Markets

Adani Power Provides Update on GVK Energy Insolvency Status and CCI Approval Adani Power Ltd. provided an update concerning the ongoing Corporate Insolvency Resolution Process (CIRP) of GVK Energy Limited. The company confirmed that the resolution plans submitted by various bidders remain under consideration, following necessary approvals from the Competition Commission of India (CCI).GVK Energy Limited had initially been admitted into the CIRP on May 6, 2025. This admission followed a Section 7 application under the Insolvency and Bankruptcy Code (IBC) filed by lenders due to default.The process gained momentum when a detailed invitation for Expression of Interest (EOI) was published on July 10, 2025, for the CIRP. Subsequent to...

Mirc Electronics Ltd. Board Meeting Scheduled to Consider Fund Raising Through Securities Issue Mirc Electronics Ltd. has scheduled a Board of Directors meeting for Saturday, May 16, 2026, to review and approve a proposal for raising funds.During the meeting, the Board is set to consider and approve the issuance of one or more financial instruments. These instruments include equity shares, warrants, convertible preference shares, convertible or NonConvertible securities of any description, or warrants. The funds can be raised through various mechanisms, including preferential issue, private placements, qualified institutional placements, or any other suitable methods or combination thereof permitted under applicable laws.In addition...

Alembic Pharmaceuticals Receives USFDA Tentative Approval for Darolutamide Tablets, 300 mg Alembic Pharmaceuticals Limited announced on May 14, 2026, that it has received tentative approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) for Darolutamide Tablets, 300 mg.The approved ANDA is therapeutically equivalent to the reference listed drug product (RLD), Nubeqa Tablets, 300 mg, which is manufactured by Bayer HealthCare Pharmaceuticals Inc. Darolutamide is an androgen receptor inhibitor used in the treatment of adult patients for specific prostate cancer conditions.The drug’s indications cover multiple stages of prostate cancer care, including:Non-metastatic castration-resistant...

Sandhar Technologies to Hold Board Meeting on May 21, 2026, to Approve Financial Results Sandhar Technologies Ltd has announced that a meeting of its Board of Directors is scheduled for Thursday, May 21, 2026. The Board meeting is slated to consider and approve key corporate matters, including the company's financial results and dividend recommendation.During the meeting, the Board is set to approve the Audited Standalone and Consolidated Financial Results of Sandhar Technologies Ltd for the Quarter and Year ended March 31, 2026. The approval will be made alongside the accompanying Audit Report.The primary agenda points for the Board meeting are structured as follows:Agenda ItemPurposeFinancial ResultsConsider and approve the...

Embassy Developments Secures Favourable Karnataka High Court Order; KIADB Resumption Order Set Aside Bengaluru - May 14, 2026Embassy Developments Limited announced that the Karnataka High Court has set aside the Karnataka Industrial Areas Development Board’s (KIADB) earlier order. The order had directed the resumption of approximately 78 acres of land at the Kadugodi Industrial Area in Bengaluru, which is currently held by Embassy East Business Park Limited (EEBPL), a wholly owned subsidiary of the Company.The High Court's decision sets aside the KIADB resumption proceedings, enabling EEBPL to continue its lawful possession of the land parcel. The Kadugodi land remains a critical asset for the Company's long-term development plans...

Gujarat Kidney And Super Speciality Limited to Deploy 100 AI-Powered Haemodialysis Machines Across Network Gujarat Kidney And Super Speciality Limited (GKSL) has announced a major scale-up of its renal care services through the procurement of 100 units of AI-enabled Haemodialysis machines. The company plans to integrate these advanced machines into its network to substantially improve access to high-quality, technology-enabled patient care across Gujarat.The expansion strategy begins with a phase-1 deployment at the Gujarat Multi Specialty Hospital in Godhra. Eight AI-based haemodialysis machines are slated to be installed and commissioned at the Godhra facility within the next 10 days, following the successful completion of all...

SEBI Set to Bolster Urban Finance: Major Overhaul of Municipal Debt Rules Targets Infrastructure Surge The regulatory framework governing municipal debt securities is undergoing a massive overhaul. The Securities and Exchange Board of India (SEBI) has released a detailed consultation paper proposing significant changes to the SEBI (Issue and Listing of Municipal Debt Securities) Regulations, 2015. This move signals a concerted effort to deepen the municipal bond market and channel greater capital towards vital urban infrastructure development across India.Municipal Corporations are critical pillars of India's three-level governance structure. They are responsible for grassroots service delivery and infrastructure growth, making stable...

SEBI Upholds Fund Diversion Charges Against Bajaj Hindusthan Sugar; Dismisses 'Lack of Jurisdiction' Defense The Securities and Exchange Board of India (SEBI) has issued a definitive order rejecting the legal challenge filed by Bajaj Hindusthan Sugar Limited (BHSL) concerning alleged diversion of funds and non-disclosure of related party transactions (RPTs). The quasi-judicial authority concluded that SEBI possesses the necessary jurisdiction to proceed with its investigation.The ruling, dated May 13, 2026, addresses whether SEBI's initial Show Cause Notice (SCN) was flawed due to procedural lapses or a lack of foundational facts. The decision reaffirms SEBI's power to investigate allegations related to fund misconduct.Original...

SEBI Slaps ₹1 Lakh Penalty on RIA After Alleging Overcharging of Advisory Fees SEBI has issued a significant adjudication order penalizing Dwaith Advisory Private Limited for alleged violations concerning the fee structure charged to an investment client. The regulator found that the advisory firm charged fees significantly above the prescribed limits set by SEBI regulations.The order underscores SEBI’s strict vigilance over compliance standards within the investment advisory sector, particularly concerning the accurate classification of clients under accreditation frameworks.SEBI Adjudicates Breach of Advisory Fee Norms The Securities and Exchange Board of India (SEBI) conducted an investigation into Dwaith Advisory Private Limited...

SEBI Unlocks Intraday Liquidity: Key Changes Proposed for Mutual Funds' Borrowing Rules The Securities and Exchange Board of India (SEBI) has released a comprehensive Consultation Paper addressing the utilization of intraday borrowing lines by Mutual Funds (AMCs). The proposal seeks to redefine how these funds manage daily cash flows, potentially streamlining operations and enhancing investment flexibility across the asset management sector.The paper aims to garner expert and public comments on allowing AMCs to utilize intraday borrowing facilities for a broader set of purposes beyond just meeting unitholder redemptions. This move is set to reshape the operational mechanics of fund management in India.Understanding the Proposal's...

MTAR Technologies Limited Receives International Purchase Orders Valued at Rs. 2278.96 Crores MTAR Technologies Limited has announced the receipt of significant international purchase orders, valued at USD 238.76 million. The total value of the orders has been reported at Rs. 2278.96 Crores, based on an applicable exchange rate of Rs. 95.50.The company confirmed that these orders represent a continuation of regular business with an existing international customer. The received contract is classified as a Blanket Purchase Order.According to the details provided by the company, the following key attributes define the awarded orders:Detail CategoryDescriptionOrder Value (International)USD 238.76 MillionOrder Value (Indian...

Brightcom Group Advances Digital Ecosystem with Strategic Focus on AI and Defence Infrastructure Brightcom Group Ltd is strategically positioning itself to capitalize on global digital transformations by adopting the stance of "Leading the Digital Revolution." The company’s evolving global focus spans critical areas including digital advertising ecosystems, programmatic marketplace expansion, AI-enabled technologies, and international monetization platforms.The group’s strategy aligns with accelerating the development of its Brightcom Defence division and evaluating future-ready opportunities within strategic digital infrastructure and advanced technology ecosystems.Operational Milestones and Business Structure Brightcom Group...

Mr. Chatrabhuj Butani Disposes of Shares in Aptus Pharma Limited Mr. Chatrabhuj Vallabhbhai Butani, identified as the Promotor Group, engaged in a disposal of shares in Aptus Pharma Limited on May 11, 2026. The transaction involved the sale of voting rights shares and disposal undertaking/other securities.According to the details, Mr. Butani disposed of 1,24,000 shares carrying voting rights. This disposal represented 1.81% of the total share/voting capital of Aptus Pharma Limited. The transaction was executed through a Group Off-market inter-se transfer among Promoters.Following the sale, the Promotor Group’s holding was reported as 1,01,000 shares, representing 1.47% of the total diluted share/voting capital.The total equity...

Sorabh Gupta Acquires 2.29% Stake in Dhampure Specialty Sugars Through Warrants Mr. Sorabh Gupta has increased his holding in Dhampure Specialty Sugars Limited, acquiring 2,20,000 warrants convertible into equity shares. This transaction was executed through a preferential issue on May 11, 2026. The acquired warrants represent 2.29% of the total issued and paidup share capital of the company.The increase in holding brings Mr. Gupta's total cumulative shareholding to 3,931,813 shares, marking a reduced but significant stake of 40.91% of the total diluted share/voting capital.Key Acquisition Details Mr. Gupta, who is categorized as a promoter, previously held 3,711,813 shares, representing a 42.51% stake in the company.The details...

Verventa Holdings Ltd Creates Pledge Over Yes Bank Shares Under Facility Agreement Verventa Holdings Ltd (VHL) has created a security pledge over its shares in Yes Bank Limited following the execution of a Facility Agreement. Axis Trustee Services Limited acted as the onshore security agent for the lenders in connection with the transaction.The pledge was created by VHL over its holding in Yes Bank Limited, which represents 8.49% of the issued and paid-up share capital and 8.39% of the total diluted share/voting capital of the bank. The security was established with effect from May 11, 2026.The arrangement was formalized through a Facility Agreement entered into between VHL and various parties on April 15, 2026.Shareholding...

Revolt Riders Cross 72 Crore Electric Kilometres, Reflecting Shift Towards Sustainable Mobility Revolt Motors, India's top electric motorcycle brand, reported a significant cumulative milestone, highlighting the growing shift towards electric mobility across India. The achievement of over 72 crore electric kilometres is noted against the backdrop of Prime Minister Narendra Modi's encouraging call for citizens to reduce dependence on petrol and diesel and adopt more sustainable lifestyle choices.The company stated that its growing community of over 57,654 riders has been actively building the future of clean transport, translating collective usage into measurable environmental and financial impacts.According to the latest figures...

Kaynes Technology Reports 33% YoY Growth in Revenue for FY26, Achieving INR 36,264 mn Mysuru, May 13, 2026: Kaynes Technology India Limited, a leading end-to-end IoT solutions-enabled integrated electronics manufacturer, has reported its audited consolidated financial results for the fourth quarter (Q4) and the full fiscal year (FY26), following approval by the Board of Directors.The company announced that its consolidated revenues reached INR 36,264 million in FY26, marking a 33% year over year (YoY) growth. For the quarter ending March 31, 2026, consolidated revenues stood at INR 12,426 million, reflecting a 26% YoY increase, while EBITDA for the quarter was INR 1,937 million, up 15% YoY.Overall, the consolidated EBITDA for the...

Central Government Nominates Shri Sanjay Lohiya as New Director on LIC Board Life Insurance Corporation of India (LIC) has seen a change in its Government Nominee Director, as the Central Government nominated Shri Sanjay Lohiya to the board. The nomination, effective May 13, 2026, replaces Ms. Shalini Pandit in the role.Shri Sanjay Lohiya, Special Secretary in the Department of Financial Services, Ministry of Finance, has been nominated as the Government Nominee Director on the Board of Life Insurance Corporation of India. This appointment is effective immediately and continues until further orders.With this change, Ms. Shalini Pandit ceases to be the Government Nominee Director with effect from May 13, 2026. Consequently, she also...

Vedant Fashions Limited Appeal Rejected by Kolkata Authority; Demand Confirms Recovery of ₹1.01 Crore Vedant Fashions Limited has reported that its appeal against a previous Order-in-Original (OIO) dated February 02, 2025, was rejected. The Order-in-Appeal was passed by the Office of the Additional Commissioner (Appeal), Kolkata Appeal-I, CGST & CX, Kolkata, on May 13, 2026, confirming the tax demands originally raised.The appeal rejection mandates the recovery of Input Tax Credit (ITC) and associated penalties, primarily relating to the fiscal years 2017-18 to 2019-20.The order, which was received via email on May 13, 2026, confirms the original demand made under the CGST Act 2017. The financial demands confirmed by the Kolkata...

SKF India Announces Final Dividend Recommendation, Approves FY 2026 Results, and Key Management Appointments SKF India Limited announced several key corporate actions following its Board of Directors meeting held on May 13, 2026. The board reviewed the financial results for the fiscal year ended March 31, 2026, recommended a final dividend, and confirmed changes in key managerial personnel and auditor appointments.Financial Results and Dividend Recommendation The Board of Directors approved the Unaudited and Annual Audited Financial Results (Standalone and Consolidated) for the financial year ended March 31, 2026. The statutory auditors, M/s Deloitte Haskins & Sells LLP, issued Limited Review Reports/Audit Reports with an unmodified...