Markets

Fines Imposed on IRCTC by Stock Exchanges Over Board Composition Non-Compliance Indian Railway Catering And Tourism Corporation Limited (IRCTC) has received notices from the BSE and National Stock Exchange of India (NSE) regarding the imposition of fines for non-compliance concerning the composition of its Board of Directors and its Committees.The fines were imposed by both exchanges for the quarter ended on June 30, 2026.According to the details provided by the Company, the fine amount is ₹10,23,060/- each, including GST at 18%, levied by BSE and NSE.The penalties are linked to non-compliance with specific provisions related to the composition of the Board of Directors.Company Response and Future Steps IRCTC, which operates as...

ACME Solar Subsidiary Secures 130 MW Renewable Energy Project with Northeast Frontier Railway ACME Marigold Urja Private Limited, a wholly owned subsidiary of Acme Solar Holdings Limited, has executed a Power Purchase Agreement (PPA) with the Northeast Frontier Railway (NFR). The agreement covers the setup of a 130 MW Round the Clock (RTC) renewable energy power project.The Power Purchase Agreement (PPA) involves the establishment of the renewable energy project with NFR. The contract is a domestic agreement, confirming the project's scope and commercial terms.The project structure and financial details of the Power Purchase Agreement have been outlined as follows:DetailParticularProject Size130 MWCounterpartyNortheast...

Kuantum Papers Successfully Restarts Paper Machine-3 Post Major Technological Upgrade Kuantum Papers Limited has successfully restarted operations on Paper Machine-3 (PM3) at its manufacturing facility, following a major technological upgradation and rebuild project. The machine, located at Saila Khurd in District Hoshiarpur, Punjab, resumed production on August 26, 2026, after concluding necessary trials.The rebuild of PM3 is a core part of the company's strategic plan aimed at enhancing capacity and improving efficiency across its operations. The technological upgrade is designed to boost paper quality, increase operational efficiency, and improve the versatile product portfolio and overall production throughput.The rebuilt...

JSW Dulux Faces GST Dispute Over Tax Short Payment, Facing Liability of Rs 1,965/- JSW Dulux Limited, formerly Akzo Nobel India Limited, is facing a dispute with the Madhya Pradesh GST Department regarding the short payment of taxes related to input tax credit. The challenge stems from a Show Cause Notice received by the company.The dispute involves the Superintendent CGST and Central Excise, Gwalior, Madhya Pradesh GST Department. The company received the Show Cause Notice, dated 18.08.2026, on 25.08.2026. The notice relates to Section 74 of the CGST Act/Rules, 2017, and concerns a short payment of taxes for the period spanning April 2020 to March 2022.The liability, as detailed in the notice, includes the tax amount, applicable...

Chavda Infra Limited Secures ₹54.72 Crore Order for Five Star Hotel Project Chavda Infra Limited has successfully bagged a construction contract worth ₹54.72 crores (excluding GST) from Weisdom Design Build LLP. The contract pertains to the construction of the core and shell for a proposed residential plus commercial building, known as 'Ample and Ampleton,' located in Kudasan, Gandhinagar, as per the specifications provided by Weisdom Group.The project scope covers construction at all levels, including three Basements, the Ground Floor, the Plinth, the 1st to 20th Floors, the Terrace Slab, O.H. tanks, lift rooms, U.G. tanks, retaining walls, Sumps, and the lift area. The contract is scheduled to be executed over a period of 24 months...

Vinati Organics to Hold 37th AGM on September 23, Announces Final Dividend and Record Date Vinati Organics Limited has announced the schedule for its 37th Annual General Meeting (AGM) and provided details regarding the entitlement of members to a final dividend for the financial year 2025-26.The Company's 37th AGM is set to be held on Wednesday, September 23, 2026, at 11:00 A.M. (IST). The meeting will be conducted through Video Conferencing (VC) or Other Audio-Visual Means (OAVM).The Company has fixed Wednesday, September 16, 2026, as the Record Date for determining the entitlement of members to receive the dividend. If approved by shareholders at the AGM, the final dividend of Rs.8.50 per Equity share, of Re.1/- each, for the...

KPI Green Energy Achieves Highest Ever Capacity Energization of 630+ MW DC in Three-Month Quarter KPI Green Energy Limited, a leading renewable energy company based in Gujarat and part of the KP Group, has announced a significant operational milestone, having energized over 630+ MW DC capacity across its Independent Power Producer (IPP) and Engineering, Procurement, Construction (EPC) businesses during the June-August quarter. This achievement marks the highest capacity energized by the company in a single quarter since its inception.The milestone underscores the scale and efficiency of KPI Green Energy’s project execution capabilities, spanning both IPP assets and projects executed through its EPC vertical. This rapid expansion is...

MTNL Levies Fine of Rs 12.66 Lakh for Non-Compliance with SEBI Regulations Mahanagar Telephone Nigam Limited (MTNL) has been issued a fine amounting to Rs 12,66,140 by the BSE following observations of non-compliance with various provisions of the SEBI (LODR) Regulations, 2015.The fine, which includes a basic fine of Rs 10,73,000 and GST at 18% totaling Rs 1,93,140, was imposed for non-compliance related to several regulations during the June 2026 quarter.In response to the action taken by the Exchange, MTNL has stated that it is a Public Sector Undertaking. The company pointed out that all appointments, including Independent Directors on the Board, are managed by the Administrative Ministry, the Department of Telecommunications...

Skyways Air IPO Rallies: GMP indicates 21% listing premium amid strong market interest The Rs 582.8 crore Initial Public Offering (IPO) of Skyways Air Services has entered its third day of bidding, attracting robust investor attention. The current Grey Market Premium (GMP) points toward a significant upside, suggesting a potential premium of 21% over the upper end of the IPO price band. Investors are keen on the issue, which opened on August 25 and is slated to close on August 27.IPO Subscription Status and Investor Demand As of Day 2, the Skyways Air Services IPO was subscribed at 2.46 times for the 2.95 crore shares on offer. Retail investors showed particularly intense demand in this segment, subscribing their allotted portion 3.54...

Banks Closed Today: Check State-Specific Holiday Calendar for Onam and Id-E-Milad Celebrations Banks across several states are observing a public holiday today, August 26, 2026. This observance is due to the simultaneous celebration of both Onam and Id-E-Milad in various regions. Customers needing to conduct financial transactions or visit branches must verify their specific state's holiday status before proceeding.Understanding the August Bank Holiday Observance Banks in India maintain a system that includes national, regional festivals, and designated banking holidays. Public holidays are also traditionally observed on the second and fourth Saturdays of every month. The current closure is specifically linked to...

Annu Projects IPO Completes Day 2: QIB Demand Surges as EPC Firm Navigates Flat Market The Rs 175.06 crore Annu Projects Initial Public Offering (IPO) continued its bidding on the second day, August 26. The company, an engineering procurement and construction (EPC) firm, is offering a fresh issue of shares to raise capital for operational expansion and working capital requirements.Currently, the IPO’s grey market premium (GMP) stands at zero, indicating a potentially flat listing trajectory based on current market indicators. The issue includes 1.77 crore shares in total, offered entirely as fresh stock with no offer-for-sale (OFS) component.Subscription Status Across Investor Segments On Day 1, the IPO achieved an overall...

Oil Plummets as Strait of Hormuz Talks Reopen; Geopolitical Tensions Test $80 Mark Global crude oil prices witnessed a significant decline on Wednesday, falling 3% despite ongoing geopolitical instability. The selling pressure intensified after news emerged that Iran had resumed talks with Oman regarding the management of the strategic Strait of Hormuz. This development has prompted traders to react, as hopes for de-escalation in the critical waterway are weighing heavily on oil valuations.Market Dynamics and Price Decline Oil benchmarks saw sharp drops across the board following their losses on Tuesday. Brent crude futures fell by $2.35, registering a 2.65% decline and closing at $86 a barrel. Meanwhile, U.S. West Texas Intermediate...

Solar Giant Avaada Electro Files UDRHP: IPO Set to Fund Massive Expansion in PV Market Solar cell and panel maker Avaada Electro has filed its updated Draft Red Herring Prospectus (UDRHP) with SEBI, signaling a major capital raise through an initial public offering (IPO). The company plans to raise up to ₹7,600 crore to finance substantial capacity expansion and service existing debt obligations.The IPO structure includes raising ₹1,600 crore through a fresh issue of shares. Complementing this, the promoter, Avaada Ventures, proposes selling up to ₹6,000 crore through an offer for sale (OFS), according to the UDRHP filed on August 25. The company also may explore a pre-IPO placement of up to ₹320 crore, which would be part of the...

REC Limited Incorporates Two Wholly Owned Subsidiaries for Power Transmission Projects REC Power Development and Consultancy Limited (RECPDCL), a Wholly Owned Subsidiary of REC Limited, has incorporated two new Wholly Owned Subsidiary companies focused on specialized power transmission projects. The companies, Vikramshila Power Transmission Limited and Alkud II Power Transmission Limited, are structured to manage key intra-state transmission assignments.These new entities are subsidiaries of REC Limited under the Companies Act, 2013. The incorporation comes as part of the assignments given by the Ministry of Power and State Governments, wherein RECPDCL acts as the Bid Process Coordinator (BPC) for the selection of the Transmission...

MTAR Technologies Secures Rs 126.74 Crore Order from Nuclear Power Corporation of India MTAR Technologies Limited has secured a significant contract worth Rs 126.74 crore from the Nuclear Power Corporation of India Limited. The order pertains to the supply of coolant channel assemblies required for the refurbishment of RAPS-4 and MAPS-2 reactors.The contract, which is part of regular business with the existing customer, details the supply of specialized components for the civil nuclear power sector. The order is categorized as a domestic purchase order, and the specified execution period for the contract is until May 26, 2028.The details of the transaction are as follows:Entity Awarding OrderNature of OrderOrder ValueExecution...

Shri Gang Industries and Allied Products to Hold Board Meeting to Discuss Share Capital Increase and Equity Issuance Shri Gang Industries and Allied Products Limited has scheduled a Board meeting to address significant corporate matters, including an increase in authorized share capital and a proposal for issuing new financial instruments.The meeting is set to take place on Monday, August 31, 2026. The agenda includes several key items focused on the company's capital structure and future financing avenues.Among the critical topics to be discussed is the proposed increase in the Authorized Share Capital of the Company, which would necessitate an alteration in the Memorandum of Association.The Board is also expected to review a...

AERA Order Determines Aeronautical Tariffs for Rajiv Gandhi International Airport (RGIA), Hyderabad GMR Hyderabad International Airport Limited (GHIAL) has received an official order from the Airports Economic Regulatory Authority of India (AERA) regarding the determination of aeronautical tariffs for Rajiv Gandhi International Airport (RGIA).The AERA issued the order, numbered 15/2026-27, on August 24, 2026. This order outlines the aeronautical charges for GHIAL, covering the 4th Control Period.The tariffs determined by the AERA apply to the period beginning April 01, 2026, and extending until March 31, 2031.The revised aeronautical charges, as per the AERA order, will be implemented and levied by GHIAL starting September 01...

Adani Energy Solutions Wins Rs 4,700 Crore Transmission Project for 4,500 MW of Renewable and Storage Power in Maharashtra Adani Energy Solutions Ltd. (AESL), a leading private transmission and distribution company within the Adani portfolio, has secured a major transmission project valued at an estimated Rs 4,700 crore. This project is designated for the evacuation of renewable and storage power generated in Karnataka to major load centers in Maharashtra, bolstering the pumped storage ecosystem across the Satara, Pune, and Mumbai Metropolitan Region (MMR).The project, titled "Network Expansion Scheme in Western Region to Cater to Pumped Storage Potential near Satara (up to 4500 MW) - Part A," was awarded to AESL following a Tariff...

Brickwork Ratings Upgrades Sammaan Capital Ltd Credit Rating to AAA, Citing Strong Support and Capitalization Brickwork Ratings (BWR) has upgraded the long-term credit rating of Sammaan Capital Limited to 'BWR AAA/Stable', following a comprehensive review of the company's financial standing and operational strength.The rating upgrade by BWR was based on several key factors, including the company's strong parentage and financial and managerial support. BWR also cited the presence of an experienced Board and Management team and Sammaan Capital's comfortable capitalization position.The credit rating upgrade comes as a market reflection of the company's performance. Following the investment by IHC on March 31, 2026, all major domestic...

<h1>Tavexia Lifecare Expands into Pharmaceuticals, Targeting Growth Across Value Chain</h1>Tavexia Lifecare Limited has expanded its operations by entering the pharmaceutical business as a new growth vertical, strengthening its overall presence within the healthcare and lifecare ecosystem. The strategic move is intended to diversify the company's revenue base while building upon its existing core lifecare business.The company plans to explore comprehensive opportunities across the pharmaceutical value chain. This scope includes pharmaceutical products, active pharmaceutical ingredients (APIs), intermediates, specialty chemicals, nutraceuticals, and related manufacturing processes. The new vertical is designed to complement Tavexia's...