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IIFL Finance Faces Tax Demand of Rs.475.56 Crore from IT Authority for Period 2018-2025 IIFL Finance Limited has reported receiving a tax demand notice from the Income Tax Authority, covering the block period from April 01, 2018, to February 03, 2025. The demand, which amounts to Rs.4,75,56,46,790/-, was raised vide assessment orders dated May 12, 2026, under Section 158BC(1)(c) of the Income Tax Act, 1961.In the assessment orders received by the company on May 12, 2026, the Joint Commissioner of Income tax (OSD), Central Circle - 4(4), Mumbai (the IT Authority), raised the tax demand.The key financial details regarding the tax assessment are as follows:ParticularDetailsIssuing AuthorityJoint Commissioner of Income tax (OSD)...

Tata Motors Establishes Associate in Power Sector with Teesta Renewable Energy Private Limited Tata Motors Limited, formerly TML Commercial Vehicles Limited, has established a Special Purpose Vehicle (SPV) focused on the renewable energy sector. The company announced the incorporation of Teesta Renewable Energy Private Limited (TREPL) on May 12, 2026.With this development, TREPL has become an associate of Tata Motors. The company currently holds a 26% equity shareholding in the newly incorporated entity.TREPL operates within the Power Sector and is dedicated to power generation. Its core business includes solar and wind power generation, captive generation, and the sale of electrical energy. The holding company for TREPL is Welspun...

Thomas Cook (India) Limited Approves FY 2026 Results and Recommends Dividend Amid Amalgamation Plan Thomas Cook (India) Limited announced the approval of its audited financial results for the year ended March 31, 2026, along with a recommendation of a dividend for the fiscal year 2025-26. The Board meeting also approved a Composite Scheme of Arrangement and Amalgamation involving the company and its wholly owned subsidiaries.The Board recommended a total dividend of Rs.0.50 (Rupees Fifty paise only) per Equity Share of Re.1/- each. This payout remains subject to the approval of the shareholders at the ensuing Annual General Meeting.Financial Performance Highlights The company released detailed audited financial results for both...

STL Networks Limited Reports Update on Litigation with Bharat Sanchar Nigam Limited STL Networks Limited provided an update regarding ongoing legal proceedings involving Bharat Sanchar Nigam Limited (BSNL). The company reported that a petition filed against BSNL before the Hon'ble High Court of Delhi has been dismissed.The legal proceedings commenced when the Company filed a petition under Section 34 of the Arbitration and Conciliation Act, 1996, with the Delhi High Court. This action was taken concerning the setting aside of an arbitral award dated May 09, 2023.According to the latest update, the petition has been dismissed by the court. The company stated that there is no financial impact on STL Networks Limited resulting from...

Voltas Limited Penalized ₹ 20.07 Lakhs by Gujarat Tax Authority Over E-Way Bill Declaration Voltas Limited has received an order from the Office of the Deputy Commissioner of State Tax, Enforcement, Division-7, Surat, Gujarat, levying a penalty of ₹ 20.07 Lakhs for incorrect declaration of vehicle type in an E-Way Bill.The penalty order was issued on May 12, 2026. The levy was passed under Section 129(1)(a) of the Gujarat Goods and Services Tax Act, 2017, read with relevant provisions of the Central Goods and Services Tax Act, 2017, the Integrated Goods and Services Tax Act, 2017, and the Goods and Services (Compensation To States) Act, 2017.The company confirmed that it is currently in the process of filing an appeal against the...

Union Bank of India Increases Stake in Joint Venture ASREC (I) Ltd Union Bank of India has significantly increased its investment stake in ASREC (I) Ltd., which operates as a joint venture company of the Bank. The institution announced an additional investment totaling ₹ 22.64 Crores in the company.The strategic investment by Union Bank of India has led to a notable rise in the Bank's shareholding percentage in ASREC (I) Ltd.The details of the shareholding change are as follows:MetricPrevious ShareholdingNew ShareholdingBank's Stake in ASREC (I) Ltd.26.02%27.30%The infusion of the additional ₹ 22.64 Crores positions Union Bank of India with a strengthened stake in ASREC (I) Ltd., further solidifying its role in the joint...

MTAR Technologies Reports Strong Q4 FY26 Results Driven by Record Order Inflows and Aerospace Expansion Mtar Technologies Limited announced strong operational achievements, headlined by record order inflows in the financial year 2026 and significant diversification of its order book. The company also highlighted substantial growth in its aerospace and oil & gas sectors, underpinned by key financial performance metrics for Q4 FY26.Order Book and Operational Growth The company recorded its highest order inflows of Rs. 2453.3 Crs in FY 26. Furthermore, MTAR secured orders worth Rs. 481.6 Crs across various sectors during Q4 FY26.As of March 31, 2026, the company maintains a diversified order book totaling Rs. 2581.9 Crs.Aerospace and...

SKF India (Industrial) Limited Approves Rs 10 Dividend Per Share; Releases FY 2026 Financial Results SKF India (Industrial) Limited announced that its Board of Directors approved the final dividend and took on record the annual and quarterly financial results for the financial year ended March 31, 2026. The Board meeting was held on May 12, 2026.The Company confirmed that the Statutory Auditors, M/s. Deloitte Haskins & Sellis LLP, issued a Limited Review Report and Audit Reports with unmodified opinion on the Unaudited Financial Results for the fourth quarter and the Financial Results for the financial year ended March 31, 2026.Dividend Recommendation The Board of Directors recommended a final dividend of Rs. 10/- per equity share...

Maxvolt Energy Focuses on Circular Economy, Expands Recycling Capabilities for Lithium Battery Growth Maxvolt Energy Industries Limited is strengthening its position in the electric mobility and energy storage sectors by emphasizing a comprehensive, circular economy model for lithium-ion batteries. The company, which specializes in manufacturing high-quality lithium-ion battery packs, is expanding its manufacturing footprint and advancing its recycling capabilities to support India's transition to sustainable energy.The company's core vision is to establish India's most trusted and sustainable lithium ecosystem, ensuring every battery manufactured is utilized to its fullest potential, responsibly repurposed at the end of its life, and...

Dr. Reddy's Laboratories Releases Audio Recording of Q4 2026 Earnings Call Dr. Reddy's Laboratories Limited made available the audio recording of its recent Earnings Call. The call was held on May 12, 2026, covering the financial results for the quarter ended March 31, 2026.The company provided the link to the audio recording, allowing stakeholders access to the detailed proceedings of the call. This record pertains specifically to the financial performance and operational highlights for the quarter concluded on March 31, 2026.DRREDDY Stock Price Movement Shares of Dr. Reddy's Laboratories Limited shed 0.97% on Tuesday, settling at ₹1270.00. The stock saw significant trading activity, moving on a total volume of 1.95 million shares.

Thomas Cook India Reports 3% Total Income Growth for FY26 Despite Geopolitical Headwinds Thomas Cook (India) Limited has reported a Total Income for Fiscal Year 2026 (FY26) that grew by 3% to Rs. 85,578 Mn. The company's performance highlights maintained revenue generation amid major geopolitical disruptions and challenging market conditions that characterized the year.The company stated that FY 2026 was marked by significant geopolitical disruptions, starting with the Pahalgam attack and Operation Sindoor in April 2025, followed by the onset of the Israel-US-Iran conflict in February 2026. These events led to airspace closures, depressed travel sentiment, continued negative impacts on westward bound flights, and negative currency...

Bliss GVS Pharma Approves Financial Results, Recommends Dividend of 1 Rupee Per Share Bliss GVS Pharma Limited announced the outcomes of its Board Meeting held on Tuesday, May 12, 2026. The Board approved the audited standalone and consolidated financial results for the quarter and year ended March 31, 2026.The company also recommended a final dividend of 100%, equivalent to 1 Rupee per equity share, on the face value of Rs. 1/each for the financial year ended March 31, 2026, which remains subject to shareholder approval at the forthcoming 41st Annual General Meeting (AGM).Financial Results for FY2026 The Board approved the audited Standalone and Consolidated Financial Results for the year ended March 31, 2026. The company also...

Ratnaveer Precision Engineering Announces Strategic Diversification into Copper Clad Laminates Manufacturing Ratnaveer Precision Engineering Limited (formerly Ratnaveer Metals Limited) has presented its financial results for the fiscal year ending March 31, 2026, while simultaneously unveiling a significant strategic expansion into the Copper Clad Laminates (CCL) manufacturing sector.The company’s operational scope highlights its established market presence and manufacturing capabilities. Ratnaveer boasts an annual washer output of 1.8+ billion units and serves a total of 219 countries, establishing a vast reach through global distribution partners. The company also maintains a client base of over 3,500 national and international...

Euro Pratik Reports Strong Q4 FY26 Results, Noting 28.1% Revenue Growth Mumbai, May 12, 2026: Euro Pratik Sales Ltd, a prominent Surface Decorative Product company, announced its financial results for the quarter and year ending March 31, 2026. The company reported significant growth across key metrics for Q4 FY26.In the quarter, Euro Pratik generated Revenue from Operations of ₹93.5 crore, representing a 28% year-on-year growth compared to ₹73.0 crore recorded in Q4 FY25. Earnings also saw substantial gains, with Profit After Tax (PAT) reaching ₹21.5 crore, marking a 50% year-on-year increase. EBITDA stood at ₹25.6 crore, reflecting a 37% increase year-on-year.Quarterly Financial Snapshot (Q4 FY26) The financial performance for the...

CCI Gives Green Light: Five Key Industrial Firms Receive Section 311 Approval on 12/05/2026 A wave of regulatory compliance has swept through the industrial sector, with several key entities securing crucial approvals under Section 311. The Securities and Exchange Board's Commission (CCI) issued the clearances, signaling a significant boost in operational compliance for the listed companies. The approvals, dated May 12, 2026, underscore the ongoing regulatory activity for firms within the construction and engineering space.Regulatory Approval under Section 311 The most critical development is the official issuance of approvals by the CCI under Section 311. This regulatory action provides a key procedural green light for the companies...

Moxsh Overseas Educon Limited Allots 38,400 Equity Shares Following Warrant Conversion Moxsh Overseas Educon Limited, formerly known as Moxsh Overseas Educon Private Limited, announced that its Board of Directors, at a meeting held on May 12, 2026, approved the allotment of 38,400 equity shares. This allotment occurred following the exercise of conversion rights of warrants by a warrant holder.The Board meeting considered and approved the issue of 38,400 equity shares, each with a face value of Rs. 10/-. The allotment price was set at Rs. 80/- per equity share, which includes a premium of Rs. 70 per share.The allotment was executed for cash, resulting from the receipt of the remaining exercise price of Rs. 60/- per warrant. This...

Crompton Greaves Launches B22 Lamp Holder for Domestic Market Crompton Greaves Consumer Electricals Limited has announced the launch of a new product, the B22 Lamp holder (Round and Angular). The product enters the B2C Lighting category and is set for the domestic market.The details of the product launch are as follows:Product NameLaunch DateProduct CategoryMarket CoverageB22 Lamp holder (Round and Angular)12-05-2026B2C LightingDomesticThe company stated that the product launch does not trigger a threshold of materiality but was announced as a measure of adopting good corporate governance practices.CROMPTON Stock Price Movement Crompton Greaves Consumer Electricals Limited shares today slipped by 1.72% to close at...

Pfizer Limited Announces FY 2026 Results, Recommends 750% Dividend Pfizer Limited announced the outcome of its Board Meeting held on May 12, 2026, releasing the audited financial results for the fiscal year ended March 31, 2026.The Board of Directors recommended a final dividend of Rs. 75/- per equity share of Rs. 10/- each, representing a 750% payout ratio, for the financial year ended March 31, 2026. This dividend is subject to the approval of the shareholders at the ensuing Annual General Meeting. The recommended dividend would be paid on or after August 4, 2026, to shareholders whose names appear in the Register of Members as of the record date, scheduled for Friday, July 17, 2026.The Company will convene its 75th Annual General...

Texmaco Rail Approves Dividend, Defence Expansion, and Sigma Rail Collaboration Texmaco Rail & Engineering Limited, an Adventz Group company, announced key outcomes following its Board of Directors meeting on May 12, 2026. The Board approved the audited financial results (Standalone and Consolidated) for the quarter and year ended March 31, 2026, and recommended a dividend for the shareholders.The company also greenlit significant strategic moves, including expanding its footprint in the Defence industry and formalizing a collaboration with Sigma Rail Systems Pvt. Ltd.Financial Results for Q/Y Ended March 31, 2026 The Board approved the Audited Financial Results (Standalone & Consolidated) for the quarter and year ended March 31...

Master Trust Limited Receives Unmodified Auditor's Opinion for Financial Year Ended March 31, 2026 Master Trust Limited announced that the Statutory Auditors of the company have issued their comprehensive audit report. The audit covered the Standalone and Consolidated Audited Financial Results for the financial year that ended on March 31, 2026.According to the company, the audit report, issued by the Statutory Auditors, M/s Bhushan Aggarwal & Co., Chartered Accountants (FRN 005362N), carries an unmodified opinion. This confirmation provides assurance regarding the company's financial performance for the period.MASTERTR Stock Price Movement Master Trust Limited shares today shed 5.44% in after-hours trading, settling at ₹83.29. The...