Markets

ITCONS E-Solutions Ltd Bags Contract from Sports Authority of India (SAI) for Manpower Services ITCONS E-Solutions Ltd has secured a new contract from the Sports Authority of India (SAI), which falls under the Department of Sports, Ministry of Youth Affairs and Sports. The contract involves providing 6 resources for a period of one year, marking a significant business milestone for the company.The total contract value awarded by the Government agency is INR 57,02,580, inclusive of all taxes and duties.The contract is set to commence on June 03, 2026, and will remain in force until June 02, 2027, subject to further extension by mutual agreement between the parties.Contract Details The services provided under the contract are...

India Ratings Affirms Kross Ltd's Bank Loan Facilities at 'IND A'/Stable; Assigns Ratings for Additional Limits India Ratings and Research (Ind-Ra) has announced rating actions on Kross Limited's (KL) bank loan facilities, affirming the existing limits and assigning ratings for additional funding capacity.The rating action covers two key instruments. The existing bank loan facilities retain the 'IND A/Stable/IND A1' rating and are affirmed, while the additional limits have been assigned the same rating.Instrument TypeSize of Issue (million)Rating Assigned along with Outlook/WatchRating ActionBank loan facilities (existing limits)INR1,115IND A/Stable/IND A1AffirmedBank loan facilities (additional limits)INR179.5IND...

Man Industries Secures Credit Rating Upgrade from CRISIL Following Acquisition and Performance Improvement Man Industries (India) Ltd announced on June 2, 2026, that CRISIL Ratings Limited upgraded the credit ratings assigned to the bank facilities of the company. The upgrade reflects significant improvements in the company's financial profile and operational standing.The credit ratings for the company's bank facilities are detailed as follows:Rating TypeNew RatingChange StatusLong Term RatingCRISILA+/StableUpgraded from CRISILA/StableShort Term RatingCRISILA1ReaffirmedThe upgrade in the long-term rating is attributed to several key business developments. The improvement reflects, among other factors, the company's...

Vardhman Textiles Allots 1,94,000 Equity Shares Under Employee Stock Option Plan Vardhman Textiles Limited announced the allotment of 1,94,000 equity shares to eligible employees following the exercise of their stock options. The allotment was formalized by the Company’s Committee of Directors during a meeting held on June 02, 2026.The shares are part of the 'Vardhman Textiles Limited Employee Stock Option Plan, 2024.' This significant employee benefits program allows employees to acquire company shares after exercising their stock options.The Company confirmed that the shares allotted to the eligible employees rank pari passu with the existing equity shares of Vardhman Textiles Limited in all respects.The key details of the share...

Jainik Power Cables and Sagar Industries Forge Strategic Alliance for India's Power Infrastructure Sonipat, Haryana | June 2026Jainik Power Cables Limited has announced a strategic business alliance with Sagar Industries, an established leader in India's electrical, power transmission, and distribution sector. This collaboration aims to support the growing demand within the country's power infrastructure sector.Under the long-term business understanding, Sagar Industries intends to source and procure a comprehensive range of aluminium-based products from Jainik Power Cables Limited. These products include Aluminium Conductors, LT Power Cables, Aerial Bunched Cables (ABC), and other allied products, which will be utilized for Sagar...

PDS Recognized as Great Place to Work Across 10 Countries, Reinforcing Global Commitment PDS, the global fashion solutions and infrastructure company, announced its recognition as a Great Place to Work® across 10 countries. This achievement reinforces the group's commitment to fostering a people-first organization.The certification covers a vast geographic spread, including India, Hong Kong, Germany, China, Bangladesh, Vietnam, UK, Turkiye, Sri Lanka, and Pakistan.The recognition is based on direct employee feedback, highlighting the strong engagement and confidence employees have in the organization and its workplace culture. The certification also reported close to 90% employee participation across the surveyed locations.PDS...

Open Offer for Supreme Infrastructure India Limited Faces Uncertainty Despite Regulatory Direction The Open Offer made by the Acquirers and Persons Acting in Concert (PACs) to the public shareholders of Supreme Infrastructure India Limited has encountered operational delays, according to the Manager to the Offer.Initially, authorities directed the Acquirers and PACs to proceed with and complete the Open Offer for the acquisition of 3,09,00,665 equity shares. This acquisition represents 26% of the fully diluted voting share capital of the company.Despite continuous follow-up from the Manager to the Offer, confirmations from the Acquirers and PACs regarding necessary funding arrangements and other key matters required to proceed with...

Acquirers Announce Open Offer for Midland Polymers Limited Stake A consortium of acquirers, comprising Gayathri Boreddy, Jagannath Edla, Radha Krishna Avudari, Mahammad Amaan Shaik, and Ravi Kiran Veeramalla, has announced an open offer for Midland Polymers Limited (MPL). The offer aims to acquire up to 97,50,000 equity shares of the company.The offer, structured to acquire a stake representing 26.00% of the expanded equity and voting share capital of Midland Polymers Limited, was publicly announced across several major Indian dailies, including Financial Express - English Daily, Jansatta - Hindi Daily, Pratahkal - Marathi Daily, and Mega Jyothi - Telugu Daily.Offer Details and Valuation The offer price has been set at Rs. 10/-...

Paras Defence and Space Technologies Secures Order from Bharat Electronics Limited for Electro-Optics Paras Defence and Space Technologies Limited announced that it has secured a significant order from Bharat Electronics Limited. The contract, covering the supply of Electro-Optics, is valued at approximately Rs. 52.82 Cr. (Inclusive of Taxes).The order, which falls under the domestic sector, was received from Bharat Electronics Limited. According to the transaction details, the execution of the contract must be completed on or before September 2027.The key details of the order awarded by Bharat Electronics Limited are summarized below:ParticularsDetailsName of Awarding EntityBharat Electronics LimitedNature of SupplySupply...

Pakka Ltd Approves Allotment of First Tranche of Secured Non-Convertible Debentures Pakka Ltd announced the allotment of the first tranche of unlisted, secured, non-convertible debentures (NCDs) through a private placement. The allotment aggregates up to INR 375 Crores against the total issue size of INR 540 Crores, which had been previously approved by the company's Board of Directors.The details of the allotment were approved by the Fundraising Committee of the Board of Directors of Pakka Limited during a meeting held on June 2, 2026.Allotment Details of NCDs The company allotted the first tranche of non-convertible debentures on a private placement basis, totaling INR 375 Crores. This amount is segmented into two categories of...

Regency Fincorp Allots INR 10 Crores in 15% NCDs via Private Placement Regency Fincorp Ltd announced that its Board of Directors approved the private placement of Non-Convertible Debentures (NCDs). The allotment, which took place on June 2, 2026, involved the issue of INR 10,00,00,000 (Indian Rupees Ten Crores Only) to identified investors.The company issued 1000 (One Thousand) listings, secured, rated, redeemable Non-Convertible Debentures, each having a face value of INR 1,00,000. The sole allottee for this tranche of financing was LC Venture Debt Fund.The NCDs carry a Coupon Rate of 15% and have a total tenor of 19 months. The allotment date was confirmed as June 2, 2026, with the redemption or maturity date set for January 1...

TACC Limited and NUS I-FIM Ink MOU to Advance Next-Generation Advanced Materials Singapore, June 2, 2026: TACC Limited, a subsidiary of HEG Limited, has signed a Memorandum of Understanding (MOU) with the Institute for Functional Intelligent Materials (I-FIM) at the National University of Singapore (NUS). The agreement aims to foster collaboration in advanced materials science, nanotechnology, and related disciplines.The partnership signals a shared industry and academic commitment to accelerating the development, validation, and commercialization of next-generation advanced materials technologies, including graphene and various functional nanomaterials. The MOU establishes a long-term framework, integrating TACC's industrial and...

Meevaa Foods by Zappfresh Launches on Amazon India, Expanding Pan-India Reach Meevaa Foods by Zappfresh, an export-grade frozen food platform, has announced the launch of its products on Amazon India. This strategic move, detailed on June 2, 2026, positions the brand to significantly expand its consumer access and strengthen its presence in India's rapidly growing frozen and ready-to-cook food market.With the launch, Meevaa Foods is now available to consumers across India, broadening access to its entire portfolio of frozen food products. The offering aims to cater to consumers seeking quick, easy-to-prepare meals and convenient snack options without compromising on taste or quality.The product range available through Amazon India...

Bliss GVS Pharma and Axis Bank Announce Financial Updates and Auction Schedule Bliss GVS Pharma Limited reported key financial figures showing comparative revenue and segment revenue across various reporting periods. Separately, Axis Bank announced the schedule and detailed properties for upcoming bank auctions.Bliss GVS Pharma Financial Overview The financial comparison highlights data points for various revenue streams and overall group revenues. Key revenue metrics are presented in the following table:MetricPeriod31.03.202631.12.202531.03.2025Comparison MetricsTotal Revenue (₹ Million) 24,834.3224,293.5126,056.2892,852.28 / 92,097.69Revenue (Basic Drug - CDMO) 726.661,998.16443.965,929.08 / 4,463.01Revenue (Generic...

Vishnu Prakash R Punglia Ltd Attributes Quarterly Loss to Non-Operational and Timing-Related Factors Vishnu Prakash R Punglia Limited reported a loss before tax of approximately ₹151.77 crore during the quarter. Management stated that this loss is primarily attributable to exceptional, non-recurring, and timing-related factors, rather than any deterioration in the company's underlying business fundamentals or long-term operational capabilities.The total loss is explained by four main factors: project termination charges, revenue reversals due to pending departmental approvals, costs arising from delays in payments by government departments, and routine accounting provisions.Key Factors Contributing to Quarterly Loss Management...

Loyal Textile Mills Announces Audited Financial Results for FY 2025-26 Loyal Textile Mills Limited, a company engaged in the manufacturing of yarn, woven fabric, knitted fabric, and technical garments, has announced its audited standalone and consolidated financial results for the quarter and year ended March 31, 2026. The company, which operates manufacturing plants at Kovilpatti, Sattur, and Cuddalore in Tamil Nadu, released the results on May 27, 2026.The company confirmed that the Board of Directors approved the audited financials for the quarter and the year ended March 31, 2026, with the statutory auditors issuing an unmodified opinion with emphasis of matter on the consolidated financial results.Financial Performance Snapshot...

Ishan International Limited Approves Additional Credit Facility and Reappoints Internal Auditors Ishan International Limited announced key decisions following its Board of Directors meeting held on May 20, 2026. The Board considered and approved the re-appointment of its internal auditors and sanctioned an additional credit facility from the Bank of India.The company, which is a Government of India Certified Star Export House and ISO 9001: 2015 certified, confirmed the approvals during the meeting.Internal Audit and Financial Structuring Based on the recommendation of the Audit Committee, the Board approved the re-appointment of M/s. Sunil K. Khanna & Co., Chartered Accountants. The firm will serve as the Internal Auditors for Ishan...

Faalcon Concepts Reports Demise of Secretarial Auditor, M/s Kundan Kumar Mishra & Associates Faalcon Concepts Ltd announced on June 2, 2026, the sudden and untimely demise of M/s Kundan Kumar Mishra & Associates, the company's practicing Company Secretary and Secretarial Auditor.M/s Kundan Kumar Mishra & Associates served as the Secretarial Auditor for Faalcon Concepts Ltd. The company noted that the auditor's invaluable contributions and guidance were instrumental to the organization. The Board of Directors and employees expressed deep condolences regarding the loss.The change in the Secretarial Auditor details are as follows:DetailInformationAuditor NameM/S Kundan Kumar Mishra & AssociatesAddressOffice No. 301, Building...

Mini Diamonds Subsidiary Namra Jewels Launches Franchise Expansion Plan in Lab Grown Jewellery Market Mini Diamonds (India) Ltd., through its wholly owned subsidiary Namra Jewels Private Limited, has announced a franchise expansion plan for its retail presence under the Franchise Owner Franchise Owner (FOFO) model. This move aims to broaden the brand’s reach and strengthen its retail network across India, catering to the increasing demand for lab grown diamond jewellery.The proposed franchise model offers opportunities with a nominal franchise fee of ₹ 5 lakhs. The estimated initial investment required varies based on the city type and commercial factors.City TypeEstimated InvestmentTier 1 CitiesUnder ₹ 2 croreTier 2...

Canarys Automations' Subsidiary Wins US$ 250,000 Contract Order from LinkedIn Corporation Canarys Corp, a wholly owned subsidiary of Canarys Automations Limited, has been awarded a contract by M/s. LinkedIn Corporation. The order focuses on providing specialized technology services related to Power Apps Development.LinkedIn Corporation, which has its registered office at 1000 W Maude Ave, Sunnyvale, CA 94085, engaged Canarys Corp for services covering the design, development, testing, deployment, and maintenance of a Power Platform-based marketing budget planning and management application.The deal is classified as an international contract award, solidifying Canarys Automations Limited's presence in global technology markets.Key...