Markets

Filatex India Acquires Equity Shares in Ecosis Limited for Polyester Textiles Recycling Project Filatex India Limited announced on May 12, 2026, that it has acquired an additional stake in Ecosis Limited, its wholly owned subsidiary. The investment is targeted to bolster the subsidiary’s ongoing Polyester Textiles Recycling Project and meet working capital needs.The acquisition involved Filatex India Limited purchasing 1,00,00,000 Equity Shares of Ecosis Limited. These shares have a face value of Rs. 1 each, and Filatex acquired them at a price of Rs. 10 per share, amounting to an aggregate value of Rs. 10.00 crore.To date, Filatex has committed a substantial investment into Ecosis Limited, having invested around Rs. 65 crores in...

TRF Limited Approves Financial Results for FY 2026; Shares Key Data TRF Limited announced the approval of its unaudited and audited standalone and consolidated financial results for the quarter and financial year ended March 31, 2026. The company's statutory auditors, Pricewaterhouse & Co Chartered Accountants LLP, have issued an unmodified opinion on the financial results for the year ended March 31, 2026.The Board of Directors held its meeting on May 12, 2026, to consider and approve these financial outcomes.Financial Performance Highlights The company presented both standalone and consolidated financial results, alongside segmental data. The financial results provide insights into the performance across different business units...

E To E Transportation Secures ₹17.7 Crore Contract for Railway Electrification Works E To E Transportation Infrastructure Limited announced that it has secured a Service Order (SO) and Purchase Order (PO) from Adani Power Limited, Raipur. The contract involves executing Overhead Electrification Works of Railway Line at the Raipur Thermal Power Project, Chhattisgarh.The contract value is set at INR ₹ 17,70,07,366.74 (Rupees Seventeen Crore, Seventy Lakh, Seven Thousand, Three hundred Sixty-Six Rupees and Seventy-Four Paise).The agreement, which was awarded through competitive bidding, mandates the completion of the work within a period of 12 months from the order date of May 11, 2026. The company confirmed that the transaction is not...

Brand Concepts Limited Announces Acquisition of Shares by Promoter Prateek Maheshwari Brand Concepts Limited announced a significant change in promoter shareholding, reporting the acquisition of 1,624,220 equity shares by Prateek Maheshwari, the Managing Director and a member of the Promoter Group. The transaction, which took place on May 8, 2026, involved the transfer of shares from Mr. Pradeep Maheshwari, a promoter of the Company.The acquisition represents 13.01% of the Company's total shareholding.Transaction Details The shares were acquired through an off-market transaction and executed as an inter-se transfer by way of gift, meaning the transaction was completed with Nil consideration.The details of the change in holdings...

Vikram Solar Approves Major 6 GW Capital Investment in Tamil Nadu; Elects New Leadership Vikram Solar Limited reported significant board approvals regarding its capital expenditure plans and corporate governance structure, confirming the strategic expansion of its solar manufacturing capabilities. The company approved a massive ₹3,726 crore capital expenditure aimed at establishing a 6 GW backward-integrated wafer and ingot facility at its Gangaikondan site in Tamil Nadu by FY29. This project represents the first phase of a comprehensive 12 GW roadmap, positioning the company as an integrated solar leader focused on supply chain indigenization.Corporate Governance and Leadership Changes During the board meeting held on May 7, 2026...

Cohance Lifesciences Announces Q4 and FY26 Results, Sets Growth Expectations for FY27 Cohance Lifesciences Limited, formerly Suven Pharmaceuticals Limited, today announced its audited financial results for the fiscal year ended March 31, 2026, along with unaudited results for the quarter ended March 31, 2026. The announcement details the company's performance as a global Contract Development and Manufacturing Organization (CDMO), maintaining its focus on high-value platforms and expansion across various life science segments.Financial Performance Highlights The company reported substantial financials for the year ended March 31, 2026, showcasing performance across both standalone and consolidated entities.In the Financial Year 2026...

Nuvoco Vistas Corporation Wins Tax Dispute, Demand of Rs. 11.89 Crores Dropped Nuvoco Vistas Corporation Limited has successfully secured a rectification order concerning its tax assessment for the Financial Year 2022-23, resulting in the dropping of a demand amounting to Rs. 11.89 crores. The development concerns a dispute that originated from an Assessment Order where certain disallowances were initially made.The Jurisdiction Assessing Officer, Mumbai, issued the rectification order on May 11, 2026. The order was passed by considering the rectification application filed by the company under Section 154 read with Section 143(3) of the Income Tax Act, 1961.The dispute involved the company filing a rectification application against...

Max Financial Services Reports Audited Financial Results for Quarter and Year Ending March 31, 2026 Max Financial Services Limited announced the approval of its audited standalone and consolidated financial results for the quarter and financial year ended March 31, 2026. The Board of Directors held its meeting on May 12, 2026, and approved the results, accompanied by the Statutory Auditors' Reports, which confirmed an unmodified opinion on the financial statements.Following the board approval, the trading window for dealing in the company’s securities is set to remain closed until May 14, 2026.Financial Performance Review The company released detailed figures for both its consolidated and standalone performance.Consolidated...

Hindustan Oil Exploration Company Appoints Ms. Preeti Grover as Additional Non-Executive Independent Director Hindustan Oil Exploration Company Limited has announced the appointment of Ms. Preeti Grover as an Additional Director (Non-Executive Independent). The appointment was made by the Board of Directors following the recommendations of the Nomination and Remuneration Committee.The Board passed a circular resolution on May 12, 2026, formalizing the appointment. Ms. Grover will serve for a term of five consecutive years, beginning on May 12, 2026, pending subsequent approval from the company's shareholders.The details regarding Ms. Preeti Grover's appointment and professional profile are as follows:DetailInformationNew...

Promoter Pradeep Maheshwari Disposes 13.01% Stake in Brand Concepts Limited Pradeep Maheshwari, a promoter of Brand Concepts Limited, executed an off-market transfer involving a significant stake in the company. The shares were transferred to Prateek Maheshwari, a member of the Promoter Group.The transaction, which took place on May 8, 2026, saw Pradeep Maheshwari dispose of 1,624,220 equity shares. This disposal represents 13.01% of the total shareholding in Brand Concepts Limited. The transfer was structured as an inter-se transfer by way of gift, meaning there was no monetary consideration involved in the transaction.The transfer of the shares was confirmed through documentation dated May 12, 2026.Transaction Summary Details...

Sahyadri Industries Declares FY26 Results: Total Income Grows 12.5% to Rs 684.9 Crore Sahyadri Industries Limited has announced its audited financial results for the quarter and the full fiscal year ending March 31, 2026. The company reported strong performance across income, profitability, and margins for the fiscal year.The financial highlights for the period are detailed below, showing the quarterly performance and year-over-year growth rates.MetricQ4 FY26 (Rs. In Cr)YoY Growth RateTotal Income *196.528.8%EBITDA20.849.7%PAT10.6147.1%Full Year Performance Highlights During the full fiscal year 2026, Sahyadri Industries Limited achieved significant growth metrics. Total Income for FY26 stood at Rs 684.9 crore...

Abhishek Integrations Limited Receives Work Order for Spares Supply at Agartala Airport Abhishek Integrations Limited (AIL) has received a Letter of Intent (L.O.I.) for supplying spares at M.B.B Airport in Agartala. The contract, awarded by the Airports Authority of India (AAI), involves the supply of spares for GLF Installations at M.B.B Airport Agartala, with a total contract value of Rs. 98.15 Lakhs (including GST).The L.O.I. confirms that AIL's tender was accepted by the Chairman, Airports Authority of India. The accepted tender totaled Rs. 98,15,092.50/- (including GST). This value was reported to be 15.33% below the estimated cost of Rs. 1,15,92,751/- (including GST).According to the L.O.I., the work is considered domestic in...

Puravankara Subsidiary Starworth Receives Letter of Intent for Westin Hotel Project Puravankara Limited's subsidiary, Starworth Infrastructure & Construction Limited (SICL), has received a Letter of Intent (LOI) for executing construction works at the Westin Hotel project in Bangalore. The contract, awarded by Innmar Tourism and Hotels Private Limited, covers civil, structural, waterproofing, and allied works.SICL, which operates as a wholly owned subsidiary of Puravankara Limited, was awarded the contract for the Westin Hotel project located at Survey No. 12,13, beside Kundalahalli Metro Station in the EPIP Area Whitefield, Bangalore -560 066, India.The total contract value stands at ₹ 57,80,52,217 (Rupees Fifty Seven Crores Eighty...

PNC Infratech Secures One-Time Settlement of Rs 234.99 Crore in Agra Bypass Project Dispute PNC Infratech Limited announced the successful execution of a Settlement Agreement with the National Highways Authority of India (NHAI) concerning the company's Agra Bypass Project. This one-time settlement was achieved under the 'Vivad Se Vishwas III (Contractual Disputes)' Scheme of the Government of India.The Settlement Agreement was executed on May 12, 2026. The transaction involves the National Highways Authority of India (NHAI/Procuring Entity) and PNC Infratech Limited for a total amount of Rs. 234,99,03,465 (Two hundred thirty-four crore ninety-nine lakh three thousand four hundred sixty-five only). This payment represents the final...

INOX India Reports Highest Revenue in Q4 and FY26, Driven by Exports and Infrastructure Projects Vadodara/Mumbai, May 12, 2026: INOX India Ltd. announced its audited financial results for the fourth quarter and the full fiscal year ending March 31, 2026. The company reported its highest-ever Q4 Revenue of ₹475 Cr for Q4 FY26, reflecting a strong 24.2% year-over-year (YoY) growth. For the full fiscal year, the company posted an annual Revenue of ₹1,632 Cr in FY26, showcasing robust 21.2% YoY growth.Financial performance across the quarter and the year demonstrated significant growth in key metrics. Adjusted EBITDA for the fourth quarter rose 13.4% YoY to ₹108 Cr, while Adjusted Profit After Tax (PAT) increased by 9% YoY to ₹72 Cr. For...

Sagility Reports Strong FY26 Results; Recommends Final Dividend and New Stock Scheme Sagility Limited, a leading provider of technology-enabled business solutions to the U.S. healthcare industry, announced its consolidated financial results for the quarter and full fiscal year (FY26) ended March 31, 2026, on May 12, 2026. The company reported strong year-over-year growth metrics across its operations.At its Board of Directors meeting held on May 12, 2026, the Board approved the audited standalone and consolidated financial results for the quarter and year ended March 31, 2026, and received an unmodified opinion from the Statutory Auditors on the financial performance.Financial Performance Highlights For the full fiscal year ended...

RBI Cancels Sarvodaya Bank License Amid Capital Concerns, What Depositors Need to Know The Reserve Bank of India (RBI) has taken decisive action against Sarvodaya Co-operative Bank Ltd., Mumbai. The regulator officially cancelled the bank's operating license via an order issued on May 12, 2026. This major development signals a direct intervention into the cooperative banking sector due to severe financial instability.The cancellation, executed under the Banking Regulation Act, 1949, mandates that the bank must cease all banking activities immediately. The RBI has simultaneously directed the Commissioner for Cooperation and Registrar of Cooperative Societies, Maharashtra, to formalize the bank's winding-up process and appoint a...

N R Agarwal Industries Ltd Board Approves Dividend, Re-designates Directors, Releases Financial Results N R Agarwal Industries Limited announced that its Board of Directors held a meeting on May 12, 2026. During the meeting, the board approved the audited financial statements for the financial year ended March 31, 2026, and the audited financial results for the quarter and year ended March 31, 2026.The board also recommended a final dividend of 20%, translating to Rs. 2 per share on a face value of Rs. 10, subject to approval at the ensuing Annual General Meeting.Key Board Decisions and Directorship Changes The board took several key decisions regarding the company's leadership structure.1. Re-appointment of Director: Shri P K...

IIFL Capital Services Establishes Wholly Owned Subsidiary in GIFT City IFSC IIFL Capital Services Limited has successfully incorporated a new wholly owned subsidiary in the International Financial Services Centre (IFSC), GIFT City. The Ministry of Corporate Affairs approved the incorporation of the entity, named IIFL Capital (IFSC) Limited, on May 11, 2026.The new subsidiary, IIFL Capital (IFSC) Limited, is a wholly owned subsidiary of IIFL Capital Services Limited. It is positioned within the Financial Services sector and is incorporated in GIFT City, Gujarat, India.The company has been established with the purpose of undertaking activities as a broker-dealer and distributor. These activities will adhere to the guidelines set forth...

Kimberly-Clark Seals Mega-Acquisition of Kenvue; Personal Care Giants Merge to Dominate Global Consumer Health Kimberly-Clark Corporation has solidified its market standing with the approval of the acquisition of Kenvue Inc. from the Competition Commission of India (CCI) on 12/05/2026. This strategic merger combines two major consumer health players, creating a globally diversified entity poised for significant growth. The proposed transaction marks a substantial consolidation in the personal and consumer care sectors.Anatomy of the Kimberly-Clark and Kenvue Merger The proposed combination involves Kimberly-Clark Corporation acquiring sole control over Kenvue Inc. The transaction is structured as a comprehensive merger agreement. This...