Markets

PNGS Reva Diamond Jewellery Updates IPO Fund Utilization After Resolving MHA Complaint Hold PNGS Reva Diamond Jewellery Limited, formerly known as Gadgil Metals & Commodities, provided updates regarding the utilization of its IPO proceeds, confirming the resolution of a previous hold on a portion of the funds. The company noted that the pending IPO funds are being utilized in a phased manner and remain secure, with the utilization not adversely affecting the progress or overall performance of the project.The company initially faced a delay in the transfer of Rs. 12,352/- from HDFC Bank. This hold was reported to be linked to a complaint or intimation received by HDFC Bank from the Ministry of Home Affairs (MHA) related to an allottee...

BLS E-Services Crosses Rs 1,000 Crore Revenue Milestone, Posts 109.7% Total Income Growth in FY26 BLS E-Services Limited (BLSe), a digital service provider, today announced its consolidated audited financial results for the fourth quarter and full year ended March 31, 2026.Speaking about the performance, Mr. Shikhar Aggarwal, Chairman of BLS E-Services Limited, stated that the company reported remarkable performance during Q4 and FY26. Total Income grew by 109.7% year-over-year (YoY) in FY26, supported by strong growth across its core businesses and increasing scale in assisted digital and citizen service offerings.Mr. Aggarwal noted that the company crossed the Rs 1,000 Crore annual revenue milestone. He added that EBITDA reached...

Indraprastha Gas Limited Announces FY 2026 Results and Recommends Final Dividend Indraprastha Gas Limited (IGL), a joint venture of GAIL (India) Ltd., BPCL, and the Government of NCT of Delhi, has announced its audited financial results and recommended a final dividend for the financial year 2025-26.The Board of Directors approved the Audited Financial Results (Standalone and Consolidated) for the quarter and year ended March 31, 2026. Furthermore, the Board recommended a final dividend of 75% or Rs. 1.50 per share (face value of Rs. 2/- each) for the financial year 2025-26, pending approval by the shareholders at the ensuing Annual General Meeting.Financial Performance Summary The company's financial performance, both standalone...

Ajax Engineering Limited Approves FY Results; Appoints Additional Director and Records Director Resignation Ajax Engineering Limited announced key corporate updates following a Board meeting held on May 18, 2026. The Board considered and approved the audited financial statements and results for the quarter and the full year ended March 31, 2026, accompanied by an unmodified opinion from the statutory auditors.The company also announced significant changes to its board composition, including the appointment of a new Additional Director and the resignation of a Whole-time Director.Board Appointments and Resignations During the meeting, the Board of Directors took action on two key governance matters.The company appointed Mr. Sachin...

Max Healthcare Institute Completes Acquisition of Controlling Stake in Kalinga Hospital Ltd. Max Healthcare Institute Limited confirmed the successful acquisition of a controlling stake in Kalinga Hospital Ltd. (KHL) on May 18, 2026, making the hospital a subsidiary of the company.The announcement follows the initial board approval for the acquisition, which targeted securing a controlling stake and utilizing external financing. Kalinga Hospital, a 250 bed Multi-Specialty Hospital located in Bhubaneswar, Odisha, will now operate under the umbrella of Max Healthcare Institute Limited.During the transaction, the company successfully availed a Senior Secured Term Loan amounting to up to ₹ 300 Crore in the form of External Commercial...

Avi Ansh Textile Limited Certifies Utilization of Net Proceeds from Issue of Shares Avi Ansh Textile Limited has received a certificate from Kuldeep Sharma & Associates Chartered Accountants confirming the utilization of net proceeds generated from the issue of shares and warrants as of March 31, 2026. The certificate details how the funds raised were deployed across various corporate purposes.The utilization report provides a clear breakdown, comparing the amount originally disclosed in the offer documents against the actual amounts utilized by the company.According to the certificate issued by the statutory auditor, the total proceeds from the issue of shares and warrants amounted to 2599.04 INR in lakhs. The utilization details...

Patiala House Courts Pass Order Regarding Unauthorized Occupation; Eveready Industries Files Legal Challenge Eveready Industries India Limited announced details concerning a recent court order issued by the Patiala House Courts in New Delhi. The order, dated May 15, 2026, relates to proceedings concerning the alleged unauthorized occupation of a portion measuring 5,471 sq. feet located at the UCO Bank Building, Parliament Street, New Delhi - 110001.Following the court's directive, the damages payable to UCO Bank are estimated at approximately Rs. 7.11 crores, excluding interest.In response to the ruling, the company stated that it is taking appropriate legal steps to challenge the order. Eveready Industries plans to file a writ...

Shivalik Bimetal Controls Board Approves Reclassification Request from Solan Developers Private Limited Shivalik Bimetal Controls Limited announced that its Board of Directors, during a meeting held on May 18, 2026, reviewed and approved a reclassification request received from M/s Solan Developers Private Limited.The company approved the request seeking to change the classification of M/s Solan Developers Private Limited from the 'Promoter and Promoter Group' category to the 'Public' category.This request, which was originally received on May 11, 2026, is subject to obtaining the No Objection Certificate (NOC) and approval from the stock exchanges, namely BSE Limited and the National Stock Exchange of India Limited, along with any...

Sammaan Capital Makes Timely Interest Payments on Secured Debentures Sammaan Capital Limited, an IHC Group Company, reported that it has made timely interest payments on its Secured Redeemable Non-convertible Debentures (NCDs) issued through a Public Issue and listed on the Stock Exchange.The company provided details regarding the interest payments made, confirming that the entire interest amount was paid. The payments cover multiple tranches of debentures, with payments processed and recorded on May 18, 2026, fulfilling the obligations due around May 19, 2026.The total details of the interest payment for the various debenture tranches are provided below:Sr. No.ISINIssue Size (in INR lacs)Interest Amount (due/paid) (in INR...

BLS E-Services Limited Approves Rs. 156.82 Crore Acquisition of ATPL Equity; Releases FY Results BLS E-Services Limited announced key operational and financial milestones following its Board of Directors meeting held on May 18, 2026. The company approved the acquisition of 100% equity shares of Atyati Technologies Private Limited (ATPL) and released its audited Standalone and Consolidated Financial Results for the Fourth Quarter and the Financial Year ended March 31, 2026.During the meeting, the Board of Directors also recommended a final dividend of 5% per equity share for the financial year 2025-26, subject to approval by the members at the ensuing Annual General Meeting. Furthermore, M/s. Nangia & Co. LLP, Chartered Accountants...

Lupin Receives Tentative FDA Approval for Revefenacin Inhalation Solution Mumbai, India, Naples, Fla, May 18, 2026: Global pharmaceutical major Lupin Limited today announced that it has received tentative approval from the United States Food and Drug Administration (U.S. FDA). The approval pertains to its Abbreviated New Drug Application (ANDA) for Revefenacin Inhalation Solution, available in 175 mcg/3 mL Unit-Dose Vials.The newly approved Revefenacin Inhalation Solution (175 mcg/3 mL) is bioequivalent to Mylan's Yupelri® Inhalation Solution and is indicated for the maintenance treatment of patients suffering from Chronic Obstructive Pulmonary Disease (COPD).The pharmaceutical market for this product segment is significant, with...

Indian Oil Corporation Releases Audited Financial Results and Recommends Final Dividend for FY 2025-26 Indian Oil Corporation Limited announced the outcome of its Board Meeting held on May 18, 2026, disclosing its audited financial results (standalone and consolidated) for the quarter and year ended March 31, 2026. The Board also recommended a final dividend for the fiscal year 2025-26.The Board of Directors recommended a final dividend of 12.5% for the year 2025-26, amounting to Rs. 1.25 per equity share of the face value of Rs. 10 each on the paid-up share capital. This dividend is subject to the approval of the shareholders at the ensuing Annual General Meeting (AGM) and would be paid within 30 days from the date of declaration at...

RBI Bolsters Payment Oversight: Veteran Expert Appointed Executive Director for Settlement Systems The Reserve Bank of India (RBI) has made a significant structural announcement concerning its payment infrastructure. The central bank has appointed Shri Gunveer Singh to the key role of Executive Director (ED). The appointment is effective from May 18, 2026.This move solidifies RBI’s leadership in the rapidly evolving digital payments and settlement landscape. Shri Singh, who previously served as Chief General Manager in-Charge of the Department of Payment and Settlement Systems, now assumes the title of Executive Director.Strengthening Payment and Settlement Oversight In his capacity as Executive Director, Shri Singh will be...

Nelcast Limited Board Recommends 35% Dividend Ahead of 44th AGM Nelcast Limited announced key outcomes from its Board of Directors meeting, detailing the recommendation of a dividend for the financial year 2025-26 and outlining the schedule for its 44th Annual General Meeting (AGM).The Board of Directors recommended a dividend of 35% for the fiscal year 2025-26. This equates to Rs. 0.70 per share, based on a paid-up capital of Rs. 2/-. The dividend is subject to the approval of the company's members at the ensuing 44th Annual General Meeting. If approved by the shareholders, the dividend is expected to be paid within 30 days from the date of declaration at the AGM.The company confirmed that the 44th Annual General Meeting of Nelcast...

RBI Slaps Loan Ban and Restrictions on Nagar Sahakari Bank After Supervisory Concerns RBI Issues Strict Operational Directives to Nagar Sahakari Bank, Etawah The Reserve Bank of India (RBI) has issued comprehensive directions to Nagar Sahakari Bank Ltd., Etawah, following supervisory concerns regarding the institution's recent material developments. The directives, issued under the powers vested in the RBI, mandate severe restrictions on the bank’s operational capacity as of May 18, 2026.These stringent directions were formalized through a communication dated May 15, 2026, utilizing the powers under Section 35 A read with Section 56 of the Banking Regulation Act, 1949. The RBI's intervention aims primarily to protect the interests of...

Raj Rayon Industries Reports 39% Revenue Growth Driven by Capacity Expansion and Specialty Products Raj Rayon Industries Limited (RRIL) reported significant financial growth, achieving a 39% revenue jump to Rs 1,179.7 crore in the fourth quarter of fiscal year 2026. This expansion was fueled by major capacity additions and an improved product mix, particularly the increasing contribution of high-margin specialty yarns.Established in 1993, RRIL specializes in man-made polyester fibre manufacturing. The company successfully underwent a revival process, completing intensive modernization of its plant infrastructure by 2022-2023, which included an investment of Rs 306 crore in advanced machinery.In January 2023, commercial production...

Associated Alcohols & Breweries Ltd. Approves FY 2026 Results and Recommends 20% Dividend Associated Alcohols & Breweries Ltd. announced the outcomes of its Board of Directors meeting held on May 18, 2026. The Board considered and approved the Standalone and Consolidated Audited Financial Results and Audit Reports for the quarter and year ended March 31, 2026.During the meeting, the directors also recommended a dividend of 20%, equivalent to Rs. 2.00/- per Equity Share of Face Value of Rs. 10/- each, for the financial year ending March 31, 2026. The payment of this dividend is subject to the approval of the shareholders at the ensuing Annual General Meeting.Additionally, the Board approved the re-appointment of M/s Pipalia Singhal &...

Nelcast Limited Announces Audited Financial Results for Quarter and Year Ended March 31, 2026 Nelcast Limited announced the audited standalone and consolidated financial results for the quarter and year ended March 31, 2026. The Company's Board of Directors approved the audited financial results for both standalone and consolidated accounts.Furthermore, the Board of Directors recommended a dividend of 35%, equating to Rs. 0.70 per share on a paid-up capital of Rs. 2 for the financial year 2025-26. This dividend is subject to the approval of the shareholders at the ensuing 44th Annual General Meeting (AGM). Should the dividend be approved by the members, it will be paid within 30 days from the declaration date at the AGM.The 44th...

DOMS Industries Announces Results for FY 2026, Approves Dividend, and Appoints Auditors DOMS Industries Limited announced the outcome of its Board of Directors meeting held on May 18, 2026. The company released its Audited Standalone and Consolidated Financial Results for the financial year ended March 31, 2026. The board meeting also saw the recommendation of a final dividend and the appointment of new statutory auditors for the ensuing financial year.Financial Highlights for FY 2026 For the year ended March 31, 2026, the company recorded significant financial figures across its standalone and consolidated results.The Standalone Financial Results showed a total income of 206,715.88 and a net profit of 21,950.71. Meanwhile, the...

GNFC Boards Approves FY 2025-26 Results, Recommends Rs. 21 Dividend Per Share Gujarat Narmada Valley Fertilizers and Chemicals Limited (GNFC) announced several key corporate and financial updates following its Board of Directors meeting on May 18, 2026. The Board approved the audited standalone and consolidated financial results for the Fourth Quarter and the full Financial Year (FY) ended March 31, 2026.The Board also recommended a dividend of Rs. 21 per equity share of Rs. 10 each, subject to approval by the shareholders at the ensuing Annual General Meeting. Furthermore, M/s. B S R and Co., Chartered Accountants, Ahmedabad, were appointed as the Statutory Auditors for a term of five years, commencing from the 50th Annual General...