Markets

KPI Green Energy Subsidiary Acquiring DMGEL to Expand Renewable Energy Footprint KPI Green Energy Limited's subsidiary, Sun Drops Energia Limited, has approved a significant acquisition of DEK and Mavericks Green Energy Limited (DMGEL). The transaction is aimed at expanding Sun Drops' renewable energy business by leveraging the technical expertise and project execution capabilities of DMGEL.The proposed acquisition targets up to 100% equity shares of DMGEL and has been valued at Rs. 55.80 Crores. In consideration for this purchase, Sun Drops will issue up to 15,89,781 Compulsorily Convertible Preference Shares (CCPS) of equivalent value to the shareholders of DMGEL.Upon achieving acquisition of 50% or more of DMGEL's equity shares...

ICRA Upgrades Vaibhav Global's ESG Rating to 75 (Strong) Vaibhav Global Limited (VGL) has received a rating upgrade from ICRA ESG Ratings, which revised the company's 'Combined ESG Rating' to 75 (Strong), up from the previous rating of 74 (Strong). The rating adjustment follows ICRA ESG's review of VGL's recent developments.The enhancement reflects Vaibhav Global Limited’s ongoing commitment and progress across environmental, social, and governance initiatives. This includes increased focus on sustainability, responsible business practices, robust governance frameworks, and enhanced ESG disclosures.Mr. Aswini Agarwal, Head of supply chain at Vaibhav Global Limited, commented on the recognition, stating that the upgrade reinforces...

Innovision Limited Secures Major Toll Collection and Facility Maintenance Contract from NHAI Innovision Limited has been awarded a significant contract by the National Highways Authority of India (NHAI) for user fee collection and facility maintenance across two designated toll plazas in Uttar Pradesh. The agreement, finalized on August 20, 2026, details Innovision's role as the fee agency for the Etaura Bujurg and Akhtiyari Kotila fee plazas.The contract encompasses the management of the two-lane section with paved shoulder along the Raebareilly-Allahabad Section in Uttar Pradesh. Innovision’s responsibilities under the agreement include managing user fees, maintaining the adjacent toilet blocks, and recouping consumable items...

UltraTech Cement Incorporates Associate Entity in GIFT City to Strengthen Operational Network UltraTech Cement Limited has successfully incorporated a new associate entity, UHG Holdings IFSC Private Limited, which aims to strengthen the company's business and operational network. The incorporation took place in International Financial Services Centres (IFSC) at the Gujarat International Finance Tec-City (GIFT City) on August 20, 2026.UHG Holdings IFSC Private Limited was established as a joint venture involving UltraTech Cement Limited, Hindalco Industries Limited (Promoter Group Company), and Grasim Industries Limited (Promoter Company). The entity is registered in GIFT City to be governed by the International Financial Services...

Gabriel India Limited Executes Agreements for Stake Acquisition in HL Klemove India Private Limited Gabriel India Limited has executed the Joint Venture Agreement and Share Purchase Agreement concerning the acquisition of a stake in HL Klemove India Private Limited. The agreements were formally signed on August 21, 2026.The transaction involves Gabriel India Limited acquiring an equity share in HL Klemove India Private Limited (the Target Company).As per the terms stipulated in the Share Purchase Agreement (SPA), the purchase of shares is scheduled to be consummated on August 24, 2026, or on such alternative date that may be mutually agreed upon by both parties in writing.The acquisition aims to bring the Target Company into a...

KKV Agro Powers Limited Transfers Retail Jewellery Division in Slump Sale KKV Agro Powers Limited has agreed to transfer its 'Cumbum' retail jewellery division as a going concern via a slump sale to The KTM Jewellery Limited, an entity within the promoter and promoter group.The Board of Directors approved the transaction following a meeting held on August 21, 2026. The divisional transfer is subject to shareholder approval and the completion of conditions precedent outlined in the Business Transfer Agreement (BTA) between the Company and The KTM Jewellery Limited.KKV Agro Powers Limited is engaged in the business of trading precious metals and renewable energy. The sale involves transferring the entire retail jewellery division...

Generic Engineering Construction and Projects Limited Reports Non-Approval of Financial Results for Quarter Ended June 30, 2026 Generic Engineering Construction and Projects Limited has reported that its Board of Directors was unable to consider and approve the Un-Audited Standalone and Consolidated Financial Results for the quarter ended June 30, 2026.The Company disclosed this matter following a meeting of the Board of Directors held on August 13, 2026, during which the results were intended for consideration and approval.In response to this development, Generic Engineering Construction and Projects Limited is currently in the process of convening an additional Board Meeting at the earliest opportunity. This subsequent meeting is...

Tube Investments Acquires Stake in Shanthi Gears Limited for Long-Term Investment Tube Investments of India Limited (TII) has acquired a significant stake in Shanthi Gears Limited (SGL), a listed subsidiary, through a block deal. The acquisition was completed on August 21, 2026.The company purchased 20,64,713 equity shares of SGL, each with a face value of Re. 1. This transaction represented 2.69% of the paid-up share capital of Shanthi Gears Limited (SGL). The entire consideration for the acquisition was in cash, and the total cost of acquisition was approximately Rs. 77.49 Cr.The block deal, executed through the Stock Exchange, marks a strategic move by TII as part of its long-term investment plans. Following the acquisition, Tube...

Shakti Press Ltd Holds AGM, Ratifies Related Party Transactions and Re-appoints Director<p>The 33rd Annual General Meeting (AGM) of Shakti Press Limited, a company dealing in multicolor offset printers, packagers, and stationers, was successfully conducted on Friday, August 21, 2026. The AGM, held virtually via Video Conferencing (VC) / Other Audio Visual Means (OAVM), saw the passage of several key resolutions related to financial statements, director re-appointment, and the ratification of transactions with associated parties.</p><p>The meeting proceedings involved all statutory and secretarial audits being taken as read. After a session dedicated to addressing queries from registered speaker shareholders and members, the...

Titagarh Rail Systems Inaugurates Design and Operations Centre in West BengalKolkata: Titagarh Rail Systems Limited (TRSL) inaugurated its new Design and Operations Centre at its Passenger Rail Systems (PRS) facility in Uttarpara, West Bengal. The event marked a significant advancement in the company’s journey to bolster its internal design, engineering, and operational capabilities for passenger rail systems.The centre is positioned as a hub for advanced engineering, design-led innovation, and technology development, supporting TRSL's expanding portfolio across passenger rail systems. The inauguration underscores Titagarh's dedication to cultivating world-class rail manufacturing capacity in India originating from Bengal, thereby...

ICICI Bank Completes USD 750 Million Senior Unsecured Fixed Rate Note Issuance ICICI Bank Limited has completed the issuance of USD 750 million in Senior Unsecured Fixed Rate Notes as part of its larger funding strategy. This successful issuance falls under the framework of the bank's USD 7.5 billion Global Medium Term Note Programme.The notes, which were issued by ICICI Bank through its IFSC Banking Unit, secured ratings from major international agencies. The security received a BBB rating from S&P Global Ratings and a Baa3 rating from Moody's Ratings.These newly issued notes are slated for listing across multiple global markets. They will be listed on the Global Securities Market of the India International Exchange IFSC Limited...

Godavari Biorefineries Faces GST Demand Notice Over ENA Supply Godavari Biorerefineries Limited has received a Show Cause Notice from the Assistant Commissioner of Central GST, Audit, Belgavi, Karnataka, concerning the non-payment of Goods and Services Tax (GST) on the supply of Ethanol (ENA).The notice pertains to the period spanning 2021-22 through October 2024. The dispute arose because the company supplied ENA to the Karnataka State Beverages Corporation Ltd. (KSBCL), intended for further manufacture of Alcoholic liquor fit for human consumption, without remitting GST as required under Section 74(1) of the CGST/SGST Act, 2017. The investigation noted that Godavari Biorefineries had listed the supply as an 'exempted supply' in its...

Glenmark Pharmaceuticals US launches Calcium Gluconate Injection USP; Product Bioequivalent to Reference Drug Glenmark Pharmaceuticals Inc., USA has announced the launch of several variants of its Calcium Gluconate Injection USP. The products include Single-Dose Vials (1,000 mg/10 mL and 5,000 mg/50 mL) and a Pharmacy Bulk Package (10,000 mg/100 mL).The newly launched Glenmark's Calcium Gluconate Injection USP is noted as being bioequivalent and therapeutically equivalent to the reference listed drug, which is manufactured by Fresenius Kabi USA, LLC. The reference product has established designations of 1,000 mg/10 mL (100 mg/mL), 5,000 mg/50 mL (100 mg/mL), and 10,000 mg/100 mL (100 mg/mL) [NDA 208418].According to IQVIA sales data...

Colgate Palmolive Announces Leadership Changes: Prabha Narasimhan Resigns from CEO Role; Manish Anandani Appointed Managing Director Colgate Palmolive (India) Limited has announced a significant change in its top leadership structure, following the Board of Directors' meeting held on August 21, 2026. The company confirmed the resignation of Ms. Prabha Narasimhan from her role as Managing Director and Chief Executive Officer (CEO). Concurrently, Mr. Manish Anandani has been appointed as the new Managing Director and CEO, effective September 28, 2026.Ms. Narasimhan's departure is due to a career progression, having received a promotion within Colgate-Palmolive. She will transition into the role of Executive Vice President Marketing for...

Indo Borax and Chemicals Launches Open Offer for Kronox Lab Sciences Following Share Purchase Agreement A public announcement has been made regarding an open offer in Kronox Lab Sciences Limited (KRONOX) by Indo Borax & Chemicals Limited, along with Zenrock Chemicals Private Limited. The move comes as a result of the execution of a Share Purchase Agreement (SPA).Indo Borax & Chemicals Limited, acting alongside Zenrock Chemicals Private Limited (the Person Acting in Concert or PAC), is offering to acquire equity shares of Kronox Lab Sciences Limited from the public shareholders. This mandatory offer is linked to the acquisition of a substantial stake by Indo Borax and Chemicals Limited from specific sellers.Open Offer Details The...

Ramco Systems Limited Approves Employee Stock Option Scheme 2026 in Shareholder Meeting Ramco Systems Limited has approved the formulation of its Employee Stock Option Scheme 2026 (ESOS 2026). The scheme was sanctioned by shareholders during the company's 29th Annual General Meeting held on August 20, 2026.The ESOS 2026 is designed to reward employees for their performance and association with the company while attracting high-quality talent to ensure long-term retention and foster a sense of belongingness among staff. The scheme involves granting options convertible into 15,00,000 equity shares of Rs. 10 each.Scheme Details and Participants Under the ESOS 2026, eligible employees, directors, and employees of Group Companies may be...

Nazara Technologies Completes Equity Share Allotment from Funky Monkeys Play Centre; Holding Rises to 64% Nazara Technologies Limited has increased its shareholding in Funky Monkeys Play Centre Private Limited following a significant allotment of equity shares from the subsidiary. The transaction confirms and solidifies Nazara’s stake in the company, bringing its ownership level up to 64.00%.The details of the allotment, based on correspondence dated August 21, 2026, state that 1,87,586 Equity Shares of Funky Monkeys were allotted to Nazara Technologies Limited. These shares carried a face value of ₹ 10/- each and represented 4.00% of the total equity share capital of Funky Monkeys.Nazara Technologies paid a primary subscription...

Lenskart Solutions Reports Cyber Incident Involving Singapore Group Company Sub-Vendor Lenskart Solutions Limited has confirmed a cyber incident involving one of its group companies operating in Singapore. The issue arose due to a sub-vendor and while it was promptly addressed, the company maintained that there was no disruption to Lenskart, its operational stability, or its customers.The cyber incident affected the business operations of the designated Group Company in Singapore. Upon discovery, the situation was immediately managed by Lenskart Solutions Limited. The company confirmed that the issue was quickly identified and successfully remediated following the occurrence.Lenskart Solutions also confirmed that the Group Company...

Titagarh Rail Systems Inaugurates New Design and Operations Centre in Uttarpara, Strengthening Manufacturing Capabilities Titagarh Rail Systems Limited (TRSL) inaugurated its new Design & Operations Centre at its Passenger Rail Systems (PRS) facility in Uttarpara, West Bengal. The event reinforced the company's focus on enhancing its in-house design, engineering, and operational capabilities within India.The inauguration ceremony was attended by Shri Tapas Roy, Hon’ble Minister of Industry & Commerce for Government of West Bengal, and Shri Arjun Singh, Hon’ble Minister of Labour & Transport for the Government of West Bengal.This facility is set to serve as a central hub for advanced engineering, design-led innovation, and technology...

Power Grid Corporation Wins Bid for Inter-State Transmission System in Gujarat Power Grid Corporation of India Limited has been named the successful bidder in a Tariff Based Competitive Bidding (TBCB) process. The company secured the contract to establish an Inter-State Transmission System crucial for integrating renewable energy projects within Gujarat.The project, titled 'Transmission system for Integration of Power from RE Projects in Jam Khambhaliya REZ in Gujarat - Phase II (5500MW) and Jamnagar Phase-I (1000 MW),' was awarded on a Build, Own, Operate and Transfer (BOOT) basis. Power Grid received the Letter of Intent (LoI) for the project on August 21, 2026, with a discovered tariff set at Rs. 822.91 crore per annum.The scope...