Markets

LIC OFS Smashes Records: ₹31,552 Crore Mobilized, Public Shareholding Hits Crucial 10% Milestone India's Largest IPO Achieves Monumental Success Through LIC Offer for Sale The Government has successfully mobilized a massive ₹31,552 crore through the Offer for Sale (OFS) of Life Insurance Corporation of India (LIC). This monumental issue saw strong participation across both retail and institutional investor segments.According to a statement from the Department of Investment and Public Asset Management (DIPAM), this successful mobilization means that public ownership in LIC has increased to 10%. Achieving this critical milestone ahead of schedule underlines the significance of the offering.A total of 82,23,33,558 shares were allocated...

PB Fintech Shares Surge as Q1 Profit Soars 92% Amid Market Volatility and Big Sector Deals Markets experienced volatility on Wednesday, ultimately closing on a flat note amid mixed corporate cues. Despite the choppiness in trading, certain companies saw major breakthroughs, setting them apart from the broader market trends. The Nifty remained under corrective pressure for much of the session.PB Fintech Posts Massive Q1 Profit Surge PB Fintech reported an impressive 92% year-on-year (YoY) rise in profit after tax for the June quarter. This strong performance was attributed to solid growth in insurance premium, improved operating revenue, and better margins across the business segments.The Policybazaar parent company posted a...

ENIL Reports 42% EBITDA Growth in Q1FY27 as Digital Business Reaches 30.2% of RevenueMumbai: Entertainment Network (India) Limited (ENIL), operator of Radio Mirchi and audio streaming platform Gaana, announced its audited financial results for the first quarter ended June 30, 2026. The company reported a consolidated EBITDA growth of 42%, reaching ₹8.7 Crores, driven by several strategic cost rationalization measures.For the first quarter of FY27, consolidated revenues stood at ₹11.3 Crores, with domestic revenues amounting to ₹11.1 Crores.The company noted that despite prevailing macro headwinds affecting traditional media segments, the non-digital business improved profitability, reporting an EBITDA growth of 7.4% and a PAT...

JSW Dulux Confronts Tax Scrutiny Over Input Tax Credit Disallowance in GST Case JSW Dulux Limited (formerly Akzo Nobel India Limited) is facing a tax dispute related to the disallowance of Input Tax Credit (ITC) as part of a GST scrutiny initiated by the Delhi GST Department.The Company received a Show Cause Notice under Section 74 of the CGST Act/Rules, 2017 from the Superintendent, Delhi West, detailing the scrutiny regarding ITC for the period spanning April 2020 to March 2024.Financial Implication and Scope of Dispute The GST Department alleges a total liability amounting to Rs. 52,68,358/- in relation to the disallowance of Input Tax Credit. This amount comprises three components:Tax: Rs. 52,22,104/- Interest: Rs. 46,254/-...

Gallantt Ispat Limited Declared Preferred Bidder for Coal Block with 6.5% Revenue ShareGallantt Ispat Limited has been declared the "Preferred Bidder" in a bidding process conducted by The Madhya Pradesh State Mining Corporation Limited (MPSMC) concerning commercial coal mining at a block located in Madhya Pradesh.The company participated in the bid issued by MPSMC for the coal block situated at Dongrital-ll, Bazori, Digwaha, Dongri, Bhaisanbuda, Singrouli in M.P. Gallantt Ispat Limited was officially informed that it has been designated as the Preferred Bidder for the specific coal block.According to communication received from MPSMC on August 04, 2026, the successful bid secured by Gallantt Ispat Limited involves a revenue share...

JSW Dulux Faces GST Scrutiny Over Input Tax Credit for Period April 2020 to March 2021JSW Dulux Limited, formerly Akzo Nobel India Limited, is currently engaged in a dispute with the Karnataka GST Department regarding the disallowance of Input Tax Credit (ITC). The company received a Show Cause Notice under Section 74 of the CGST ACT/Rules, 2017 from the Assistant Commissioner, Bengaluru, Karnataka GST Department.The scrutiny pertains to the ITC for the period spanning April 2020 to March 2021.According to the details provided in the notice, the total financial implication related to this disallowance of Input Tax Credit amounts to Rs. 118,33,32,869/-. This amount is broken down into three components: Tax amounting to Rs...

Marathon Nextgen Realty to Host Meetings of Shareholders and Unsecured Creditors for Amalgamation Scheme Marathon Nextgen Realty Limited is scheduling mandatory meetings for its equity shareholders and unsecured creditors to approve a proposed Composite Scheme of Amalgamation and Arrangement. The initiative involves several companies, as mandated by an order passed by the National Company Law Tribunal (NCLT), Mumbai Bench.The purpose of the forthcoming Meetings is to obtain approval—with or without modification—for the Comprehensive Scheme involving Marathon Nextgen Realty Limited and multiple other entities.The scheme encompasses Matrix Water Management Private Limited (MWMPL), Sanvo Resorts Private Limited (SRPL), Marathon Realty...

Godavari Biorefineries Announces Quarterly Results and Approves AGM Notice Godavari Biorefineries Limited has released its Unaudited Standalone and Consolidated Financial Results for the quarter ending June 30, 2026. The company also approved the notice convening its upcoming Annual General Meeting (AGM).The Board of Directors reviewed and approved the quarterly financial results. Additionally, the Board approved the notice calling the 71st Annual General Meeting (AGM) to be held on September 28, 2026, via Video Conferencing.Consolidated Financial Performance Snapshot Based on the Unaudited Consolidated Statement of Financial Results for the quarter ended June 30, 2026, the company recorded a significant outflow in profits after tax...

Godavari Biorefineries Reports Q1 FY27 Results Amid Operational Expansion and R&D Milestones Mumbai: Godavari Biorefineries Ltd., a leading producer of ethanol and a pioneer in manufacturing bio-based specialty chemicals, announced its financial results for the quarter ended June 30, 2026. The company reported key operational milestones, including the commissioning of new distillery capacity, alongside updates to its innovation pipeline.The Q1 FY27 performance showed consolidated figures across several metrics, with Total Income reaching Rs 559.9 Cr.A detailed look at the financial parameters for Godavari Biorefineries Ltd. is provided below:Particulars (Rs. Cr)Q1 FY27Q1 FY26Q4 FY26FY26Total Income559.9534.0570.02,000.2...

Pearl Global Industries Approves Quarterly Results, Announces Bonus Issue, and Appoints New Director Pearl Global Industries Limited held a Board of Directors meeting on August 05, 2026, where it approved the unaudited financial results for the quarter ended June 30, 2026. The board also considered the proposal for a bonus equity share issue and appointed Major General Sandeep Vohra (Retd.) as an additional director.The company released its un-audited consolidated and standalone financial results, which were reviewed by the Statutory Auditors of the Company through a Limited Review Report.Financial Performance Overview For the quarter ended June 30, 2026, the unaudited financial results showed key figures across both consolidated...

Secur Credentials Limited Announces Key Board Decisions Amid Qualified Audit Opinion Secur Credentials Limited, a publicly traded entity, has reported the outcomes of its recent Board meeting, which included approving annual results and making significant operational changes. However, the company's standalone financial results for the quarter and financial year ended March 31, 2025, received a qualified opinion from JPMD & Associates.The board approved the audited financial results for the Fourth Quarter and Financial Year ending March 31, 2025. The Board also reviewed and endorsed the Director's Report for the Financial Year 2024-25 and considered the Notice for the company’s 24th Annual General Meeting (AGM), which is scheduled to...

Power Grid Corporation Approves Amended Code for Fair Disclosure and TradingBoard of Directors of Power Grid Corporation of India Limited has approved the adoption of the amended 'Code of Practices & Procedures for Fair Disclosure of Unpublished Price Sensitive Information and Conduct for Regulating, Monitoring & Reporting of Trading in Securities' (the Code).The approval was given during a Board meeting held on Wednesday, August 5, 2026. This move relates to the regulation, monitoring, and reporting of trading activities concerning Power Grid Corporation of India Limited securities.The amended Code is now available for reference on the company website at www.powergrid.in.POWERGRID Stock Price Movement Power Grid Corporation of...

GE Vernova T&D India Reports Strong Revenue Growth in First Quarter of FY26-27 New Delhi, Aug 5, 2026: GE Vernova T&D India Limited (NSE:GVT&D) announced its financial results for the first quarter of fiscal year 2026-27, which ended on June 30, 2026. The company reported significant improvements in revenue and profitability across Q1, although order bookings saw a contraction compared to the previous year.The performance metrics show substantial growth in top-line figures while managing internal costs. Revenue for the quarter reached INR 18.4 billion, marking a 38% increase year over year (YoY) from INR 13.3 billion in the corresponding quarter of June 2025.Profitability indicators also showed improvement. EBITDA stood at INR 4.6...

GE Vernova T&D India Reports Q1 Results, Notes Approval, and Calls 70th Annual General Meeting GE Vernova T&D India Limited, formerly known as GE T&D India Limited, has announced the approval of its unaudited standalone financial results for the quarter ended June 30, 2026. The company also issued notice calling its 70th Annual General Meeting (AGM).The Board of Directors approved the Q1 financials and authorized the call for the AGM, which is scheduled to be held on Wednesday, September 9, 2026, through video conferencing or other audio-visual means. The unaudited financial results were reviewed by the Audit Committee and are accompanied by a limited review report from Statutory Auditors, Deloitte Haskins & Sells, Chartered...

CIRP Initiated Against KM Toll Road as Financial Creditor Establishes Default The Corporate Insolvency Resolution Process (CIRP) has been admitted against KM Toll Road Private Limited, a wholly owned subsidiary of Reliance Infrastructure Limited (RIL). The decision follows the establishment of debt and default by the financial creditor, State Bank of India (SBI), in line with the provisions of the insolvency code.The resolution process was initiated after the financial creditor presented evidence demonstrating that the corporate debtor defaulted on its repayment obligations under the consortium lending facilities.Debt and Default Established According to the documentation placed before the Adjudicating Authority, the total debt owed...

Bharat Electronics Limited Sets August 13, 2026 as Record Date for FY 2025-26 Final Dividend Bharat Electronics Limited (BEL) has announced a key date related to its dividend distribution process. The company's Board of Directors has fixed Thursday, August 13, 2026, as the Record Date concerning the payment of the Final Dividend on Equity Shares for the Financial Year 2025-26.This record date pertains to the finalization of the dividend, which will be paid upon its declaration at the company's 72nd Annual General Meeting (AGM).The announcement provides shareholders with the necessary information regarding the process for the Final Dividend of the Financial Year 2025-26.BEL Stock Price Movement Shares of Bharat Electronics Limited...

Industrial Investment Trust Sets August 18 as Record Date for Equity Share Buyback Industrial Investment Trust Limited has determined the record date for its upcoming buyback of fully paid-up equity shares, following approval by its Board of Directors. The company set Tuesday, August 18, 2026, to determine the entitlement and names of equity Shareholders eligible to participate in the buyback process.The decision follows the Board's confirmation of the intent to conduct a buyback of the company's equity shares.The record date is critical for all shareholders who wish to be eligible for participation in the share repurchase scheme. Industrial Investment Trust Limited confirmed that all relevant details regarding the buyback and the...

Tinna Rubber and Infrastructure Limited Infuses Funds into Saudi Arabia Subsidiary for Expansion Tinna Rubber and Infrastructure Limited has proceeded with an investment in its wholly owned subsidiary, Tinna Rubber Arabia Limited, located in Saudi Arabia. This move is part of a broader strategy aimed at business expansion across Saudi Arabia and other Middle Eastern countries.The company plans to infuse funds totaling not exceeding INR 15,00,00,000/- (Rupees Fifteen Crores Only) into the subsidiary through various tranches.In the first tranche of this investment, Tinna Rubber and Infrastructure Limited has invested SAR 3,40,000. This payment was made for the subscription of 50 shares at a price of SAR 6800 per share, which is...

Rajshree Polypack Records Highest Quarterly Revenue at ₹102.91 Crores in Q1 FY27, Posts 76.83% YoY Growth in Profit After Tax Mumbai, August 5, 2026: Rajshree Polypack Limited (NSE- RPPL), a major manufacturer of rigid plastic packaging solutions serving the food, beverage, dairy, and confectionery industries, announced its unaudited financial results for the quarter ended June 30, 2026. The company reported a significant milestone with a quarterly revenue from operations reaching ₹102.91 Crores in Q1 FY27.The consolidated performance demonstrated robust growth across key profitability metrics. For Q1 FY27, Rajshree Polypack recorded an EBITDA of ₹16.52 Crores and Profit After Tax (PAT) at ₹7.25 Crores. These figures represent...

Power Grid Posts Q1 FY26 Results: Total Income Reaches 11,370.04 Crore Standalone; Consolidated Profit Stands at 3,598.42 Crore Power Grid Corporation of India Limited (PGCIL), a Government of India Enterprise, has released its Unaudited Financial Results for the first quarter ended June 30, 2026. The results show movement across both standalone and consolidated entities.Standalone Financial Performance Review For the quarter ended June 30, 2026 (Q1 FY 2026-27), Power Grid's standalone entity reported a Total Income of 11,370.04 Crore. This figure is lower compared to the previous fiscal year's Q1 income of 11,256.88 Crore, but remains above the Q4 FY 2025-26 audited total income (46,995.88 Crore).Key operational indicators for the...