Markets

SEBI Imposes Penalty on Shubhlaxmi Jewel Art Limited Promoter Group for Alleged Violation of Takeover Regulations The Securities and Exchange Board of India (SEBI) has finalized an adjudication order, finding that the promoter group of Shubhlaxmi Jewel Art Limited violated the provisions of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (SAST Regulations). Consequently, the Adjudicating Officer (AO) has imposed a monetary penalty on the promoter and associated persons.The inquiry centered on the compliance of the promoter group with the SAST Regulations following the allotment of 18,00,000 equity shares to Noticee 1, Narendrasinh J Chauhan, and the subsequent increase in the promoter/promoter group's...

Universal Cables Reports Highest Turnover in FY 2025-26; Recommends 45% Dividend Universal Cables Limited reported a significant boost in its financial performance for the year ended March 31, 2026, achieving a standalone turnover of Rs 3,022.67 crores. The company's Board of Directors, in its meeting on May 23, 2026, approved the financial results and recommended a dividend of 45% on its equity shares.The company, which operates under the MP Birla Group, is a leading manufacturer of power cables, capacitors, and related power solutions. The substantial revenue growth was attributed to higher volumes and an improved product mix, particularly within the Extra-High Voltage (EHV) cable business and the capacitors segment.Financial...

Studds Accessories Reports Robust Financial Performance for Q4 and FY26 Studds Accessories Limited, recognized as India's largest two-wheeler helmet manufacturer and a leading global brand for motorcycle accessories, has announced its financial results for the quarter and full year ending March 31, 2026. The company reported strong consolidated performance across key metrics, driven by export markets and enhanced operational efficiencies.Q4 & FY26 Financial Highlights The company's financial results for the quarters ending March 31, 2026, showed significant year-over-year growth across revenue and profitability.Particulars (Rs. Cr)Q4FY26Q4FY25YoYQ3FY26QoQFY26FY25YoYNet Revenue from...

Nureca Limited Reports on Customs Proceedings, Makes Pre-Deposit of INR 57,12,811 Nureca Limited has provided an update regarding proceedings initiated by the Directorate of Revenue Intelligence (DRI) concerning product classification. The matter falls under Section 108 of the Customs Act, 1962.The company reported that a hearing notice was received from the DRI related to the product classification issue. Nureca Limited attended the hearing on May 13, 2026, where the company represented its case before the concerned authority.In connection with the ongoing proceedings, and without prejudice to its rights in the matter, Nureca Limited has made a pre-deposit amount of INR 57,12,811/- (Rupees Fifty Seven Lakh Twelve Thousand Eight...

The Federal Bank Allots Equity Shares to Option Grantees Under Employee Stock Schemes The Federal Bank Limited announced the allotment of equity shares to its option grantees following the exercise of stock options under two separate Employee Stock Option Schemes (ESOS). The allotments were executed on May 24, 2026.The company reported that the share allotments were made subsequent to the payment of money by the respective allottees. The scheme details covered included the ESOS 2010 Scheme and the ESOS 2017 Scheme.The details of the allocated equity shares are summarized below:SchemeAllotment DateNumber of Shares AllottedFace Value Per ShareESOS 2010 SchemeMay 24, 20262,000Rs. 2ESOS 2017 SchemeMay 24, 2026261,845Rs. 2...

Vindhya Telelinks Announces FY26 Financial Results, Dividend Recommendation, and Major Expansion Plans Vindhya Telelinks Limited today announced its financial results for the quarter and full year ended March 31, 2026, detailing continued growth in its core Cable segment and outlining significant plans for capacity expansion and infrastructure development.The Board of Directors of the Company held a meeting on May 23, 2026, where it approved the audited standalone and consolidated financial results for the quarter and financial year ended March 31, 2026.Financial Highlights for FY 2025-26 The company reported strong overall financial performance. According to the annual financial results:MetricFull Year Ended March 31, 2026...

Anupam Rasayan India Launches Open Offer for Bliss GVS Pharma Limited Shareholders Anupam Rasayan India Limited has initiated a mandatory Open Offer for the public shareholders of Bliss GVS Pharma Limited. The offer, announced on May 23, 2026, is triggered by the proposed acquisition of a substantial stake in the Target Company by the Acquirer.The Open Offer is designed to acquire up to 2,77,26,848 fully paid-up equity shares of Bliss GVS Pharma Limited, representing 26.00% of the Expanded Voting Share Capital. The Open Offer is being made at a fixed price of ₹ 299.00 per Offer Share. Assuming full acceptance, the total consideration payable by the Acquirer would amount to up to ₹ 8,29,03,27,552.00.The acquisition mandate stems from...

ABM International Limited Announces Board Approval of Financial Results for FY 2025-2026 ABM International Limited reported that its Board of Directors, in a meeting held on May 23, 2026, approved the audited financial results for the quarter and financial year ended March 31, 2026. The approval covers both standalone and consolidated results, along with the corresponding auditor’s report.The company released comprehensive financial data, including statements of profit/loss, balance sheets, and cash flow statements, detailing the financial performance of the company for the fiscal year 2025-2026.Financial Performance Highlights (P&L Statement) The audited and consolidated financial statements provide a detailed comparison of the...

Salzer Electronics Reports Strong FY26 Growth; Consolidated Revenue Crosses ₹1,758 Crore Salzer Electronics Limited, a capital goods engineering company offering total and customized electrical solutions, announced its audited financial results for the fourth quarter and year ended March 31, 2026. The results highlight robust growth across core divisions and strategic expansion in the global and technology sectors.The company reported that its consolidated revenues for the fiscal year 2026 reached ₹1,758.38 crore, showing a Year-on-Year (YoY) growth of 23.98%.Financial Performance Overview The audited financial results for the quarter and year ended March 31, 2026, are summarized below:Particulars (Rs. Cr)Q4 FY26Q4...

Eveready Industries Challenges Order in Delhi High Court After Interim Stay Granted Eveready Industries India Limited announced a significant update concerning legal proceedings related to the alleged unauthorized occupation of a portion at UCO Bank Building, Parliament Street, New Delhi - 110 001.The company confirmed that it has initiated legal action by filing a writ petition before the Hon'ble High Court of Delhi, seeking necessary interim relief in the ongoing matter.This legal effort saw a material development on May 22, 2026, when the Hon'ble High Court of Delhi issued an interim order. This order successfully stayed the impugned order that had been issued by the District Court, Patiala House Courts, New Delhi.EVEREADY...

Customs Clears Rashi Peripherals Limited of Demand; Proceedings Dropped Rashi Peripherals Limited has received confirmation that the Principal Commissioner of Customs (Import) has dropped proceedings against the company, thereby dropping a significant demand related to customs duties.The order, received by Rashi Peripherals Limited on May 23, 2026, pertains to a Show Cause Notice (SCN No. 808/2025-26 dated February 6, 2025). The clearance confirms that the entire demand raised by the Customs Department is not valid, and all related proceedings have been officially dropped.The initial allegation, detailed in the Show Cause Notice, concerned the company making a wrong classification of imported goods, which allegedly made the company...

Railtel Corporation Secures Letter of Intent for IT Infrastructure Upgrade from Newspace India Limited Railtel Corporation of India Limited has secured a Letter of Intent (LoI) from Newspace India Limited (NSIL) for the upgradation of IT infrastructure. The agreement covers comprehensive services including supply, installation, commissioning, operation, and maintenance for NSIL's IT infrastructure.The order is classified as a domestic contract. The Letter of Intent was received on May 22, 2026.The total estimated size of the order, as per the LoI, is Rs. 31,21,42,210/-, excluding tax. The contract has an execution period spanning until January 31, 2027.Key details regarding the order are summarized below:Parameter Details...

Aesthetik Engineers Approves Audited Results, Appoints New Auditors, Reviews IPO Funds Aesthetik Engineers Limited held a Board of Directors meeting on May 23, 2026, where the board approved the audited financial results for the half year and full financial year ending March 31, 2026. The board also ratified the appointments of new internal and secretarial auditors and took note of the utilization of Initial Public Offering (IPO) proceeds.The company also placed on record a certificate from the Statutory Auditors regarding the utilization of IPO proceeds, showing that the total disclosed amount was 26.47 crore, with 25.47 crore actually utilized.Governance and Appointments At the meeting, the Board of Directors approved several key...

Indian Emulsifiers Limited Approves Audited Financial Results for Fiscal Year 2026 Indian Emulsifiers Limited (IEML) announced that its Board of Directors approved the Standalone and Consolidated Audited Financial Statements for the financial year ended March 31, 2026.The Board meeting confirmed the approval of the audited financial results, including the associated auditor's reports for both the standalone and consolidated figures for the fiscal year 2026.Financial Highlights The company released detailed audited financial results covering the half-year ended March 31, 2026, alongside the full-year results for the period ended March 31, 2025.Consolidated Audited Statement of Assets and Liabilities The company's balance sheet data...

Salasar Techno Engineering Limited Announces NCLT Sanction of Amalgamation Scheme Salasar Techno Engineering Limited has received sanction for the Scheme of Amalgamation of EMC Limited with the company from the National Company Law Tribunal (NCLT).The Hon'ble National Company Law Tribunal, Kolkata Bench-II, Kolkata, issued its Order on May 22, 2026, sanctioning the Scheme of Amalgamation. Under the scheme, EMC Limited will become the Transferor Company, and Salasar Techno Engineering Limited will be the Transferee Company.The appointed date stipulated in the scheme is October 23, 2024.Salasar Techno Engineering Limited noted that the aforesaid Scheme of Amalgamation had previously been approved by the National Company Law...

Zaggle Prepaid Ocean Services Announces CTO Resignation Zaggle Prepaid Ocean Services Limited confirmed the resignation of its Chief Technology Officer, Mr. Srikanth Gaddam. The move impacts the company’s senior management structure.Mr. Srikanth Gaddam tendered his resignation from the position of Chief Technology Officer (CTO) of Zaggle Prepaid Ocean Services Limited due to personal reasons. His last working day with the company is scheduled for May 27, 2026, at the closure of business hours.The resignation was formalized by Mr. Gaddam, whose notice was received on May 22, 2026.The key details regarding the change in senior management personnel are summarized below:Particulars DetailsName Mr. Srikanth GaddamPosition...

NTPC Limited Releases Operational and Financial Snapshot for Q4 & FY2026 NTPC Limited announced the availability of its Operational and Financial Snapshot for the quarter and year ended March 31, 2026. The detailed information can be accessed through the company's investor portal.Analysts and investors can view the comprehensive snapshot of NTPC Limited's performance on the dedicated conference call and analyst meet investors page on the company website.NTPC Stock Price Movement NTPC Limited shares edged higher on Friday, finishing at ₹388.65, marking a 0.05% gain as trading concluded. The stock settled with noticeable momentum, executing on a high volume of 11.76 million shares.

Forcas Studio Limited Announces Audited Results and New Independent Director Appointment Forcas Studio Limited, on May 23, 2026, announced the approval of its Audited Financial Results for the half and financial year ended March 31, 2026. The company also confirmed the appointment of Mrs. Neha Agarwal as an Additional Director, designated as an Independent Director, effective from the same date, subject to shareholder approval.The statutory auditors, M/s. Agarwal Khetan & Co, Chartered Accountants, issued an audit report on the Audited Financial Statement for the half and financial year ended March 31, 2026, providing an unmodified opinion.Governance and Capital Structure Updates The Board of Directors also noted that there is no...

Richa Info Systems Secures Purchase Orders from Dental College and Hospital-Gujarat Worth Rs. 1,22,66,600.00 Richa Info Systems Limited announced the receipt of multiple purchase orders from the Dental College and Hospital-Gujarat on May 21, 2026. The total value of the consolidated orders amounts to Rs. 1,22,66,600.00.The orders cover a wide range of specialized technological equipment, indicating the company’s continued involvement in major institutional procurement projects.The total value of the purchase orders received from the Dental College and Hospital-Gujarat is detailed below, listing the key products and their corresponding order values.Product Name Quantity Order Value (in Rs.)Interactive Panels with CPU (86 NR-T)...

S&S Power Switchgear Reviews Employee Stock Options Scheme 2024 S&S Power Switchgear Limited has reported a review of the stock options granted to eligible employees under the 'S & S Power Switchgear - Employee Stock Option Scheme 2024.'The company provided detailed updates regarding the option grants across two distinct tranches.According to the records, the details of the options are as follows:Detail Tranche 1 Tranche 2Options Granted 6,62,801 (Six Lakh SixtyTwo Thousand Eight Hundred and One) 2,26,000 (Two Lakh Twenty Six Thousand)Total Shares Covered 6,62,801 equity shares (Face Value Rs. 10/- each) 2,26,000 equity shares (Face Value Rs. 10/- each)Exercise Price per Option INR 180 INR 180Vesting Status Not...