Markets

Great Eastern Shipping Company Declares 4th Interim Dividend of Rs. 11.70 Per Share The Board of Directors of The Great Eastern Shipping Company Limited has announced a 4th interim dividend of Rs. 11.70 per equity share for the financial year 2025-26. The company provided comprehensive details regarding the payment structure, noting the deduction of Income-tax at source (TDS) under the Income-tax Act, 2025.The company confirmed that the dividend will be paid after deducting withholding tax, with the applicable rate varying based on the shareholder’s residential status and the documentation submitted.TDS Implications for Resident Shareholders For resident individual shareholders, the deduction rules are categorized based on the...

Tamilnad Mercantile Bank Receives Rectification Order Reducing Income Tax Demand Tamilnad Mercantile Bank Limited has announced a reduction in a prior Income Tax demand for the Assessment Year (A.Y.) 2013-14. The bank confirmed receiving a Rectification Order from the Office of the Deputy Commissioner of Income Tax, Circle 1, Tirunelveli, significantly adjusting the initially levied tax amount.The order, dated May 14, 2026, revised the demand notice that had originally been issued. The initial demand notice, which was associated with an amount of Rs. 2,04,23,11,454 (Rupees Two Hundred Four Crore Twenty-Three Lakh Eleven Thousand Four Hundred Fifty-Four Only), has been revised and reduced to Rs. 2,93,39,404 (Rupees Two Crore...

Siemens Limited Confirms Central Government Approval for Change in Financial Year Cycle Siemens Limited has confirmed the adoption of a new financial year cycle, following the receipt of an order from the Central Government. The approval sets the company's uniform financial year starting from April 1st, while also formalizing an 18-month transitional period.The central order, dated May 13, 2026, approved the operational changes to the company's financial year cycle.Previously, the Board of Directors had signaled an intention to move toward a uniform financial year cycle. The Central Government’s approval formalizes this shift, establishing two distinct periods: a transitional period and the permanent uniform cycle.The approved...

IRB Infrastructure Trust Offers Two Major BOT Highway Assets to IRB InvIT Fund IRB Infrastructure Trust (Private InvIT) has initiated a preliminary and non-binding offer to transfer two BOT highway assets to IRB InvIT Fund (Public InvIT), thereby enhancing the Public InvIT’s asset portfolio. The offer covers assets with an aggregate Enterprise Value of approximately Rs.4,663 Crs as of March 31, 2026.The Non-Binding Offer (NBO) was approved by the Board of Directors of the Investment Manager of IRB Infrastructure Trust. The two assets proposed for transfer are Solapur Yedeshi NH211 located in Maharashtra, and Chittorgarh Gulabpura NH79 located in Rajasthan. The assets collectively aggregate 1,144 Lane Kms.The assets proposed for the...

Hubtown Limited Announces Q4 and Full Year FY26 Results Hubtown Limited, a prominent Indian real estate developer focusing on premium residential and commercial projects, today announced its results for the fourth quarter and the full year ended March 31, 2026.Speaking on the company’s performance for FY26, Mr. Vyomesh Shah, MD & Co-Founder of Hubtown Limited, noted that while demand faced some moderation due to broader macroeconomic headwinds, the company maintained steady momentum across its luxury and premium residential portfolio in the Mumbai Metropolitan Region (MMR).For the fiscal year, the company reported proforma pre-sales standing at Rs. 4,382 Crore, alongside proforma collections of Rs. 1,910 Crore. The proforma...

Kaynes Technology Announces Financial Results for FY23 and Major Board Appointments Kaynes Technology India Limited announced key corporate governance updates and released its financial results for the quarter and the year ended March 31, 2026. The company's board approved the audited financial results for both standalone and consolidated entities.Financial Performance Highlights The company provided comprehensive financial data covering the quarter and year ended March 31, 2026. Key financial metrics for the Group show significant annual revenue and comprehensive income.Based on the consolidated financial statements, the Group reported the following figures:ParticularsQuarter ended March 31, 2026Year ended March 31, 2026...

Sheela Foam Completes Compensation for Fractional Entitlements Under Scheme of Arrangement Sheela Foam Limited has completed the compensation process for fractional entitlements related to a composite scheme of arrangement involving multiple entities. The distribution of sale proceeds to eligible shareholders was finalized on May 08, 2026, following the sale of fractional shares allotted under the scheme.The composite scheme of arrangement involved Belvedore International Limited, Kanvas Concepts Private Limited, Kurlon Retail Limited, Komfort Universe Products & Services Limited, Starship Value Chain and Manufacturing Private Limited, into Kurlon Enterprise Limited, and subsequently into Sheela Foam Limited. This arrangement received...

Fiberweb Reports ₹ 86.13 Cr Total Income for FY26; Addresses Q4 Challenges Mumbai, May 14, 2026 - Fiberweb (India) Limited, a 100% EOU manufacturer of non-woven fabrics, announced its audited financial results for the fourth quarter (Q4) and the full fiscal year 2026 (FY26).The company reported a Total Income of ₹ 86.13 Cr for FY26, alongside an EBITDA of ₹ 18.82 Cr and a Net Profit (PAT) of ₹ 10.01 Cr for the fiscal year.Key Financial Highlights The financial performance details for the last fiscal year and the fourth quarter are as follows:Particulars (₹ Cr)FY26Q4 FY26Total Income86.1310.33EBITDA18.822.80EBITDA Margin (%)21.85%27.11%Net Profit10.01(1.52)Net Profit Margin (%)11.63%(14.73)%Diluted EPS...

EPL Limited Reports Strong Quarter with 17.6% Revenue Growth in Q4 FY26 EPL Limited, a global leader in packaging, announced its financial results for the fourth quarter (Q4 FY26) and the full fiscal year ended March 31, 2026. The company reported robust performance, achieving the highest revenue growth in the last five years and marking the fourth consecutive quarter of double-digit revenue expansion.For the full fiscal year FY26, EPL Limited reported revenue of ₹ 47,631 mn, representing a 13% increase compared to FY25. The company's EBITDA for the year stood at ₹ 9,724 mn, achieving a margin of 20.4%, which was an improvement of 49 basis points year-over-year. Full-year PAT, excluding exceptional items, grew 15% to ₹ 4,171 mn.Q4...

Lemon Tree Hotels Launches Second Property in Bhubaneswar with 65 Rooms Lemon Tree Hotels Limited, a leading hospitality company, has announced the official opening of Lemon Tree Hotel in Bhubaneswar. The new property marks the group's second hotel in Odisha's capital city, reinforcing its commitment to expanding its footprint in Eastern India.The hotel, strategically located in Bhubaneswar's rapidly developing commercial and residential corridor of Bharatpur, is positioned to serve a diverse clientele including business, leisure, medical, and spiritual travellers. The property offers seamless connectivity, being located approximately 8 km from Biju Patnaik International Airport and 11 km from Bhubaneswar Railway Station. It is also...

Rallis India Board Recommends Rs. 3.00 Per Share Dividend for FY 2025-26 Rallis India Limited announced a dividend recommendation of Rs. 3.00 per Equity Share of Re. 1.00 each, marking a 300% payout for the financial year ended March 31, 2026. The dividend, recommended by the Board of Directors at its meeting on April 27, 2026, is payable for the Financial Year 2025-26.The company confirmed that, in accordance with the Income Tax Act, 2025, dividends are taxable in the hands of shareholders. Consequently, the company will deduct tax at source at the time of dividend payment.Tax Deduction Requirements For the appropriate deduction of tax, shareholders are required to update their records and submit specific tax documents and details...

Shri Samir Kumar Appointed GOI Nominee Director on Indian Bank Board Indian Bank welcomed Shri Samir Kumar as a Government of India (GOI) Nominee Director on its board, effective May 13, 2026. Shri Kumar, who belongs to the Indian Economic Service (1995 batch), brings a deep background of government economic advisory and financial sector experience to the institution.Shri Samir Kumar is currently serving as an Economic Adviser in the Department of Financial Services, Ministry of Finance. In this capacity, he handles critical matters related to Pension Reforms, Debts Recovery Tribunals, General Administration, and the Economic Analysis Cell.His professional history includes serving as Joint Secretary in the Department of Drinking...

Jagran Prakashan Limited's Cases Re-Notified Before NCLT Allahabad Bench Jagran Prakashan Limited (JPL) had its matters before the National Company Law Tribunal (NCLT) Allahabad Bench on May 13, 2026. The proceedings covered two separate cases, with the Tribunal re-notifying both matters for further hearings.In the matter of 'Mahendra Mohan Gupta and Ors. v. Devendra Mohan Gupta and Ors.' (C.P. No. 64 of 2023), the NCLT Allahabad Bench heard arguments advanced by senior counsel representing Respondent Nos. 3, 9, and 10. Following the hearing on May 13, 2026, the Tribunal re-notified the matter for further arguments on June 1, 2026, at 12:00 p.m.Similarly, in the case of "Shailendra Mohan Gupta and Ors. v. Jagran Media Network...

LT Foods Reports Strong Fiscal Year Results: Revenue Reaches INR 11,023 Crores LT Foods, a global Fast-Moving Consumer Goods (FMCG) company in the consumer food space, announced its audited consolidated financial results for the fourth quarter and full year ended March 31, 2026. The company reported significant business resilience, with full-year consolidated revenue crossing INR 11,023 crores, marking a 26% growth over the previous year.Ashwani Arora, Managing Director & CEO of LT Foods, highlighted that the strong performance was underpinned by broad-based momentum across all geographies and business segments. The Basmati and Specialty Rice segment was a major contributor, achieving 29% growth for the year, generating revenue around...

Tata Chemicals Announces 87th AGM Date and Dividend Record Date for FY26 Tata Chemicals Limited has announced the details for its 87th Annual General Meeting (AGM) and specified the record date for the entitlement of dividend for the financial year ended March 31, 2026.The Company confirmed that the 87th Annual General Meeting will be held on Friday, June 26, 2026, through Video Conferencing/Other Audio-Visual Means.The Board of Directors had, during its meeting on Monday, May 4, 2026, recommended a dividend of ₹ 11 per ordinary share of ₹ 10 each. This dividend is subject to final approval by the members of the Company at the ensuing 87th AGM.To determine the entitlement of members to this dividend, the Company has fixed...

Alivus Life Sciences Reports 6.9% YoY Revenue Growth for FY26, EBITDA Margins Hit 33.6% Alivus Life Sciences Limited, a major developer and manufacturer of high-value, non-commoditized Active Pharmaceutical Ingredients (APIs), announced its financial results for the quarter and full year ended March 31, 2026. The company reported robust financial performance, noting a 6.9% year-on-year (YoY) growth in revenue from operations for FY26.For the full fiscal year 2026, Alivus posted revenue from operations of Rs. 25,518 Mn. The quarterly results showed revenue from operations for Q4FY26 stood at Rs. 6,891 Mn, reflecting a 6.1% YoY growth.The company's profitability metrics also showed significant improvement. For FY26, EBITDA was Rs...

Fiberweb (India) Reports Strong Financial Performance and Boosts Capacity in Nonwoven Fabric Sector Fiberweb (India) Limited, a key player in the nonwoven fabric industry, has showcased significant operational capacity and strong financial resilience, highlighting its expanded manufacturing base and diverse product portfolio. The company, which established its operations in 1985 and commenced plant operations in 1996, remains positioned as a leader in producing spun bond nonwoven fabrics in India.The company operates a modern manufacturing facility in Daman spanning 85,000 sq.ft. This facility maintains two key capacities: approximately 5,000 MTPA for Spun Bond and 3,000 MTPA for Melt blown fabrics. The facility is certified with ISO...

Laxmi Goldorna House Limited Reports Fraud Involving Former CFO, Estimate Rs. 85 to 90 Lakhs Loss Laxmi Goldorna House Limited announced that Mr. Jaykumar Patel, the former Chief Financial Officer of the company, has committed fraudulent activities involving the embezzlement and siphoning of corporate funds.The misconduct was discovered over a period of the last one year, which occurred during Mr. Patel’s tenure as CFO of the company.The investigation determined that the fraud involved the siphoning of funds of Laxmi Goldorna House Limited (LGHL). The key details regarding the incident and the company’s immediate response are provided below.ParticularsDetailsNature of fraudEmbezzlement and siphoning of funds of Laxmi Goldorna...

Ministry of Power Appoints Official Nominee Director to SJVN Limited Board SJVN Limited has welcomed Shri Diwakar Nath Misra, an Additional Secretary from the Ministry of Power, Government of India, as a Part-time Official Director and Government of India Nominee on its Board of Directors.The appointment was formalized by the Ministry of Power via its Order No. 15-22/1/2018-HYDEL-II(MoP) dated May 14, 2026. With this appointment, Shri Diwakar Nath Misra (DIN: 07464700) assumes the role, effective immediately.Details confirming the new director's status note that he is neither related to any existing director on the Board nor is he debarred from holding the office of Director by any authority.Director's Profile and Experience Shri...

Sky Gold and Diamonds Limited Confirms Operations Unaffected by Changes to Gold Import Scheme Sky Gold and Diamonds Limited issued a clarification addressing recent changes implemented by the Directorate General of Foreign Trade (DGFT) concerning the Advance Authorisation (AA) scheme for gold imports. The company stated that the revised guidelines do not impact its day-to-day operations, confirming that the business will continue as previously guided.The clarification arose following the DGFT's notification introducing additional compliance and monitoring measures under the AA scheme. These new measures include setting limits on imports under a single license, requiring the issuance of fresh licenses linked to export obligations...