Recent Update

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

Managing Director Madhu Sudan Pahwa and promoter group member Prerna Pahwa sold 200,000 and 50,000 shares in market sales Nov 2-3 for Rs1.57 crore and Rs0.41 crore, reducing stakes to 4.15% and 2.37% from 6.59% and 2.98%.

Received Rs1.30Cr ex-GST domestic order PO2604673-1 dated 5 Nov 2026 from unnamed OEM contractor for FLP panels and wiring at Nelamangala, executable in ~6 months, ordinary course, no promoter interest.

PGCIL 220kV Unit-III approval, FY27 30-35% volume/revenue growth margins maintained, CRGO 11,697MT +28.1%, radiators 2.67Cr nano 6.77Cr copper 0.53Cr Sep'26 Context: guidance lowered

Board on 5 Nov 2026 decided not to proceed with authorised disposal of up to 3% of SRF shares approved 6 Apr 2026; confirms no shares sold under resolution. Context: retains core holding in line with stated consolidation stance.

Gujarat Terce Laboratories has agreed to purchase 2012.20 sq ft corporate office premises 'Swati18' at S.G. Highway, Thaltej, Ahmedabad from Swatisandhya Procon LLP for Rs 3.23 crore plus taxes and charges; transaction is not a related-party deal.

Promoter Rahul Maganlal Timbadia bought 52,000 Saj Hotels shares on NSE on 5 Nov 2026 for Rs13.65 lakh, lifting his holding to 95.22 lakh shares (59.05% from 58.72%), disclosed under SEBI insider-trading rules.

Board approved raising fresh capital of up to Rs 14.7 Cr for repayment of dues, issue expenses, working capital and general corporate purpose; authorised Fund-Raising Committee to take further steps. Management framed raise as propelling new growth; instrument, pricing, timeline and dilution not disclosed. Board also noted progress in biofuels and

GHV Infra received Rs 92 cr ex-GST domestic work order from GHV (India) Pvt Ltd for Kurla carshed expansion, to complete in 24 months. Related-party deal at arm's length.

Board approved overhaul: appointed 4 directors including Sahil Mehta as Whole-time Director and Venkateshwaran Iyer as CFO; MD Vijay Mandora, 3 directors and CFO Harish Parmar resigned. Reshuffle follows July 29 Share Purchase Agreement takeover and management restructuring; new appointments subject to shareholder approval; exits effective Nov 5,

Commenced commercial production on 5 Nov 2026 at Unit-2 Ankhol, Gujarat, Phase I 1.2 GW solar PV module facility, marking major capacity expansion to strengthen scale and meet domestic demand.

Apollo Micro Systems, non-promoter, acquired 1,39,77,911 shares via open offer; holding Nil to 26%.

Lokesh Machines received Rs 19.89 crore (net of taxes) domestic supply order from Cummins India for special finish milling and finish boring machine, with no promoter interest.

Apana Logistics received a Rs 9.36 crore domestic order for internal container transportation at CFS with 10 multi-axle vehicles over 4 years starting December 4, 2026.

Won Rs62.05cr incl taxes DGVCL turnkey order on Nov 3 for 11/22kV overhead-to-underground conversion at Vyara under SI scheme, 24-month execution ex-monsoon after 45-day commencement.

Adani Ports to acquire 100% of Evos B.V., Europe's second-largest liquid storage operator with eight terminals, for EUR 1,184m equity (EUR 2.56bn EV) cash. CY25 revenue EUR 392m. Debt-funded, completion in 15 months pending approvals, pro forma net debt/EBITDA 2.76x. Context: first large European deal breaching 2.5x cap.

Board to meet 9 Nov to consider acquiring AutoPe Payment Solutions stake via share swap issuing 929,500 shares and convene EGM for preferential allotment approval. Context: revives swap structure after September cash-only definitive.

Q2 FY27 Standalone Results YoY: Revenue from operations nil vs nil. EBITDA loss widened to Rs 36.97 vs loss of Rs 3.00. Board authorised sale of Raigad land for not less than Rs 12.8 Cr. Mr Rajesh Vardhan authorised to execute sale. PAT loss widened to Rs 37.88 vs loss of Rs 3.92.

Sakthi Finance board meets on 12 November 2026 to approve Q2/H1FY27 results ended 30 September 2026, consider Rs 300 crore secured NCD public issue in tranches, and approve redemption of Feb 2024 NCDs Options III and IV due 26 February 2027.

Innoxel Lifesciences received USFDA Establishment Inspection Report dated November 4 for unannounced April 13-20 pre-approval inspection of general injectable at Vadodara facility; inspection closed with facility deemed ready for commercial operations, second EIR after July 2025.

STL Networks emerged as L1 bidder for Power Grid's Rs555 Cr domestic OT-SOC substation package; award pending, no promoter interest.

Signed 160-day time charter with G R Infraprojects for OSV MV Serenity for ONGC west-coast pipelay/subsea work, delivery 20 Nov-10 Dec 2026, valued at ~₹21.94cr incl GST.

RateGain UK prepaid USD 46.25M of its USD 125M HSBC-Citi facility, cutting outstanding debt to USD 31.25M with drawn facility up to USD 40M; corporate guarantee reduces proportionally. Context: advances FY27 net debt-free aim.

Allotted 48 lakh equity shares at Rs90 on conversion of 48 lakh warrants, receiving Rs32.40 crore; paid-up capital rose to 3.06 crore shares, with 36 lakh to promoter Aeroflex Enterprises and 6 lakh each to Benani Capital and VPK Global. Context: first conversion funding AI-infra expansion.

Secured three domestic orders totalling ₹4.85Cr ex-GST, led by ₹4.55Cr Inergy Infra order for 15x 3600kVA transformers (10 by Dec 2026, 5 by Mar 2027), plus two small transformer/CSS orders.

Prima Industries board meets on Thursday, 12 November 2026 to approve unaudited Q2 and half-year results ended 30 September 2026, note demise of Chairman and MD S.K. Gupta, consider appointing Kushagra Gupta as MD and Ladhu Singh as CFO, and note director resignation and Group Chairperson assignment.

Prima Agro's board meets on 12 November 2026 to approve unaudited Q2 and H1 results ended 30 September 2026, note demise of CMD S.K. Gupta, resignations of CFO Swati Gupta and independent director Mayuri Sinha, and appoint Swati Gupta as CMD and Krishnakumar M K as CFO.

Investor presentation reiterated Q2/H1FY27 weak results on delayed govt billing and disclosed Rs510 Cr order book (Rs210 Cr carryover + Rs300 Cr Kashipur addition), new Rs38 Cr Prayagraj hotel contract, revival of SUDA, JBVNL, NCRPB projects and private-sector pivot for cash-flow certainty. Context: Prayagraj client is recurring group-linked counte

SC Agrotech board meets 13 Nov 2026 to consider 10-for-1 stock split, 4:5 bonus issue and up to 100% dividend, plus authorised capital increase. No record date or entitlement approved yet; dividend feasibility depends on profits and liquidity.

Acquired trailing suction hopper dredger River Pearl 48 for ~Rs250cr, capacity 8-10m cbm per year, for immediate deployment at New Mangalore Port to execute 15.9m cbm three-year maintenance contract starting 15 Nov 2026. Context: adds owned TSHD capacity for largest-ever dredge order.

Order book over INR 31,780 Mn incl Weatherford >US$100mn multi-year, AS9100 Metoda Chhapra, NADCAP progress, NABL lab, Data-centre FA commercial, Aerospace FA approvals pipeline

Commenced commercial production on 5 Nov 2026 at new fully automated Vidisha plant housing wheat cleaning/flour milling, spice and edible oil lines with atta milling 2,000-2,500 kg/hr and oil output 3,500-4,000 kg/day, supporting 255+ SKUs and wider markets. Context: resolves pending factory commissioning after readiness delay.

Mr. Kalpesh Chauhan has resigned as Chief Financial Officer and Key Managerial Personnel for personal/professional reasons, effective close of business November 12, 2026. Resignation letter dated August 18, 2026 notes notice period through that date. No successor announced.

Dinesh R Agarwal, promoter, sold 50L: 13622488 to 8622488 via Block Deal.

Board approved voluntary liquidation of wholly owned material subsidiary AGJT, subject to shareholder nod. Completion in one year. FY26 share: 0.89% turnover, 22.76% net worth. Dubai gold/jewellery arm was loss-making despite narrowed loss. Follows recent auditor exit and replacement. First subsidiary wind-up; simplifies structure but recovery on

Board approved Rs350cr corporate guarantee for wholly-owned Max Estates 128's term loan as contingent liability, incorporation of Rs1-lakh wholly-owned real-estate subsidiary for cash, and noted CARE Q2 monitoring reports showing no deviation with Rs3.94cr QIP and Rs5.22cr preferential proceeds unutilized.

Debt Relief Lifts Profit PAT at Rs 63.9 Cr in Q2 FY27, +137.8% YoY. Revenue at Rs 227 Cr in Q2 FY27, -9.2% YoY. EBITDA at Rs 173 Cr, -14.7% YoY; Other Income fell to Rs 14.6 Cr vs Rs 55.5 Cr, dragging EBITDA. EBITDA margin at 76.2% vs 81.1%. Statutory auditors Manubhai & Shah LLP resigned w.e.f. 4 Nov 2026 citing reduced operations; review remains

Board approved up to Rs35.5cr cash investment for up to 28,62,903 shares at Rs124 each in Stable Textile via private placement. Target does FIBC/packaging, FY26 turnover Rs20.8cr, PAT Rs0.52cr, 100% owned by promoter relatives, termed arm's-length related-party deal. Context: extends history of material related-party dealings.

Supa 96% complete 57,845MT 76% utilization, Phase-3 72,200MT Q1FY29 Rs1,850Mn, HVDC Europe test orders, exports +108%, EBITDA/t Rs101,454, positive OCF

Board approved 100% acquisition of Pacific Global FZCO for Rs 354.52 Cr via share swap issuing up to 1,20,58,397 shares at Rs 294 to 3 allottees. Target runs 60,000 MT cashew processing in Cote d'Ivoire; Jan-Aug turnover Rs 104.18 Cr. Closure in 2-3 months subject to shareholder nod. Swap includes 61.5 lakh shares to promoter Pulkit Jain; authori

Rights panel set Nov 11, 2026 record date for 10,287,832 partly-paid shares at Rs 860 (Rs 884.8cr) in 5:12 ratio, Rs 645 on application and Rs 215 on call, issue Nov 19-Dec 3. Context: clears terms for planned Minipress-debt refinancing.

Company received Sept 28 Income Tax order, received Sept 29 via email, levying Rs16.13 crore penalty under Section 271G. It has filed appeal, says order unsustainable with no financial impact expected. Disclosure delayed over a month for legal review. Context: adds to existing tax dispute overhang.

Board approved creation of security over assets including pledge of 9.4% stake in Shivom Minerals to secure its Rs113 Cr NCD issue and convening EGM on Nov 30 via VC. Shivom Minerals is a promoter-group entity; NCDs are 11,300 unlisted unrated secured redeemable of Rs1 lakh each. EGM seeks shareholder approval with e-voting Nov 27-29. Puts listed

Wholly owned subsidiary Bacil Research and Development entered agreement with Efdee Pharma for research and development of pharmaceutical products including pellets, granules, powders, tablets and capsules at estimated cost of Rs 35 crore.

Goenka Business & Finance said SAT granted stay against SEBI's 30 June 2026 final order under SEBI Act, leading to unfreezing of the company's demat accounts.

IGL Spirits, demerged spirits and biofuels business of India Glycols, listed on BSE and NSE on November 4, 2026. FY26 revenue was Rs 2,801 crore, EBITDA Rs 492 crore at 17.6% margin, PAT Rs 244 crore, up from Rs 1,459 crore revenue and Rs 88 crore PAT in FY24.

Global CEO Mohit Malhotra resigned effective Nov 13 to take an overseas role after three decades. India CEO Herjit Singh Bhalla was appointed Whole-time Director for five years from Nov 14 to lead India, while P.D. Narang will oversee International business.

Board noted proposed 0.925-acre land purchase at Panipat for Rs 2.5 Cr for expansion was not completed. Approved Rs 4 Cr unsecured loan to Suburban Finance at 10% for 1 year. Land deal approved in March 2026 for future expansion now lapsed. Loan is to unrelated non-promoter entity for working capital, stated as non-related-party transaction. Drop

Promoter Rahul Maganlal Timbadia bought 38,000 shares via open market on NSE on Nov 4, 2026 for about Rs 10.07 lakh, raising holding to 94.7 lakh shares or 58.72% from 58.49%.