Markets

Bank Guarantee for Solar PV Project Invoked and Encashed by MSEDCL Against India Power Corporation Limited India Power Corporation Limited (IPCL), a subsidiary related to DPSC Limited, has seen the invocation and encashment of a Bank Guarantee (BG) amounting to INR 6.65 Crore by the Maharashtra State Electricity Distribution Company Limited (MSEDCL). This relates to an earlier awarded solar power project that was subject to ongoing legal proceedings before the Maharashtra Electricity Regulatory Commission (MERC).The BG was furnished in favour of MSEDCL following a Letter of Award dated September 25, 2024, for a 133 MW Solar PV Project. Initially, DPSC Limited provided the guarantee backed by a Fixed Deposit with 100% margin...

Yes Bank BGs totaling Rs 281.44 Crores Invoked by Department of Telecommunications Yes Bank Limited is currently evaluating its course of action following the invocation of Bank Guarantees (BGs) by the Department of Telecommunications (DoT). The BGs, which were issued in favor of DoT, relate to deferred annual spectrum payment obligations.The outstanding Bank Guarantees aggregating to Rs 281.44 crores were issued in 2018 in favour of the DoT on behalf of a borrower who is currently undergoing a corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016. The borrower has been managed by the Resolution Professional since 2018.The Bank's claim for the amount secured by these BGs has already been admitted in...

Filatex Fashions Limited Receives Monetary Fines from NSE and BSEFilatex Fashions Limited has received notices from both National Stock Exchange of India Limited (NSE) and Bombay Stock Exchange (BSE) regarding the imposition of fines related to alleged non-compliance with SEBI Listing Regulations.The exchanges levied the penalties after receiving communication on August 14, 2026, concerning the company's failure to submit its shareholding pattern within the stipulated period. The alleged violation pertains to a delay in relation to requirements for reclassification of the promoter or promoter group entity.The financial impact is limited to the fines imposed by the exchanges. Filatex Fashions Limited is currently examining the...

Juniper Green Energy Secures Letter of Award for 230MW Firm and Dispatchable Renewable Energy Project Juniper Green Energy Limited has received a Letter of Award (LOA) from Solar Energy Corporation of India Limited (SECI). The contract, dated August 14, 2026, pertains to the development of a 230 MW Firm and Dispatchable Renewable Energy Round-the-Clock (FDRE-RTC) Power Project.The LOA awards Juniper Green Energy Limited the opportunity to set up the FDRE RTC project, which will be connected to the Inter-State Transmission System in India. The contract is awarded by a domestic entity and involves the construction, commissioning, and operations of the 230 MW FDRE RTC project.Key terms and details regarding this significant contract...

Ola Electric Mobility Launches Integrated Battery Energy Storage System Portfolio Ola Electric Mobility Limited has announced the launch of its comprehensive Battery Energy Storage System (BESS) product portfolio, comprising three key offerings: Ola Shakti, Shakti Rack, and Mahashakti. The products are designed to meet diverse energy storage requirements across multiple sectors following the company's integrated capabilities in battery cells, battery packs, and energy storage systems.The new portfolio expands the company's energy solutions offering, catering specifically to residential, commercial, industrial, and utility-scale applications. These launches leverage Ola Electric Mobility’s established expertise in high-capacity battery...

Indian Hume Pipe Co. details penalty and disallowance dispute with Income Tax Department The Indian Hume Pipe Company Limited is facing litigation with the Assessment Unit of the Income Tax Department, NAFAC, Delhi, concerning an order passed by the Commissioner of Income Tax (Appeals). The dispute revolves around a penalty and a disallowed claim related to unexplained purchases.According to company details regarding the pending matter, the company received an order dated August 14, 2026, from the Commissioner of Income Tax (Appeals) under Section 250 of the Income Tax Act, 1961. This order confirmed a levy penalty of Rs. 63,10,816/- imposed under section 271AAC(1) of the Income Tax Act, 1961, which was issued in an earlier order...

Dr. Alka Mundra Appointed as Independent Director at Indian Oil Corporation Limited Indian Oil Corporation Limited has appointed Dr. Alka Mundra as an Independent Director of the company, effective August 15, 2026.Dr. Mundra, who is 52 years old, joins the board with a multidisciplinary background spanning Political Science, Law, Public Policy, Governance, and Social Development.Profile of Dr. Alka Mundra The appointment brings together extensive experience in education, social development, public policy, and legal studies. Dr. Mundra holds a Master's Degree in Political Science from the University of Rajasthan, Jaipur. She also possesses an LL.B. degree from Vidyapeeth, Udaipur, and holds a Ph.D. in Political Science from Mohanlal...

Ritco Logistics Achieves Strong Q1 FY27 Performance, Bolstering Operational Resilience Amid Market Headwinds Ritco Logistics Limited delivered a strong performance in the first quarter of fiscal year 2027 (Q1 FY27). The company demonstrated resilience and agility amidst geopolitical uncertainty arising from the Middle East conflict, which continues to impact trade flows and the petrochemical industry.The results underscore Ritco's diversified sectoral presence and operational discipline, allowing the logistics provider to sustain growth despite external challenges in sectors like petrochemicals, where many businesses were operating at reduced capacity.Key Financial Highlights The company reported solid financial metrics across both...

Veedol Corporation Approves Postal Ballot Notice for Material Related Party Transactions Veedol Corporation Limited has announced that its Board of Directors has approved the circulation of a Postal Ballot Notice. The notice pertains to seeking shareholder approval for Material Related Party Transactions involving Standard Grease and Technologies Private Limited.The decision ensures shareholders are informed regarding the material transactions in connection with Standard Grease and Technologies Private Limited before the necessary votes take place.VEEDOL Stock Price Movement On Friday, Veedol Corporation Limited shares edged higher in the close, posting a gain of 0.66% to settle at ₹1512.90. The stock saw steady activity, with...

Sterlite Technologies Wins Dispute Over DoT Demand, Securing Zero Financial Exposure Sterlite Technologies Limited has successfully navigated a dispute with the Department of Telecommunications (DoT), culminating in a favorable Arbitral Award and subsequent judicial confirmation that upheld the company's position regarding an intellectual property demand.The litigation began when the Department of Telecommunications issued a demand notice to Sterlite Technologies Limited on August 24, 2020. The demand was for INR 8.56 Crores and alleged a violation of the terms related to the company’s IP-I Registration.Sterlite Technologies contested the matter and took the dispute before Justice Kailash Gambhir (Retd.), Ld. Sole Arbitrator. On May...

Baazar Style Retail Limited Reaches 277 Stores with New Opening in West BengalBaazar Style Retail Limited, formerly known as Baazar Style Retail Pvt. Ltd., has expanded its retail footprint by opening a new store in Bolpur, West Bengal.The company announced the addition of the latest outlet located at PS Road in Bolpur, solidifying its growth trajectory across various regions.With this expansion, the total number of stores operated by Baazar Style Retail Limited now stands at 277 as of August 15, 2026. The steady addition of outlets underscores the company's continued operational reach and commitment to retail expansion.STYLEBAAZA Stock Price Movement Shares of Baazar Style Retail Limited edged higher on Friday, settling at...

Tilaknagar Industries Limited Approves Grant of 10,65,000 Stock Options Under Employee Scheme 2025 Tilaknagar Industries Limited has approved the grant of stock options to eligible employees under the Employees Stock Option Schemes 2025. The decision was made by the Nomination and Remuneration Committee (NRC) of the Board of Directors on August 15, 2026.The approval grants a total of 10,65,000 employee stock options (ESOPs). These options are granted in compliance with the SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021.Each option, when exercised, is convertible into one equity share of Tilaknagar Industries Limited. The shares have a face value of Rs. 10/- each.The exercise price for the stock options has...

GAIL Senior Management Personnel Shri Lalit Bhatt Relieved Upon Voluntary Retirement GAIL (India) Limited has announced a personnel transition in its senior management team. Shri Lalit Bhatt, who served as ex-ED (BIS), has been relieved from the services of GAIL effective August 14, 2026.Shri Lalit Bhatt is described as Senior Management personnel, holding a position one level below the Board of Directors at GAIL. The transition follows his decision to take voluntary retirement.The change in management status was recorded by GAIL (India) Limited on August 15, 2026.GAIL Stock Price Movement GAIL (India) Limited shares slipped on Friday, settling at ₹174.9 after shedding 0.57% from its previous close. The stock traded a total volume...

Shri Molleti Ganapathi Rao Appointed as Non Official Independent Director at Central Mine Planning & Design Institute Limited Central Mine Planning & Design Institute Limited (CMPDIL), a subsidiary of Coal India Limited, has appointed Shri Molleti Ganapathi Rao as a Non Official Independent Director on its Board. The appointment was made by the Ministry of Coal and comes with an initial term of three years.Shri Rao is set to join the board in his capacity as the Non Official Independent Director, having been selected under the approval of the President of India. This move brings significant expertise in public administration and resource management to CMPDIL.The appointment confirms that Shri Molleti Ganapathi Rao is not related to...

Department of Telecommunications Invokes Bank Guarantees over Deferred Spectrum Payments by Reliance Communications Limited The Department of Telecommunications (DoT), Ministry of Communications, Government of India, has invoked or encashed several Financial Bank Guarantees (FBGs) furnished by various banks on behalf of Reliance Communications Limited (RCOM). These actions relate to the nonpayment and alleged default in deferred annual spectrum installments owed to DoT following various spectrum auctions.The FBGs were issued by various financial institutions supporting RCOM, covering spectrum acquired during multiple auction periods. DoT communicated that the invoked guarantees correspond to unpaid deferred annual spectrum...

AI Valuation Reckoning: Anthropic's IPO Priced on $200 Billion 2028 Revenue Forecast, Not Current Earnings As the market anticipates one of the largest Initial Public Offerings (IPOs) in recent history, Wall Street is undertaking an unprecedented exercise to value the generative AI firm, Anthropic. Instead of focusing on near-term profits, investment bankers and analysts are heavily leaning into long-range revenue projections to establish a price point.Sources familiar with the company's financials indicate that Anthropic is projecting 2028 revenue in the range of $190 billion to $200 billion. This ambitious future figure significantly surpasses the firm’s current operational pace, which was reported as a run rate of $47 billion as...

IPO Rush Intensifies: Five Companies Target Nearly ₹5,500 Crore Next Week as Market Sets Up for Big Debuts India's primary market is poised for another highly active week, with five companies scheduled to launch new Initial Public Offerings (IPOs) between August 17 and August 21. These offerings are set to raise a substantial combined ₹5,499.32 crore. This influx of capital underlines the robust interest in primary market financing across various sectors.The fundraising slate is led by Horizon Industrial Parks, which alone accounts for nearly 47% of the total planned IPO revenue from these five issues. Alongside it stands Lalithaa Jewellery Mart, setting up as the second-largest public issue for the week. The remaining three offerings...

RBI Imposes Penalty on Fusion Finance Limited over KYC Compliance Lapses Fusion Finance Limited has been ordered by the Reserve Bank of India (RBI) following an inspection concerning its Know Your Customer (KYC) practices. The company was issued a monetary penalty after being found non-compliant with requirements related to customer risk categorization reviews.The RBI imposed a monetary penalty totaling ₹2.70 lakh on Fusion Finance Limited. The penalty relates specifically to the failure to adhere to the requirement under RBI KYC Directions, which mandates having in place a system for the periodic review of risk categorization for customer accounts, requiring such reviews to occur at least once every six months.This regulatory...

Entertainment Network Announces 27th Annual General Meeting; Sets September 18 as Record Date Entertainment Network (India) Limited has announced that its 27th Annual General Meeting (AGM) will be held on Friday, September 25, 2026. The meeting is scheduled for 3:00 p.m. IST and will be conducted through Video Conference (VC) or Other Audio-Visual Means (OAVM).The company further announced that it has set Friday, September 18, 2026, as the Record Date. This date is designated for taking note of all members who are eligible to participate in the AGM and to determine the names of members entitled to receive a dividend on equity shares if declared during the meeting.The notice provides detailed information regarding participation...

Dr. Yogesh Attray Appointed as Additional Director at Hindustan Zinc Limited Hindustan Zinc Limited (HZL) has appointed Dr. Yogesh Attray, a distinguished educationalist and social development expert, as an Additional Director and Non-Executive Independent Director of the company. The appointment was formalized following approval by the Board of Directors through a resolution passed on Saturday, August 15, 2026, at 02:40 PM IST.The decision to appoint Dr. Attray comes in accordance with an order issued by the Ministry of Mines, Government of India, dated August 14, 2026. Under this appointment, Dr. Yogesh Attray will serve for a period of three years, commencing from August 14, 2026, or until further orders are received from the...