Markets

Independent Director Mr. Shrikrishna K. Adivarekar Completes Second Term at Kalyani Steels Kalyani Steels Limited confirmed the completion of the second term of office for Mr. Shrikrishna K. Adivarekar as an Independent Director. Mr. Adivarekar formally ceased to be a Director of the Company effective May 18, 2026.The conclusion of his tenure followed the completion of his second term of office on May 17, 2026.The company noted that Mr. Adivarekar had been re-appointed for this second term of three (five) consecutive years. This re-appointment was approved by the members at the Forty-Ninth Annual General Meeting, which was held on August 1, 2022. The term covered the period from May 18, 2023, through to May 17, 2026.The details...

Kellton Tech Solutions Launches Phoenix.AI to Modernize Enterprise Legacy Systems, Claiming 80% Speed Increase Kellton Tech Solutions Limited has launched Phoenix.AI, an agentic platform designed to redefine how large enterprises modernize their legacy systems. The technology aims to re-engineer monolithic estates into cloud-native microservices, accelerating complex, multiyear transformation programs by up to 80% while reducing associated costs by up to 50%.Built on frontier AI capabilities, Phoenix.AI operates through a continuously running, agentic transformation framework. This platform automates the entire end-to-end lifecycle of enterprise code modernization. The process covers everything from initial analysis and decomposition...

Strides Pharma Science Limited Updates Timing for Earnings Call on Financial Results Strides Pharma Science Limited has announced an updated schedule for its upcoming earnings call, intended for investors and analysts. The call is scheduled for May 18, 2026, and will discuss the audited financial results of the company for the quarter and financial year ended March 31, 2026.The update corrects the previously communicated US time for the event. According to the company, the US time for the earnings call will be 7:30 AM EDT, changing from the initial communication of 6:30 AM EST.The updated timing for the Earnings Call scheduled for May 18, 2026, is detailed as follows:Time ZoneScheduled TimeIST5:00 PMGMT11:30 AMEDT7:30...

Tata Power and Druk Green Power Corporation Sign MoU to Build Skill Ecosystem for 5,000 MW Clean Energy Capacity Tata Power Company Limited, one of India's largest integrated power utilities, and Druk Green Power Corporation Limited (DGPC), the sole power generation utility of Bhutan, signed a Memorandum of Understanding (MoU) in Thimphu, Bhutan. The agreement aims to establish a comprehensive skill development ecosystem, supporting the joint development of clean energy projects valued at 5,000 MW.The MoU lays the foundation for a structured training framework designed to build a future-ready workforce. The signing ceremony was attended by the Hon'ble Prime Minister of Bhutan, Lyonchhen Tshering Tobgay. The agreement was formally...

HDFC Asset Management Addresses Cybersecurity Incident Following Claimed IT Breach HDFC Asset Management Company Limited confirmed that it experienced a cybersecurity incident on May 16, 2026. The company addressed a communication from an anonymous source claiming unauthorized access to certain portions of its IT infrastructure.Upon receiving the communication, HDFC Asset Management Company Limited immediately activated necessary protocols for containment and incident response. The firm has since engaged a specialist firm to thoroughly assess the potential impact of the alleged breach.According to initial assessments, the company stated that the cybersecurity incident is unlikely to affect the continuity of its business and...

Paytm Launches Pocket Money, Bringing UPI Payments Access to Teenagers Paytm (One 97 Communications Limited), India's full stack merchant payments leader, has launched Paytm Pocket Money. The service aims to provide teenagers with the capability to make everyday Paytm UPI payments without requiring their own bank account, while simultaneously offering parents and trusted family members controlled spending access and real-time visibility.The introduction of Paytm Pocket Money addresses the growing need for digital payment methods among school and college students who frequently make transactions at canteens, metro stations, cab services, and for mobile recharges. Previously, these payments often relied on cash or direct assistance from...

Hindustan Oil Exploration Company Announces Resale of B-80 Crude Cargo Hindustan Oil Exploration Company Limited announced that the resale of B-80 crude oil cargo to a third-party buyer has commenced. This development provides an update regarding the crude oil supply from the B-80 field previously related to HPCL.B-80 crude is currently stored within the HPCL - Mumbai Refinery storage tanks, where it is commingled with other grades of crude oil.The company stated that it and HPCL continue to engage constructively and are actively working towards reaching an amicable resolution concerning the matter.The details were provided by Baroruchi Mishra, Managing Director & CEO of Hindustan Oil Exploration Company Limited.HINDOILEXP Stock...

Glenmark Pharmaceuticals Launches Vancomycin Hydrochloride Injection in the US Market Elmwood Park, New Jersey, May 18, 2026 — Glenmark Pharmaceuticals Inc., USA (Glenmark) announced the launch of Vancomycin Hydrochloride for Injection USP, available in 500 mg/vial and 1 g/vial concentrations. The company stated that Glenmark's Vancomycin Hydrochloride for Injection USP, 500 mg/vial and 1 g/vial is bioequivalent and therapeutically equivalent to the reference listed drug, Vancomycin Hydrochloride for Injection USP, 500 mg/vial and 1 g/vial manufactured by Fresenius Kabi USA, LLC.The launch adds the product to Glenmark's portfolio, solidifying its presence in the U.S. pharmaceutical market.According to IQVIA sales data for the...

JSW Energy Divests Stake in JSW Steel Limited, Realizing ₹3,150 Crores JSW Energy Limited announced the divestment of a partial stake in JSW Steel Limited, realizing gross proceeds of ₹3,150 Crores on May 18, 2026. The sale was executed through a bulk deal conducted on the National Stock Exchange of India Limited.The company divested 2,50,00,000 equity shares of JSW Steel Limited, each having a face value of ₹1. This transaction was conducted as part of a strategic liquidity release.JSW Energy Limited stated that the monetization of this portion of its shareholding in JSW Steel Limited aims to achieve two primary goals: it releases vital capital necessary for pursuing the company's growth strategy, and it also improves the Return on...

Manoj Jewellers Reports Strong FY26 Results: Total Income Rises 91.5%, PAT Jumps 89.4% Manoj Jewellers Limited, a Chennai-based retailer and wholesaler of hallmarked gold, diamond, and silver jewellery, announced its audited financial results for the second half and full financial year ended March 31, 2026. The Company reported its highest-ever annual performance, driven by a rapid scale-up of its wholesale business and the launch of new product lines.For the full financial year FY26, the Company's Total Income grew 91.5% year over year (YoY) to ₹11,419.9 lakhs. Profit After Tax (PAT) saw a substantial increase of 89.4% YoY, reaching ₹902.4 lakhs. Earnings Per Share (EPS) rose 30.7% YoY to ₹10.4.Financial Performance Highlights The...

Prudential Acquired Controlling Stake in Bharti Life Insurance as Part of India Repositioning Prudential Corporation Holdings Limited has announced a strategic repositioning of its India operations through the acquisition of a controlling stake in Bharti Life Insurance Company Limited. This transaction aims to secure a majority ownership position, enhancing Prudential's presence in the Indian life insurance market.The move involves Prudential agreeing to acquire a 75% stake in Bharti Life Insurance Company. The purchase was executed through share purchase agreements (SPAs) dated May 17, 2026, with Bharti Life Ventures Private Limited and 360 ONE Asset Management.In a detailed press release issued on May 17, 2026, Prudential stated...

Meerut Budaun Expressway Commences Toll Collection on Ganga Expressway Project IRB Infrastructure Developers Limited has announced a major operational milestone for the Ganga Expressway (Group 1) Project. Meerut Budaun Expressway Limited, the Project Special Purpose Vehicle (SPV), has commenced toll collection on the project effective May 17, 2026.The announcement confirms that toll collection has begun on the Ganga Expressway (Group 1) Project. This operational update follows earlier progress, which included the receipt of the Provisional Certificate (PCOD) for the expressway and the commencement of trial run traffic operations.The Project SPV for the Ganga Expressway is Meerut Budaun Expressway Limited. In this context, MMK Toll...

Neogen Chemicals Reports Robust Q4 FY26 Performance; Recommends Dividend of INR 1 Per Share Neogen Chemicals Limited reported a strong financial performance for the fourth quarter and full year ending March 31, 2026. The company announced a final dividend recommendation of INR 1 per equity share for FY26, subject to shareholder approval.In the fourth quarter of FY26, consolidated revenues stood at INR 247 crore, marking a 22% increase year-over-year (Y-o-Y). The company attributed its robust performance to rising volumes and sustained high plant utilization, which helped counteract industry headwinds, elevated input costs, and geopolitical supply chain disruptions.Consolidated EBITDA for Q4 FY26 reached INR 44 crore, rising by 21%...

Prudential Announces Strategic Repositioning of India Operations via Acquisition of Stake in Bharti Life Insurance Prudential plc, a leading insurer and asset manager in Asia and Africa, has announced a major strategic repositioning of its India operations. The company confirmed it has agreed to acquire a controlling 75% stake in Bharti Life Insurance Company Limited, a prominent Indian life insurer.The transaction, which is structured through share purchase agreements (SPAs) dated May 17, 2026, involves acquiring the stake from Bharti Life Ventures Pvt Ltd and 360 ONE Asset Management.According to the announcement, the initial cash consideration for the proposed transaction is set at ₹3,500 crore (c. $389 million²), payable upon...

United Spirits Limited Challenges Water Charges Demand Before Supreme Court United Spirits Limited is contesting a demand for water charges, which arose from Maharashtra's Water Resources Department (WRD). The dispute is before the Bombay High Court and has reached the Supreme Court, following the company's challenge to a demand letter from the WRD.The litigation involves multiple state bodies, including the State of Maharashtra, the Maharashtra Water Resources Regulatory Authority (MWRRA), and the Water Resources Department (WRD), Government of Maharashtra.The core dispute stems from a letter issued by the WRD dated March 20, 2026 (received on March 24, 2026), which computed a total due payable of INR 441.95 crore towards water...

Railtel Secures Major Domestic Order for Railway Signaling Work Railtel Corporation of India Limited has announced securing a significant Letter of Acceptance (LoA) for a major railway signaling contract from the Senior Divisional Station, Jodhpur. The awarded work pertains to the provision of Double Distant signals within the NWRailway network.The contract focuses on executing double distant signalling work specifically in the Jajiwal (JWL)-Nawa City (NAC) section of the JU division of NWRailway. The order is designated as a domestic contract.In terms of the financial commitment, the estimated size of the order, including tax, is Rs. 15,67,22,761/-.The details of the secured order are as follows:Detail CategoryDescription /...

Manav Infra Projects Secures Rs 12.28 Crore Work Order for Motilal Nagar Redevelopment Project Manav Infra Projects Limited has secured a significant work order for a major infrastructure project in Mumbai. The company has been awarded the contract for carrying out Shore Piling works package for the MN1 S1 Parcel, which falls under the Motilal Nagar Redevelopment Project in Goregaon West, Mumbai.The total value of the project order from Adani Realty is approximately Rs. 12,28,61,665/- (Rupees Twelve Crores Twenty Eight Lakhs Sixty-One Thousand Six Hundred and Sixty-Five Only).The company confirmed that the project amount mentioned is inclusive of GST at 18%. This successful contract represents a normal course business update for...

Balmer Lawrie Board Decides Not to Pursue Share Buyback Program Balmer Lawrie & Company Limited, a Government of India Enterprise, announced that its Board of Directors has decided not to buy back the shares of the Company.The decision was made following a deliberation concerning the compliance with the Consolidated Guidelines on general principles and mechanism for Capital Restructuring of CPSEs. These guidelines bear the Office Memorandum no. F.No. 5/2/2016-Policy dated 18th November, 2024, issued by the Ministry of Finance, Department of Investment and Public Asset Management.During the Board meeting held on May 17, 2026, the Directors analyzed and deliberated on the guidelines before arriving at the final decision.The Company...

3M India Limited Updates Panel of Personnel Authorized for Determining Materiality of Events 3M India Limited has updated the list of key personnel authorized to collectively determine the materiality of company events or information. This updated panel includes the Managing Director, Whole-time Director, Chief Financial Officer, and Company Secretary.The following individuals are recognized as authorized signatories for determining the materiality of events or information for disclosures.Name & DesignationContact DetailsAseem Joshi, Managing Directorajoshi6@mmm.com +91 80 22231414Jayanand Kaginalkar, Whole-time Directorjvkaginalkar@mmm.com +91 80 22231414Nikhil Arora, Chief Financial Officernarora@mmm.com +91 80 22231414...

Tata Power Issues Advisory on Mandatory KYC Update for Physical Security Holders Tata Power Company Limited has issued an advisory regarding the mandatory updating of Know Your Customer (KYC) details for all shareholders holding physical securities. The company emphasized the requirement to ensure that all records are current, including PAN, registered address with a PIN code, mobile number, bank account details, and specimen signature of the securities holders.The update aims to streamline dividend and interest payments, mandating that the details of all physical security holders be registered with the Registrar and Share Transfer Agent (RTA).According to the company’s notice, the timely updation of KYC details is critical for...