Markets

Axis Bank Exercises Call Option to Redeem US$600 Million in Additional Tier 1 Notes Axis Bank Limited has decided to exercise the call option to fully redeem US$600,000,000 worth of Additional Tier 1 Notes. The notes were originally issued on September 8, 2021, with a coupon rate of 4.10 per cent.The Bank will redeem the specified Notes in full on the First Call Date, which is September 8, 2026. The redemption will be completed at the applicable redemption price, along with all accrued and unpaid interest/distributions, as per the terms of the Notes.The redemption pertains to two sets of securities identified by ISIN and CUSIP. The details of the notes and the redemption are as follows:Nature of SecuritiesAmount...

<h1>Central Government Amendment Restricts State Taxes on Mineral Rights, Citing MMDR</h1>Dalmia Bharat Limited has confirmed that changes brought by the Central Government via a recent amendment to the Mines and Minerals (Development and Regulation) Act, 1957 (MMDR), mean the company and its subsidiaries are no longer required to pay Mineral Bearing Land Tax and/or Mineral Cess, effective August 22, 2026.The Mines and Minerals (Development and Regulation) Amendment Act, 2026, was notified on August 22, 2026. This amendment restricts the imposition of taxes, cess, and other levies by State Governments on mineral rights or mineral-bearing lands.The legislation further clarifies that while any levy not paid or collected by the State...

KDDL Limited Sets Record Date for Final Dividend Eligibility KDDL Limited has announced the record date for determining the eligibility of shareholders to receive the final dividend, if declared, at the forthcoming Annual General Meeting (AGM).The company fixed Tuesday, September 8, 2026, as the record date. This date pertains to the final dividend for the financial year ended March 31, 2026.The measure of eligibility for shareholders to receive the dividend, if declared at the AGM, is set by this specific record date.KDDL Stock Price Movement Shares of KDDL Limited shed value on Monday, settling at ₹3848.7 after slipping by 3.88% from the previous market close. The stock traded within an intraday range bounded by a high of...

IDFC First Bank Prices US$350 Million 5 Year Senior Notes, Citing Strong Investor Demand IDFC First Bank Limited successfully priced its benchmark US$350 Million 5 year Senior Notes on August 24, 2026. The issuance was executed through the Bank's IFSC Banking Unit.The pricing of these notes follows the Bank's previous international bond issuance, which was a maiden US$ 500 million benchmark-sized 3-year bond. This prior issuance was priced on August 18, 2026, and subsequently was upsized by US$ 100 million to US$ 600 million on August 19, 2026.The market response to the recent issuances has been positive, with both the international bond and the senior notes receiving strong demand from marquee global institutional investors. This...

HDFC Bank Receives ESG Ratings from Major Agencies HDFC Bank Limited has received ESG ratings from two separate agencies, ESG Risk Assessments & Insights Limited and Crisil ESG Ratings & Analytics Limited, following assessments completed on August 24, 2026.The ratings provide insights into the bank's environmental, social, and governance performance. The results, which are based on independently prepared assessments, are available across both rating providers.Key ESG ratings assigned to HDFC Bank Limited include:ESG Rating ProviderESG RatingESG Risk Assessments & Insights Limited73.03Crisil ESG Ratings & Analytics Limited76The bank confirmed that the ESG ratings were independently prepared by the respective agencies...

<h1>Nitco Limited fully recovers long-outstanding capital advance from Saumya Buildcon</h1>Nitco Limited has successfully recovered the entire outstanding balance of a capital advance provided to Saumya Buildcon Private Limited (SBPL). The advance, which was issued in connection with the procurement of land, has now been fully recovered and settled by the company.The capital advance had been provided by Nitco Limited to SBPL more than a decade ago. However, the proposed land transaction did not materialize, resulting in the advance remaining outstanding.As part of its continuous efforts toward the recovery and regularization of long-outstanding advances, Nitco Limited has received the full outstanding balance amount of Rs. 995.98...

Zenith Steel Pipes & Industries Limited Announces Changes in Board Composition Zenith Steel Pipes & Industries Limited has announced changes in its board of directors, reporting the cessation of an existing Independent Director and the appointment of a new Non-Executive Independent Director.Ms. Bhavika Sharma has ceased to be an Independent Director of Zenith Steel Pipes & Industries Limited, effective August 24, 2026, following the completion of her tenure. Ms. Sharma holds a directorship at Ok Play India Limited.Concurrently, the company announced the appointment of Mrs. Aradhana Nayak (DIN: 08536989) as an Additional Director in the capacity of a Non-Executive Independent Director. The appointment is effective from August 24...

<h1>Defence and Aerospace Major Sigma Advanced Systems Deepens Rolls-Royce Partnership with £125m Additional Long-Term Agreement</h1>Sigma Advanced Systems has secured a substantial new long-term contract with Rolls-Royce through its recently acquired UK subsidiary, Bromford Precision Solutions. This deal demonstrates the immediate strategic value of the acquisition and significantly expands the Group's long-term relationship with one of the world's leading aerospace original equipment manufacturers (OEMs).Valued at nearly £125 million, the agreement builds upon the existing Rolls-Royce long-term contract, which was valued at approximately £300 million. The combined agreements broaden the Group's product offerings, manufacturing...

Union Bank of India Launches US$300 Million Senior Unsecured Dual Tranche Notes Union Bank of India is issuing US$300,000,000 in senior unsecured notes through its DIFC Branch in Dubai. The notes are USD denominated and target investors, with the proceeds intended to support the bank's operational and expansion needs.The investment vehicle is set to be listed on the NSE IFSC Limited. The net proceeds from the issuance of the notes will be allocated to three main areas: meeting the funding requirements of the Bank's DIFC Branch, developing and expanding the business of the DIFC Branch, and fulfilling the bank's general corporate purpose.The notes are structured as a dual tranche offering, featuring two distinct tenures and...

Sudarshan Subsidiary Acquires Aluminium Dyes Manufacturing Plant from Clariant Sudarshan Switzerland SLO AG, a Step-Down Wholly-Owned Subsidiary of Sudarshan Chemical Industries Limited, has entered into a definitive Asset Sale and Transfer Agreement with Clariant Additives (Switzerland) AG. The agreement, signed on August 24, 2026, allows Sudarshan's subsidiary to acquire Clariant's aluminium dyes and chemicals manufacturing plant located in Muttenz, Switzerland.The acquisition signifies a pivotal shift in the company's operations. Prior to the agreement, the Muttenz plant manufactured the Aluminium Dyes portfolio for the Sudarshan Chemical Group, which includes the Sanodal®, Sanodure®, Sanodye®, and Anodal® brands. The Asset Sale...

IIFL Finance Secures Stay on Tax Demand from IT Authority; First Installment Payment Made IIFL Finance Limited has received a crucial update regarding a tax assessment order issued by the IT Authority concerning its material subsidiary, IIFL Home Finance Limited. The IT Authority granted a stay on the outstanding demand, subject to certain payment obligations.The assessment order, received on August 24, 2026, related to a block assessment proceeding arising from a search and seizure action. The assessment covered the block period spanning April 1, 2018, to February 3, 2025.Details of the Dispute and DemandThe IT Authority raised a tax demand against IIFL Home Finance Limited under section 158BC(1)(c) of the Income Tax Act, 1961...

ICRA Assigns AAA Rating to Avenue Supermarts Limited Non-Convertible Debentures Avenue Supermarts Limited secured a strong credit rating for its Non-Convertible Debentures (NCDs) after ICRA Limited assigned a rating of AAA (Stable).The rating assessment covers the company's NCDs, with ICRA's Rating Committee finalizing the rating for the instruments.According to the details provided by the rating agency, the assigned rating is as follows:Rated InstrumentRated AmountRatingNon-Convertible Debentures (Proposed)Rs. 1,000 croresICRA AAA (Stable)TotalRs. 1,000 croresThe rating was assigned by ICRA Limited on August 24, 2026.The rating is specifically tied to the terms and conditions of the instruments, and the rating...

Encumbrances Over Vedanta Ltd Shares Fully Released Following Repayment of Facilities Vedanta Limited (VEDL) saw the complete release of encumbrances over its equity shares, effective from 21 August 2026, following the full repayment of facilities and all other liabilities under several agreements.The encumbrances were previously established over the equity shares of VEDL, which were held by direct and indirect subsidiaries of Vedanta Resources Limited (VRL). These subsidiaries include Twin Star Holdings Ltd (TSHL), Welter Trading Limited, Vedanta Holdings Mauritius Limited (VHML), Vedanta Holdings Mauritius II Limited (VHMLII), and Vedanta Netherlands Investments BV (VNIBV).The encumbrances were created through a series of...

GPT Infraprojects Subsidiary Awarded Contract Valued at Rs. 97.31 Crore by Northeast Frontier Railway GPT Infraprojects Limited's Wholly Owned Subsidiary has secured a significant contract valued at Rs. 97.31 Crore. The contract was awarded by the Office of the General Manager Northeast Frontier Railway in Guwahati.The subsidiary, Alcon Builders and Engineers Private Limited, was declared the First Lowest (L1) bidder for the project.The contract details are as follows:Client NameContract SizeNature of ContractOffice of the General Manager Northeast Frontier Railway, Maligaon, Guwahati-781011Rs. 97.31 CroreProvision of Electronic Interlocking at ADF (Adina), AZR (Azamnagar Road), KWE (Khurial), MXJ (Mangurjan), TMH...

Cyient Unveils 'Nothing Less' Brand Positioning, Solidifying Role as Global Lifecycle Engineering Services Leader Hyderabad, August 24, 2026: Cyient today unveiled its new brand positioning and promise, 'Nothing Less,' marking the company's evolution into a Global Lifecycle Engineering Services leader. The refreshed positioning is designed to help customers achieve exemplary outcomes in an increasingly complex, intelligence-driven global landscape.The new positioning centers on the concept of Intelligent Engineering, which encompasses bringing together engineering, digital, and industry expertise to help clients improve performance, reliability, and growth. This is complemented by "Embracing Intelligence," which involves harnessing...

Patel Integrated Logistics Announces AGM Date and Revises Recommended Dividend for Fiscal Year 2026-27 Patel Integrated Logistics Limited has announced key decisions regarding its upcoming Annual General Meeting (AGM) and provided a revised recommendation for the final dividend for the financial year ended March 31, 2026.The company's Board of Directors, in a meeting held on August 24, 2026, approved the convening of the 64th Annual General Meeting (AGM). The AGM is scheduled to be held on Thursday, September 24, 2026, at 11:00 A.M. The meeting will be conducted via Video Conferencing (VC) or other Audio-Visual Means (OAVM).Record Period and Share Transfer Book Closure To facilitate the AGM and the determination of members'...

NCLT Reserves Order for Scheme of Amalgamation involving Dabur India Limited Dabur India Limited has received an order reserved by the National Company Law Tribunal (NCLT) concerning its proposed Scheme of Amalgamation. The decision was reserved for formal pronouncement by the NCLT on August 24, 2026.The scheme involves the amalgamation between Sesa Care Private Limited (the Transferor Company) and Dabur India Limited (the Company or Transferee Company).The company reported that Statutory Authorities have recorded their no-objection regarding the sanctioning of the Scheme.This development follows several prior intimations issued by Dabur India Limited regarding the proposed Scheme of Amalgamation, which falls under Sections 230 to...

AVI Products India Approves Annual Report and Announces 37th AGM Details The Board of Directors of AVI Products India Ltd confirmed the outcomes of its meeting held on August 24, 2026. The board reviewed and sanctioned the necessary documentation related to the company's operations for the financial year 2025-26 and announced key details regarding the 37th Annual General Meeting (AGM).During the board meeting, which commenced at 11:30 A.M. and concluded at 1.00 P.M., the directors considered and approved the Notice of the 37th Annual General Meeting (AGM), the Directors' Report (Board Report), and the Management Discussion and Analysis Report (MDAR). These documents form part of the Annual Report for Financial Year 2025-26.The 37th...

LEAP India Limited's Subsidiary Establishes Wholly Owned Entity for Asset Pooling in UAE LEAP India Limited, through its subsidiary LEAP MENA Holdings Limited (LEAP MENA), has established a new Wholly Owned Subsidiary in Dubai, United Arab Emirates (UAE). The newly formed entity is named LEAP Pallet Pooling Trading L.L.C. and has become a step-down subsidiary of the Indian company, effective August 21, 2026.The incorporation of LEAP Pallet Pooling Trading L.L.C is set to bolster the company's operations in the region. The object of incorporation for the new entity is providing asset pooling and general trading services to clients in the UAE. The company holds a 100% ownership stake in the new venture.LEAP Pallet Pooling Trading...

Pulz Electronics Approves Annual Report and Sets Dates for 21st Annual General Meeting Pulz Electronics Limited confirmed several key corporate decisions following its Board of Directors meeting held on Monday, August 24, 2026. The Board considered and approved the draft of the Board's Report, along with its annexures, and the Annual Report for the financial year ended March 31, 2026. The meeting also finalized the necessary details and timelines for the company's 21st Annual General Meeting (AGM).The 21st AGM is scheduled to take place on Wednesday, September 30, 2026, at 11:30 A.M. (IST). The meeting will be held at Shambhala Farms, Lal Bungalow, Nandora Road, Vevoor Village, next to Shivam Udyog, Palghar East 401404.To ensure...