debt-free post settlement; high 20% cost with land pledge signals cash stress and re-leveraging, complicating restart and pre-qualifi

Signed 10-year sales and purchase agreement with ADNOC for up to 4.0 million tonnes of LNG starting 2028, sourced from XRG's international portfolio, first purchase from that portfolio and ADNOC's fifth India supply deal via its global LNG marketing platform.

Won small Rs 16.06cr NHAI EPC order for NH-27 Assam rectification - minor bridge, service road, 3 FOBs - 18-month execution.

Board approved preferential issue of up to 62.5L convertible warrants at Rs301 each for Rs188.12 Cr to S Gupta Family Enterprises (50L) and KITARA PIIN (12.5L); EGM on 5 Dec 2026 for approval. Resolves pending fundraise decision; continues preferential-warrant funding after prior leg fully converted, but shifts to external non-promoter investors,

Board approved proposal to enter binding JV agreement with TKMS ATLAS Elektronik GmbH; authorised MD and Chairman to negotiate, finalise and execute; details to be disclosed on signing. Novel binding JV proposal formalising Atlas Elektronik technology partnership; advances shift from components to complete naval systems and positioning for larger

Indo Borax, promoter, pledged 5194560 shares (14%); holding 23844000 (64.26%) unchanged; mode pledge.

Won 2-year USD 380,000 (~Rs 3.61cr) export MSSP order from Sydney SaaS firm for 24x7 SOC, tool admin, IR retainer, VAPT; USD 190k/yr, upfront plus monthly advance, 15-day pay, starts by 15 Nov; MSA/PO pending.

Signed 10-year take-or-pay CDMO agreement with undisclosed European alternative-protein innovator for Ujjain fermentation capacity. Production starts at existing four 100kL facility, followed by new dedicated plant of several hundred thousand litres with expansion options to millions of litres. Context: converts advanced Europe term-sheet to defini

SAT's 5 Nov 2026 judgment set aside SEBI's 24 Jan 2023 Rs 26 cr penalty on Coffee Day over Rs 3,535 cr transfers to MACEL, ordering fresh SEBI probe within six months; company evaluating action.

DLF signed binding term sheet with Everstone to form JV to invest in IREO India companies across Delhi, Gurugram. DLF to invest Rs 3,750 crore for majority JV stake; JV to hold ~40% economic interest including at least 20% stake with governance rights. Closing in 2027 after due diligence.

DLF and Everstone signed binding term sheet to form JV to invest in IREO India companies across Delhi Gurugram, DLF to invest about Rs3,750 crore for majority JV stake holding about 40% economic interest, closing expected in 2027 subject to diligence and approvals.

TGPCB ordered immediate closure of Cohance's Suryapet site after an industrial accident killed an employee despite hospital care. Company says corrective actions started and it will seek early revocation. Financial impact unquantified. Context: fourth site-level regulatory action in about a year.

Shailendra Sinha resigned as Managing Director of Universus Photo Imagings effective close of business on November 5, 2026, citing preoccupation with other professional and personal commitments. No successor or interim appointment was disclosed in the filing.

Arabian Petroleum bagged ~Rs 9.5cr domestic lubricant supply order from MOIL for Nagpur and Balaghat sites, ~2.3% of FY26 revenue, larger than Oct HPCL order. No promoter interest, non-RPT.

Board on Nov 5 finalized Rs 60 crore unsecured 2-year credit facility from associate Nimbus (India) at 12% in tranches for business purpose, related-party at arm's length with shareholder approval at Sep 29 AGM. Context: second associate funding in a month as leverage builds.

Board on Nov 5 finalized Rs60 crore unsecured loan facility from associate Nimbus (India) Ltd in tranches at 12% for two years for business purpose, related-party at arm's length with Sept 29 AGM approval. Context: second associate facility in a month extending leverage build.

GAIL's wholly owned GMPL commissioned 1.25 MTPA PTA plant at Mangalore SEZ after 2023 CIRP acquisition of JBF Petrochemicals and extensive revival to strengthen domestic polyester/PET supply and cut imports, to be marketed as G-Tex. Context: ending revival overhang.

Won three domestic wagon orders totalling Rs428.55cr - Jujhar Logistics Rs329.53cr for 15 rakes, APL Logistics Vascor Rs68.04cr for 3 rakes, UltraTech Rs30.98cr for 1 rake - executable by Feb-Dec 2027.

Closed QIP on Nov 5, allocating 1.2 crore shares at Rs125 each, 1.58% discount to Rs127.01 floor, raising about Rs150 crore via placement document dated Nov 5. Context: completing debt-reduction funding for Phase-2 expansion.

Kanishk Aluminium India said CFO Nitin Pandya resigned for personal reasons and new opportunities, relieved effective close of business Nov 2, 2026, with no successor announced.

Q2 FY27 Consolidated Results YoY: Revenue at 6185 Cr vs 4155 Cr, up 48.8%. EBITDA at 235 Cr vs 108 Cr, up 116.9%. EBITDA Margin at 3.8% vs 2.6%, expansion of 120bps. Appointed PwC as joint auditor and Keskar as independent director. Context: fills VDA-linked vacancies. Board approved QIP up to 900 Cr and 26% sale to Restar. PAT at 131 Cr vs 59.2

CIT(A)-12 Ahmedabad quashed AY 2016-17 assessment order, cancelling Rs 64.15 lakh disallowances and Rs 28.95 lakh tax demand. Appeal partly allowed with no operational impact.

Seeks EGM approval Nov 30 for Rs500 Cr loans plus Rs500 Cr guarantees/securities to paper JV TCAMPL, Rs750 Cr borrowing and investment limits, and material RPTs up to Rs500 Cr loans. Context: scales funding headroom well beyond prior equity indication for JV build.

SEBI granted Arihant Capital in-principle approval on Nov 5, 2026 to sponsor a mutual fund. Company to set up AMC and trustee company; final registration subject to conditions.

Q2 FY27 Consolidated Results YoY: Revenue at 5.4 Cr vs 7.6 Cr, down 29.2%. EBITDA swung to a loss of 0.3 Cr vs profit of 0.2 Cr. PAT loss widened to 0.8 Cr vs loss of 0.2 Cr. EBITDA Margin at -4.7% vs 2.8%, contraction of 750bps. Trading down 49% while cashew down 18.5%. Board approved Mumbai property sale for up to 5 Cr. EBITDA loss reflects Oth

Board on Nov 5, 2026 approved Rs 10 crore corporate guarantee to HDFC Bank for credit facilities of subsidiary Prime NMS Private Limited, on arm's length basis. Company says no immediate financial impact but creates Rs 10 crore contingent liability payable on subsidiary default.

Declared L1 for NHAI's Vadodara-Mumbai Expressway balance work (Karvad-Jujuwa, Pkg-IX) in Gujarat on EPC mode for Rs865.9 crore excluding GST, to be executed in 18 months with 10-year defect liability period. Context: in line with typical order scale.

Kwick Forensic received two orders totalling Rs 2.53 crore including GST from Forensic Science Department, Chennai for supply of 8-capillary and 24-capillary Genetic Analysers, executable within 3 months by February 4, 2027.

Connplex reached 152 screens across 54 properties in 39 cities across 12 states with 12,930 ultra-comfort seats as of 5 Nov 2026. Context: first screen update since FY26 results after H1 gave none, showing pipeline conversion.

Board on 5 Nov 2026 allotted 206.7Cr 2% non-cumulative NCPS of Rs10 for Rs2067 Cr via loan conversion to Alstone Rs620 Cr, Genesis Rs722 Cr, Hillridge Rs725 Cr, 20-year redeemable at par. No fresh cash; converts loans to long-dated pref, completing long-pending placement earlier shown as not started. Allottees are existing lenders, easing repaymen

Commissioned 3.15 MW captive windmill at Bhimguda, Gujarat on 04.11.2026 in presence of GEDA officials, completing delayed IPO-funded renewable project to cut power costs.

Board approved acquisition of 23-acre leased industrial land at Gopalpur Industrial Park, Odisha from Tata Steel Special Economic Zone for Rs41cr including taxes, stake not specified, for new chemical manufacturing unit, cash-funded, non-related party, completion pending. Context: first Odisha greenfield step after board-approval delay.

Signed Rs210 crore export MoU with leading European client, building on Rs603 crore FY26 and Rs397 crore H1FY27 exports and entry into Latvia, Brazil, Jamaica, Somalia. Cited 180,000 MTPA Alu-Zinc and upcoming pre-painted expansion to 236,000 MTPA to support demand.

Statutory auditor Pankaj R Shah & Associates resigned effective 5 Nov 2026 citing preoccupation with other assignments. Firm was appointed Aug 2022 for five years to Aug 2027, had completed FY26 audit and Q1-Q2 FY27 reviews. No concerns or other material reasons cited; ADT-3 to follow.

Ind-Ra upgrades Raj TV to IND B/Stable from D