Recent Update

Upgraded to IND A+/Positive from IND A-

Board meeting on 10th July 2026: Accepted resignation of CFO Mr. Jatin Kumar effective 10th July 2026 due to personal commitments, and appointed Ms. Ruchika Ohri as new CFO.

Board approved preferential issue of up to 70,00,000 warrants to promoter group entity Essix Biosciences Limited at Rs 196 per warrant aggregating Rs 137.20 crore, subject to member and regulatory approvals. Also approved alteration of AoA and EGM on August 5, 2026.

Board approved acquisition of up to 51% in Teneron Ltd (aluminum alloy ingots, FY25 revenue Rs 7080 Cr) for cash; material RPTs up to Rs 250 Cr. Also approved name change to Novalum Materials Ltd, 1:5 stock split, increase in authorized capital to Rs 40 Cr, and borrowing limit to Rs 100 Cr.

Board approved issuance of corporate guarantees up to ₹3,400 Cr for wholly-owned subsidiaries to secure credit facilities for solar projects and business operations. Also approved infusion of promoter contribution up to ₹1,160 Cr into subsidiaries via equity, loans or debentures.

Tahmar Enterprises received a SARFAESI demand notice for Rs. 24.40 crore from KDCC Bank. The company is contesting the notice, citing non-compliance with the MSME revival framework, and states no enforcement measures under Section 13(4) have been initiated.

Powerica Limited won a 50MW wind project bid from GUVNL's 250MW tender at a tariff of ₹3.51 per unit. The project will support GUVNL's Renewable Purchase Obligations and be executed using in-house engineering, adding to its 330.85MW operational portfolio.

Chief Financial Officer Mrs. Kanije Fatema Dadani Patel resigned effective 14 July 2026, citing personal reasons and new professional opportunities. The managing director accepted the resignation and noted a smooth transition may require her support beyond the departure date.

NCLT orally approved the Pre-Packaged Insolvency Resolution Plan for SAB Events. Written order awaited.

Q1FY27 pre-sales dropped 42% YoY to INR 6.17 bn due to no new launches, though collections rose 4% YoY. Added two projects with INR 7.13 bn GDV. ICRA credit rating upgraded to AA- with stable outlook. Management expects a pickup from upcoming launches.

Board approved increase in Authorised Share Capital from ₹5.50 Cr to ₹10 Cr. Approved fund raise via preferential issue of up to 60,00,000 warrants convertible into equity shares at ₹11 per warrant aggregating ₹6.60 Cr to 10 non-promoter investors, subject to shareholder approval at the ensuing AGM.

GP Petroleums' joint venture Amron Oil Resources selected by Indian Oil Corporation as operating partner for Pipavav bitumen cell. Dispatch flagged off June 4, 2026, strengthening GPPL's position in specialty bitumen and infrastructure.

DJ Mediaprint disclosed that 47.87 lakh warrants from its January 2025 allotment lapsed and the paid amount was forfeited after holders failed to convert within 18 months.

63SATS Cybertech's Q1 FY27 order book surged to ₹288 crore, achieving 82% of its ₹350 crore full-year target and exceeding FY26 full-year revenue. ₹100 crore already executed and billed. Focus shifts to delivery execution.

Meta Infotech secured orders aggregating Rs. 7.58 crore from FMCG, financial services, and private bank clients for license/software subscriptions. Includes renewals and one fresh order; all in ordinary course.

The board meets July 15, 2026 to consider selling its equity stake in material subsidiary Fibcorp Polyweave Private Limited. This corporate action could materially impact the company's structure and value.

Board approved reallocation of unutilized IPO proceeds of Rs 9.07 Cr from purchase of office premises and hardware to working capital requirements, subject to shareholder approval via postal ballot. Also ratified deviation of Rs 1.34 Cr for interior works and appointed agencies for the postal ballot process.

The Securities Appellate Tribunal set aside SEBI's directions that had stalled the open offer to Trucap Finance shareholders by Marwadi Chandarana, remanding the matter back to SEBI for a speaking order.

Board approved fundraise of up to Rs 400 Crores via equity/convertible instruments including QIP and rights issue, subject to shareholder approval through postal ballot.

Advait Energy Transitions received a Rs 75.56 Cr turnkey contract from PGVCL for underground cable network conversion in Porbandar, execution 18 months.

Board approved issuance of NCDs aggregating up to INR 10,000 Cr on private placement basis, subject to shareholder approval. Record date for dividend for FY 2025-26 fixed as July 31, 2026.

BB/Stable & A4+ downgrade, non-coop.

Rasi Electrodes' board meets on July 16, 2026, to decide on selling its landed property after shareholder approval. The asset sale may materially impact the company's financials.

MPCB revoked closure directions for IVP's Tarapur unit, allowing immediate resumption of operations. This ends the shutdown disclosed on June 29, 2026, removing a key operational disruption.

Ion Exchange secured a USD 52.83 million (~INR 503 crore) international contract from Hyundai Engineering for filtration units in the Middle East, to be executed over 18 months.

Subsidiary inaugurated a new plant in Andhra Pradesh, adding capacity of 50,000 frame sets and 28,000 seat cover sets, primarily to supply KIA Motors India via Hyundai Transys, with an investment of INR 27.29 crores.

Received a purchase order worth ₹1.70 crore for supply of engineering components from a domestic customer.

Garware Hi-Tech Films announced the sudden demise of Joint Managing Director Sarita Garware Ramsay on July 9, 2026. She had served since 2002; her passing is deemed an irreparable loss.

HFCL secured a ~$52M export order for optical fibre data centre connectivity solutions, to be executed by December 2026.

NHAI has retained the WPI linking factor at 1.641 for toll revisions, overturning a planned cut to 1.561. The decision maintains higher user fee escalation rates for existing concession contracts, positively impacting trust revenue.

Relicab Cable Manufacturing received a Rs 1.43 crore purchase order for control cables from a leading global energy technology company, with delivery by August 30, 2026.

NHAI retained the original 1.641 WPI linking factor for toll rate revisions, superseding a proposed lower factor of 1.561. This removes a potential toll revenue reduction for Interise Trust.

Dixon executed definitive JV agreements with vivo India for a 51:49 smartphone manufacturing subsidiary, and received Government of India approval (Press Note 3), strengthening its Android ecosystem foothold.

Board approved fundraise via Rights Issue of up to Rs 50 Crore and increase in Authorised Share Capital from Rs 20 Crore to Rs 65 Crore. Resignation of two independent directors was noted.

Polyclinic in Dubai providing plastic surgery, laser cosmetic, dental, chiropractic services.

Sold its registered office property in Greater Noida for ₹2.53 crore to a promoter group entity, with a leaseback until a new facility is ready. The property contributed 9% of FY26 revenue; operations will continue without disruption.

Board noted Share Purchase Agreement wherein Apollo Micro Systems Limited will acquire 41.33% stake from promoters at INR 698 per share, triggering a mandatory open offer for up to 26% from public shareholders at the same price. Completion is subject to regulatory approvals, including CCI.

Board approved acquisition of 41.33% stake in Premier Explosives Limited for Rs 1,550 Cr, triggering a mandatory open offer for additional 26%. Premier Explosives manufactures solid propellants for missile programs and countermeasure systems. Transaction subject to CCI and SEBI SAST approvals.

Board approved appointment of Mr. Kanakanjan Nag as Additional Director. Received DGGI show cause notice with penalty of ~Rs 16.3 Cr under CGST Act; company to challenge. Postponed approval of financial results for periods ended Mar'25, Sep'25, and Mar'26 due to auditor preoccupation; next board meet on 13th July.

Board approved acquisition of Primary and Secondary Healthcare Business (Bristlecone Hospitals) from subsidiary Virinchi Health Care on a slump-sale basis for Rs 100 Cr, effective April 1, 2026, subject to shareholder approval. Consideration to be adjusted against existing loans and advances. Postal ballot notice approved.

S&P assigns first BBB-/A-3 to Federal Bank, Stable

Board approved enhancement of borrowing limits to Rs 200 Cr, issuance of secured NCDs up to Rs 100 Cr on private placement, creation of charge on assets, adoption of new MoA and AoA, and regularisation of three directors including one independent. All subject to shareholder approval.

Ceinsys Tech received a Letter of Intent for a manpower agency contract under PM Awas Yojana (Urban) in Madhya Pradesh, valued at Rs. 67.04 crore over 3 years.

Board approved issuance of up to 1.5 Cr convertible warrants aggregating Rs 48.8 Cr to promoter group entity NK Family Private Trust on a preferential basis. Also approved availing credit facility of Rs 70 Cr from Punjab National Bank for working capital. Appointed former SBI Chairman Rajnish Kumar and Nikunj Kampani as advisors to the Board.

Board meeting on July 14, 2026 to evaluate fundraising via equity shares or convertible warrants, which may dilute existing shareholders.

Kedia Securities Pvt Ltd (non-promoter) acquired 358,500 shares (3.56%) of Exato Technologies Ltd via open market, increasing total holding with PACs to 9.68%.

VS Trust (promoter) encumbered 4,20,400 TVS Holdings shares via pledge to Aditya Birla Capital. No acquisition.

Board meeting on 16th July 2026 to approve Q1 FY27 unaudited standalone and consolidated financial results and consider fundraising via QIP, rights issue, or private placement, subject to shareholder approval.

CONCOR signed a 15-year agreement with GAIL to establish an LNG dispensing station at its Ahmedabad ICD, committing to deploy 15 LNG trucks in the first year.

Rajasthan Global Securities (non-promoter) acquired: pre 14,49,554 post 16,65,275 open market.