Recent Update

Promoter Vikas Garg taken into custody by the Enforcement Directorate under PMLA, in continuation of an FPI transaction probe. The company says there is no material impact on business operations, which continue in the ordinary course.

Powerica Limited has won a 100 MW wind project bid from SECI's 2,000 MW tender at a discovered tariff of ₹3.85 per unit. The project adds to its 330.85 MW operational portfolio and will be executed with in-house engineering capabilities.

Majestic Auto settled a long-standing dispute with ARC regarding Sharan Hospitality's Resolution Plan, enabling implementation. A Securities Purchase Agreement with buyers for resulting securities was also signed. The plan involves a total payment of ~₹105.4 Cr, pending Supreme Court order.

Vikas Ecotech disclosed promoter Vikas Garg was taken into custody by the Enforcement Directorate under the Prevention of Money Laundering Act. The company stated business operations remain unaffected and it is evaluating legal steps.

Aris Infra Solutions secured a ₹79.05 crore work order for loading, transportation and disposal of excavated tunnel material for the GMLR Project (Mumbai).

Promoter Vikas Garg arrested by Enforcement Directorate under PMLA for FPI transaction probe. Company says business operations unaffected, continues to evaluate. Earlier proceedings disclosed.

HCL Infosystems informed that the Supreme Court dismissed the Income Tax Department's SLP, upholding the Delhi High Court ruling. A Rs 14.90 crore tax demand related to FY 1997-98 compensation from HP is now resolved in the company's favor, eliminating the liability.

EKI Energy's CFO and Whole Time Director Mohit Agarwal resigned effective July 15 due to personal reasons. Board appointed Pooja Jorway, an internal candidate with eight years of experience and MD's office exposure, as CFO and Whole Time Director from July 16.

Promoter/Director Vikas Garg taken into custody by the Enforcement Directorate under the Prevention of Money Laundering Act, linked to an investigation into FPI investments. The company states no material impact on business operations.

GTPL Hathway's CFO Saurav Banerjee will demit office on September 30, 2026, upon attaining superannuation, per a regulatory intimation. No successor was named.

The Ballygunge Family Trust and PACs announced an open offer to acquire 26% of Shankara Building Products at ₹150/share. The offer rectifies a past regulatory breach and consolidates promoter holding from 49.52% to 75.52%.

Chief Financial Officer Pradyumna Kumar Satpathy has resigned, effective August 15, 2026, citing pre-occupation and personal reasons. No successor has been announced.

Board approved issuance of 34.23 lakh convertible warrants at Rs 526/share aggregating Rs 180 Cr to promoter group entity Mysore Holdings. Also approved issuance of NCDs up to Rs 1500 Cr on private placement basis. Final dividend of Rs 2 per share recommended; record date August 5, 2026.

Lokesh Machines received a Rs. 58.2 crore order from the Ministry of Defence (Army) for MOD kits for 7.62MM Medium Machine Guns.

Simplex Castings' order book crosses ₹130 crore with 4-6 month execution, supported by steel and power demand. Official fabrication partner for SAIL and recurring orders from major clients provide strong revenue visibility.

Rajan Sethuraman resigned as CEO effective immediately, transitioning to Strategic Advisor to the CEO. Sonal Ramrakhiani appointed as new CEO, bringing over two decades of global leadership experience, most recently leading Wipro Engineering Edge in the Americas.

Board revoked the Rights Issue previously announced on 7th May 2026 due to unavoidable circumstances.

Board accepted resignation of CFO Mr. Narayan Barasia (effective 15 July 2026) and appointed Mr. Sanket Agrawal (currently Chief Strategy Officer & IR) as new CFO effective 16 July 2026. Updated list of authorized officials for materiality determination also approved.

Aeroflex Neu board approved sale of its 51.01% stake in material subsidiary Fibcorp Polyweave for ₹1.92 crore and modified warrant issue object to include real estate, data centers, and hospitality. Two independent directors appointed.

Board approved early redemption of Rs 180 crore outstanding 12.5% unlisted NCDs, originally maturing in February 2030. Redemption date to be mutually agreed with debenture holders, record date June 20, 2026.

India Pesticides received EU Technical Equivalence approval for a fungicide, opening the European market and expected to boost exports.

Vinay Bansod resigned as CEO, stays as Whole Time Director. Board appointed Mohan Ramachandran as CEO effective July 16; he has 32+ years in automotive/industrial manufacturing and prior leadership at Eicher, Mahindra, Cummins, Milacron.

Danube Industries intends a strategic tie-up with Shree Info Solutions, providing financial support for IT expansion. The company targets Rs 250 crore turnover and plans an Aero Defence division to enter aerospace, defence and advanced technology.

Chief Financial Officer Shekhar Madhukar Nagwekar has resigned for personal reasons, effective August 14, 2026, after the close of business.

The Income Tax Appellate Tribunal quashed the first appellate authority's order and remanded the company's tax assessment dispute for fresh adjudication, offering temporary relief but no final resolution.

Board approved altering IPO objects to utilize the unutilized ₹63.74 Lakh for acquiring 4 Crochet Knitted, 12 Coiling, and 12 Stitching Machines, enabling expansion into zipper chains and finished zippers. Shareholder approval sought via postal ballot; NSDL as e-voting agency, CS Hardikkumar Jetani as scrutinizer appointed.

Board withdrew the proposed preferential issue of 9.5 lakh equity shares at Rs 93.80 per share to promoter group entity, citing significant share price decline and investor concerns. No material impact on operations; company may consider fresh fundraise later.

The company corrects its earlier investment disclosure, increasing the amount invested in Huwel Lifesciences Private Limited to INR 7.5 crore for a 2.06% stake, up from the previously stated INR 4 crore. All other terms remain unchanged.

Subsidiary Pune Finvest Limited received IRDAI approval to act as a Corporate Agent (Composite), registration number CA1139, enabling insurance distribution.

Board approved availing secured loan facility of up to Rs 1.53 crore from Cholamandalam Investment and Finance Company, with interest rate not exceeding 10.50% p.a. and tenure up to 168 months, secured against company's property in Ahmedabad. Authorized MD to finalize terms and execute documents.

L.T. Elevator commenced construction of its Integrated Manufacturing Facility, expected to be commissioned in Q4 FY27. The plant will increase capacity ~2.5x to a peak revenue potential of ₹400 crore. The company's FY26 revenue crossed ₹111 crore.

Monarch Surveyors received a work order worth Rs. 4.36 crore from District Superintendent of Land Records, Parbhani for licensed surveyor services, expected to positively impact business.

Received a small Rs 56 lakh purchase order from Tata Power Renewable Energy for borewell supply and services.

Amara Raja commissioned its Customer Qualification Plant (CQP) at its Giga Corridor in Telangana. The ₹500 crore facility will produce Li-ion cells for OEM validation starting August 2026, with commercial-scale 2 GWh production targeted for CY2027.

provides credit and financial services to educational institutions

Chief Financial Officer Bindu Bhardwaj resigned effective July 16, 2026, citing personal reasons. The company confirmed no other material reasons exist.

Board approved addition of real estate and infrastructure objects to the company's Memorandum of Association, and a name change from 'Elegant Floriculture & Agrotech India Limited' to 'Elegant Infrastructure Limited', subject to shareholder and regulatory approvals.

Bajaj Mukand signed a term sheet to sell ~9.2 acres of land in Kalwa, Thane, to AGP DC Infra for ~₹506 crore at ₹55 crore/acre, with a ₹10 crore advance. The sale aims to unlock value without impacting operations and is subject to approvals.

The Serious Fraud Investigation Office (SFIO) has initiated an investigation into the company and its subsidiary, Orissa Steel Expressway Private Limited, under Section 212(1)(c) of the Companies Act, 2013, and is calling for information under Section 217(1). The company states there is no current material financial impact.

Board meeting on July 22, 2026 to approve Q1 unaudited results and a proposal to raise up to INR 4,000 Crore via private placement of non-convertible debentures.

CSM Technologies secured a World Bank-funded project from Malawi's PPPC to design and commission an Electronic Auctioning Platform under the Digital Malawi Acceleration Project. The 12-month assignment is valued at INR 32.08 million.

Board approved fundraise of up to ~100 Cr via preferential issue of 86.95 lakh warrants at Rs 115 each to promoters and non-promoters. EGM for shareholder approval on August 10, 2026.

Board approved raising up to Rs 40 Cr through a rights issue of equity shares to existing shareholders. A Rights Issue Committee was constituted to manage the process, including filing draft letter of offer and appointing intermediaries.

SWSAPL, a step-down subsidiary, commenced arbitration against Shell New Energies Australia under LCIA Rules. It claims up to AUD 28.0M and USD 1.64M in damages plus interest and costs under EPC and O&M contracts for the Gangarri Solar Farm.

Apollo Microsystems secured orders worth INR 1,343.45 million from DRDO, Indian Navy, Defence PSUs, state govt and private industries. Its step-down subsidiary IDL Explosives won a INR 552.20 million order over two years.

Mylan Inc (non-prom) sold 9.19Cr sh (5.64%) in Biocon via open mkt; before 9.19Cr, after nil.

Design and manufacture defence electronic systems, radar, and counter-drone solutions.

Raymond Realty signed an 8th Joint Development Agreement for a premium residential project in Parel, Mumbai. The project has an estimated GDV of ~₹8,500 crore, the largest outside its Thane land parcel, taking total portfolio GDV to ~₹52,000 crore.

Goldiam secured ₹60 crore export orders for lab-grown diamond jewellery from US clients, to be fulfilled by October 2026, strengthening near-term revenue momentum.

Promoters created encumbrance on 63.93% shares for a loan facility; no share acquisition.