Markets

<h1>Larsen & Toubro secures ultra-mega gas compression facilities contract in the Middle East</h1>Mumbai, August 24, 2026: Larsen & Toubro (L&T) has secured a significant contract to undertake a gas compression facilities project for a prestigious client in the Middle East. The agreement, formalized against a letter of award issued in FY26, involves the complete engineering, procurement, and construction (EPC) of a large-scale gas compression plant.The project scope encompasses all necessary components for processing sour gas at new onshore installations. These facilities include gas inlet facilities, gas compression systems, condensate and produced water handling systems, propane refrigeration systems, and all associated utilities...

IPO Frenzy Intensifies: Why Selective Demand and Pipeline Fire Up the Primary Market in August India's Initial Public Offering (IPO) market is currently experiencing a significant surge, marking its busiest month in nearly one year. This robust activity is driven by improving overall market sentiment, strong listing performance of recent issues, and a substantial pipeline of companies awaiting their public debut.IPO Activity Surges in August, Breaking Yearly High Inaugurating a period of high momentum, 20 companies successfully raised more than Rs 21,000 crore through IPOs during August so far. This monthly count is the highest recorded in the past year. While August shows strong recovery from a slower first half of the year, July...

IPO Demand Explodes: Gaja Capital’s Rs 550 Crore Offering Subscribed Over 31 Times Amid Strong Institutional Interest The allotment process for Gaja Alternative Asset Management's (Gaja Capital) Rs 550-crore Initial Public Offering (IPO) is set to be finalized today, August 24. The IPO attracted exceptional interest from investors following its subscription phase that concluded on August 21. This strong demand positions the stock for a significant market debut later this month.Subscription Highlights and Investor Demand The offering witnessed substantial traction across all investor categories. Data reported by the National Stock Exchange (NSE) showed the IPO was subscribed 31.33 times. A total of 79,34,89,857 equity shares were bid...

Lords Mark Industries and ARKALL Holdings Partner for Caribbean Healthcare Expansion Lords Mark Industries Limited has entered into a strategic collaboration with Caribbean-based partner ARKALL Holdings Limited to expand its healthcare footprint across the Caribbean region. The partnership aims to establish and operate pathology laboratories and facilitate the commercialization of Lords Mark’s medical devices, equipment, diagnostics, and healthcare portfolio throughout the Caribbean.The collaboration represents Lords Mark’s official entry into the Caribbean healthcare market. The expansion will follow a phased model, beginning in Trinidad & Tobago and gradually extending to other Caribbean markets over the next three years.Key...

Magellanic Cloud's Subsidiary Secures ₹7.91 Crore LOA from Western Railway for Surveillance and Telecom Deployment Magellanic Cloud Limited, a global technology company specializing in digital transformation and e-surveillance, announced that its wholly owned subsidiary, Provigil Surveillance Limited, has secured a significant contract from Western Railway, Ratlam Division. The Letter of Acceptance (LOA) is valued at ₹7,91,60,064.53.The contract encompasses the supply, installation, testing, and commissioning of Telecom Material in connection with deploying an integrated e-surveillance system. This project focuses on 40 or more Manned Non-Interlocked Level Crossing Gates within the Ratlam Division.The scope of work requires the...

Skyways Air IPO Opens: 23% Grey Market Premium Ignites Focus on India's Logistics Surge The Rs 582.8 crore Initial Public Offering (IPO) of Skyways Air Services Ltd. opens for subscription today, August 24, 2026. The issue, which offers a blend of fresh capital and an Offer For Sale (OFS), is expected to capture strong investor interest as it caters to the rapidly expanding Indian logistics sector.The IPO price band has been set at Rs 131–Rs 138 per equity share. The company, a dominant player in air freight forwarding and logistics, aims to utilize the funds to strengthen its financial footing and support ambitious future expansion plans.Currently, the grey market is projecting a strong listing gain. The IPO is commanding a Grey...

Tempsens Instruments IPO Sees Massive 105% GMP as Subscription Crosses 21x Mark The Tempsens Instruments IPO is generating significant pre-listing hype after the stock commands a remarkable Grey Market Premium (GMP) of 105%. The issue, which commenced public bidding on Thursday, August 20, 2026, has seen strong demand leading to its subscription reaching 21.66 times by the end of Day 2.The company is raising a total of Rs 650 crore through the offering. This includes a fresh issue comprising 32 lakh shares worth Rs 95 crore and an Offer for Sale (OFS) valued at Rs 555 crore, involving 1.85 crore shares. The IPO is priced between Rs 285 to Rs 300 per share, with one lot containing 50 shares.Subscription Status Reveals Robust Investor...

Sensex Surges 200 Points as Oil Prices Dip, Rallying Ahead of Iran Sanctions The Indian stock market opened with significant strength on Monday, driven by a drop in oil prices ahead of anticipated fresh US sanctions targeting Iran. This movement provided a substantial tailwind to equity markets across the board.Sensex rose over 200 points, reaching 77,756 after opening. Nifty 50 also extended gains, climbing roughly 50 points to touch 24,301. Broader market indices saw positive movement, with Nifty Midcap 100 and Nifty Smallcap 100 both advancing up to 0.2%.Key Stock Movers and Market Breadth Several blue-chip stocks led the ascent on the Sensex, with shares of Infosys, HDFC Bank, Tata Steel, IndiGo, Maruti Suzuki, and M&M all...

Lalithaa Jewellery Mart IPO: Market Sentiment Surges as GMP Signals Near 37% Premium Ahead of Debut Shares of Lalithaa Jewellery Mart are set to debut on the BSE and NSE, but grey-market indicators suggest a highly bullish start for the retailer. The company's Initial Public Offering (IPO), which sought a massive Rs 1,700 crore, is commanding an impressive 37% premium in the grey market (GMP). This high sentiment reflects strong investor expectation that the stock will list significantly above its issue price.The IPO generated exceptional enthusiasm across all investor segments during its subscription period on August 17 and August 19. The offering was subscribed a resounding 62.97 times, driven primarily by aggressive interest from...

Tyre Cartel Allegations: Agencies Face Massive Penalties as Big Manufacturers are Cleared by Competition Commission The Indian tyre industry has seen a landmark decision from the Competition Commission of India (CCI) regarding alleged cartelization across State Transport Undertakings (STUs). After extensive investigation, the Commission found no evidence of anti-competitive conduct by major manufacturers J. K. Tyre & Industries Limited and CEAT Limited. However, it delivered severe penalties to their respective service providers, holding them liable for bid rigging in a specific procurement tender.The ruling underscores the CCI's commitment to monitoring competitive integrity within critical public supply chains. The case involved...

PNC Media and Entertainment Limited Renames Pritish Nandy Communications Ltd, Effective August 2026The company formerly known as Pritish Nandy Communications Limited has officially changed its name to PNC Media and Entertainment Limited. The name change, which was approved by shareholders and certified by the Registrar of Companies, is effective from August 22, 2026.The transformation marks a key milestone for the entity, which has been incorporated under the Corporate Identification Number (CIN) L22120MH1993PLC074214.The change was formalized following the approval of shareholders through the Postal Ballot e-voting process on August 5, 2026. Subsequently, the Registrar of Companies issued a Fresh Certificate of Incorporation on...

Agri-Tech Startup Prevails as CCI Cracks Down on Dealer Associations for Market Boycott The Competition Commission of India (CCI) has delivered a major verdict against agricultural input associations, ruling that the coordinated boycott campaign targeting online agri-input platforms constitutes anti-competitive conduct. The ruling holds key leaders of agro-dealer organizations liable and orders all parties to cease such practices, affirming the importance of technological innovation in the agriculture sector.CCI Rules Agro-Dealer Bodies Violated Anti-Competitive Norms The Commission found that the Agro Input Dealers Association (AIDA) and the Agro Input Welfare Association (AIWA) violated Section 3(3)(b) of the Competition Act, 2002...

Lenskart Shares in Focus as SoftBank Likely Divests Stake Amid Profit Surge and Margin Expansion Rally Shares of India’s leading eyewear company, Lenskart Solutions, are set to be a key focus ahead of the Monday trading session following reports of a major block deal. Sources indicate that SoftBank Vision Fund (SVF) II Lightbulb Cayman is likely to sell up to a 2.6% stake in the company for approximately $300 million.The proposed floor price for this significant transaction has been set at Rs 635 per share, which reflects a 4% discount against the stock’s previous closing rate of Rs 661.4. Any residual stake sold by the selling shareholder will be subject to a mandatory 45-day lock-up period, according to one report.SoftBank Stake...

Goodluck India Limited announces bonus share allotment and capital restructuring Goodluck India Limited confirmed the allotment of bonus shares following a decision by its Bonus Committee. The company has increased its paid-up Equity Share Capital through the issuance of bonus shares, which are credited to the holders of equity shares as of the record date.The allotment involves 6,64,77,018 equity shares, each having a face value of Rs. 2/-. This bonus issue was completed based on a 2:1 ratio, meaning two bonus equity shares were issued for every one existing equity share held by the shareholders.The capitalization was achieved by utilizing a sum of Rs. 13,29,54,036/- from the balance available in the Securities Premium Account, as...

Hy-Tech Engineers IPO Set to Surge? Grey Market Premium Signals Near 47% Listing Gain on B2B Fittings Specialist Hy-Tech Engineers Limited is set to launch its Initial Public Offering (IPO) today, offering investors a three-day window to bid for the issue. The listing carries significant market buzz due to the prevailing Grey Market Premium (GMP), which currently estimates a potential 47% premium over the IPO's upper price band. This strong pre-listing demand is generating considerable excitement among prospective subscribers.IPO Details and Subscription Window The Rs 135.73 crore IPO consists of two components: a fresh issue of 1.13 crore shares, aggregating to Rs 60 crore, and an Offer for Sale (OFS) comprising 1.43 crore shares...

IHCL and Oriental Hotels Announce Merger Through Scheme of Arrangement On August 24, 2026, The Indian Hotels Company Limited (IHCL), India's largest hospitality company, and Oriental Hotels Limited (OHL) announced that OHL will be merged with IHCL through a Scheme of Arrangement. The merger is subject to statutory approvals and clearances.IHCL Chief Executive Officer and Managing Director, Mr. Puneet Chhatwal, stated that the merger is part of the company's Accelerate 2030 strategy. He noted that the merger is designed to create long-term value by leveraging IHCL's strong balance sheet to support strategic investments, including inventory expansion and product enhancements. This will further strengthen the premium positioning of the...

Mayank Cattle Food Launches MAYANK UDDERSAFE to Boost Dairy Herd Health Mayank Cattle Food Limited has announced the launch of its new product, MAYANK UDDERSAFE, a specialized formula aimed at addressing udder health and improving milk quality in dairy animals. The product was officially introduced on August 24, 2026.MAYANK UDDERSAFE is an advanced udder health protection formula developed to help prevent and manage mastitis in cows and buffaloes. The product is designed for regular use during risk periods, supporting healthy udder function, strengthening natural defense mechanisms, and promoting overall dairy productivity.The launch positions Mayank Cattle Food Limited as a provider of innovative solutions committed to the needs of...

Namra Jewels Offers Flat 15% Discount on Lab-Grown Diamond Jewellery for Rakshabandhan Mini Diamonds (India) Limited, through its subsidiary Namra Jewels Private Limited, has announced a special festive initiative offering customers a flat 15% discount on their range of lab-grown diamond jewellery. The promotional offer is scheduled to run for one week, starting August 24, 2026, coinciding with the occasion of Rakshabandhan.The festive initiative by Namra Jewels is aimed at enhancing accessibility to the category during a significant gifting occasion. The company states that the offer allows customers to explore contemporary jewellery designs and gifting options without substantial increases in their spending.Strengthening consumer...

US FDA Inspection Concludes at Aurobindo Pharma Subsidiary, Four Procedural Observations Noted The United States Food and Drug Administration (US FDA) conducted a routine inspection at Lannett Company LLC, a wholly owned step-down subsidiary of Aurobindo Pharma, located in Seymour, IN, USA. The inspection, which took place from August 17 to August 21, 2026, concluded with the identification of four procedural observations.Aurobindo Pharma Limited confirmed that the inspection at the facility is complete. The observations noted by the US FDA are procedural in nature, and the company is committed to responding to the regulatory body within the stipulated timeline.Lannett Company LLC is a wholly owned subsidiary of Aurobindo Pharma...

Blue Cloud Softech Solutions Commences Execution of USD 150 Million Master Services Agreement with SpaceX International Ltd Blue Cloud Softech Solutions Limited (BSE: 539607 | NSE: BLUECLOUDS), an AI-first technology company, has commenced the delivery of services under a Master Services Agreement (MSA) with SpaceX International Ltd.The engagement, which began on August 24, 2026, under Statement of Work No. 1, carries an aggregate contract value of USD 150 million. This contract covers multiple critical technology domains, including AI Infrastructure, Cybersecurity, Telecommunications, and Data Centre Solutions.The contract breakdown is as follows:Service AreaContract ValueAI InfrastructureUSD 70 millionCybersecurityUSD 25...