Markets

Sattva Engineering Construction Limited Issues Corrected Audit Report for FY2026 Results Sattva Engineering Construction Limited (formerly known as Sattva Engineering Construction Private Limited) announced a correction to its Statutory Auditor's Report concerning the audited financial results for the year ended March 31, 2026. The Company confirmed that the error was purely clerical, clarifying that the name was inadvertently mentioned as 'Sattva Engineering and Consultants Limited' instead of the correct name, 'Sattva Engineering Construction Limited.'The Company issued the corrected Independent Audit Report, affirming that the correction is typographical in nature. Management clarified that there are no changes in the audited...

Prozone Realty Gains Approval for Disinvestment and Hiving Off Assets of Subsidiaries Prozone Realty Limited announced that its shareholders approved a special resolution for the disinvestment and sale of stakes held in its material subsidiaries, along with the hiving off of identified assets from selected subsidiaries. The resolution was approved by the members of the Company through a Postal Ballot, held via remote e-voting, following the Scrutinizer's Report dated June 1, 2026.The approved resolution empowers the Company to consider and approve the proposal for disinvestment/sale of stakes and hiving off of identified assets of its subsidiaries.Details of Disinvestment and Sale Transactions The company provided comprehensive...

NHC Foods Ltd. Approves £18 Million Investment in Wholly Owned UK Subsidiary using FCCB Proceeds NHC Foods Ltd. has approved a significant investment of USD 24,295,000 in its wholly owned foreign subsidiary, NHC FOODS UK LIMITED. The investment is slated for the utilization of proceeds generated from Foreign Currency Convertible Bonds (FCCBs).The decision, made by the Company’s Board of Directors, outlines a strategic move to bolster its UK operations using the capital raised through the FCCBs, as detailed in the company's offering circular dated May 27, 2026.Through this investment, NHC Foods Ltd. will receive 18,043,000 new Ordinary shares of £1.00 each from NHC FOODS UK LIMITED.The investment is directed toward NHC...

Mangalam Global Enterprise to Open Five New NEAT EVERYDAY Retail Stores in Ahmedabad Mangalam Global Enterprise Limited announced a significant expansion in its retail network, confirming the opening of five new physical stores under its specialized wellness brand, "NEAT EVERYDAY." The new outlets are slated to open in Ahmedabad, Gujarat, on June 04, 2026, supplementing the Company’s existing store presence.The launch of these "NEAT EVERYDAY" stores marks a major milestone in the Company’s overall expansion strategy within its wellness and beauty division.The newly established locations will serve as hubs offering a curated selection of products. The offerings span nutraceuticals, wellness goods, beauty items, and personal care...

Shashank Traders Announces Financial Results for FY2026, Approves New Leadership Appointments Shashank Traders Ltd announced its standalone audited financial results for the quarter and full financial year ended March 31, 2026. The company also announced significant changes in its management, including multiple executive resignations and the appointment of new key managerial personnel (KMP) and directors.The Board of Directors of Shashank Traders Ltd met on May 30, 2026, to take record of the audited financial results and approve operational and governance changes.Financial Performance Summary The company released the standalone audited financial results, providing comparative figures for the quarter and year ended March 31, 2026...

Indo Count Industries Ltd. Adjusts Operational Timeline for Kolhapur Capacity Addition Indo Count Industries Ltd. announced a correction regarding the commissioning timeline for its capacity addition project. The update relates to the company's spinning facility located at Alte, Kolhapur, Maharashtra.The company issued a corrigendum following an earlier intimation concerning the expansion project. This correction addresses an inadvertent clerical error related to the expected operational timeline.The initial announcement had specified that the facility would become operational by Q2 of FY 2027. The corrigendum officially changes this expected date. The revised timeline for the project becoming commissioned is now stated as 'by Q2 of...

Kirloskar Oil Engines Faces Tax Demand from Pune Deputy Commissioner Over ITC Mismatch Kirloskar Oil Engines Limited has received a Show Cause Notice concerning a tax demand related to Input Tax Credit (ITC) mismatch for the Financial Year (FY) 2022-23. The order was issued by the Deputy Commissioner of State Tax in Pune, Maharashtra, and was received by the company on June 1, 2026.The notice centers on the alleged ITC Mismatch for the financial year 2022-23, leading the Pune authority to impose a demand for tax, interest, and penalty.The total financial liability detailed in the order includes the following components:ComponentAmount DemandedTaxRs. 3,18,52,849/-InterestRs. 2,31,38,259/-PenaltyRs. 31,85,286/-...

Emami Limited Completes Acquisition, Establishes Subsidiary Status with IncNut Digital Private Limited Emami Limited announced today, June 1, 2026, the successful acquisition of a significant stake in IncNut Digital Private Limited, thereby making IncNut a subsidiary of the company.The acquisition involved Emami Limited acquiring 2,05,767 equity shares, which represents a 59.69% stake in IncNut Digital Private Limited.The company confirmed that the remaining stake acquisition of IncNut will be finalized according to the terms stipulated in the Share Subscription and Purchase Agreement. The remaining stake amounts to 0.31%, totaling 1,064 equity shares.For quick reference, the details of the completed acquisition are summarized...

Balmer Lawrie Hit With Fine for Quarterly Governance Non-Compliance Balmer Lawrie & Company Limited received a fine from the National Stock Exchange of India Limited (NSE) totaling Rs.7,50,480/- (inclusive of GST) for non-compliance concerning corporate governance during the quarter ended March 31, 2026. The fine was notified on June 1, 2026.The NSE Limited imposed the penalty for non-compliance with key Listing Regulations. The violations cited were related to maintaining adequate board composition and committee structure.According to the details of the penalty, the company committed the following breaches during the relevant periods:Violation DetailPeriod of Non-ComplianceStatus of Non-ComplianceAbsence of Independent...

Acme Solar Holdings Announces Qualified Placement of Equity Shares Acme Solar Holdings Limited confirmed the approval for the placement of equity shares to qualified institutions. The fund raising initiative, aimed at raising capital, was approved following a meeting of the Company’s Fund Raising Committee held on June 01, 2026.The decision was made subsequent to approvals accorded by the Board of Directors at their meeting on August 27, 2025, and through a special resolution passed by the members on September 29, 2025.The Fund Raising Committee approved the key aspects of the capital raise, including the opening of the Issue on June 01, 2026, and the adoption of the preliminary placement document and application form for the...

Indian Bank Revises Key Lending and Benchmark Rates, Effective June 3, 2026 Indian Bank announced revisions to several key lending and benchmark rates following a review by its Asset Liability Management Committee (ALCO). The revised rates for Marginal Cost of funds based Lending Rate (MCLR) and Treasury Bills Linked Lending Rate (TBLR) are set to take effect from June 3, 2026.The bank provided detailed schedules of the updated rates for MCLR and TBLR.MCLR Revision Details The MCLR rates show revisions across several tenors. The updated figures are as follows:TenorExisting Rate (%)Revised Rate (%)Overnight7.90%7.90%1 month8.20%8.20%3 months8.40%8.50%6 months8.65%8.75%1 Year8.75%8.85%TBLR Revision Details...

Ministry of Power Initiates Offer for Sale of NHPC Limited Equity Shares The President of India, acting through the Ministry of Power, Government of India, has proposed an Offer for Sale of equity shares of NHPC Limited. The sale will be executed through the stock exchange mechanism involving both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).The total potential offer comprises shares from the Base Offer Size and an Oversubscription Option. The Base Offer Size constitutes 3.00% of the paid-up equity, equivalent to 30,13,51,044 equity shares, each having a face value of ₹ 10.In addition, the total available shares under the Oversubscription Option is up to 30,13,51,044 equity shares, which, if exercised, would...

Force Motors Reports May 2026 Sales Data for Domestic and Export Units Force Motors Ltd has reported its sales data for the month of May 2026, detailing performance across domestic and export markets. The company reported sales units for Small Commercial Vehicles (SCV), Light Commercial Vehicles (LCV), Utility Vehicles (UV), and Sports Utility Vehicles (SUV) for the period.Domestic Sales Performance Domestic sales data showed a decrease in units sold compared to the previous year.CategoryMay 2026 (Units)May 2025 (Units)Percent ChangeSCV, LCV, UV, SUV2,5603,002(-14.72%)Export Sales Performance In the export segment, sales of SCV, LCV, UV, and SUV units also saw a significant decrease year over year.CategoryMay 2026...

Urban Company Limited Confirms Cancellation of Commercial Registration for Saudi Arabia Subsidiary Urban Company Limited has reported a significant operational update regarding its Saudi Arabian subsidiary, Urban Company Arabia for Information Technologies, Kingdom of Saudi Arabia (UC KSA). The company confirmed that its commercial registration for the subsidiary has been cancelled, effective May 24, 2026.The cancellation of the commercial registration came via an intimation received from the Ministry of Commerce, Kingdom of Saudi Arabia.The procedural dissolution and winding up process for UC KSA will continue in the subsequent steps and shall be completed in due course. As a result of the cancellation, UC KSA ceases to be a...

Zee Entertainment Wins Rights to Broadcast 39 FIFA Competitions in India (2026-2034) Zee Entertainment Enterprises Limited (Zee) has been awarded the comprehensive rights to broadcast, stream, and distribute a wide portfolio of 39 major FIFA competitions across India spanning from 2026 through 2034. The deal, awarded by the Fédération Internationale de Football Association (FIFA), covers a significant period of global football events.The agreement confirms Zee's mandate to deliver coverage across both its linear television channel, UNITE8 Sports, and its digital platform, Zee 5. This multi-faceted coverage will include multi-languages broadcasts for 39 FIFA events.Scope and Duration of Rights The contract details an extensive...

Invicta Diagnostic's Subsidiary Establishes New Step-Down Entity for Diagnostics Expansion Invicta Diagnostic Limited has announced a corporate expansion through the incorporation of a new subsidiary entity. Porteus Medical LLP, which is a subsidiary of the Company, established a Limited Liability Partnership (LLP) named Porteus Pathogenius LLP, resulting in the new entity becoming a Step-Down Subsidiary of Invicta Diagnostic Limited.The newly incorporated entity, Porteus Pathogenius LLP, is set to focus on the healthcare and diagnostics sector. Its objectives include undertaking the business of diagnostics, pathology, and laboratory services, with the goal of expanding the group's overall business operations. The LLP was incorporated...

Adani Energy Solutions Incorporates Seven Wholly Owned Subsidiaries in Electric Utilities Sector Adani Energy Solutions Limited announced the incorporation of seven new wholly owned subsidiaries, effectively expanding its reach within the electric utilities sector. The seven entities are Sunrays Step I Limited (SIL), Sunrays Step II Limited (SIIL), Sunrays Step III Limited (SIIIL), Arasan Step I Limited (ASIL), Arasan Step II Limited (ASIIL), Arasan Step III Limited (ASIIIL), and Arasan Step IV Limited (ASIVL).All subsidiaries were incorporated in India on June 1, 2026. Adani Energy Solutions Limited serves as the holding company for these new ventures.The core business activity of the newly formed subsidiaries is centered around...

ACME Solar Holdings Commissions Additional Battery Energy Storage System Capacity in Rajasthan ACME Solar Holdings Limited announced the commissioning of additional capacity for its Battery Energy Storage System (BESS) project in Rajasthan. The commissioning was achieved through the subsidiary, ACME Sun Power Private Limited.The new BESS project, located at Village: Badi Sid, Tehsil-Bap, Dist: Phalodi and Jodhpur, Rajasthan, was commissioned by ACME Solar Holdings Limited's wholly owned subsidiary on June 01, 2026. The project addition brings 33.333 MW and 160.512 MWh of storage capacity.While the commissioning occurred on June 01, 2026, the commercial operation date (COD) for this newly added capacity is set for June 03, 2026...

VIP Industries Limited Discontinues Sales of 'CARLTON' Brand Inventory Following Supreme Court Directions VIP Industries Limited announced that it has stopped and discontinued the sale of products under the 'CARLTON' brand, effective June 1, 2026. This action is in compliance with the directions received from the Supreme Court of India.The company's operational update stems from the Supreme Court of India's order, which was passed on August 1, 2025. This order addressed the special leave petition filed by the company against an earlier order from the Delhi High Court. Under the Supreme Court's allowance, VIP Industries was permitted to deal with the inventory of products under the 'CARLTON' mark, subject to specific terms. The Court...

NHPC Limited to Undertake Offer for Sale of Equity Shares by Ministry of Power The Ministry of Power, Government of India, has proposed an Offer for Sale (OFS) of a stake in NHPC Limited through the stock exchange mechanism. The sale is being conducted by the President of India, acting through the Ministry of Power, as the promoter of the company.The initial base offer proposes the sale of 3.00% of the Company's paid-up equity, equivalent to 30,13,51,044 equity shares of face value of ₹10 each.Offer Size and Structure The Offer details a primary Base Offer Size, along with two potential additional tranches:1. Oversubscription Option (Green Shoe): The seller has the option to sell up to 30,13,51,044 equity shares, which, if...